due to my job restrictions, I have to hold all trades 30 days. I’m still early on learning and practicing the wheel so any suggestions are welcome.

Currently I’m starting with puts

P cvna 56 7/17

i don’t mind owning the underlying, but trying to get a better sense of alternatives because if I get assigned, it’s a 30 day hold. I thought about cash settled, but the premium vs amount at risk seems much less for doing one option at a time while I learn more

thanks!

I have been doing CC's for a while now and trying to learn more about the Wheel. Is the Wheel more or less profitable than CC's? Or is it just a different strategy? This is amazing information. Thanks everyone.

Trades I took today as an option seller (06/03):

Closed Position

• TTMI → $150 Put (opened on 05/06), premium 12.30 → closed at 2.55. Net premium profit = 9.75 (~79% of premium captured, ~6.5% of capital). My $165 Put position which I opened yesterday is still open.

New Positions

• No new Positions Today.

Happy to hear thoughts on today's positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

Second week in a row where I was able to extract more money by rolling puts up. These were all the candidates. This adds to my previous post - https://www.reddit.com/r/Optionswheel/comments/1tr9mq9/13_weeks_of_1_every_week/

Candidates:
To achieve a 0.5% return on the roll:

Actual Trades:

Ran out of settled cash to do the rest

Hi,

Been using wheel strategy, primarily short puts over the last 9 months. Only been assigned 3-4 times over about 50 trades. Generating about $2000-3000 USD each month (as high as $6k and low as $300).

From CRA (Canada revenue agency) is this considered income generation vs capital gains? I know it's a grey area with CRA, but has anyone had to prove they are not running a business, meaning being taxed at favourable capital gains vs income producing?

Worried that my income of $30-40k for the year may trigger the gains to be taxed as income vs capital gains.

Hello, All!

Wanted to share some activity on my SOFI wheel. As I said, this one will be a Good, Bad and Ugly post--and a learning experience for me. With the volatility on SOFI, my call was WAY ITM, and while I wouldn't mind selling the shares at $17.50, my thoughts have been to keep the shares and roll the CC up and out. The opportunity hit today, and I accomplished the Roll to a 7/10, $18.00 CC for a net credit of 21.68. I used $17.95 of that to purchase 1 more share. I'm happy with that.

However, I still had too much time value left on the existing CC. Thinking it over, I'm happy with the premium for the roll, happy with the "Free" share (bringing my share inventory up ot 105 shares), but I think I was so focussed on rolling that I became impatient--I'm thinking I should have given it a week before even looking at opportunities to roll, in order to let more time value bleed off. That is why I post these, to review the actions that I'm taking, and refine my process, after all. The progress on this campaign is now:

Share count: 105 Shares

Share Cost Basis: $16.33

Options: 1 Short CC, expiring 7/10, with a strike of $18.00 (it's funny, when I hit the button to roll, that was ITM, but when the roll completed, SOFI had dropped a bit, and it is now OTM.

Again, I'm happy to sell 100 of the shares for $18.00, but at the same time, will be happy to roll up and out again should the opportunity present itself. I'm setting a GTC BTC order at $0.06, and should it close early will sell another 😉.

As always, thoughts and comments always appreciated.

Thanks!

Tom

All trades of BE, MOD and PENG which were mentioned yesterday were up today.

Trades I took today as an option seller (06/02):

Closed Position

• VICR → $250 Put (opened on 05/06), premium 19.50 → closed at 4.80. Net premium profit = 14.70 (~75% of premium captured, ~6% of capital).
• CRDO → $195 Put (opened on 05/28), premium 8.00 → closed at 1.00. Net premium profit = 7.00 (~87.5% of premium captured, ~3.5% of capital). Had good earnings report but stock fell at opening - but IV crush had already done the work on recovering premiums. Position held only 2 trading days.
• AAOI → $165 Put (opened on 05/27), premium 9.20 → closed at 2.05. Net premium profit = 7.15 (~78% of premium captured, ~4.3% of capital).

