Happy Thanksgiving! Today’s focus is on the “Wheel” options strategy, involving selling cash-secured puts and covered calls to generate income and accumulate shares over time. Best suited for patient investors. Expire options between 28-60 days for optimal results.

Workday (WDAY) saw unusual put options activity, with the $185 put offering a 4.3% annualized return. Analysts are bullish, with 28 out of 39 rating it a Buy and target price of $282.18. Despite seeming expensive, the stock’s free cash flow yield is in the fair value range.

Robinhood Markets (HOOD) had significant options volume, with four puts showing potential. Selling the $115 put would generate 39.9% annualized return with a 77.7% chance of shares being above $111.35 at expiration. Analysts are lukewarm, with 14 out of 22 rating it a Buy and a $155.05 target price.

SoFi Technologies (SOFI) stock is up 85% in 2025, currently at $28.49. CEO Anthony Neto’s strategies are driving growth, but analysts are cautious. EPS expected to grow from $0.58 to $1.26 between 2026-2030. Only seven out of 24 analysts rate it a Buy, with a target price below its current share price. S&P Global Market Intelligence reports SOFI trading at 49.1x its 2026 EPS and 22.6x its 2030 EPS, with expectations of falling multiples due to strong earnings. Unusual options activity shows four puts on SOFI, with the $26 put standing out for its 8.7% OTM and $104 premium income potential. The $26 put offers a 41.1% annualized return and a 74.2% chance of expiring above $24.96. For a less risky option, consider the $23 put with a 16.6% annualized return and 85.56% chance of remaining above $22.62 in early January.

Read more at Barchart: Have You Heard of the ‘Wheel’ Strategy? These 3 Unusually Active Stocks to Buy Can Get You Started