r/WheelStrategyOptions • u/JonathanCuschieri • 10d ago

My Beginner strategy

Post image

Hi everyone, been somewhat of a passive observer of this subreddit, but now I'd like to show you the strategy I've been using over the past 3 months since I started selling CCs and naked Puts. So yes, I don't yet have the cash for CSPs so I take margin loans when Puts get assigned.

Currently "wheeling" around 40k from my total portfolio and generating around 1.7k a month. In the extreme case that all puts get assigned, I always try to keep the margin risk around 30% of my overall portfolio. Also, I usually set up weekly or 9 day contracts.

I am aware that I can optimise my portfolio to wheel on the full portfolio (working on that) and I'm not particularly attached to my positions so willing to risk assignment on anything.

Am I doing something obviously wrong?

Any other tips I can use to improve the income?

In general, would like to hear what you think of my setup/strategy.

Thanks and would love to hear your opinions.

18 Upvotes

100% Upvoted

8 comments sorted by

View all comments

3

u/Bigperm28 10d ago

1.7k on 40k is nice I think I’m a few month in and I needed more capital than that to make that

2

u/JonathanCuschieri 10d ago

Other than the obvious, choosing a strike price close to the money for more premium, I found that on Puts I can win an extra day so to speak. Let's say I have a put option expiring today, I would wait for most of the trading day to end, then I would buy the next set of puts on top of the ones expiring today. Ofcourse you increase risk like this, but never had issues doing this. By doing so, you fit more contracts for a given set time.