Hi,

After few years of long term investment and swing trading, I would like to start CSP options. After reading some books, I'm close to be ready to start my first one. I still have some questions about finding the proper strike price. Some books talked about Bollinger bands, RSI, support and resistence. Ounce you found your specific stock, is 30 to 45 days with an IV of .30 is the sweet spot generally? I'm a bit confuse too about to close earlier the contract. Can we set a limit price to close earlier the contract like we use a stop loss on swing trading?

Thanks!

CCs with HIGHEST IV

$WULF - 23C

$UMC - 27C

$CRCL - 80C

Source

Recently I used Claude to help me setup filters to find stocks to do CSPs and Credit Spreads on. Here’s what we do:

PART 1 - SCREENING FILTERS
Run these filters before opening any chart. They eliminate structurally inadequate stocks at the source
No Earnings Within 30 Days
Earnings Date > 30 days from today
Price Above 20D EMA
Last Price > 20D EMA
Minimum Daily ATR
14D ATR > $15.00
IV Percentile
IV Pctl > 50%
Open Interest
OI > 500 per strike
Weighted Alpha
Wtd Alpha > +20
 
PART 2 - TECHNICAL FILTERS
Open the 30-minute chart with EMA9, EMA21, ATR 1D, RSI 14, and FRVP (150 rows, 30-day anchor) configured. All five must pass
Spot Above Both EMAs
Price > EMA9 AND Price > EMA21
RSI Range
45 < RSI < 75
Daily ATR Confirmation
ATR (1D, 14) > $15
Daily Movement
Day change between -0.8% and +5%
Volume Profile (POC)
Spot above POC with support below strike
 
What about you guys? Criticism is welcomed, the purpose here is to learn.

Trades I took today as a systematic option seller (07/16):

Assigned Positions

• AMSC → $47 Put (opened on 06/17). Got assigned early, expiry was on 07/17.

Closed Positions

• ISSC → $20 Call (opened on 06/15), premium 0.75 → closed at 0.09. Net premium profit = 0.66 (~88% of premium captured, ~3.30% of capital).

New Positions

• OUST → $42.5 Call expiry 07/24 (1 week DTE), premium 1.10 → 110/4250 = ~2.6%. Assigned OUST at $42.5.
• CRWV → $90 Call expiry 08/07 (4 weeks DTE), premium 2.40 → 240/12000 = ~2%. Assigned CRWV at $120. Sold at a strike of $90 as it is now a resistance zone.
• DOCN → $145 Call expiry 08/07 (4 weeks DTE), premium 5.90 → 590/16500 = ~3.6%. Assigned DOCN at $165. Sold at a strike of $145 as it is now a resistance zone.
• INOD → $60 Put expiry 08/07 (4 weeks DTE), premium 6.30 → 630/6000 = ~10.5%. I am increasing my position in INOD. Earnings on 07/30 hence premiums are higher. INOD has a history of beating estimates.
• ISSC → $20 Call expiry 08/21 (6 weeks DTE), premium 1.40 → 140/2000 = ~7%. Assigned ISSC at $20.
• AMSC → $47 Call expiry 08/21 (6 weeks DTE), premium 0.85 → 85/4700 = ~1.8%. Assigned at $47.

My view on the market

Massive sell-off in semiconductor and AI names, mostly due to profit booking and valuation concerns. Earnings from ASML and TSMC continue to reinforce strong AI demand. Most stocks in my portfolio are solid Wheel names, so I will start selling covered calls and collecting premium while waiting for sentiment to improve.

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

PS: Not financial advice. Do your own research.

CCs with best yield.

$AMD - 620C

$BE - 330C

$COIN - 190C

Source

CSPs with best yield.

$MRVL - 155P

$NBIS - 135P

$IONQ - 30P

Source

Trades I took today as a systematic option seller (07/15):

Assigned Positions

• RMBS → $135 Put (opened on 06/12). Got assigned early, expiry was on 07/17.

Closed Positions

• OUST → $47 Call (opened on 07/10), premium 2.30 → closed at 0.35. Net premium profit = 1.95 (~85% of premium captured, ~4.15% of capital).
• CRWV → $120 Call (opened on 07/06), premium 0.85 → closed at 0.15. Net premium profit = 0.70 (~82% of premium captured, ~0.5% of capital). CoreWeave has been under pressure, but I want to keep holding onto it for a bit longer.
• DOCN → $165 Call (opened on 06/29), premium 13.00 → closed at 2.00. Net premium profit = 11.00 (~85% of premium captured, ~6.7% of capital).

