Cash-Secured Put Screener
Find the Best Cash-Secured Puts in Seconds
The cash-secured put is the entry leg of the wheel strategy. You sell a put option on a stock you're willing to own, collect the premium upfront, and either keep it (if the stock stays above your strike) or get assigned shares at a discount (if it drops below). Done consistently on quality tickers with elevated implied volatility, it generates reliable income with defined risk.
The challenge is finding the right ticker, the right strike, and the right expiration — every week. Option Wheel Logic's cash-secured put screener automates that process. It monitors 300+ curated tickers in real time, ranks them by IV rank and wheel-strategy suitability, and surfaces the optimal put strike for a target delta of 0.25 at 30–45 days to expiration. You see the expected premium, annualized return, and earnings date risk all in one row — no spreadsheet, no manual chain-diving.
When a position moves against you, the built-in roll advisor calculates probability-weighted roll targets to the next expiration. And when you get assigned, the wheel continues automatically — the tracker flips your position to a covered call and carries your cost basis forward. Every CSP you sell is logged, tracked, and analyzed so you can see exactly which tickers and strategies are generating the most income over time. Learn more about how the wheel strategy works or read the guide to picking the best stocks for the wheel.
- Real-time screening of 300+ curated tickers with CSP-specific scoring
- IV Rank and IV Percentile displayed for every ticker so you sell into elevated volatility
- Suggested put strike and premium calculated from live options market data
- Delta, days-to-expiration, and annualized return shown at a glance
- Live Gamma Exposure (GEX) regime, put wall, and gamma flip used to score every put candidate
- Max Pain, Put/Call Ratio, and 25-delta IV Skew computed live from the option chain
- Unusual Options Activity (UOA) badge fires when chain volume runs 2× or more above open interest
- Liquidity filter ensures suggested strikes have at least 100 open interest — no fake premium
- Earnings date warnings so you never accidentally sell into a binary event
- One-click trade logging to track every CSP from open to close or assignment
- Wheel strategy integration — assigned shares roll automatically into covered calls
- Sector-based filtering to concentrate exposure where opportunity is highest
How to Use the Cash-Secured Put Screener
1. Sort by IV rank
Open the screener and sort by IV rank descending. The tickers at the top are offering the most elevated premium relative to their own history — this is where put skew works hardest in your favor. Filter to tickers with IV rank above 40 to eliminate low-premium opportunities before you look at anything else.
2. Check the earnings flag
Any ticker with an earnings announcement inside the 30–45 DTE window is flagged in the screener. Skip flagged tickers or select an expiration that clears the announcement date. This one check prevents the most common beginner mistake — accidentally selling a put the week before an earnings miss.
3. Review the suggested strike
The screener surfaces the put strike nearest to 0.25 delta at your target DTE range. Review the strike price, premium, and annualized return. Confirm the strike is a price you'd genuinely be comfortable buying at — this is the most important question in the whole process.
4. Open the deep dive for confirmation
Click any ticker to open the deep dive chart, which shows the stock's 12-month price history, support and resistance levels, and technical indicators. Use this view to confirm the strike is below meaningful support and that the technical picture is consistent with your thesis before placing the trade.
5. Log the trade and monitor
Once placed at your broker, log the trade in one click. The wheel strategy tracker takes over from there — tracking the position through expiration, flagging roll opportunities, and automatically transitioning to a covered call if you're assigned. Your effective cost basis is calculated and displayed in real time.
Why IV Rank Is the Most Important Filter
Implied volatility rank (IV rank) measures where current IV sits relative to its own range over the past 52 weeks. An IV rank of 70 means current IV is higher than 70% of all readings over the past year — the options market is pricing in significant uncertainty, and put sellers are being paid a premium above the historical norm to take on that uncertainty.
This matters because options premium is mean-reverting. High IV tends to compress over time, which benefits put sellers in two ways: the premium collected at trade entry is above average, and IV compression after the trade opens adds to the position's profit from vega decay alongside the expected theta decay.
In practice, targeting IV rank above 40 and avoiding tickers where IV rank is below 30 significantly improves the expected return per dollar of capital deployed. The screener sorts by IV rank automatically so the best opportunities are always visible at the top of the list. For a deeper explanation of how to use IV rank in your stock selection process, read the guide to the best stocks for the wheel strategy.
Trade With Dealer Flow Using Live GEX
The cleanest premium-selling environment for cash-secured puts is one where the market is being actively dampened by options dealers — not amplified by them. That difference comes down to one metric: net Gamma Exposure (GEX). Option Wheel Logic computes live GEX from the full option chain for every covered ticker and feeds it directly into the CSP score, the AI copilot, and the daily brief candidate list.
