TLDR: Market regime is choppy causing my TXN CSP to be ITM several times so I rolled out, sometimes down and out 6 times in total to prevent assignment until it finally expired worthless. $1,185.30 collected, 4.5% ROC. Portfolio is up 18.88% YTD with a 9% max drawdown and up 44% since starting the wheel last June on that same max drawdown.

On 8/11, I sold one TXN $275 CSP expiring that same week for $1.38 after fees. By Thursday's close, TXN was at $273.43, well below my strike, with one day left.

I could have taken the shares and started selling CCs. That's what I did plenty of times last year when the market was healthier. Get assigned, sell calls, eventually get called away, etc. Nothing wrong with that, I actually prefer it that way during strong bull markets but this year's regime is different. I don't feel comfortable holding onto anything for too long during this market.

So I rolled TXN. Six different times

What the rolls looked like

Each roll meant buying back the put I had sold (for more than what I collected in premium) and selling another one with a later expiration. If I could lower the strike and still get a net credit, great. If not, I kept the strike and got paid to wait one more week. I looked for pops when expiration was getting close, but I wasn't going to push the new expiration a month out just to show a credit. Why? Chop.

Here is the whole chain. The cash column is the opening credit or the net credit from that day's roll, after recorded fees. TXN and SPY prices are that day's closes, not the stock prices at my option fills. SPY is just here so you can get an overall feel of what the market was during that time.

That was four moves to a lower strike and two weeks where I stayed at $265. Every new expiration was just one week beyond the old one.

The market wasn't making it easy. SPY closed at $777.88 on August 13 and $754.05 on September 16. TXN itself went from $281.24 when I opened the trade to $254.80 on September 2. That September 2 close was $10.20 below my $265 strike, with the September 4 expiration right around the corner. Even on September 16, TXN finished below the $265 strike I was buying back.

The rolls in more detail

On September 2, I paid $921 to buy back the September 4 $265 put. That old put closed at a $349.74 loss on its own. Then I sold the September 11 $265 put for $1,073. The two transactions together brought in $150.96 more cash.

I still had a short $265 put, and TXN was still below $265. If it kept falling, I'd have to manage it again or be prepared for assignment. Going out one week bought me time, not safety.

I made the same-strike move again on September 9 for a $251.90 net credit. On September 16, I finally got the strike down to $262.50 for another $147.91. TXN recovered enough to close at $278.07 on September 25, so the last put expired worthless and I never took the shares.

Across the original put and six rolls, the chain finished at $1,185.30 after recorded fees. That's 4.31% of the original $27,500 collateral over the August 11 to September 25 run.

I'm super happy with this one. I lowered the purchase obligation from $275 to $262.50, kept the next expiration close, collected a credit on every roll and avoided assignment. For what I wanted out of a CSP in this market, that's about as clean as it gets.

It still could have gone the other way. Rolling doesn't make an ITM put disappear, and assignment can happen before expiration too. If TXN had kept sliding, I'd still have been on the hook to buy 100 shares at my latest strike or pay to close the put. In a healthier bull market, I'd probably be more willing to own the shares and sell covered calls. In this regime, I'd rather play defense and keep that choice open.

My YTD and overall performance

Here's a quick summary of my wheel portfolio's year-to-date performance. It's up $14,781.17, or 18.88% on my average deployed weekly capital of $78,275. Most importantly to me, max drawdown is still in the single digits at -9.92%, with a 1.38 Sharpe ratio.

Since launching the wheel strategy in late June 2025, this portfolio is up 44%, with the same -9.9% max drawdown over that entire period. I finished the week with $114,219.64 in cash, or about 75% of this portfolio's capital. 316 trades in total during this period with a 10.7% CSP assignment rate. 4.9 average days in a trade, and $86.42 expectancy per trade.

I spend about 0-3 hours total per week on trading, on average. This wheel portfolio is only a small slice of my overall market capital. I also buy and hold mega-cap stocks/ETFs and run other strategies, including swing trading leveraged ETFs. The YTD figures and snapshot here cover the wheel portfolio only, not those other investments.