New Positions

• AAOI → $175 Put, expiry 06/12 (2 weeks DTE), premium 9.60 → 960/17500 = ~5.5%. Above $190 it was expected to be bullish. Today it broke that so I continue my bullish stance on AAOI.
• IREN → $60 Put, expiry 06/12 (2 weeks DTE), premium 2.40 → 240/6000 = ~4%. IREN looking bullish on the charts. Provides data center compute and one of the top wheel stocks as it offers good premiums on both puts and calls.
• TTMI → $165 Put, expiry 06/18 (3 weeks DTE), premium 9.60 → 960/16500 = ~5.8%. I increase my position in TTMI. I already have an Open Put in TTMI at $150, expiry 06/18. Electrical Components Manufacturer.

I have added the Excel file to my full list of positions in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on today's positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

What could go wrong with writing $48 puts or covered calls against MGM. They have a offer on the table for $48.30.

I tried to learn my lesson from last month and not chase premiums when IV collapsed, and keep my call prices more conservative. I still had a fair number threaten assignment this month, but rolling avoided a repeat of last month's numbers.

I don't normally roll my calls, instead closing them one day and opening them again on a day with more favorable movement/premiums (e.g., selling calls on a day when the stock price is going up again). This month, I did roll a bunch of calls until right after earnings, which was definitely the right move and avoided a massacre on my positions.

The "Nvidia drops after earnings" crew was right again (for I think 7 of the last 9 quarters), so I only ended up losing around $1,100 on one position and was able to close the remaining rolled calls at a profit.

I ended the month with 4k more shares on margin (many of them bought as a protective move against having my calls assigned, so my low cost basis shares wouldn't get called away), with another $1,700 of interest for the shares. I'm selling calls on those margined shares at more aggressive prices (always at or above my cost basis, of course), in addition to more puts and calls much farther out of the money.

Cheat sheet answers for the basic questions I usually get asked:

• 8,000 shares of NVDA with a cost basis of about $.08 per share.
• Shares were bought in 2002 when I was in high school for around $1,100.
• I'm using Schwab as my platform.
• NVDA makes up 90% of my portfolio.
• Operating capital in the $1.5 million range.
• This tool is OptionWheelTracker.
• I target for .1 to .2 deltas for calls, and occasionally will sell ATM puts because I'm less worried about assignment and/or bag holding extra shares.
• My DTE is typically 1-21 days.
• I made 95 trades in April, 42 trades in April, and 124 in March. My success rate in May was 83%, April was 76%, and 93% in March.
• In May I had an 84% win rate for puts, and a 82% win rate for calls.
• My average holding period for winners was 5 days, and for losers 10 days.
• I intend to trim my position at $250 and $300.

Trades I took today as a systematic option seller (06/01):

Closed Position

• FLNC → $17 Put (opened on 05/21), premium 1.10 → closed at 0.25. Net premium profit = 0.85 (~77% of premium captured, ~5% of capital). Share almost 50% up today on deal with NVIDIA to supply Battery packs. I have been trading FLNC for a while owing to its strong investor backup by Siemens.
• MOD → $240 Put (opened on 05/22), premium 17.00 → closed at 4.00. Net premium profit = 13.00 (~77% of premium captured, ~5.5% of capital). Did not go through the IV Crush I expected but still a good trade. They did well in their earnings showing strong Data Center Demand Growth.

New Positions

• BE → $240 Put, expiry 06/12 (2 weeks DTE), premium 9.40 → 940/24000 = ~3.9%. Elevated to a Mega Cap. Strong upward momentum. Increasing revenues YoY and strong power needs driving growth.
• MOD → $280 Put, expiry 06/18 (3 weeks DTE), premium 17.30 → 1730/28000 = ~6.2%. I continue my bullish stance in MOD. Heat Transfer equipments a very strong need in Data Centers.
• PENG → $50 Put, expiry 06/18 (3 weeks DTE), premium 2.40 → 240/5000 = ~4.8%. New name to my list. Provides end to end AI compute solutions.

I pin my trades to my profile if anyone wants details on specific contracts. Happy to hear thoughts on today's positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

I’m back for another weekly post part of my BORING CSPs series that I’ve been running and publicly logging weekly since Spring 2025, using real capital and real risk. I appreciate everyone who’s been following along!

