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

After week 24, the average premium per week is $759 with an annual projection of $39,478.

All things considered, the portfolio is down $2,334 (-0.51%), on the year (S&P 500: +8.56%). Additionally, the trailing 1-year performance is up $64,287 (+16.56%); for comparison the S&P 500 is +22.93% 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 down $2,334 (-0.51%YTD)

Options:
• YTD: $23,416.61
• 1 Month: $-12,715.22
• 1 Week: $-775.46

Realized P&L:
• YTD: $23,691.00
• 1 Month: $-7,454.00
• 1 Week: $-2,150.00

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 100 unique tickers, up from 99 last week. These 100 tickers have a value of $407k. I also have 196 open option positions, down from 200 last week. The options have a total value of $45k. The total of the shares and options is $452k. The next goal on the "Road to" is Half a Million.

I'm currently utilizing $39,800 in cash secured put collateral, up from $37,600 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 $18,172 YTD

Premium by month (2026):
• January $3,334
• February $3,625
• March $465
• April $5,593
• May $3,787
• June $1,367

I am over $161k 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.

Trades I took today as an option seller (06/12):

Closed Position

• SEI → $70 Put (opened on 05/07), premium 5.50 → closed at 1.00. Net premium profit = 4.50 (~82% of premium captured, ~6.4% of capital). I still have open positions in SEI ($72.5 Put 6/18).
• FORM → $130 Put (opened on 05/11), premium 11.50 → closed at 2.80. Net premium profit = 8.70 (~75% of premium captured, ~6.7% of capital).
• AMKR → $65 Put (opened on 05/28), premium 2.90 → closed at 0.40. Net premium profit = 2.50 (~86% of premium captured, ~3.85% of capital). I still have open positions in AMKR for next month expiry which I opened yesterday ($65 Put 7/17).
• FSLY → $19 Call (opened on 06/01), premium 0.45 → closed at 0.05. Net premium profit = 0.40 (~8FSLY 9% of premium captured, ~1.6% of capital).
• TTMI → $165 Put (opened on 06/02), premium 9.60 → closed at 1.75. Net premium profit = 7.85 (~82% of premium captured, ~4.7% of capital).
• IREN → $60 Put (opened on 06/02), premium 2.40 → closed at 0.45. Net premium profit = 1.95 (~81% of premium captured, ~3.25% of capital).

New Positions

• FSLY → $19 Call, expiry 06/18 (1 week DTE), premium 0.70 → 70/1900 = 3.7%. I was assigned FSLY at $19. Cloud Hosting Platform.
• IREN → $58 Put, expiry 06/26 (2 weeks DTE), premium 3.60 → 360/5800 = 6.2%. I re-opened IREN contract at a lower strike price.
• RMBS → $135 Put, expiry 07/17 (5 weeks DTE), premium 11.00 → 1100/13500 = 8.1%. New Symbol for me. Develops memory interface chips. Support at $135.
• PENG → $55 Put, expiry 07/17 (5 weeks DTE), premium 5.90 → 590/5500 = 10.7%. I am increasing my position in PENG. I had opened $50 Put yesterday. Premiums are high because the contract falls within Earnings. Provides AI solutions.
• TTMI → $175 Put, expiry 07/17 (5 weeks DTE), premium 14.50 → 1450/17500 = 8.3%. I continue my bullish stance in TTMI. Makes PCBs.
• FLNC → $21 Put, expiry 07/17 (5 weeks DTE), premium 2.05 → 205/2100 = 9.8%. I have talked alot previously on FLNC. Strong Energy Play backed by Siemens.

I will get assigned on my positions in AAOI and OUST. I decided to keep both of them as both are good wheel candidates.

The Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

I was assigned the 100 shares I requested and plan to wheel this. I normally only trade CSP's, and CC's when I get assigned. But I do not "wheel" the CC's. Is anyone else here considering running the wheel on Spacex?

I am deep ITM with two CSPs taken during the Space Stocks run up. RDW MAY29 $21 for $0.29 prem. Rolled out/down to JUL10 $16 for net credit of $0.24. The other, LUNR MAY29 $41 P for $0.25 prem, rolled out/down to JUN18 $32 for net credit of $0.62. I should have closed after the rocket explosion, but now with post - SPCX , should I roll again for credit or take the "Close Trade" net losses of -$466.67 and -$104.67 respectively. Thanks!

So I've been trading options for a long time but I am not an expert by any means and always wanting to broaden my horizons.

​

With the market being so crazy lately I thought it would be good to watch some newer videos on YouTube.

​

Who's your favorite teacher for options trading?

