01 — XOM · WHEEL STRATEGY

Best XOM 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 energy supermajor with steady options flow tied to crude prices and capital-return policy.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
ExxonMobil
Energy
XOM
$187.25+15.1% / 30d
IV rank (1y)
23.6% · low
Next earnings
Oct 30
Market cap
$770.0B
P/E (fwd)
15.6
Option vol
37K /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
$180 put · Dec 4
34 DAYS · 3.9% OTM · SELL TO OPEN
Credit
$414
Return
2.21%
PoP
68%
StrikeExpirationCreditReturn ↓PoP
$180
3.9% OTM
Nov 27
27 days
$363
$3.63 / share
1.94%69%
$85
54.6% OTM
Nov 27
27 days
$38
$0.38 / share
0.2%70%
$90
51.9% OTM
Dec 4
34 days
$4
$0.04 / share
0.02%70%
$110
41.3% OTM
Dec 4
34 days
$1
$0.01 / share
0.01%70%
$90
51.9% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$95
49.3% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$100
46.6% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$105
43.9% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$110
41.3% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
10 of 17 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 · $180 put · 34 DTE

$0+$414losses$175.86 BREAKEVEN$180 STRIKE

Key numbers

Premium collected+$414
Max profit+$414
Breakeven$175.86
Capped above$180
Probability of profit68%
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 XOM.

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

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