01 — HD · WHEEL STRATEGY

Best HD 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.

Mega-cap home-improvement retailer with options flow tied to housing turnover and pro-customer mix.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Home Depot
Consumer Discretionary
HD
$329.20+15.7% / 30d
IV rank (1y)
69.6% · elevated
Next earnings
Nov 17
Market cap
$328.4B
P/E (fwd)
20.6
Dividend
$4.63 · Sep 3
Option vol
5K /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
$320 put · Dec 4
34 DAYS · 2.8% OTM · SELL TO OPEN
Credit
$1435
Return
4.36%
PoP
64%
StrikeExpirationCreditReturn ↓PoP
$315
4.3% OTM
Dec 4
34 days
$912
$9.12 / share
2.77%69%
$320
2.8% OTM
Nov 27
27 days
$793
$7.93 / share
2.41%65%
$315
4.3% OTM
Nov 27
27 days
$619
$6.19 / share
1.88%71%
$310
5.8% OTM
Dec 4
34 days
$586
$5.86 / share
1.78%74%
$220
33.2% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
6 of 6 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 · $320 put · 34 DTE

$0+$1,435losses$305.65 BREAKEVEN$320 STRIKE

Key numbers

Premium collected+$1,435
Max profit+$1,435
Breakeven$305.65
Capped above$320
Probability of profit64%
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 HD.

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

Analyze HD free →