Running a LOFF wheel strategy lets you generate consistent premium income on Direxion Daily SpaceX Bull 2X ETF while setting your own entry and exit prices on the underlying. Direxion Daily SpaceX Bull 2X 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 LOFF, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best LOFF 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 LOFF, 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 LOFF wheel from a losing one.
Direxion Shares ETF Trust - Direxion Daily SpaceX Bull 2X ETF is an exchange traded fund launched by Direxion Investments. It is managed by Rafferty Asset Management, LLC. The fund invests in public equity markets. The fund invests directly and through derivatives in stocks of companies operating across communication services sectors. It uses derivatives such as swaps and options to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. Direxion Shares ETF Trust - Direxion Daily SpaceX Bull 2X ETF is domiciled in the United States.
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 LOFF wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your LOFF wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.
