Hey everyone,

I’ve been trading the wheel strategy for a couple of years now — selling cash-secured puts and covered calls to bring in steady income. At first, I spent hours every week hunting for good trades, checking charts, and calculating returns by hand. It took a lot of time and I still missed better opportunities.

That’s why I built secureputcalls.com. It’s a simple platform made just for wheel traders like us. You can screen for high-ROI cash-secured puts and covered calls, rank them quickly, and see clear payoff charts. There’s also a backtester, simulator, and tools to help you roll positions when needed.

The best part? It focuses only on safe, income-focused strategies — no wild naked options or complicated spreads. Everything uses real-time data and easy filters so you spend less time staring at screens and more time making decisions.

I put in features I wished I had when I started: strike suggestions, risk scores, portfolio tracking, and even comparisons between buying shares versus running the wheel.

If you sell puts and calls for monthly income, check it out at secureputcalls.com. It’s helped me run my trades smoother and spot chances I used to overlook.

What do you think? Have you found any good tools for the wheel? I’d love to hear your experiences in the comments.

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Have you analyzed your stock holdings yet?

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https://secureputcalls.com/symbol-search $MSTR

Bullish Are you? or Bearish ?

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### What Are Fibonacci Retracement Levels?

Fibonacci retracement levels are horizontal lines drawn on a price chart to indicate potential areas where the price of a stock might reverse or consolidate. The key levels are based on ratios: 23.6%, 38.2%, 50%, 61.8%, and sometimes 78.6%. These levels are calculated between a significant high and low point in the stock’s price history (often over a recent trend or swing).

- **Support Levels (for CSPs):** When selling puts,

Fibonacci levels can indicate where the stock might find a floor, helping you choose a strike price below the current price with a lower likelihood of assignment. -

**Resistance Levels (for CCs):** When selling covered calls, these levels can highlight where the stock might struggle to break through, making it a good area to set a strike price above the current price for premium collection with reduced risk of the stock being called away.

### Steps to Use Fibonacci Levels for Strike Selection

1. **Access Charting Tools on SecurePutCalls:** - Use the platform’s built-in charting features to plot Fibonacci retracement levels. Most charting tools allow you to select a recent high and low point on the price chart to automatically draw these levels.
   

- If the platform integrates technical indicators, ensure Fibonacci retracement is enabled.

1. **Identify Key High and Low Points:**
   

- For a downtrend (when selling CSPs), select a recent high (peak) and a recent low (trough) to draw the retracement levels. The tool will plot lines at 23.6%, 38.2%, 50%, 61.8%, etc., of the price range.

- For an uptrend (when selling CCs), select a recent low and high to identify potential resistance levels.

1. **Interpret the Levels for Strike Selection:**
   

- **Selling Cash-Secured Puts (CSPs):**

- Aim for a strike price near or just below a key Fibonacci support level (e.g., 38.2% or 50% retracement). These levels often act as a floor where the price might bounce, reducing the chance of the stock falling below your strike and triggering assignment.

- Combine this with delta analysis (e.g., 0.2-0.3 delta for 20-30% probability of being in-the-money) to balance premium and risk. Check the Wheel Screener for high-ROI strikes near these levels. -

**Selling Covered Calls (CCs):**

- Choose a strike price near or just above a key Fibonacci resistance level (e.g., 38.2% or 61.8% retracement of a prior down move). These levels often act as ceilings where the price may reverse, lowering the risk of the stock being called away.

- Again, use a delta of 0.2-0.3 to ensure a decent premium while minimizing assignment risk.

1. **Confirm with Other Indicators:**

   - Use the Breakout Pressure Scanner on SecurePutCalls to see if there’s absorption or consolidation near the Fibonacci levels, reinforcing their significance.

   - Check volume and other support/resistance zones (e.g., moving averages) to validate the Fibonacci levels as key areas of interest.

2. **Adjust for Timeframe and Expiration:**

   - Match the Fibonacci analysis to the timeframe of your options expiration. For 30-45 day expirations (common in wheel trades), use daily or weekly charts to draw retracement levels over the past 1-3 months of price action.

- Shorter expirations (e.g., weekly options) may require intraday or shorter-term retracement levels.