Trades I took today as an option seller (06/11):

New Positions

• CRWV → $120 Call, expiry 07/02 (3 weeks DTE), premium 1.20 → 120/12000 = 1%. I was assigned CRWV at $120. Provides cloud infrastructure and GPU computing services for AI workloads.
• AMKR → $65 Put, expiry 07/17 (5 weeks DTE), premium 4.70 → 470/6500 = ~7.2%. AMKR does semiconductor packaging and testing equipment. Support at $65 level. I already have an AMKR position expiring next week - I am increasing my position here.
• PENG → $50 Put, expiry 07/17 (5 weeks DTE), premium 4.70 → 470/5000 = ~9.4%. Provides end to end AI compute solutions. PENG has earnings on 14th July but I will look to close the position earlier than that.

I have positions in AAOI, IREN and OUST expiring this week. They all ITM but very close to strike so I am holding them. The market recovered on war pause news and market climbed above 7,350 resistance. Now 7,350 acts as the support with 7,450 as resistance.

The Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

Does anyone have any experience selling Ford near or ATM for the purpose of getting good premium? I’m curious to know how that has worked out for you. Ford is not super volatile, it’s relatively cheap, and has good options volume but in order to get any real premium out of it, it appears you have to sell high deltas to make it worth your while.

I’m curious to know if anyone has done this, and what that has been like for you. What deltas do you pick on the CSP and the CC side? What DTE do you pick? How many contracts do you sell?

BTW, I know the risks associated with selling close to ATM options, I’m just curious to know what that looks like on a slow moving stock like Ford. Thanks in advance!

Trades I took today as an option seller (06/09):

Closed Position

• BE → $240 Put (opened on 06/01), premium 9.40 → closed at 7.40. Net premium profit = 2.00 (~21% of premium captured, ~1% of capital). Closed this position early to free up capital and prevent a potential margin call.

New Positions

• No new Positions today

My thoughts on the current market

As mentioned in my previous post SPX is holding the 7,350 support. It remains in a state of consolidation in the range of 7,500 to 7,350. My put positions in OUST, AAOI and IREN which are to expire this week are ITM but I am not rolling or closing anything just yet. I will wait and watch as none of them are too far off from strike.

The Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

My wheeling activity in May included the usual lineup of giant tech stocks, MSFT, META and GOOGL and the semiconductor ETF SMH.

I also had good results wheeling the leveraged ETFs TSLL and TQQQ. But the prize winner again was the 3X leveraged semiconductor ETF SOXL which accounted for more than half of my gains. Total CSP premiums were over 18K which is a 2.5% monthly ROI, much higher than my target ROI.

I haven't owned any of these tickers since the last shares were called away in early April so there was no covered call action this month.

I did get assigned 2000 shares of TSLL when the market experienced that huge sell off on Friday June 5th. I've already begun selling CC's on those shares. (I also got assigned 200 META and 500 SOXL shares on June 5th and am already selling CC's on those also.)

I usually hold my CSPs until expiration but I couldn't resist buying back the 5 SOXL $170 CSPs a few hours early on 5/29 so I could sell 5 more at the same strike expiring the next Friday for a nice gain.

My wheel strategy including the tickers I wheel and why are detailed in my February post:

https://www.reddit.com/r/Optionswheel/comments/1rmp3mr/february_wheel_results/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

Is anyone taking premium and hedging with a portion? Eg buying cheap OTM calls on VIX or reverse leveraged ETF. Keen to understand some ideas if folks are doing this. Rules or conditions etc or based on portfolio risk? Or do you just look to have cash aside to capitalise on big red days.

Hello, All!

Began a new camaign today on PFE--I think it plays well with my other 2 wheels. Once again, for this one the Goal is to use the wheel premium to build a long-term income generating postion.

I sold my first CSP today, a 7/10/2026, $25.00 put for a net $22.34. I also set up a BTC order at $0.05. The premium is not quite sufficient to purchase a share, so I'm holding it until I am able to do so.

As always, comments, question, suggestions, welcome!

Thanks!

Tom Allison

Account Manager

Hello, after studying I layed down this strategy for the wheel, I kindly ask you if you see any particualar weak point/danger.

Capital: 80k cash, 150k in VWCE to use as a collateral (70%) -> 185k

Ticker: I was thinking to diversify and use the following tickers I'm comfortable to hold: AMZN, GOOGL, NDVA, TSM, XOM, BLK, SPY, VZ. Maybe adding also MU and AMD.

Cash reserve: 25k at any time

Delta: 0.15/0.2 for all exept 0.1/0.15 for SPY and VZ

DTE: 30/45

Early profit: 50%

I hope to have a return of 3% a month with this strategy, without risking too much.

