PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) Wheel Strategy

Running a HYS wheel strategy lets you generate consistent premium income on PIMCO 0-5 Year High Yield Corporate Bond Index ETF while setting your own entry and exit prices on the underlying. PIMCO 0-5 Year High Yield Corporate Bond Index ETF's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own HYS, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best HYS wheel strategy setups in real time.

The wheel works best on liquid, high-quality names with stable fundamentals and active options markets — exactly the profile many large-cap leaders fit. The mechanics are simple: sell a cash-secured put on HYS, collect premium, and either keep the premium if it expires worthless or take assignment at a discount to current price. Once assigned, sell covered calls against the shares to keep collecting premium until they're called away. Choosing the right strikes, expirations, and IV environment is what separates a profitable HYS wheel from a losing one.

The Fund seeks to provide total return that closely corresponds, before fees and expenses, to the total return of The BofA Merrill Lynch 0-5 Year US High Yield Constrained IndexSM

The difference between a wheel that compounds and one that bleeds comes down to strike selection, IV timing, and discipline on assignment. Our scanner handles the heavy lifting: it ranks every leg of the HYS wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your HYS wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.