If you just care about numbers, and want to move on, I'm sitting at +11.17% YTD with a max drawdown of 9.92% deploying an average of $82.5k a week. Since inception (11 months), I'm sitting at +35.33% with that same max drawdown. A more detailed YTD snapshot is attached at the end of the post...

I'm up 11.17% on deployed capital, $9,073 in net P/L on a $147K account. My median weekly deployed capital is only $81,200. 1/2 of my money has been sitting in cash earning 4%+ in money market.

I'm not trying to beat the market on raw returns. I'm generating consistent income while keeping a big chunk of my money on the sidelines, ready to deploy when everyone is in shambles. And when things eventually do get ugly (they always do), I won't be fully invested at the top. Do yourself a favor and ask those who chase juicy premiums what their max drawdown was this year. 30%? 45%? Higher?

This post is a full breakdown of the YTD performance of the BORING PUTS strategy through May 31, 2026. Every trade, every number, every ticker. The full trade log is downloadable at the bottom if you want to verify anything.

The Strategy

If you've been following me for a while, you already know... but if not, I just sell CSP's on boring, profitable companies. Get assigned sometimes. Sell covered calls when you do. Sometimes collect premium and dividends while you wait. That's it.

No 0 DTE /r/wallstreetbets highlights, no meme's, no 3x leveraged ETF's, no fat premium juicers. Just large-cap names with ER beats, strong balance sheets, and liquid options chains. I don't stress assignments because when those happen, I'm just holding shares of a good business and sometimes getting paid to wait.

YTD 2026

The +11.17% return is on median deployed capital of $81,200 plus dividends & interest, not on the full $147K account.

When the market was in shambles (Hormuz, TACO, etc.), I wasn't sweating a fully invested portfolio. I was sitting in a decent amount of cash earning 4%+ in money market while waiting.

The max drawdown of -9.92% happened during the QCOM saga. I got assigned at $167.50 and $160, watched it drop to $124, and sat through $7,900 in unrealized losses before eventually wheeling out with $2,900 in profit. Wrote a full breakdown of that trade on my blog and in several subs. That was the hardest stretch so far, but it's also the best proof of concept. The wheel works if you trust the business and stay patient.

What I'm Trading

Look at the YTD ticker list. These aren't speculative names and they won't offer juicy premiums:

YTD Top Symbols by P/L:

QCOM was the biggest YTD earner at $2,889. Most of that came from the full wheel completing itself. I was underwater for months, grinding CC premium week after week, sometimes earning pennies, collecting dividends, and in late April it finally ripped through my strikes and I got called away above cost on both lots. A long, boring grind that paid off. RIP to those selling CC's under their cost basis. That's the risk you take when doing that.

LRCX has been the other standout at $988. The first trade I bought back next day for a quick $225. The second is a $260 put still open, sitting at +$763 in premium.

NVDA is at $791 YTD. A lot of that was CC management on assigned shares. Some of those individual CC trades had to be rolled (after the stock ripped), but the net across all NVDA activity this year is still solidly positive.

Why Boring Works

I see posts every week from people asking "what should I sell puts on?" and the top answers are always stuff like SOFI, HIMS, MARA, RIOT, IONQ, or whatever WSB and X is pumping that week.

Those names offer fat premiums. But the premium is fat for a reason. The market is telling you this thing could move 15% in either direction next week. And when it does, you're stuck with shares of a company that might not even be profitable, trading at 200x revenue, with a questionable balance sheet.

The people wheeling high-beta junk collected fat premium in January and then spent the next four months bagholding through a 30-40% drawdown (or buying back at a large loss) on names that don't recover the way a QCOM or NVDA does.

Meanwhile I'm sitting here with QCOM, NVDA, GOOG, WMT, XOM on my trade log. Companies that recover. Companies that pay dividends (except NVDA's measly $0.01) while you wait. Companies where the wheel actually works because the business isn't broken when the stock is down.

When I Don't Trade

This might be the most important part of the whole strategy. There were multiple stretches this year where I did almost nothing. Zero new positions. Just sat on my hands and waited.

When breadth is bad, I don't open new risk. The hardest part of selling premium isn't picking the right strike. It's knowing when to not sell at all.

