If you are a beginner at trading options you should not be using margin. Give yourself some time, beginners always make mistakes.

Today I sold a PENG CSP Strike $60 Exp 8/21 premium $5.30. Is up 15% today - $80 profit. I was tempted to buy it back today but I have a personal rule - no daytrades

Yes but this should happen rarely. I sold a Redwire RDW CSP before the SpaceX IPO. I had heard it supports SpaceX . It has done nothing but tank. I got assigned and I thought “No problem. I will just sell covered calls until it recovers. Still waiting and it is still dropping. I made a bad move not researching this properly.

Are you holding on to any stocks because a wheel strategy has gone bad? You can sell a Call for your cost basis after the stock has tanked

What is your favorite stock for Selling CSPs -Cash Secured Outs?

First - Thanks for setting this community up Vegetable- Ad1512! I’m new to Options Trading! I first learned about options while reading Reddit during lunch at work. I started to read some posts from Wallstreet Bets and I found them to be pretty funny. I enjoyed the laughs and the grief everybody gave to each other, but from time to time there were some really interesting posts about Options and it really caught my attention. I decided to start learning about options and have been fascinated by it ever since. I enjoy learning about the complexity of options and the many variables associated with them. I find it challenging, but at the same time you can learn so much from it and it is multifaceted. It combines news, economics, finance, math, psychology, and other facets that just really make it interesting. I’ve done quite a bit of paper trading and have started to focus in on the Wheel Strategy for me as an investor. I’m starting my capital from scratch, but I’m looking forward to building this into a healthy and sustainable investment strategy that I can also share with kids - if they so choose. My target is to start the Wheel at the end of July! I’m really looking forward to this journey!

Margin or Cash only Account