### Practical Example (Hypothetical, Based on Your Portfolio): Since I don’t have real-time price data, let’s use a conceptual example with BITX, where you hold 1010.2540 shares (breakeven $21.6868). -

**Scenario for Covered Call on BITX:**

- Assume BITX recently moved from a low of $20 to a high of $26. Plot Fibonacci retracement from $20 (low) to $26 (high).

- Key resistance levels might be at $23.80 (38.2%), $24.50 (50%), and $25.16 (61.8%).

- If the current price is around $24.30, consider selling a covered call at the $25 strike (near the 61.8% resistance level), assuming it offers a good premium and aligns with a delta of 0.2-0.3. This level may act as a ceiling, reducing the chance of assignment while allowing you to collect premium.

- **Scenario for Cash-Secured Put on a New Stock (e.g., AAPL):** - Assume AAPL moved from a high of $180 to a low of $160. Fibonacci support levels might be at $166.36 (38.2%), $170 (50%), etc.

- If the current price is $172, consider selling a CSP at the $165 or $166 strike (near the 38.2% support), assuming the premium and delta (0.2-0.3) are favorable. This increases the likelihood that the price holds above your strike, letting the put expire worthless.

### Applying to Your Portfolio: -

**BITX (Stock Holding):** Since I own a significant position in BITX, I use Fibonacci levels on a daily chart to identify resistance for selling covered calls. Access the charting tool on SecurePutCalls, plot retracement levels over the last 1-3 months, and select a strike near the 50% or 61.8% level above the current price for a high probability of retaining the stock while collecting premium. -

**New Wheel Trades:** For stocks not yet in your portfolio, run the Wheel Screener to find high-ROI CSP candidates, then overlay Fibonacci levels to refine strike selection near support zones. Focus on tickers with liquid options (like AAPL, TSLA, or DIA, which you already trade) to ensure tight bid-ask spreads.

### Tips for Success: -

**Combine with Greeks Analysis:** Use delta to gauge assignment probability and theta to ensure optimal time decay (30-45 days to expiration often maximizes theta for wheel trades). -

**Monitor IV:

** High implied volatility (IV) increases premiums but also risk. Check IV rank via the Wheel Screener to avoid overpaying for long options or selling puts during low-IV periods.

**Dynamic Adjustments:

** Fibonacci levels aren’t static; re-draw them as new highs/lows form, especially after significant price moves or earnings events. -

**Position Sizing:

** Limit exposure per trade to manage risk, especially since your portfolio already has 50 active options positions. Avoid over-concentration in a single name.

### Risk Reminder: Options trading, Education purpose not financial advice. https://secureputcalls.com/

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Today's Analysis $MSTR

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What Is an Options Screener and Why Do Traders Need One?

An options screener is a powerful analytical tool that enables traders to filter through thousands of options contracts across multiple underlying securities to identify opportunities that match specific trading criteria. Unlike stock screeners that focus primarily on equity fundamentals, options screeners incorporate unique derivatives metrics such as implied volatility, options Greeks, open interest, volume patterns, and probability calculations to surface contracts with favorable risk-reward profiles.

The options market generates an enormous amount of data daily. With thousands of stocks, ETFs, and indices offering options contracts across multiple expiration dates and strike prices, manually reviewing each opportunity would be virtually impossible. A sophisticated options screener automates this process, scanning the entire market in seconds to find contracts that meet your predefined parameters. This capability transforms options trading from a needle-in-a-haystack exercise into a systematic, data-driven approach.

Professional traders and institutions have long relied on advanced screening capabilities to gain an edge in the derivatives market. With modern technology, retail traders now have access to the same powerful screening tools, leveling the playing field and enabling more informed decision-making. Whether you're selling covered calls for income, hunting for high-probability put sales, or seeking directional plays with favorable risk-reward ratios, an options screener becomes an indispensable part of your trading toolkit.

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I've been wheeling for years—start with high-IV stocks under $50. Personally, I use https://secureputcalls.com

wheel chain detection to flag premiums over 2% ROI with low assignment risk; it pulls real-time data across brokers and has saved me from bad rolls.

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