The key to accuracy with that rifle is heavy bullets and moderate powder loads. I shoot a Knight USAK, which is the same barrel and action as your Wolverine and here are my basic loads:
300gr sabots - 80gr 2fg loose 777 powder, 95gr Pyro RS loose
350gr sabots - 90gr 3fg loose 777 powder, 105gr Pyro RS loose
400gr sabots - 100gr 3fg loose 777 powder, 115gr Pyro RS loose
These loads all produce approx performance of 1600fps and VERY tight groups - MOA accuracy in my rifle.
As far as bullet choice, the Hornady XTPs & SSTs shoot really well in the 300gr models. The 348gr Powerbelts also shoot pretty good under the above formula for 350gr sabots - except use 2fg 777 with Powerbelts.....they don't like the 3fg.
I wouldn't bother using any of the pellets with the #11 caps - pellets were designed for 209s - especially the 777 pellets. Also, use the CCI #11magnum caps, as they have more compund in them and are more reliable than the standard #11s.