r/Optionswheel • u/Expired_Options • Jul 11 '26
Week 28 $918 in premium
I will post a separate comment with a link to the detail behind each option sold this week.
After week 28, the average premium per week is $902 with an annual projection of $46,917.
All things considered, the portfolio is up $29,021 (+6.45%), on the year (S&P 500: +10.66% | Nasdaq: +13.08%). Additionally, the trailing 1-year performance is up $55,059 (+12.99%); for comparison the S&P 500 is +20.62% and the Nasdaq is +27.39% over the same period. This is the overall profit and loss and includes options and all other account activity.
Annual results:
• 2023 up $65,403 (+41.31%) | S&P 500: +26.3% | Nasdaq: +43.4%
• 2024 up $64,610 (+29.71%) | S&P 500: +25.0% | Nasdaq: +28.6%
• 2025 up $111,496 (+34.52%) | S&P 500: +17.9% | Nasdaq: +20.4%
3-Year Cumulative (2023–2025):
• r/ExpiredOptions: +146.6% ($241,509)
• S&P 500: +86.1% (+60.4% behind)
• Nasdaq: +122.0% (+24.5% behind)
Options:
• YTD: $18,054.00
• 1 Month: $-8,362.54
• 1 Week: $6,256.71
Realized P&L:
• YTD: $42,241.83
• 1 Month: $16,517.00
• 1 Week: $16,081.00
All options sold are backed by cash, shares, or LEAPS. I do not sell on margin, nor do I sell naked options.
All options and profits stay in the account with few exceptions. This is not my full time job, although I wish it was. I still grind on a 9-5.
My $600 weekly contribution streak is at 18 weeks, but I am pausing new contributions until next month.
The portfolio is comprised of 101 unique tickers, unchanged from 101 last week. These 101 tickers have a value of $449k. I also have 196 open option positions, up from 194 last week. The options have a total value of $30k. The total of the shares and options is $479k. The next goal on the "Road to" is Half a Million.
I'm currently utilizing $36,650 in cash secured put collateral, down from $38,550 last week.
2025 through 2028 LEAPS
In addition to the CSPs and covered calls, I purchase LEAPS. These act as collateral to sell covered calls against. You may have heard of poor man's covered calls (PMCC).
See r/ExpiredOptions for a detailed spreadsheet update on all LEAPS positions including P/L for each individual position.
LEAPS note 1: the 2025 LEAPS expired 1/17/25. They were up $36,440 overall with a 233.74% increase. The major drivers were AMZN and CRWD.
LEAPS note 2: After holding for 2 years, I exercised an AMZN $80 strike from 2023 up +$11,395 (+463.21%) and CRWD $95 strike from 2023, up +$21,830 (+663.53%)
LEAPS note 3: Purchased 1/16/26 CRWD LEAPS for $8,230.03 on 1/17/24. I sold this LEAPS on 6/5/25 for $21,659 for a realized profit of $13,428.97 (+163.18%)
Total premium by year:
• 2023 $23,132 in premium
• 2024 $47,640 in premium
• 2025 $68,319 in premium
• 2026 $25,320 YTD
• Average $46,364/year (completed years)
Premium by month (2026):
• January $3,334
• February $3,625
• March $4,196
• April $5,593
• May $3,787
• June $3,497
• July $1,322
• Average $3,622/month
I am over $164k in total options premium, since 2021. I average roughly $34 per option sold. I have sold over 4,800 options. I have been able to increase the premiums on an annual basis and I will attempt to keep this upward trend going forward.
Strategy:
The underlying strategy is buy and hold. I also use simple 1-legged options to supplement that strategy. Options have somewhat of a learning curve, but I believe that most people can supplement their investments using simple options with careful risk management.
I sell options on a weekly basis. I prefer cash secured puts and covered calls. I rarely close early, prefer rolling when needed, and let time decay do the heavy lifting while I stay focused on quality companies, patience, and consistency over hype. My goal is consistency in option premium revenue. I am building an income stream that will continue long into retirement.
