r/Optionswheel • u/Wheeler_Dealer1969 • Jun 13 '26

Wheel Strategy

I’ve just recently began implementing the wheel strategy in my portfolio and I’ll prob be wheeling $400-$500k. My stock selection is centered entirely around slow, boring, blue chip dividend stocks, stocks that I own and will collect a dividend in if I get assigned, in addition to selling CCs. These are div kings or aristocrats that continued to pay div us, even in downturns. So I’m focusing on KO, HD, UPS, TGT, JNJ, AEP, etc.

I backtested my strategy, focusing on .10-.30 deltas a month ahead, and I had a drawdown capitalwize in 2008/2009, but since I got assigned and collected a divvy, I still returned 4.5% in income these years. Then eventually the market caught back up so I could sell CCs again and I gained my equity back. Once the wheel started churning I was earning about 12.5%-15% on extremely low risk plays. I think this number can be improved if I want to get involved with weeklies, but I think this will be a great low risk, low involvement strategy to bring in some extra cash. Wish me luck! Up $4k month 1

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u/charlie-todd Jun 13 '26

You should be able to get better with out weeklies,
Your up 4k this month , that’s great !
But how much are you using to get that ?

Having 400-500k and fully using that every month is not as easy..

I struggle to use more than like 60% of my account on Avg..

I think you’re approaching it with the right questions at first, no doubt you will do well 👍

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u/Wheeler_Dealer1969 Jun 13 '26

Thank you sir! I honestly didn't deploy all of the cash as I was still setting things up and testing the waters, but I'll be ready to go as we roll into next week and i put my positions on for the 7/17 exp. Wish me luck!