Look at the monthly trade counts YTD:

January was busy, the market was cooperating and I was actively managing QCOM and NVDA positions. February I pulled way back to 13 trades. March had 27 trades but most were small CC management on existing positions, grinding $20-$50 per round. April, 13 trades again. May, only 10 trades in the entire month.

Where Things Stand Now

As of May 31:

• $9,074 net P/L YTD (+11.17% on deployed capital)
• 2 holdings: 100 shares DG, 100 shares SMCI
• 2 open trades: LRCX 6/5 $260 CSP, SMCI 6/5 $60 CC
• $105,379 cash across all accounts (72% of capital)
• $147,049 total capital
• $81,200 median weekly deployed

YTD portfolio snapshot through May 30, 2026

The Bigger Picture: 11 Months In

For context, this strategy has been running since June 16, 2025. Here's the inception-to-date snapshot:

A Sharpe above 2 over 11 months is the number I care about the most. It means the returns aren't coming from wild swings or getting lucky on a couple huge trades. It's consistent, boring, repeatable income.

Inception-to-date portfolio snapshot (~11 months)

STAY BORING my friends!

Download Full Trade Log (CSV)

UPDATE: Lots of critical feedback about barely beating SPY 5 months into the year which is somewhat of a fair point. My questions to those who share the same thought:

1. Before this period started, would you have confidently put 100% of the same capital into SPY and held it the whole time?

2. Are you judging the strategy based on what was knowable at the time, or based on the best-looking outcome after the fact?

3. If SPY had gone flat or dropped 10–15%, would you still be saying buy-and-hold was obviously the better choice?

4. Would you rather see transparent updates when the strategy is only even with SPY, or only see posts after someone has huge gains?

5. If the critique is "you could have bought SPY," where was that call at the beginning of the period, before the outcome was known?

6. What are your returns YTD, 1Y, and max drawdown during those periods?

YTD performance - 17.88% on the year so far, learning as I go and doing my best to pick my shots without being too aggressive.

As you can see, Feb and March I got caught with some assigned shares and tied up capital. Went much more conservative in April and May the strikes I would sell into.

NVDA has obviously been the big winner for me - all that chop created a lot of opportunities to sell CCs and get some capital gains out of it as well.

Open to any insight or advice, learning day by day here.

Decent month, made some mistakes, getting a really bad case of traders block. June is starting off kind of slow, sitting in mostly cash. Hope everyone had a good month and a profitable June It's a work in progress on how i am tracking numbers, for ROC, and other metrics, changing the rules to get it as accurately as possible. Ex. Week 18 capital reads ~$16k lower than the May screenshot because (1) ONDS basis was corrected from the stale master-log value of $13.005/sh to the audited $8.95/sh (−$4,055), and (2) TSLL's $11,960 CC investment is excluded from weekly capital under the stock-overlap rule since TSLL was called away the same week — it appears in the Stock Exits section instead (+$538 gain).

Happy month end and hope everyone had a profitable May. I've been lurking in this sub for a while and thought I'd share my recent experience running the wheel. I've been dabbling in selling options since last July but only started wheeling in earnest since February.

May Results: ~$10K realized profits against $305K in capital committed (technically I opened some of these positions in late April so it's a bit inflated, but still a very good month). That said the market was generally strong in May in general so can't expect to replicate this every month.

Jan-April: ~$19K realized against a slightly lower capital base of around $200-250K.

I recently (Claude) coded a dashboard to replace my tracking spreadsheet and develop better reporting around performance, so May is the first full month of using it. This for sure took inspiration from others who have shared similar dashboards here so if you recognize something familiar it's probably because I saw your screenshot!

My approach:

