Can CSP/wheel premiums work as a steady monthly income?
Been selling CSPs for a little over a year, staying pretty conservative. Lower delta, avoiding stuff I don't want to own. Averaging around $800 - $1,000 a month in premium, only got assigned a handful of times.
Curious if anyone here has actually taken this and turned it into a real monthly income stream rather than just extra cash. A few things I'm wondering about:
Account size. What kind of account gets you to numbers that actually cover the month without taking dumb risk?
Whether the "safe monthly income" math holds up. Or does vol eventually wreck a few months of premium in one go?
Cost. Most months I roll 15 to 20 contracts. On a platform still charging around 0.65 per contract, that's hundreds a year. On a smaller account that's a real drag.
Not trying to quit my job tomorrow. Just want to hear from people who actually run the wheel as income before I start planning around it.