Invesco Oil & Gas Services ETF (PXJ) Wheel Strategy

Running a PXJ wheel strategy lets you generate consistent premium income on Invesco Oil & Gas Services ETF while setting your own entry and exit prices on the underlying. Invesco Oil & Gas Services 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 PXJ, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best PXJ 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 PXJ, 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 PXJ wheel from a losing one.

The Invesco Oil & Gas Services ETF (Fund) is based on the Dynamic Oil Services Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Index is composed of stocks of 30 U.S. companies that assist in the production, processing and distribution of oil and gas. The Index may include companies that are engaged in the drilling of oil and gas wells; manufacturing oil and gas field machinery and equipment; or providing services to the oil and gas industry, such as well analysis, platform and pipeline engineering and construction, logistics and transportation services, oil and gas well emergency management and geophysical data acquisition and processing.

The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

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