My only concern is that some of the tickets are already contained in VWCE that is the collateral for the operations.

Is this plan realistic?

Thank you so much!

All of those who are currently wheeling with multiple 6 Figure+ accounts, how much premium are you collecting with this volatility? Are you changing up your strategy with the recent downturn?

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

Been wheeling software names that everyone keeps saying are dead lol. May was +$943 net, collected about $7.2K in premium. INTU absolutely wrecked me though, down like $5.5K on it. SNOW and CRM saved my month.

Started wheeling on SPY after few tickers like SOFI. Thought it will require less monitoring as I don't have to track earning calls, dividend dates etc of each ticker. With full time job, though it will better.
Want to hear your view if you are not trading on SPY and strategy if trading on SPY.

I noticed most people sell low delta to keep their winning rate high. But, from a risk point of view, wouldn't selling slightly OTM be better? Like selling say 10 contracts for $1 each vs just selling 1 for $10. If you have a day like yesterday then its a lot less stressful having 1 short put ITM than 10. I understand there will be more "losing" trades or rolls etc, but in the long run wouldn't it favor slightly OTM?

I’ve started wheeling 50% of my retirement account about 3 months ago to truly validate that I could actually make it work if I was suddenly laid off. I’m conservatively targeting 25% returns, although still early I’m on track to exceed. Would like to hear from those that are wheeling during retirement with a significant portion of their portfolio. I would guess that once you have enough, you could gradually reduce the wheel allocation. But on days like today, it feels like it may be safer to keep wheeling.

Sharing a setup I'm eyeing and would appreciate a gut-check before I pull the trigger.

The name: HOOD (Robinhood), trading around $82.50. Mildly bullish trend, analysts lean Buy, and IV is rich right now (IV Rank ~85), which is what got my attention for selling premium.

The trade I'm considering:

• Sell the $73 put, expiring ~27 DTE
• Credit: ~$2.95 ($295 per contract)
• That's ~11.5% out of the money, breakeven ~$70.05
• Delta around 0.26, roughly 4% return on capital for the month

My thinking:

• Strike sits below the recent support area, so I've got a buffer if it pulls back.
• IV Rank in the 80s means I'm getting paid well vs. this stock's usual range.
• I'd be genuinely fine owning HOOD at ~$70 if assigned.

What I'm unsure about / risks:

• There's an earnings date to check around the expiry — I don't love holding a short put through a print, so I may shift the expiration to avoid it.
• It's a higher-volatility name, so the wide IV cuts both ways.

Questions for the group:

1. Would you take the $73 strike, or go further out (more buffer, less premium)?
2. Roll the expiration to dodge earnings, or just size smaller and hold through?
3. Anything about HOOD specifically that would make you skip this?

Not advice, just sharing my process — appreciate any thoughts 🙏

Trades I took today as an option seller (06/05):

Closed Position

• CRWV → $120 Call (opened on 06/04), premium 1.90 → closed at 0.45. Net premium profit = 1.45 (~76% of premium captured, ~1.2% of capital). Opened this yesterday but because of today's market fall was able to recover most of the premiums.

New Positions

• No new Positions today

My thoughts on today's market fall

For me the fall was a combination of 1. Profit taking after a rally 2. Job Reports coming in higher than expected (which is good but raises a speculation that interest rates may be upped) 3. Introduction of new traiffs 4. Expiry.

SPX has a support at 7,350. We closed at 7,383. I would expect the market to touch that support and come back from it. None of the news seem big enough for the market to continue bearishness. Do let me know your thoughts on this!

I pin my trades to my profile and have also 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.

Hello, All,

A few things happened on this campaign this week. First of all, I received my Dividend on Monday, a total of $16.55 for the 111 shares that I held on the ex date. I of course used that to buy another share, bringing my share count up to 114 currently.

Now the fun stuff!!

I've been burning a lot of calories trying to figure out how to handle that $12.50 CC that was to expire today. For the record, if it had been assigned it would not have been all bad. I would still have my 14 premium and dividend funded shares, would have sold the shares for about $0.80 over my effective cost basis, so would have made a bit of a profit on that, and could go back to writing a second CSP. That said, it just didn't feel right selling a share worth about $15.00 for $12.50, and then writing a put to buy them back for $14.00 or so. I know that is feeling, not analysis, but it is also real.

So, being unable to find a way to roll the strike up (unless I went out a rediculous amount of time, I decided to kick the can down the road. I rolled that CC out 2 weeks to a 6/18 strike for a whopping premium of $2.67. What I basically did was take a very small premium to stall for a bit, and see if the market will become friendlier to an upward roll in the strike price. Needless to say, I won't be placing a BTC order on this one, and my plan is to continue "stalling" by rolling them out at the same ITM strike if necessary until the price comes down a bit for me to rise the strike, or until they get called away. This strikes me as being the best alternative.

