Myers Industries Inc (MYE) Wheel Strategy

Running a MYE wheel strategy lets you generate consistent premium income on Myers Industries Inc while setting your own entry and exit prices on the underlying. Myers Industries 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 MYE, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best MYE 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 MYE, 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 MYE wheel from a losing one.

Myers Industries, Inc. engages in distribution of tire service supplies in Ohio. It operates through The Material Handling and Distribution segments. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, OEM parts, storage, organization, and custom plastic products; injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling. It serves industrial manufacturing, food processing, retail/wholesale products distribution, agriculture, automotive, recreational, and marine vehicles, healthcare, appliance, bakery, electronics, textiles, consumer markets, and other markets under Akro-Mils, Jamco, Buckhorn, Ameri-Kart, Scepter, Elkhart Plastics, and Trilogy Plastics brands directly, as well as through distributors.

The Distribution segment engages in the distribution of tools, equipment, and supplies for tire, wheel, and undervehicle service on passenger, heavy truck, and off-road vehicles; and manufacture and sale of tire repair materials and custom rubber products, as well as reflective highway marking tapes. This segment serves retail and truck tire dealers, commercial auto and truck fleets, auto dealers, general service and repair centers, tire re-treaders, truck stop operations, and government agencies. The company was founded in 1933 and is headquartered in Akron, Ohio.

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