Running a VIXY wheel strategy lets you generate consistent premium income on ProShares VIX Short-Term Futures ETF while setting your own entry and exit prices on the underlying. ProShares VIX Short-Term Futures 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 VIXY, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best VIXY 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 VIXY, 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 VIXY wheel from a losing one.
ProShares VIX Short-Term Futures ETF seeks investment results, before fees and expenses, that match the performance of the S&P 500 VIX Short-Term Futures IndexTM.
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 VIXY wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your VIXY wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.