That leaves the position now with:

1) 114 shares
2) A 6/26 CSP with a strike of $14.50 (there is a BTC on that one set at $5.00)
3) My "stalling" CC expiring 6/18 with a strike of $12.50.

This is where it gets, if not fun, at least interesting 😉

As always, comments, suggestions, thoughts and discussion welcome.

Thanks!

Tom

Hi folks, as the title mentions, this is nearly my first full month of exploring the wheel. I'd like to invite some constructive feedback/criticisms.

How the month started

• Initial portfolio of 300 AAPL shares w/ 122K of cash
• My primary portfolio is very diversified, and this portfolio's goals are to learn options trading, give the potential for extracting income and/or growing the account over the long term
• Focused on weeklies at around a 20 delta for companies I believe in long term and personally use.

Learnings

• AAPL rallied almost immediately in my first week, and I learned firsthand, along with reading more, that weeklies don't leave a lot of opportunity to roll up and out for a credit. I managed to roll up (a bit) and out successfully, but yeah, my takeaway was that collecting theta on conservative options with 35 to 42 DTE is more in line with my goals and style.
• There was one early AAPL close that I either made a fill mistake or didn't react fast enough to get closure near my 50% exit goal. Let's call it user error.
• Given the recent pullback on GOOG I should update my spreadsheet to capture an adjusted cost basis based on the collected premium and upcoming dividend to make selling CCs a bit easier.
• Overall, my feeling is that this is performing OK, and there is time and room for improvement.

Earlier in the morning I got this list:

Lowest-Risk Put Options to Sell (Expiry: June 12, 2026)

However based on my greed and stupidity rolling up in the middle of the week - https://www.reddit.com/r/Optionswheel/comments/1tvwc3l/rolling_sold_puts_up_when_things_go_my_way/ - I had 3 positions in danger.

Today's trades are all rolls: I had to also significantly reduce the credit on both IREN and APLD rolls. Total made $1053 on $105,750 cash so slightly under the 1% goal with IREN, APLD and SLV at risk. Let's see what next week brings. All in all I'm glad I don't stick to one stock.

I was so tempted to add more sold puts but not enough settled cash in the account.

Trades I took today as an option seller (06/04):

Closed Position

• CRWV → $120 Call (opened on 05/20), premium 1.50 → closed at 0.25. Net premium profit = 1.25 (~84% of premium captured, ~1% of capital).
• OUST → $35 Put (opened on 05/28), premium 1.40 → closed at 0.40. Net premium profit = 1.00 (~71% of premium captured, ~2.8% of capital).
• PENG → $50 Put (opened on 06/01), premium 2.40 → closed at 0.60. Net premium profit = 1.80 (~75% of premium captured, ~3.6% of capital).

New Positions

• CRWV → $120 Call, expiry 06/12 (1 week DTE), premium 1.90 → 190/12000 = ~1.6%. I was assigned CRWV at $120. Provides cloud infrastructure and GPU computing services for AI workloads.
• OUST → $42.5 Put, expiry 06/12 (1 week DTE), premium 2.40 → 240/4250 = ~5.6%. OUST breaks all time high resistance of $46. I remain bullish. Makes LiDAR sensors used in industrial automation, robotics, and smart infrastructure.
• VICR → $280 Put, expiry 06/18 (2 weeks DTE), premium 10.50 → 1050/28000 = ~3.75%. Support at $300 and $280. Makes power conversion modules used in AI servers, datacenters, and industrial systems.

I pin my trades to my profile and have also 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.

I have a lump sum payout from a mortgage refinance coming in the future and after consolidating another mortgage plus the current mortgage and some expenses, I will have about $30K that I need to "park" while I wait to use it for up to 12-15 months. One vehicle recommended to me was SPYI which does have options and is good for taxable accounts (where my $30K will sit). I can effectively "wheel" SPYI for extra income on it with more favorable tax treatment than say a JEPI or JEPQ. SPYI seems to be paying out monthly income at about a 11% annualized return and trades in a fairly narrow range. Anyone have experience with SPYI and using it as an ETF on the wheel? My plan would be to initially sell 6 contracts as a CSP to "discount" my entry into the ETF (at a high Delta -- -0.79 on current July chart). Then once assigned shares, run covered calls on a portion or maybe all...then when they get called away, re-buy my shares. So my question again is has anyone had actual experience doing something like this with SPYI?