Wheel Strategy Weekly Thread - Best returns of CSP, by delta, for stocks between $5 and $25

Weekly Update #14 - Expiry: July 1, 2022

Delta Symbol Current Price Strike Bid Ask Weekly Income %
0.00 BILI 29.27 18.50 0.01 0.05 0.05
-0.01 HOOD 8.20 6.00 0.01 0.04 0.17
-0.02 OPEN 5.40 4.00 0.01 0.08 0.25
-0.03 NIO 23.74 18.50 0.06 0.10 0.32
-0.04 NIO 23.74 19.00 0.08 0.10 0.42
-0.05 FSR 9.15 7.00 0.03 0.08 0.43
-0.06 CGC 3.72 3.00 0.02 0.08 0.67
-0.07 SPCE 6.52 5.50 0.03 0.05 0.55
-0.08 NIO 23.74 20.00 0.14 0.16 0.70
-0.09 RIOT 4.88 4.00 0.04 0.06 1.00
-0.10 SFIX 5.97 5.00 0.04 0.07 0.80
-0.11 NIO 23.74 20.50 0.19 0.22 0.93
-0.12 LAZR 7.40 6.50 0.06 0.08 0.92
-0.13 FSLY 13.05 11.50 0.11 0.16 0.96
-0.14 AMC 12.61 11.00 0.13 0.17 1.18
-0.15 BBBY 6.68 5.50 0.10 0.16 1.82
-0.16 DDD 10.41 9.50 0.09 0.20 0.95
-0.17 TRIP 19.42 18.00 0.14 0.27 0.78
-0.18 NIO 23.74 21.50 0.32 0.35 1.49
-0.19 HOOD 8.20 7.50 0.10 0.14 1.33
-0.20 CPNG 12.83 12.00 0.11 0.36 0.92
-0.21 NKLA 5.51 5.00 0.09 0.13 1.80
-0.22 AMC 12.61 11.50 0.22 0.26 1.91
-0.23 NIO 23.74 22.00 0.42 0.46 1.91
-0.24 SFIX 5.97 5.50 0.12 0.15 2.18
-0.25 FSR 9.15 8.50 0.16 0.26 1.88
-0.26 RIOT 4.88 4.50 0.13 0.16 2.89
-0.27 BBBY 6.68 6.00 0.25 0.31 4.17
-0.28 LAZR 7.40 7.00 0.16 0.20 2.29
-0.29 NIO 23.74 22.50 0.56 0.59 2.49
-0.30 CGC 3.72 3.50 0.11 0.16 3.14
-0.31 CCL 10.47 10.00 0.24 0.27 2.40
-0.32 VXRT 3.70 3.50 0.07 0.32 2.00
-0.33 AMC 12.61 12.00 0.38 0.42 3.17
-0.34 GPS 9.21 9.00 0.14 0.26 1.56
-0.35 NNOX 11.44 11.00 0.25 0.50 2.27
-0.36 NIO 23.74 23.00 0.71 0.75 3.09
-0.37 TLRY 3.60 3.50 0.10 0.13 2.86
-0.38 HOOD 8.20 8.00 0.25 0.29 3.13
-0.39 BILI 29.27 28.50 0.84 1.15 2.95
-0.40 AG 8.13 8.00 0.19 0.23 2.38
-0.41 BBBY 6.68 6.50 0.42 0.55 6.46
-0.42 SWN 7.10 7.00 0.12 0.27 1.71
-0.43 NIO 23.74 23.50 0.93 0.98 3.96
-0.44 MAT 23.59 23.50 0.30 0.65 1.28
-0.45 AMC 12.61 12.50 0.61 0.66 4.88
-0.46 SPCE 6.52 6.50 0.22 0.25 3.38
-0.47 NKLA 5.51 5.50 0.26 0.32 4.73
-0.48 JMIA 7.00 7.00 0.31 0.41 4.43
-0.49 SFIX 5.97 6.00 0.31 0.34 5.17
-0.50 VTRS 10.99 11.00 -1.00 2.35 0.00
-0.51 NIO 23.74 24.00 1.16 1.22 4.83
-0.52 OPEN 5.40 5.50 0.34 0.38 6.18
-0.53 RIOT 4.88 5.00 0.34 0.38 6.80
-0.54 GOLD 18.88 19.00 0.39 0.45 2.05
-0.55 BBBY 6.68 7.00 0.76 0.87 10.86
-0.56 FFIE 2.39 2.50 0.13 0.42 5.20