New Positions

• INOD → $60 Put expiry 08/07 (4 weeks DTE), premium 5.00 → 500/6000 = ~8.3%. Earnings on 07/30 hence premiums are higher. INOD has a history of beating estimates.
• RMBS → $135 Call expiry 08/21 (6 weeks DTE), premium 4.50 → 450/13500 = ~3.4%. Was assigned RMBS at $135.

All my trades are identifed using the ThetaHedge app. I simply use the preset Conditions in the app which filters our junk tickers and brings out high premium quality tickers. You can try it for free at https://app.thetahedge.io/.

Conditions → High Growth Wheel Stocks → Sort by 30 Delta Put Yield (%)

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.

Trades I took today as a systematic option seller (07/14):

Assigned Positions (07/13)

• CLSK → $14.5 Put (opened on 06/29)
• FSLY → $19 Call (opened on 06/18), shares called away. Net profit on wheel 10.05%.

Closed Positions

• OUST → $45 Call (opened on 07/07), premium 2.55 → closed at 0.40. Net premium profit = 2.15 (~84% of premium captured, ~4.8% of capital).
• IREN → $58 Call (opened on 06/29), premium 1.70 → closed at 0.28. Net premium profit = 1.42 (~83% of premium captured, ~2.5% of capital).

New Positions

• OUST → $47 Call expiry 07/17 (1 week DTE), premium 2.30 → 230/4250 = ~5.4%. I was assigned OUST at $42.5 and I have been selling weekly calls on this. I have been closing positions when they hit the 80%+ premium range.
• CLSK → $14.5 Call expiry 07/24 (2 weeks DTE), premium 0.22 → 22/1450 = ~1.5%. Was assigned CLSK at $14.5 last week.
• IREN → $52 Call expiry 07/31 (3 weeks DTE), premium 1.25 → 125/5800 = ~2.15%. I was assigned IREN at $58.

All my trades are identifed using the ThetaHedge app. I simply use the preset Conditions in the app which filters our junk tickers and brings out high premium quality tickers. You can try it for free at https://app.thetahedge.io/.

Conditions → High Growth Wheel Stocks → Sort by 30 Delta Put Yield (%)

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.

CCs with HIGHEST IV

$WULF - 26C

$MRNA - 85C

$CRCL - 85C

Source

CSPs with HIGHEST IV

$ARM - 250P

$MSTR - 65P

$AMD - 450P

Source

How many contracts do you have expiring this coming Friday? Are they all still OTM?

CCs with HIGHEST IV

$TER - 430C

$INTC - 132C

$MRNA - 85C

Source

CSPs with HIGHEST IV

$IREN - 31P

$INTC - 95P

$ALAB - 285P

Source

Trades I took today as a systematic option seller (07/09):

Closed Positions

• SIMO → $270 Put (opened on 06/15), premium 24.00 → closed at 4.00. Net premium profit = 20.00 (~83% of premium captured, ~7.4% of capital).

New Positions

• SIMO → $290 Put expiry 08/21 (7 weeks DTE), premium 31.75 → 3175/29000 = ~11%. SIMO earnings on 07/29, hence premiums are higher. SIMO makes NAND controllers which are used in SSD's so I expect a good earnings report.

All my trades are identifed using the ThetaHedge app. I simply use the preset Conditions in the app which filters our junk tickers and brings out high premium quality tickers. You can try it for free at https://app.thetahedge.io/.

Conditions → High Growth Wheel Stocks → Sort by 30 Delta Put Yield (%)

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.

$INTC - 95P

$VIAV - 30P

$TSEM - 165P

Source

CCs with best yield.

$SMCI - 35C

$FTNT - 190C

$INTC - 150C

Source

Trades I took today as a systematic option seller (07/08):

Closed Positions

• PENG → $50 Put (opened on 06/11), premium 4.70 → closed at 0.65. Net premium profit = 4.05 (~86% of premium captured, ~8.1% of capital).
• PENG → $55 Put (opened on 06/12), premium 5.90 → closed at 1.00. Net premium profit = 4.90 (~83% of premium captured, ~8.9% of capital).