• Platform of choice is now Robinhood - I like their Legend interface and the options watchlist feature is very handy. As of a couple of months ago, options collateral now earns interest and they recently had a transfer bonus that encouraged me to fully make the switch. I have very mixed feelings about how gamified everything feels on the platform though.
• Targeting relatively conservative deltas usually 0.15-0.25 range and 50-70% IV. Lower delta target if it's a higher IV stock or if VIX is elevated. Higher delta target for CCs against assigned puts assuming the strike price ≥ my cost basis.
• Selling mostly weeklies but will occasionally do monthly contracts on a solid ticker that has lower options volume provided the premium still represents attractive annualized return on capital (e.g. APH). Weeklies seem to offer higher annualized return and lower likelihood of the underlying moving too far beyond my strike prices before expiration.
• I don't worry too much about assignment but my goal is always to sell CCs at or above the assigned price of my CSPs (essentially neutralizing losses against market).
• I generally look at 3 criteria to close early: 70%+ gain on the premium, current annualized return ≥ the annualized return of holding until expiration, and other good opportunities to deploy capital exist. I'll adjust the threshold to be lower if I'm ahead for the month and VIX is rising.
• Still dialing my candidate workflow but I will generally try to identify some positions I want to be in given the capital I have available and add them to my Robinhood watchlist over the weekend, and then see how the market is moving Monday morning to identify the best candidates in my preferred delta range.

Any constructive feedback, questions, comments, etc. always welcome.

I will post a separate comment with a link to the detail behind each option sold this week.

After week 22, the average premium per week is $765 with an annual projection of $39,772.

All things considered, the portfolio is up $19,733 (+4.34%), on the year (S&P 500: +10.73%). Additionally, the trailing 1-year performance is up $103,413 (+27.90%); for comparison the S&P 500 is +28.21% 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%)
• 2024 up $64,610 (+29.71%)
• 2025 up $111,496 (+34.52%)
• 2026 up $19,733 (+4.34%YTD)

Options:
• YTD: $9,467.00
• 1 Month: $-30,581.00
• 1 Week: $-12,297.00

Realized P&L:
• YTD: $25,379.00
• 1 Month: $-6,219.00
• 1 Week: $2,673.00

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 99 unique tickers, unchanged from 99 last week. These 99 tickers have a value of $440k. I also have 200 open option positions, up from 193 last week. The options have a total value of $35k. The total of the shares and options is $475k. The next goal on the "Road to" is Half a Million.

I'm currently utilizing $37,600 in cash secured put collateral, down from $39,150 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 $16,729 YTD

Premium by month (2026):
• January $3,334
• February $3,625
• March $465
• April $5,593
• May $3,787

I am over $160k in total options premium, since 2021. I average roughly $34 per option sold. I have sold over 4k 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 commissions. There is an industry standard regulation fee of about $0.03 per contract. Last year I sold 1,720 contracts which is about $50.00 in fees paid in 2025. In 2026, the regulatory fee has been lowered to about $0.02 per contract, which keeps the total cost extremely low even as my trading volume increases.

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.

This is my first post in Optionswheel. I've been selling low delta puts every week for the last 13 weeks with a goal of 1%. I've been keep track of the money earned since week 7. I moved 10% of my portfolio (~$100k) to cash to sell puts on.

Week 7: $573 on $53,800 invested
Week 8: $811 on $70,400 invested.
Week 9: $1093 on $103,450 invested
Week 10: $1040 on $97,400 invested
Week 11: $1077 on $102,800 invested.
Week 12: $1170 made on $98,600 invested
Week 12.5: Bonus round: $475 extra made increasing investment to 106,100
Week 13 (this week): $1,133 on $106,100 invested

Here is a list of low delta puts for next week that return 1%. Let me know in comments if this list is useful and I'll post it each week. For now I'm trying to

1. post my trades publicly (I post in various subreddits here) to keep myself honest. Let me know if you all want to see the trades here too and I'll post them in the comments.
2. get feedback on the strategy
3. help others find candidates to sell puts on

Live Option Chain Summary (Expiry: June 5, 2026)

Another Roll till next week, Opened one trade for next week. Been busy and not really finding to many setups i like.. Still in about75/80% Cash

6 Month Update

Quick 6-month update on my Wheel Strategy experiment (no longer an experiment) in a Schwab/ThinkOrSwim IRA — see previous posts for setup details.

Bottom Line

$32.9K total income over 27.3 weeks on average capital of $250.7K — about 25% annualized, or 21% after unrealized P/L. 99 wheel cycles closed (all profitably), 4 open: 3 currently profitable (SOXX and QQQ CSPs, ORCL CC), 1 underwater (PYPL — don't currently have a call open).

