Melco Resorts & Entertainment Ltd ADR (MLCO) Wheel Strategy

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

Melco Resorts & Entertainment Limited develops, owns, and operates casino gaming and resort facilities in Asia and Europe. It owns and operates City of Dreams, an integrated casino resort that has approximately 511 gaming tables and 572 gaming machines; approximately 770 rooms, and suites and villas; approximately 25 restaurants and bars, and 165 retail outlets; and health and fitness clubs, three swimming pools, spa and salons, and banquet and meeting facilities. The company also operates Altira Macau, a casino hotel, which has approximately 101 gaming tables and 121 gaming machines; 230 hotel rooms; various dining and casual restaurants, and recreation and leisure facilities; and various non-gaming amenities comprising a spa, gymnasium, outdoor garden podium, and sky terrace lounge.

In addition, it operates Studio City, a cinematically themed integrated resort with gaming facilities, hotel, entertainment, retail, and food and beverage outlets that comprises 290 gaming tables and 645 gaming machines in Cotai, Macau. Further, the company owns and operates seven Mocha Clubs with 813 gaming machines, as well as Grand Dragon casino in Taipa Island, Macau. Additionally, it operates and manages City of Dreams Manila, an integrated resort in the Entertainment City complex in Manila; a casino in Limassol and three satellite casinos in Nicosia, Ayia Napa, and Paphos in Cyprus. The company was formerly known as Melco Crown Entertainment Limited and changed its name to Melco Resorts & Entertainment Limited in April 2017. The company was incorporated in 2004 and is headquartered in Central, Hong Kong. Melco Resorts & Entertainment Limited is a subsidiary of Melco Leisure and Entertainment Group Limited.

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