Ocean Power Technologies (OPTT) Wheel Strategy

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

Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and software, controls, sensors, integration services, and marine installation services. In addition, it offers distributed offshore power and communications for remote surface and subsea applications in markets, such as defense and security, offshore oil and gas, science and research, and offshore wind.

Further, the company provides Wave Adaptive Modular Vessel (WAM-V) technology, which enables roaming capabilities for uncrewed maritime systems in waters; leases WAM-V robotics and access information; maritime domain awareness solutions; and strategic consulting services. Additionally, it offers offshore data collection, integration, analytics, and real time communication for various applications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Monroe Township, New Jersey.

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