BW · Wheel

Babcock & Wilcox Enterprises, Inc. Common Stock (BW) wheel

The cash-secured put → assigned shares → covered call cycle for this ticker.

$4.27
Modelled strike
$3.50
Modelled premium
$0.06
Cash required
$350.00
Breakeven
$3.44
Downside buffer
19.5%
Period return
1.8%
Annualized return
91.9%
Days to expiration
10
Strategy payoffModelled cash-secured put payoff. Spot $4.27. Expiry maximum profit $6.00 · Expiry maximum loss -$344.00 · Expiry breakevens $3.44. Total position fees $0.00 deducted once. Intrinsic at the common expiration; IV/time never alters expiry P/L. No early exercise, assignment, slippage, dividends or taxes modeled.

Update time unavailable

Loading graph — the exact table is available below.

$2.135: Expiration P/L: -$130.50 Update time unavailable
Event / reference markers
  • Spot: $4.27
  • Expiry breakeven $3.44: $3.44
  • sell put strike $3.50: $3.50
Exact data table

Strategy payoff · full stored dataset, independent of graph range/toggles

ObservationExpiration P/L (USD)ContextUpdated
-$130.50Update time unavailable
-$126.23Update time unavailable
-$121.96Update time unavailable
-$117.69Update time unavailable
-$113.42Update time unavailable
-$109.15Update time unavailable
-$104.88Update time unavailable
-$100.61Update time unavailable
-$96.34Update time unavailable
-$92.07Update time unavailable
-$87.80Update time unavailable
-$83.53Update time unavailable
-$79.26Update time unavailable
-$74.99Update time unavailable
-$70.72Update time unavailable
-$66.45Update time unavailable
-$62.18Update time unavailable
-$57.91Update time unavailable
-$53.64Update time unavailable
-$49.37Update time unavailable
-$45.10Update time unavailable
-$40.83Update time unavailable
-$36.56Update time unavailable
-$32.29Update time unavailable
-$28.02Update time unavailable
-$23.75Update time unavailable
-$19.48Update time unavailable
-$15.21Update time unavailable
-$10.94Update time unavailable
-$6.67Update time unavailable
-$2.40Update time unavailable
-$0.00Update time unavailable
$1.87Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Spot referenceUpdate time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable
$6.00Update time unavailable

Black-Scholes from the published at-the-money implied volatility (one expected move out of the money). If assigned you buy 100 shares at the strike, an effective $3.44 per share after premium; the shares can keep falling.

Stage C would sell a $5.00 call for about $0.11, lowering the effective basis further.

Next steps

Data provenance

Figures are from published, reviewed research as of Oct 30, 2026, 4:00 PM EDT. Modelled option premiums use Black-Scholes with the published at-the-money implied volatility and are labelled as modelled, not as live quotes.