ARGT Options Trading — Covered Calls, Puts & the Wheel
A complete guide to selling options on Global X MSCI Argentina ETF. Expected premiums, strike selection, real example trades, and the four strategies that actually work for ARGT.
Why trade options on ARGT?
ARGT (Global X MSCI Argentina ETF) is one of the most heavily traded ETFs for options strategies. Tight spreads and good open interest across strikes make it ideal for premium sellers. Because ARGT is a basket rather than a single name, single-stock earnings risk is diffused, which is a meaningful edge for consistent income.
Typical monthly premium collected on ARGT runs around 2.0-3.5% of capital, which annualizes to roughly 24-42% if you sell new contracts every cycle. Capital required to run a single contract wheel on ARGT is under $5,000 — the share price and the 100-share lot size set the minimum, not the strategy.
Four strategies that work on ARGT
ARGT Covered Call
Sell upside calls against 100 shares you already own to collect premium every month while capping your upside.
Read the ARGT Covered Call guide →ARGT Cash-Secured Put
Sell a put backed by cash so you either get paid to wait or acquire the stock at a discount to today's price.
Read the ARGT Cash-Secured Put guide →ARGT Wheel
Alternate between cash-secured puts and covered calls on the same ticker to generate continuous premium income.
Read the ARGT Wheel guide →ARGT Poor Man's Covered Call
Replace the 100 shares with a long-dated deep-ITM LEAPS call and sell short-dated calls against it to reduce capital.
Read the ARGT Poor Man's Covered Call guide →ARGT options FAQ
What is the best strike price for a ARGT covered call?
On ARGT, target 8-12% out of the money at 0.15-0.25 delta. On a high-volatility stock like this, closer-to-the-money strikes chase premium but spike assignment probability to uncomfortable levels.
How much premium can I collect selling calls on ARGT?
Typical monthly premium on ARGT is 2.0-3.5% of position value, annualizing to 24-42% when you roll every cycle. Earnings months can pay 2-3x the normal rate because of elevated IV.
What is the best delta for a ARGT cash-secured put?
A delta of 0.15-0.25 on ARGT balances premium income with assignment probability. Many traders anchor to 0.20 delta as a starting point and adjust based on their willingness to own shares.
How much cash do I need to sell a put on ARGT?
Cash required is 100 × strike price. For ARGT, that's roughly under $5,000 per contract at a typical strike. Most brokers let you use margin, but for a true cash-secured put you set aside the full amount.
Is ARGT a good stock for the wheel strategy?
ARGT is workable for the wheel because of its reasonable spreads and elevated IV (high premium, higher assignment risk). No dividend means all your return comes from premiums and price appreciation.
Can you run a poor man's covered call on ARGT?
Yes. Buy a 0.80+ delta LEAPS on ARGT dated 12-18 months out as your synthetic long, then sell short-dated calls 8-12% above the stock at 0.15-0.25 delta. Capital tied up drops from under $5,000 to roughly 30-50% of that — a meaningful improvement when the share price is a low share price.
What expiration should I use for ARGT options strategy trades?
Use 21-35 DTE to capture IV without excess gamma risk as a default for ARGT. This window captures the steepest part of the theta curve without excess gamma risk.
Is ARGT suitable for beginners selling options?
Not ideal for beginners. Smaller-cap names can have wider spreads and sharper moves. Start with large caps or major ETFs first. Always check the bid/ask spread before entering — anything wider than 5% of the mid price is a warning sign.
Run the numbers on ARGT yourself
Use the free OptionsPilot calculator to price covered calls and cash-secured puts on ARGT with live quotes.
Open the ARGT Strike Finder →