Chicago Atlantic Real Estate Finance Inc (REFI) Wheel Strategy

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

Chicago Atlantic Real Estate Finance, Inc. operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators and property owners in the cannabis industry. It has elected to be taxed as a real estate investment trust (REIT) and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 2021 and is based in Chicago, Illinois.

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