01 — JPM · WHEEL STRATEGY

Best JPM 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 US bank by assets with stable options flow tied to NIM, trading revenue, and credit cycle.

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JPMorgan Chase
Financials
JPM
$337.04+2.4% / 30d
IV rank (1y)
13.8% · low
Next earnings
Jan 14
Market cap
$895.0B
P/E (fwd)
13.2
Dividend
$6.15 · Oct 6
Option vol
13K /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
$330 put · Nov 27
27 DAYS · 2.1% OTM · SELL TO OPEN
Credit
$600
Return
1.78%
PoP
66%
StrikeExpirationCreditReturn ↓PoP
$330
2.1% OTM
Dec 4
34 days
$575
$5.75 / share
1.71%64%
$325
3.6% OTM
Dec 4
34 days
$471
$4.71 / share
1.4%71%
$325
3.6% OTM
Nov 27
27 days
$431
$4.31 / share
1.28%73%
$250
25.8% OTM
Dec 4
34 days
$9
$0.09 / share
0.03%70%
$200
40.7% OTM
Nov 27
27 days
$2
$0.02 / share
0.01%70%
$185
45.1% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$190
43.6% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$215
36.2% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$220
34.7% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
10 of 27 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 · $330 put · 27 DTE

$0+$600losses$324.00 BREAKEVEN$330 STRIKE

Key numbers

Premium collected+$600
Max profit+$600
Breakeven$324.00
Capped above$330
Probability of profit66%
Days to expiration27

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 JPM.

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