MediaAlpha Inc (MAX) Wheel Strategy

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

MediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California. MediaAlpha, Inc. is a subsidiary of White Mountains Insurance Group, Ltd.

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