First Trust Expanded Technology ETF (XPND) Wheel Strategy

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

The First Trust Expanded Technology ETF (the "Fund") seeks to provide long-term capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks of companies identified by the Fund's investment advisor as either information technology companies or financial companies and communication services companies whose operations are principally derived from and/or dependent upon technology (such companies are collectively referred to herein as "Expanded Technology Companies"). While the Fund is actively managed, the investment advisor intends to utilize a quantitative model to help identify Expanded Technology Companies with attractive long-term capital appreciation potential.

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