01 — GLD · WHEEL STRATEGY

Best GLD wheel strategy setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Largest gold ETF with steady options flow tied to real-rate moves, dollar strength, and central-bank buying.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
SPDR Gold Shares
Commodity ETF
GLD
$355.78-6.6% / 30d
IV rank (1y)
24.6% · low
Option vol
27K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Cash-secured put · first leg of the wheel
$350 put · Dec 4
34 DAYS · 1.6% OTM · SELL TO OPEN
Credit
$710
Return
2%
PoP
62%
StrikeExpirationCreditReturn ↓PoP
$350
1.6% OTM
Nov 27
27 days
$630
$6.30 / share
1.77%63%
$345
3.0% OTM
Dec 4
34 days
$591
$5.91 / share
1.66%69%
$345
3.0% OTM
Nov 27
27 days
$500
$5.00 / share
1.41%70%
4 of 4 matchesCustomize filters →

03 — Strategy

Wheel Strategy, plainly explained

Traders who want to own quality stocks at lower cost basis while generating premium income on both sides.

P&L at expiration · $350 put · 34 DTE

$0+$710losses$342.90 BREAKEVEN$350 STRIKE

Key numbers

Premium collected+$710
Max profit+$710
Breakeven$342.90
Capped above$350
Probability of profit62%
Days to expiration34

When this trade makes sense

Use when

  • ✓You're willing to start by selling cash-secured puts
  • ✓You'd be happy owning the stock if assigned
  • ✓You can hold long-term if assigned at a lower price
  • ✓IV rank is elevated — both legs pay better premium

Avoid when

  • ✕You can't tie up the cash for the put leg
  • ✕You don't want this stock at any price
  • ✕Earnings are inside the expiration window
  • ✕Premiums are unusually low — nothing to collect
Read the full wheel strategy guide →

05 — RUN IT LIVE

See the highest chance of profit on GLD.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

Analyze GLD free →