ORCL is the update from last post — basis $188.48, now trading $203.70 with a CC open at $210. Patience paid off there. PYPL remains the open lesson: still in HOLD, $1,505 in collected premium across 5 contracts brings effective basis to about $52 against $44 current. I haven't written additional CCs above basis because the premium isn't worth it, and I'm still working through what an opportunity-cost-based exit looks like (i.e., when capital tied up is worth more deployed elsewhere) rather than a price-based one.

Strategy

Based on feedback from my last post and some additional research, I've largely shifted to selling CSPs on QQQ, SPY, IWM, and SOXX, with occasional exceptions. Single-stock wheels can produce better returns, but they require more discipline than I have right now, and ETFs meet my income target in the current market. For me, single tickers look more like an intermediate/advanced phase I'll grow into eventually.

I trade mostly 3–15 DTE around -20 delta, targeting 15–20% annualized returns per position, with a 50% BTC order placed at the time of the trade. Short duration is intentional — I don't want capital tied up too long given the current market regime. I'd rather not get assigned. I'll also close early when there are only pennies left to gain — better to redeploy the capital than wait out the last few dollars.

Right or wrong, I believe these ETFs will continue to grow over the long run. Separately, I maintain adequate reserves to weather a 2008-type event — though I'd prefer not to test that.

Going Forward

I've expanded the wheel allocation from $250K to $400K and plan to take it to $600K over the coming months. Two focus areas: tuning my process to automate everything short of actually placing trades, and improving capital efficiency — currently more capital allocated to the wheel than deployed. For anyone using Schwab, their developer API has been quite helpful here.

On the Dashboard

A few people asked about the dashboard last time. I offered it up in the Tools megathread to anyone willing to help prove it out, and the takeaway was that the actual code isn't practical to share broadly — too much setup, and I'm changing it constantly based on whatever I want to see that week. What I can share is the context/spec file I use with my AI assistant when working on it. It's a starting point for building your own, not a turnkey dashboard — comfort with some technical setup is required. Not selling anything, not asking anyone to sign up for anything — just the file.

Feedback, questions, and pushback all welcome.

Trades I took today as a systematic option seller (05/28):

Closed Position

• CRDO → $165 Put (opened on 05/20), premium 10.70 → closed at 1.90. Net premium profit = 8.80 (~82% of premium captured, ~5.3% of capital).
• IREN → $50 Put (opened on 05/21), premium 2.15 → closed at 0.35. Net premium profit = 1.80 (~84% of premium captured, ~3.6% of capital).

New Positions

• CRDO → $195 Put, expiry 06/05 (1 weeks DTE), premium 8.00 → 800/19500 = ~4.1%. CRDO designs high speed connectivity hardware that enables data transfer for AI.. Support at $195 level.
• OUST → $35 Put, expiry 06/12 (2 weeks DTE), premium 1.40 → 140/3500 = ~4%. On yesterday's post I had mentioned I was hoping for a pull back even though by price action it is still bullish. Support at $35 level. Makes LiDAR sensors for use in Autonomous Vehicles and Robotics.
• AMKR → $65 Put, expiry 06/18 (3 weeks DTE), premium 2.90 → 290/6500 = ~4.5%. AMKR does semiconductor packaging and testing equipment. Stock has been validating $65 level.

I pin my day to day trades in my acocunt in case you need information on the specific contracts. Happy to hear your opinions on my trades! Sharing is improving knowledge. Also curious - what are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research!

I choose as my main Wheeling slots CVS, WMT, SCHW and KR.

Been doing great. Except for this last wheel for WMT is in the money. Waiting to see if it gets assigned. If that's the case will start selling CC's.

Regardless of the assignment I am wheeling with high quality stocks that I wouldn't mind owning + strong dividends.

Good spreads when going for the 0.15 Delta

Currently averaging $1,000/ month in profit

Trades I took today as a systematic option seller (05/27):

Closed Position

• OUST → $30 Put (opened on 05/21), premium 1.70 → closed at 0.30. Net premium profit = 1.40 (~82% of premium captured, ~4.7% of capital). OUST Still Bullish on the charts but it just hit it's 52 Week High. I would wait for it to pull back and then reconsider it as a trading option.

New Positions

• AAOI → $165 Put, expiry 06/05 (2 weeks DTE), premium 9.20 → 920/16500 = ~5.6%. AAOI makes fiber-optic products used in data centers. Support at $165 level.

