Noodles & Company (NDLS) Wheel Strategy

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

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of December 28, 2021, the company operated 448 restaurants in 29 states, which included 372 company locations and 76 franchise locations. Noodles & Company was founded in 1995 and is based in Broomfield, Colorado.

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