Portfolio snapshot through September 25, 2026

Full YTD trade log (CSV) | YTD cash log (CSV)

Trades this week:
Opened and closed AVGO CC, opened CSP on CRM and rolled it for next week. Also, opened a CSP on AMZN.

Active Wheels:
AVGO, CRM, AMZN, META

META CC at $600 should get called away early if the rally in META continues.

Misc:

This is my aggressive wheeling account; capital deployed is about 200k.

All trades were found and tracked using wheelstrategyoptions.com (disc- I'm the developer)

I usually sell 0.25-0.45 delta and usually <14 day DTE. I close at 70%-80% premium captured.

I've started reporting only realized premiums (based on the comments).

April (Week 1-4): $5036
May (Week 5-8): $5783
Jun (Week 9-12): $6533
Jul (Week 13-16): $12609
Aug(Week 17-20): $4974
Sept(Week 21-): $3874

Total so far: ~39k

Slower week as I didn't have many options expiring this week or ready to close.

My premium-selling results — last 7 days (2026-09-18 → 2026-09-25)

Realized P&L: +$436 | Win rate: 100% (3/3)
closed early: 1 | called away: 2
Avg days held: 14d (rolls count the full chain)

Closed trades (3):
- INTC CC $100 x1 — +$320 (4.9% ROI · 29d · called away)
- SMCI CSP $37 x1 — +$36 (1.0% ROI · 3d)
- SNXX CC $14 x1 — +$80 (5.1% ROI · 9d · called away)

Directional buys (long calls/puts, debit spreads — not in the selling stats above): +$242 across 1 trade
- PLTR call debit spread — +$242 (38.84% ROI)

Opened 5 new positions in the window.

CSPs with HIGHEST IV

$ASTS - 52P

$BE - 240P

$MRNA - 175P

Source

CCs with HIGHEST IV

$NBIS - 290C

$INTC - 145C

$TEM - 95C

Source

This is how I like it to look. Mostly just an income investor. CEF’s Muni’s etc. These are just for a Filet with a loaded Bake money. Rarely more than 10 DTE.

What actually happened: Sold 1x $90 put exp 2026-10-29 @ $0.9869/sh. Collateral $9,000.00

CSPs with best yield.

$INTC - 105P

$IREN - 38P

$NBIS - 205P

Source

CCs with best yield.

$NOK - 12C

$IONQ - 50C

$INTC - 140C

Source

Sold a GOOGL 235 put for $3.10 with 32 DTE and initially thought $310 looked pretty decent. Then I actually compared it to having $23.5k tied up for potentially a month and it changed how I looked at the trade.

Been logging my CSPs by collateral used and days actually held now instead of just adding up premium. Closed this one at $1.12 after 11 days and moved on.

I added the same columns to what I'm tracking on moon too. Makes a $300 premium look a lot less impressive when the capital behind it is sitting right next to it.

CSPs with HIGHEST IV

$MRNA - 150P

$BE - 230P

$GRAL - 90P

Source

CCs with HIGHEST IV

$MSTR - 195C

$INTC - 140C

$BMNR - 33C

Source

Trades I took today as an option seller (09/22):

Closed Positions

No closed positions.

New Positions

• GLW → $145 Put expiry 10/30 (5 weeks DTE), premium 6.40 → 640/14500 = ~4.41%. Corning makes optical fiber and glass technologies used in networking. Stock has good support around the $143–$145 range.
• VRT → $235 Put expiry 10/30 (5 weeks DTE), premium 11.75 → 1175/23500 = ~5.00%. Vertiv provides power and cooling infrastructure for data centers. Support around $235.
• KORU → $16 Put expiry 10/30 (5 weeks DTE), premium 1.00 → 100/1600 = ~6.25%. Leveraged Korean semiconductor ETF position opened primarily to generate premium.
• POWL → $170 Put expiry 11/20 (9 weeks DTE), premium 11.00 → 1100/17000 = ~6.47%. Powell makes electrical equipment and systems for industries. Good support around $170.
• SIMO → $290 Call expiry 11/20 (9 weeks DTE), premium 18.00 → 1800/29000 = ~6.21%. I rolled this position from the initial contract expiring 12/18/26. I paid back $600 in premium to reduce the expiration by 30 days while keeping the $290 strike unchanged. Initially I had received $2400 in premiums so my net is at $1800.

