How long did it take you to confirm you know what you’re doing?
I’ve been wheeling for 5 months with a small portion of my IRA as an experiment. Broadly speaking, I’ve generated roughly 25% return in the 5 months (NOT annualized) on that small portion, which I would consider success as it has exceeded SPY and QQQ gains over the window.
I acknowledge the last 5 months involved a huge bull move where one could just sell CSPs on anything and make money. I’m happy I was able to navigate the small downturn from the war and maintain the return. Got assigned a couple times but chose strikes that allowed me to be within reach of letting shares go.
With my return over 5 months in consideration, when would be a good time to increase my allocation for wheeling? I hope to someday perform the wheel on a larger, non-IRA account as a second income source. Thanks yall!
Edit for additional context: initial allocation for wheeling was about 25k, and amount has grown to roughly 31k