ON Semiconductor Corp (ON) Wheel Strategy

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

ON Semiconductor Corporation provides intelligent sensing and power solutions worldwide. Its intelligent power technologies enable the electrification of the automotive industry that allows for lighter and longer-range electric vehicles, empowers fast-charging systems, and propels sustainable energy for the solar strings, industrial power, and storage systems. The company operates through three segments the Power Solutions Group, the Advanced Solutions Group, and the Intelligent Sensing Group segments. It offers analog, discrete, module, and integrated semiconductor products that perform multiple application functions, including power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions.

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