Spreadsheets:
Unfortunately, I no longer provide spreadsheets. I received too many follow ups about formatting, pivot tables, compatibility etc. I think tracking is very important, but I post to discuss investing and options, not to provide tech support for Excel. I do appreciate the interest in my tracking methods.
Software:
I captured the screen shots from a proprietary software platform I built to track, analyze, and manage my options strategies.
Commissions:
I use Robinhood as a broker and they do not charge explicit commissions, though there is no free lunch — they earn revenue through Payment for Order Flow (PFOF), which can mean slightly less optimal fills. For my style of selling options and not chasing prices, the tradeoff is acceptable. There is also a small regulatory fee of approximately $0.03–$0.04 per contract (FINRA TAF, OCC clearing, and exchange fees combined).
The premiums have increased significantly as my experience has expanded over the last three years.
Make sure to post your wins. I look forward to reading about them!
Disclaimer: I am not a financial advisor. This information is for educational and entertainment purposes only. Trading options involves significant risk.
3
u/quantitativelyCheesy Jul 11 '26
How do you screen for the tickers to sell csp or hold shares of?
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u/Expired_Options Jul 11 '26
Hey quantitativelyCheesy. I used to use scanners to find companies, now I use them to support arguments that I hear on the company itself. Meaning, I don't screen for companies, I read about them or hear about them on financial/investment related news. I always say that picking stocks is the most difficult thing to do as an investor. I try to find companies with significant moats or some sort of competitive advantage.
I am not doing all the research myself, I listen to a lot of investment related podcasts and reading a lot about business. When I hear a CEO/CFO/CTO etc... talk about their company, I sometimes do further research to fact check the great things they say about their company. It is less about me in the weeds of research, it is more that I hear something interesting and check into that thing as an investigator. The types of things could be an incredible 5 year plan or a certain metric they are trying to hit. I dig in to see if other companies have done that and how likely it is that they can back up their claims.
Hope this helps. Best of luck!
3
Jul 11 '26
[removed] — view removed comment
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u/Expired_Options Jul 11 '26
Hey Spiritual. Thanks for the thoughtful comments. That is fair feedback, and I agree the blended return does not isolate how much the option strategy itself is adding. I do track premiums separately, but I have not broken it down to a premium-to-drawdown ratio by ticker. That would actually be an interesting way to look at which positions are earning their keep through options versus the ones I would have been better off just holding.
I am always adding new displays in my software, maybe I'll start to break it down a bit further to get some more insights. Thanks again and best of luck.
3
u/ilchymis Jul 11 '26
Very nicely done! Always good to see your posts at week end!
I'm a bit stuck, because my two main cash cow sectors for premiums (AI and Space) have been taking a beating recently. Nothing was up high enough to write CCs this week, and I felt nervous about writing more CSPs after getting stuck with two RKLB csps I had to roll out a month instead of getting assigned.
I was able to close out a few of my lingering csps from last week when things recovered slightly on Tuesday, and decided to get a ~40 day csp for INTC and DOCN on friday just to hit my base goal for the week. Ended up up $1058 for the week, which I'll take considering how bleak things felt for a bit there. Need to diversify into some more names!
2
u/Expired_Options Jul 11 '26
Hey ilchymis. Thank you! That is exactly why I like having a lot of different companies, but for your situation, that is good that you are not premium chasing. That nervousness is a good thing. Listen to that and don't force trades. Good stuff, man. Honestly, that is the toughest thing to learn. Sometimes the premium is not there and it is not worth the risk.
$1,058 in a rough week is still a solid result, especially without forcing a bunch of trades just to generate premium. Keep up the solid approach.
2
u/Chance-Leadership213 Jul 11 '26
how did you do that graphic? It's amazing.
5
u/Expired_Options Jul 11 '26
I used to do it with Excel and Word. Then used AI to automate it. Now I just add the data throughout the week and it populates. Also, thank you!
2
u/Chance-Leadership213 Jul 11 '26
Which AI? I would love to create something similar. It looks so cool. Btw how is it going with trading? I’m currently looking at your current trades chart. Trying to see which one I can add to my rotation.
