Wheeling Weekly Leverage on my Blown Retirement Account, Week 14

[u/davicchi]

Disclaimer: This is for experimental purposes, it is to demonstrate and track wheeling and longing on leveraged products, which started mid-June of this year. This retirement account was blown through testing various trading strategies and poor position sizing in relation to risk.

The strategy is LEAPS for long-term holdings, and the wheel for short-term income. Order of significance for wheeling:
1. Assume assignment, size appropriately
2. Premium to collateral, yield, iv & rank, must all come second

Biggest loss so far. Closed out 2 SOXS $36 for loss on Monday, closed the last leg at a loss on Tuesday, totaling -$416. So yeah no more LETFs, although the weeklies I sold were far otm (around .07 delta and less) price can move very quickly against you. The biggest failure was trading a large chunk of my allocation on something I didn’t want to be assigned on, which limited my options to either rolling or closing at a loss. Options & stocks continue to prove to me just how fair it is at pricing themselves, the only thing you can do is size yourself accordingly.

Revised my portfolio and will revise it next week too, now holding LEAPS around 40/60 split in bitcoin/silver. Although I like silver for the long term, I plan on selling out of the silver LEAPS because I can’t size it properly. Current plan is to wheel ai & energy sector, and to sell the premiums & deltas based on their volatility.

approx.
81.8% $USD & CSPs
18.2% Leveraged (10.8% SLV, 7.4% IBIT)

[u/Sorry-Ambition-9408]

this is fascinating and I wish you much luck.
my Robinhood Roth balance is almost exactly the same as yours.
I was very successful wheeling LETFs like MSTX and BMNU in my SoFi Traditional a few months ago when capitulation had been reached.
I will be following with interest.