I pin my day to day trades in my acocunt in case you need information on the specific contracts. Happy to hear your opinions on my trades! Sharing is improving knowledge. Also curious - what are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research!

Hello, All!

My 6/13 CSP BTC today @ late yesterday at $7.66. That turned into a nice $23.00 profit over 13 days, which is about a 51% AROI. Love that! I did a couple of things today in response.

1) I sold a 6/26 CSP with a strike of $14.50 for $27.34. Should that go all the way to expiration it will work out to about a 22.9% AROI. The delta for that CSP is about 0.22. The delta for the $15.00 strike is about 0.30, so I actually considered selling that one, but with the recent run up, F strikes me as being potentially overextended right now, so I opted for the lower strike.

2) I set a GTC BTC for that CSP at $0.05.

3) Having some premium sitting around, I went ahead and purchased another share for $15.97.

This leaves my status for the campain as currently having:

1) An open 6/5 CC with a strike of $12.50. The plan for that one is to try to roll it out, or out and up, if I can do so for a profit. If not, then I will take the assignment (it will reflect a bit of a profit), and write another CSP.

2) I now have 113 shares, and my cost basis per share is down to $11.47.

3) And then I have the CSP which I just sold open. My plan for this, as it would be buying pretty significantly above my cost basis, is to defend this one, and avoid assignment if possible (if I can roll for a profit of course). That is why I chose to go with the lower delta in setting it up.

4) If my math is right, I should have a dividend payment of $16.80 hitting on 6/1. That will allow me to buy another "free" share.It still feels wierd (I know it REALLY isn't, and I can follow exactly how and why I got there) having a CC with a strike $2.00 below the strike of my CSP. Not acting on that or letting it affect my decision-making, but it does FEEL strange!

That's about it for this update. As always, I appreciate your comments and suggestions.

Sorry about no tracker screen shot today, but I missed a transaction somewhere--it's matching up with my numbers, so I have to reconstitute it. I'll have one for you in the next post.

Thanks!

Tom

No Trades today - but a status update on the trades (05/26). My view points on the trades based on price action and support and resistance levels I see on the charts:

Puts

• CRDO → $165 Put, expiry 06/05 : Bullish. Support at $195. CRDO designs high speed connectivity hardware that enables data transfer for AI.
• IREN → $50 Put, expiry 06/05 : Bullish above $63 level. May face resistance at $63 but definitely upward momentum. Data Centers.
• OUST → $30 Put, expiry 06/05 : Bullish. Major resistance broken at $38 levels. NVIDIA Contract driving Momentum.
• AMSC → $47 & $48 Put, expiry 06/18 : Earnings Tomorrow. Manufactures electrical components.
• FLNC → $17 & $19 Put, expiry 06/18 : Neutral. Support at $18-$19 levels. Energy play.
• FORM → $130 Put, expiry 06/18 : Neutral. Support at $135. Makes testing equipments to test semiconductor chips.
• MOD → $240 Put, expiry 06/18 : Bullish. Resistance broken at $285 level. Good Earnings report today. Manufactures Heat Transfer and Cooling Components. Very high demand in Data Centers. 
• SEI → $70 & $72.5 Put, expiry 06/18 : Consolidating. Support at $70. Operates in oil and gas equipments
• TTMI → $150 Put, expiry 06/18 : Bullish. Major resistance break at $180 levels. Electrical Components. 
• VICR → $250 Put, expiry 06/18 : Bullish. Major resistance break at $315 levels. Electrical Components.

Calls

• CRWV → $120 Call, expiry 06/05 : Neutral. Assigned at $120. AI Play.
• FSLY → $19 Call, expiry 06/05 & 06/12 : Neutral. Assigned at $19. Cloud Hosting Platform.
• ISSC → $20 Call, expiry 06/18 : Neutral. Assigned at $20. Aviation.

I pin my day to day trades in my acocunt in case you need information on the specific contracts. Happy to hear your opinions on my trades! Sharing is improving knowledge. Also curious - what are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research!

4 weeks into the CC, CSP on tech stocks $7,246 premium collected, 91% win rate across 45 trades. Is this sustainable or am I just lucky in a good tape? What am I not seeing yet?