u/DateKey4966

I’m planning to switch over to selling options/collecting premiums. I’ve had my fun with LEAPs over the last couple of years and have built up enough money ($75k) to where I think I can start taking a more conservative approach of CCs and CSPs. I’ve got a day job and a young family, so I don’t have the time and/or mental capacity to really track this stuff on an hourly or even daily basis. I also don’t nerd out with overly complex strategies and in depth analysis of the various metrics/indicators. My thought was finding a few large cap / blue chip stocks and implementing the wheel strategy with week long contracts. I would set up an excel sheet to track each of my contracts making note of when the options are exercised/called away to ensure that I have a proper ledger of missed gains to determine if my overall strategy is actually profitable (compared to if I just owned and didn’t sell the underlying stock).

All that said - for those attempting a similar approach as me with week long contracts, what stocks do you typically go with, what’s your usual theta decay range, chance of profit and have you found success with the wheel strategy?

I bought a used 2016 Ford focus SE with 2.0L NA engine and 5 speed manual back in July 2021. At the time of purchase it had about 40k miles on it and despite it being during the height of the chip shortages and used car price hikes, I was able to get it out the door for $13k (most comparable vehicles at the time were floating around $16-17k). I think the fact it was a beige colored se with a 5 speed manual gearbox helped me out in negotiations.

I’m approaching 136k miles and this car has been an absolute joy to drive and has given me virtually zero problems. I’m about to change shocks/struts and had to replace an air canister purge valve, but aside from that this cars been perfect. On top of that, I’m average 38mpg (75% highway).

I guess I just came here as a 36M to gush about my beige colored focus more well suited for a little old lady, but it is what it is. It’s a shame these vehicles got such a bad rap due to their automatic transmission woes, but if you got one with a manual, I’d argue this is in the top tier of reliability (yea come at me Toyota/Honda fanboys).

Curious how many miles some fellow focus drivers have out there and for the manual folks, have you changed your clutch and at what mileage? I’m still on the original and it doesn’t feel like there’s any slippage yet **knocks on head**