-0.57 AMC 12.61 13.00 0.91 0.97 7.00
-0.58 FUBO 2.90 3.00 0.18 0.23 6.00
-0.59 BKKT 2.39 2.50 0.16 0.28 6.40
-0.60 UAA 9.31 9.50 0.26 0.38 2.74
-0.61 NOV 16.64 17.00 0.60 1.25 3.53
-0.62 FSR 9.15 9.50 0.61 0.74 6.42
-0.63 CSTM 13.70 14.00 0.25 1.10 1.79
-0.64 BILI 29.27 30.50 1.88 2.36 6.16
-0.65 CGC 3.72 4.00 0.36 0.48 9.00
-0.66 BBBY 6.68 7.50 1.07 1.22 14.27
-0.67 AMC 12.61 13.50 1.28 1.35 9.48
-0.68 NCLH 12.82 13.50 0.92 0.98 6.81
-0.69 DKNG 13.72 14.50 1.02 1.09 7.03
-0.70 JMIA 7.00 7.50 0.63 0.83 8.40
-0.71 HIMX 9.30 8.50 0.50 0.80 5.88
-0.72 LAZR 7.40 8.00 0.70 0.78 8.75
-0.73 RAD 8.78 9.50 0.80 1.15 8.42
-0.74 BBBY 6.68 8.00 1.47 1.64 18.38
-0.75 AMC 12.61 14.00 1.69 1.77 12.07
-0.76 RIOT 4.88 5.50 0.69 0.74 12.55
-0.77 SPWR 17.87 19.00 1.22 1.70 6.42
-0.78 BLNK 17.90 22.50 2.73 6.85 12.13
-0.79 NIO 23.74 26.00 2.47 2.61 9.50
-0.80 AMC 12.61 14.50 2.12 2.22 14.62
-0.81 BBBY 6.68 8.50 1.81 2.96 21.29
-0.82 WE 6.16 7.00 0.80 1.15 11.43
-0.83 AG 8.13 9.00 0.89 0.97 9.89
-0.84 AMC 12.61 15.00 2.56 2.69 17.07
-0.85 BBBY 6.68 9.00 2.26 2.58 25.11
-0.86 CGC 3.72 4.50 0.76 0.99 16.89
-0.87 AMC 12.61 15.50 3.00 3.20 19.35
-0.88 BBBY 6.68 9.50 2.73 3.15 28.74
-0.89 AMC 12.61 16.00 3.50 3.70 21.88
-0.90 AGNC 11.57 16.50 3.35 7.10 20.30
-0.91 AG 8.13 11.50 3.25 3.65 28.26
-0.92 AMC 12.61 17.00 4.45 4.70 26.18
-0.93 BBBY 6.68 10.50 3.60 4.20 34.29
-0.94 BBBY 6.68 11.00 3.55 5.85 32.27
-0.95 AG 8.13 16.00 7.75 8.10 48.44
-0.96 AG 8.13 17.00 8.75 9.10 51.47
-0.97 BBBY 6.68 14.50 7.20 8.30 49.66
-0.98 BBBY 6.68 18.00 10.15 12.95 56.39
-0.99 RIOT 4.88 16.00 10.95 11.25 68.44

Quick Comments:

Oddly, weekly income % seems lower in general this week compared to last week. Expecting a bull run? The last 2 weeks, NEGG worked out great but since the underlying is less than $5 it does not appear here. The $4P has a delta around -0.32 and has a return of above 4%, so that seems like it could continue to be a good play.

  • BBBY $6P stands out at about 4%. Edit: BBBY downgraded this morning so is down 7%. Careful with picking the strike here!
  • CCL $10P could be a good play. I personally don’t see CCL falling much further.

Top 10 list:

Symbol Occurrences
AMC 131
BBBY 73
SST 68
BRCC 62
VERU 58
NIO 42
RIOT 40
MARA 40
LABU 38
NEGG 37