ProShares Investment Grade-Interest Rate Hedged (IGHG) Wheel Strategy

Running a IGHG wheel strategy lets you generate consistent premium income on ProShares Investment Grade-Interest Rate Hedged while setting your own entry and exit prices on the underlying. ProShares Investment Grade-Interest Rate Hedged's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own IGHG, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best IGHG 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 IGHG, 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 IGHG wheel from a losing one.

The index is comprised of (a) long positions in USD-denominated investment grade corporate bonds issued by both U.S. and foreign domiciled companies; and (b) short positions in U.S. Treasury notes or bonds ("Treasury Securities") of, in aggregate, approximate equivalent duration to the investment grade bonds. The fund will invest at least 80% of its total assets in component securities (i.e., securities of the index) and invest at least 80% of its total assets in investment grade bonds.

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 IGHG wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your IGHG wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.