How do you guys rig these for trout under float? I am fishing small ponds and lakes for stocked browns and rainbows 9-14”. Float with split shot then hook? Or float with a small jighead below it?

I've never used wax worms for them, never needed to honestly, but I'd use them to tip a small jig if I was going to use them under a bobber. 

I used to fish stocked trout ponds and using a bobber with a very small mosquito hook or a Trout Magnet hook (no split shots to create that slow fall once it hits the water) tied one foot from the bobber. That set up killed it during the evenings when they were rising. You can get a box of 50 from a pets store fairly cheap and they last longer than earthworms 

 

i inadvertently caught a lot of crappie and bluegills too, which mixed it up a bit. Check out those Trout Magnet jig hooks. Super tiny, strong, and extremely sharp! Very underrated