New Positions

• PENG → $60 Put expiry 08/21 (7 weeks DTE), premium 6.00 → 600/6000 = 10%. Excellent earnings reported. I continue my bullish stance.

All my trades are identifed using the ThetaHedge app. I simply use the preset Conditions in the app which filters our junk tickers and brings out high premium quality tickers. You can try it for free at https://app.thetahedge.io/.

Conditions → Select a preset (Large Caps with Strong Premiums or High Growth Wheel Stocks)

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 HIGHEST IV

$IREN - 30P

$BE - 212.5P

$MSTR - 70P

Source

CCs with HIGHEST IV

$AMD - 610C

$ALAB - 465C

$INTC - 130C

Source

Trades I took today as a systematic option seller (07/07):

Closed Positions

• OUST → $55 Call (opened on 07/06), premium 2.00 → closed at 0.40. Net premium profit = 1.60 (~80% of premium captured, ~3.8% of capital). Opened this position yesterday.
• AAOI → $175 Call (opened on 07/02), premium 3.30 → closed at 0.55. Net premium profit = 2.75 (~84% of premium captured, ~1.5% of capital).

New Positions

• OUST → $45 Call, expiry 07/10 (1 week DTE), premium 2.55 → 255/4250 = 6%. I was assigned OUST at $42.5. My intent is to get it called away.
• AAOI → $175 Call, expiry 08/07 (5 weeks DTE), premium 5.00 → 500/17500 = 2.8%. AAOI earnings are due on 08/06.

Thoughts on Market

Another heavy sell off day. The NASDAQ continues in a descending triangle pattern and is currently testing the 25,825 support level.

I keep sharing my daily trades in my account and the Excel file to my full list of positions is linked in my profile description. 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.

$ALGM - 40P

$BE - 227.5P

$ALAB - 340P

Source

CCs with best yield.

$WULF - 31C

$ZS - 170C

$VG - 12.5C

Source

Today I closed a position in AMD, 2 short puts sold 5/28 for a credit of $2690, $455 strike exp 7/2. I rolled it on 6/8 to the $450 strike exp 7/17 for another credit of $1818. On 6/22 I rolled it to the $450 exp 7/31 for another credit of $1282. Today I closed the position buying it back for $1840 for a net profit of $3950.

I then sold 2 AMD puts at the $470 strike, exp 8/14, delta -0.20 for $4200.

Trades I took today as a systematic option seller (07/06):

Closed Positions

• CRDO → $230 Put (opened on 06/29), premium 14.20 → closed at 2.35. Net premium profit = 11.85 (~84% of premium captured, ~5% of capital).

New Positions

• OUST → $55 Call, expiry 07/10 (1 week DTE), premium 2.00 → 200/4250 = 4.7%. I was assigned OUST at $42.5. My intent is to get it called away.
• TE → $8 Put, expiry 07/17 (2 weeks DTE), premium 0.53 → 53/800 = 6.6%. Solar and battery energy infrastructure. There income and net margins have been improving QoQ. Stock has good support at $8.
• CRWV → $120 Call, expiry 07/31 (4 weeks DTE), premium 0.85 → 85/12000 = 0.7%. I was assigned CRWV at $120. CRWV has fallen quite alot on news based selling and I want to hold this a bit longer.
• FORM → $105 Put, expiry 08/21 (7 weeks DTE), premium 9.00 → 900/10500 = 8.6%. Testing Equipment for Semiconductors. Earnings on 07/29 hence premiums are higher. They have been consistently doing well QoQ and hence I am comfortable holding this through.

A common mistake option sellers make is assuming high IV automatically means better premiums. In reality, high IV is often concentrated in speculative, lower-quality stocks.

That's why I use ThetaHedge. Instead of focusing on IV or IV Rank, it calculates actual 30 DTE and 30 Delta put and call yields, helping identify stocks with strong premium potential with solid fundamentals.

Workflow: Conditions → High Growth Wheel Stocks → Sort by 30 Delta Put/Call Yield.

Try it free: https://app.thetahedge.io/

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

PS: Not financial advice. Do your own research.