Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) Wheel Strategy

Running a XDTE wheel strategy lets you generate consistent premium income on Roundhill S&P 500 0DTE Covered Call Strategy ETF while setting your own entry and exit prices on the underlying. Roundhill S&P 500 0DTE Covered Call Strategy 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 XDTE, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best XDTE 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 XDTE, 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 XDTE wheel from a losing one.

The Roundhill S&P 500 0DTE Covered Call Strategy ETF (“XDTE”) is the first ETF to utilize zero days to expiry (“0DTE”)*** options on the S&P 500. XDTE seeks to provide overnight exposure to the S&P 500 and generate income each morning by selling out-of-the-money 0DTE calls on the Index. XDTE is an actively-managed ETF.

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