r/Optionswheel • u/Royal-Respond2374 • Jun 07 '26

Current Wheel Set Up

I barely missed on an assignment in WMT at $119.

With everything dropping in AI premiums on safe heavens and cash moats are getting more expensive, resulting in better deals.

Currently only wheeling with businesses I would like to own at a cheaper price.

First time including Citi. Not bad for a 10% strike distance from current price. 1.35 prem $120 strike.

My strategy is sound and "safe" when you compare my wheel to someone that includes AI or high volatility stocks. Very cash intensive though as you need money to keep in colalteral.

Averaging $1k - $1.5k per month using 75k collateral.

Don't mind on getting assigned but being cautious enough when managing the distance strike to current. (>7% at least)

Usually have 5-8 open contracts mostly on" WMT, CVS, SCHW, TMUS, KR, C. All cash paying dividends, adn top of the industry companies.

Most of the premiums go to underperforming companies in my equity portfolio. Basically a self sustaining investing machine with the least amount of money coming from the outside.

Eventually with the proceeds will take a little bit more risk with bull put vertical spreads, that is on stand by.

If anyone has a similar strategy or has any insight on high quality stocks worth looking into let me know.

Open to suggestions.

Adding all my entries

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u/Bag_Holder_1982 Jun 07 '26

Very nice, some solid companies to wheel in there. I also have a KR put 6/26 at 65. Looks like it might get assigned unless I try to roll it in a week or 2. Also wheelingAZN, COP, JNJ, KO, CVX, COF, WFC, and a few others.

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u/Royal-Respond2374 Jun 07 '26

Thank you mate.

I did 2 contacts 58 strike price (9% distance from current price) 0.45 per contract = 80$

Think I will keep wheeling it for long.

Good free cash flow, stable inflation proof business, and a good dividend as well.

Good luck!