Running a NOWL wheel strategy lets you generate consistent premium income on GraniteShares 2x Long NOW Daily ETF while setting your own entry and exit prices on the underlying. GraniteShares 2x Long NOW Daily ETF's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own NOWL, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best NOWL 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 NOWL, 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 NOWL wheel from a losing one.
The Fund strives to provide daily investment outcomes, before accounting for fees and expenses, that are two times (200%) the daily percentage fluctuation of ServiceNow Inc.'s common stock, listed under NASDAQ: NOW. It is not guaranteed that the Fund will fulfill its stated purpose. Moreover, the fund is not designed to offer a cumulative return that is double the performance of NOW for durations longer than a single day.
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 NOWL wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your NOWL wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.