When GEX is Positive, dealers are net long gamma — they buy weakness and sell strength to stay delta-neutral, which mechanically suppresses realized volatility. CSPs sold in this regime tend to decay smoothly toward zero. When GEX is Negative, dealers are net short gamma — they chase price in both directions, expanding intraday ranges and turning ordinary pullbacks into sharp drawdowns. Selling a put through a Negative-GEX flush is how most premium sellers end up assigned at the worst possible moment.
The dashboard surfaces the GEX regime, dealer put wall, call wall, and gamma flip level on every ticker, with tooltips on each metric. CSP scores get a +9 boost in Positive regimes and a −9 penalty in Negative ones. When you open the deep dive, the AI bakes those same data points into its written analysis. When the daily brief runs, Claude is instructed to actively prefer Positive-GEX candidates and require a clear compensating reason — high IVR, deeply oversold RSI, or large open interest at a support strike — before suggesting any Negative-GEX put.
Frequently Asked Questions
Common questions about cash-secured puts and the screener.
A cash-secured put is an options strategy where you sell a put option while holding enough cash to buy 100 shares at the strike price if assigned. You collect the premium upfront. If the stock stays above the strike at expiration, you keep the premium and repeat. If it drops below, you buy the shares at the strike — but your effective cost is reduced by all the premium collected. It's the entry leg of the wheel strategy.
The screener pulls live options data for 300+ curated tickers, scores each by IV rank, liquidity, and earnings timing, and surfaces the optimal put strike nearest to a 0.25 delta at 30–45 days to expiration — the sweet spot for probability-weighted premium collection. Every row shows the suggested strike, expected premium, annualized return, and earnings date risk so you can evaluate and act in seconds.
Option Wheel Logic covers 300+ curated tickers spanning large-cap equities, sector ETFs, and dividend-paying stocks commonly used in wheel strategy portfolios. Every ticker is pre-vetted for options liquidity — open interest, bid-ask spread, and chain depth — so you're only seeing actionable opportunities.
Target IV rank above 40. This means current implied volatility is higher than 40% of all readings over the past 52 weeks — you're selling expensive options and collecting above-average premium. Below 40, the premium collected rarely justifies the capital tied up. The screener sorts by IV rank in real time so the best opportunities are always at the top.
Most wheel strategy traders target a delta of 0.20–0.30 for their cash-secured puts. A 0.25 delta put has approximately a 25% probability of expiring in the money — meaning roughly 75% of the time it expires worthless and you keep the full premium. Lower delta (0.15–0.20) means less premium but higher probability of expiry. Higher delta (0.30–0.35) means more premium but more frequent assignment. The screener surfaces the 0.25 delta strike automatically, but you can review the full chain and adjust.
The screener displays the next earnings date for every ticker and flags any suggested strikes where the expiration falls inside the earnings window. Never sell a 30–45 DTE put with earnings inside the window — a single earnings miss can gap a stock 15–25% overnight, instantly turning a premium collection trade into a large unrealized loss. Filter out any flagged tickers or choose an expiration that clears the announcement date.
Gamma Exposure is the net dollar gamma that options dealers are holding from the contracts they've sold to the public. When GEX is Positive, dealers hedge by buying dips and selling rips — this suppresses realized volatility and creates the ideal environment for selling puts, because the underlying tends to stay range-bound and your strike stays safely OTM. When GEX is Negative, dealers hedge in the same direction as price, amplifying moves both ways. Selling puts into Negative GEX raises assignment risk noticeably. Option Wheel Logic adjusts every CSP score by up to 9 points based on the live regime, and the AI copilot and daily brief explicitly prefer Positive-GEX candidates.
The put wall is the strike with the largest concentration of negative dealer gamma — the level where dealers will most aggressively defend the stock from falling further. Selling a cash-secured put at or just above the put wall stacks the odds in your favor: dealer hedging flow becomes a structural support beneath your strike. Every deep dive in Option Wheel Logic shows the live put wall, call wall, and gamma flip level so you can size strike selection around dealer positioning, not just delta.
UOA fires when today's chain volume runs 2× or more above the total open interest on that ticker — a sign that institutional flow is repositioning quickly. For a put seller, a UOA flag is a signal to slow down and check the deep dive before opening a new position. It might be a benign hedge, or it might be informed flow ahead of a catalyst. The dashboard shows a cyan UOA badge in the GEX column the moment the ratio crosses the threshold.