NEE NextEra Energy Inc.

NextEra Energy Inc. (NEE) is a utilities stock that shows up on a lot of wheel traders' watchlists — and for good reason. Utilities are the slow-and-steady corner of the wheel universe. Premiums are modest because these names barely move, but assignment risk is low and dividends help pad your return while you hold shares.

Here's the playbook. You start by selling a cash-secured put on NEE at a strike where you'd genuinely want to own 100 shares. Most utilities trade at accessible price points, keeping capital requirements on the lower end. If the put expires worthless, you pocket the premium and sell another. If you get assigned, you take delivery of the shares and pivot to selling covered calls above your cost basis until the position is called away. That full cycle — put, assignment, call, called away — is the wheel.

Rate decisions and regulatory filings are the main catalysts. Utilities rarely gap hard on earnings, which makes them forgiving if you accidentally sell through a report. Always check the earnings calendar before selling a new contract on NEE — getting assigned the day before an earnings print is a position-management headache you don't need.

If you're considering NEE for the wheel, run the numbers first. The wheel strategy calculator will model your full cycle return, the CSP calculator breaks down annualized yield by strike and expiration, and the covered call calculator helps you pick the right exit strike once you're holding shares. All free, no sign-up required.