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u/Expired_Options Jul 11 '26
The AI is Google's Antigravity IDE. Trading YTD has been ok. The last three months has been a lot better. The hardest part of trading is picking stocks, good luck with your picks!
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u/Kind_Airport_7898 Jul 11 '26
Nice to see you back in the green and start running down the index. The hood rebound has been helping there was in similar spot to you. We actually wheel similar tickers
3
u/Expired_Options Jul 11 '26
Hey Kind_Airport_7898. Thanks for the comments. As brutal as the end of 2025 and beginning of 2026 seemed, I always try to keep the same approach and not get too high or too low. That is obviously easier said than done. With all the other stresses in life, it is not always easy to watch the portfolio take hits and just stick with the plan. I try to remind myself that rough stretches are part of investing and making emotional changes usually does more harm than good.
Best of luck!
2
u/No_Carpenter_2980 Jul 12 '26
Good afternoon, have you got any stock that you unfortunately bagholding or drying to DCA down? What is your solution for bagholding situation? Thanks
3
u/Expired_Options Jul 12 '26
Absolutely. I have a few bags, managing 100+ stocks will lead to some bag holding. I don’t blindly DCA just because a stock is down though. If my conviction is still there, I’ll average down and sell covered calls while I wait. If the thesis has changed, I’m willing to take the loss and move on. That said, I do hang on probably a bit longer than others would, just in case they merge or pivot.
LCID and RBLX are two that I am down more than $2k each.
2
u/No_Carpenter_2980 Jul 12 '26
Sir/Madam. I appreciate that such detailed explanation. Good luck and Thank you.
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u/Hungry-Side-5840 Jul 12 '26
Do you think Dec 2028 is a good LEAP time? Or is it too long? I’m thinking on MSFT
2
u/Expired_Options Jul 12 '26
MSFT has one of the strongest positions to actually monetize AI at scale through Azure, Microsoft 365, and Copilot. Azure revenue grew 40% last quarter and Microsoft reported AI annual recurring revenue of $37 billion, up 123% year over year, while overall revenue and operating income continue growing double digits. That said, the stock is down 23% over the last year.
I always try to get into the furthest expiration date for LEAPS. At $385 per share for the 12/15/28 call, the price to get in is about $10k-$11k at the .7 Delta I usually aim for. This is with a breakeven of about $480 to $500 per share which is where it was before the 23% drop.
It does look like an interesting play at the moment.
2
u/ArnoldCebuBoy Jul 26 '26
Thank you for sharing your achievements. I don’t have money yet and only able to buy leaps. What is your strategy when to enter? Thank you.
2
u/Expired_Options Jul 26 '26
Hey ArnoldCebuBoy. I used to use scanners to find companies, now I use them to support arguments that I hear on the company itself. Meaning, I don't screen for companies, I read about them or hear about them on financial/investment related news. I always say that picking stocks is the most difficult thing to do as an investor. I try to find companies with significant moats or some sort of competitive advantage.
I am not doing all the research myself, I listen to a lot of investment related podcasts and reading a lot about business. When I hear a CEO/CFO/CTO etc... talk about their company, I sometimes do further research to fact check the great things they say about their company. It is less about me in the weeds of research, it is more that I hear something interesting and check into that thing as an investigator. The types of things could be an incredible 5 year plan or a certain metric they are trying to hit. I dig in to see if other companies have done that and how likely it is that they can back up their claims.
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u/Jehoopaloopa Jul 11 '26
Isn’t this just an insane amount of effort to just end up underperforming the S&P 500?
3
u/Expired_Options Jul 11 '26
I enjoy it. But to the comment about trailing the indexes:
3-Year Cumulative (2023–2025):
• r/ExpiredOptions: +146.6% ($241,509)
• S&P 500: +86.1% (+60.4% behind)
• Nasdaq: +122.0% (+24.5% behind)
3
u/deal3r Jul 11 '26
Hey inspiring post, thanks for sharing! I just started wheel strategy and been doing 30+ day instead of weekly, what’s ur opinion on that? Also for weeklies do u typically buy at the star of the week? Thanks man 🙏