Running a MPLX wheel strategy lets you generate consistent premium income on MPLX LP while setting your own entry and exit prices on the underlying. MPLX LP's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own MPLX, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best MPLX 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 MPLX, 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 MPLX wheel from a losing one.
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products; and sale of residue gas and condensate. It also engages in the inland marine businesses comprising transportation of light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions, as well as owns and operates boats and barges, including third-party chartered equipment, and a marine repair facility located on the Ohio River; and distribution of fuel, as well as operates refining logistics, terminals, rail facilities, and storage caverns.
In addition, the company operates terminal facilities for the receipt, storage, blending, additization, handling, and redelivery of refined petroleum products located through the pipeline, rail, marine, and over-the-road modes of transportation. MPLX GP LLC acts as the general partner of MPLX LP. The company was incorporated in 2012 and is headquartered in Findlay, Ohio. MPLX LP operates as a subsidiary of Marathon Petroleum Corporation.
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 MPLX wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your MPLX wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.
