Is “outperformance vs SPY” actually a useful metric?
I’ve been tracking my wheel trades against SPY over the same holding period and I’m wondering if this is actually a useful metric.
Example:
- Wheel return since open: +1.31%
- SPY since open: +0.15%
- Outperformance: +1.16%
The capital performed better than if it had simply been sitting in the S&P over the same timeframe.
Curious if other wheel traders track relative performance like this, or if you mostly focus on premium collected / % return?
u/MF266 — 1 day ago