San Juan Basin Royalty Trust (SJT) Wheel Strategy

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

San Juan Basin Royalty Trust operates as an express trust in Texas. The company has a 75% net overriding royalty interest carved out of Southland's oil and natural gas interests (the Subject Interests) in properties located in the San Juan Basin in northwestern New Mexico. The Subject Interests consist of working interests, royalty interests, overriding royalty interests, and other contractual rights in 119,000 net producing acres in San Juan, Rio Arriba, and Sandoval Counties of northwestern New Mexico, as well as 1,140.0 net wells. BBVA USA serves as the trustee of the San Juan Basin Royalty Trust.

The company was founded in 1980 and is based in Houston, Texas.

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