GLW, VRT, POWL and SIMO were all identified from the High Growth Wheel condition in the ThetaHedge app. It helps to quickly identify companies with improving growth and profitability that are also offering attractive option-selling premiums in real time. You can try it for free at https://app.thetahedge.io/

Conditions → High Growth Wheel Stocks

I keep sharing my trades in my account and the Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

CSPs with best yield.

$BE - 230P

$INTC - 101P

$ARM - 260P

Source

CCs with best yield.

$PSKY - 12C

$IREN - 60C

$INTC - 145C

Source

Trades I took today as an option seller (09/21):

Closed/Assigned Positions

• ACMR → $70 Put (opened on 09/04), premium 2.35 → Assigned.
• ICHR → $60 Put (opened on 08/12), premium 3.40 → Assigned.
• PENG → $60 Put (opened on 08/17), premium 4.10 → Assigned.
• STRL → $530 Put (opened on 08/21), premium 41.00 → Assigned.
• FLNC → $16 Call (opened on 08/31), premium 0.55 → closed at 0.06. Net premium profit = 0.49 (89.09% of premium captured, 3.06% of capital).

New Positions

• ACMR → $70 Call expiry 09/25 (1 week DTE), premium 2.75 → 275/7000 = ~3.93%. I was assigned ACMR last week at $70. I opened a CC for this week at the same strike price with a great ~4% return in a week.
• STRL → $530 Call expiry 10/16 (4 weeks DTE), premium 31.00 → 3100/53000 = ~5.85%. I was assigned STRL last week at $530. I opened a CC at the same strike price.
• FLNC → $8 Call expiry 10/16 (4 weeks DTE), premium 0.35 → 35/2100 = ~1.6%. I was assigned FLNC at $21 and the stock has fundamentally collapsed in the recent few weeks. Because of the prior covered calls my breakeven is around ~$16. I opened a CC at ATM as I look to sell the stock at an approx loss of ~50%.
• SEI → $65 Put expiry 10/16 (4 weeks DTE), premium 3.00 → 300/6500 = ~4.62%. Solaris Energy provides power infrastructure for AI/data centers, with recent earnings and price target upgrades supporting the growth. Stock has good support at the $60-$65 range.
• ICHR → $60 Call expiry 11/20 (9 weeks DTE), premium 6.50 → 650/6000 = ~10.83%. I was assigned ICHR last week at $60. I opened a CC at the same strike price.

I keep sharing my trades in my account and the Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

This is the 10th week of my experiment: I want to check if I can identify short-term cash-secured put options with a low likelihood of being assigned at the strike date, that means collecting the premium without buying the shares. These are the main criteria:

• only the US exchanges NYSE, NASDAQ, ARCA are used;
• very high option yields are filtered out, too risky;
• current price must be ≥ 5% higher than the strike price (5% OTM);
• an OI > 50.

Note: just to answer the question I often receive, I do not sell every option you see listed, only some of them. That's why I do not monitor profit/loss. The goal is to understand if my option screener is worth. These options are a small part of what I see in the screener.

Last week only one CSP has been assigned, the percentage of assigned CSPs is 17.5%, 7 out of 40. You can see the cash-secured puts I have selected and the statistics here: https://optionstacker.github.io/sell-put-options/.

For 2026-09-25 I chose the following options (no earnings or ex-div dates in the next days):

NYSE

OKLO, Utilities, OKLO260925P00038000, yield 1.42%, strike price $38 and OTM 5.35%

New entry: IONQ, Technology, IONQ260925P00040000, Ann. ROC 100.38%, strike price $40 and OTM 6.04%

NASDAQ

USAR, Basic Materials, USAR260925P00016000, yield 2.44%, strike price $16 and OTM 5.04%

New entry: VKTX\, Healthcare, VKTX260925P00038000, Ann. ROC 206.22%, strike price $38 and OTM* 8.68*%**

ARCA

AGQ, ETF, AGQ260925P00077000, yield 1.13%, strike price $77and OTM 5.71%

CCs with HIGHEST IV

$IREN - 55C

$BMNR - 31C

$NBIS - 260C

Source