01 — NFLX · WHEEL STRATEGY

Best NFLX 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.

High-beta single name with violent post-earnings repricing tied to subscriber numbers and pricing actions.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Netflix
Communication Services
NFLX
$62.08-10.8% / 30d
IV rank (1y)
42.9% · moderate
Next earnings
Jan 19
Market cap
$258.5B
P/E (fwd)
16.5
Option vol
84K /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
$61 put · Nov 27
27 DAYS · 1.7% OTM · SELL TO OPEN
Credit
$191
Return
3.08%
PoP
60%
StrikeExpirationCreditReturn ↓PoP
$60
3.4% OTM
Dec 4
34 days
$163
$1.63 / share
2.63%66%
$60
3.4% OTM
Nov 27
27 days
$145
$1.45 / share
2.34%67%
$59
5.0% OTM
Dec 4
34 days
$131
$1.31 / share
2.11%71%
$59
5.0% OTM
Nov 27
27 days
$105
$1.05 / share
1.69%73%
$35
43.6% OTM
Dec 4
34 days
$3
$0.03 / share
0.05%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 · $61 put · 27 DTE

$0+$191losses$59.09 BREAKEVEN$61 STRIKE

Key numbers

Premium collected+$191
Max profit+$191
Breakeven$59.09
Capped above$61
Probability of profit60%
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 NFLX.

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

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