I have 500 shares of Walmart, and I started selling covered calls and using the premium to buy more of the underlining. My goal is to get to 1-1.5k shares before I stop the accumulation of this position and look at expanding my other stocks. To add, I am also investing 1.5k a month of my own cash into the underlining as well.... I'm curious to see if anyone else is looking at this strategy or is the goal to never own the stock? I haven't sold cash secured puts yet at the moment, but if my shares are assigned, I'll immediately look into buying cash secured puts at or slightly below the money, garner that premium, and continue to buy more shares of Walmart.

Why do I like Walmart? Well, it's a low beta stock that doesn't see crazy movement, dividend is decent, and I'd say if any stock would survive a macro economic downturn, it would be Walmart. I'm not looking as much for stock appreciation more-so synthetic accumulation of shares through the premium as well as the dividend, that will eventually hopefully give me a 2k a month yield that I can fast track to who knows maybe 2-3.5k shares. Thanks all!

Previous weeks' results:
Week 7: $573 on $53,800 invested
Week 8: $811 on $70,400 invested.
Week 9: $1093 on $103,450 invested
Week 10: $1040 on $97,400 invested
Week 11: $1077 on $102,800 invested.
Week 12: $1170 made on $98,600 invested
Week 12.5: Bonus round: $475 extra made increasing investment to $106,100
Week 13: $1,133 on $106,100 invested
Week 13.5 Bonus Round: $336 extra made increasing investment to $115,900
Week 14: $1,053 on $105,750
Week 15: $1,146 on $110,700
Week 16: $1,105 on $111,850 invested
Week 17: $1045 on $108,350 invested. Got SLV 65.5 assigned.
Week 18 (This week): 1,034 made on $102,650 invested

Edit: $1126 on 111,550 after adding RKLB 89 put.

First wheeling here (previous weeks were all sold puts). I got SLV 65.5 assigned. So selling 65.5 call in it. In the amount invested, I count SLV as 6550.

Trades:

https://preview.redd.it/0diji44mxtah1.png?width=1533&format=png&auto=webp&s=d5a5f97ed4170836e6fa97f1f20f0bcf4f74da01

Mostly ok in spite of the crash yesterday. Just a couple slightly ITM.

Low Delta Puts from earlier today:

Put Options Expiring July 10, 2026

Trades I took today as an option seller (07/02):

Closed Positions

• OUST → $52 Call (opened on 06/29), premium 3.40 → closed at 0.55. Net premium profit = 2.85 (~84% of premium captured, ~6.7% of capital). I was assigned OUST at $42.5.
• CRWV → $120 Call (opened on 06/29), premium 0.90 → closed at 0.18. Net premium profit = 0.72 (~80% of premium captured, ~0.6% of capital). I was assigned CRWV at $120. CRWV has been bearish since the META news, but I think we need more time for this to pan out. Does not hurt already existing contracts and this is an expaning sector.

New Positions

• AAOI → $175 Call, expiry 07/17 (2 weeks DTE), premium 3.30 → 330/17500 = 1.8%. I was assigned AAOI at $175.

Thoughts on Market

Today the market sold off heavily, especially in the AI and semiconductor names. I think this was a combination of profit-taking and options expiry. I am not rushing to roll down any positions. Instead, I focused on booking profits where it made sense and closing covered calls that had already hit my premium targets. I am not too concerned about this pullback. I will wait and see how things develop next week before deciding my next steps. The NASDAQ looks like it's forming a descending triangle and is currently testing the 25,825 support level. For now, it's a wait and watch situation for me.

https://preview.redd.it/d5pzoh7vnvah1.png?width=1080&format=png&auto=webp&s=72aff8b09b1f7b0ca83746d485870d6a54ad3c88

I keep sharing my daily trades in my account and the Excel file to my full list of positions is linked in my profile description. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

Trades I took today as an option seller (07/01):

Closed Position

• AAOI → $175 Call (opened on 06/23), premium 9.70 → closed at 1.60. Net premium profit = 8.10 (~84% of premium captured, ~4.6% of capital).

No New Positions, will sell new Call for AAOI on a green day as AAOI can swing a lot.

I keep sharing my daily trades in my account and the Excel file to my full list of positions is linked in my profile description. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

Hello,

Recently I have been contemplating a mix and match between strategies.

I am thinking about using the proceeds of the wheel strategy to sell Bull Put vertical spreads, which is essentially buying a long put and taking away the assignment element while caping the loss. (The difference between the put that you sell and the one that you buy).

Does anyone have experience managing these types of portfolios or mixed wheel strategy with vertical spreads? If yes what are some of the things that you would suggest to someone?

I think of the wheel almost as safe passive income and think about spreads as a more agressive investment since you can open SOO many at a time. AS long as you are comfortable with the risks and choose the right stocks you should go for it.

u/ScottishTrader I have seen in threads and previous posts that at times you have also done spreads. Mind sharing your experience? I think it would be super useful for people that already have a very well established wheel strategy and are looking to take the next step and maximize on risk/collateral/profit.

https://preview.redd.it/g1ipf9s3ffah1.png?width=2834&format=png&auto=webp&s=768b7556683f267ab55db2c09f590a53a5fab38d

Hello!

Quick update on my positions, I got two options of Kroger assigned at $58 after its most recent 8% drawdown been collecting CC's on it with an even higher strike than what I got assigned. Holding, now trading at $55 - $56. Managed to lower my average price to $56.5

200 shares at 56.5 avg price now trading at 56 -57.

What I am worried about is the TMUS option. Good stock now trading at a discount compared to all time highs, good expansion and cost reduction plan, amazing cash flow and a good competitive advantage. However, this assignment might become my most expensive assignment yet. $16.5K... This will lock a good portion of my capital.

I am concerned about the potential disruption effect that Space X might have on the company after pushing the idea of entering the mobile data -signal industry.

Definately changed my overview on the company, will love to own it on my equities but not for wheeling.

Also have some CSP's on Charles Schwab and Walmart. SCHW is doing great, WMT is getting crushed, but again not really worried about those as I believe it has taken enough damage since its all time highs and also offers a great dividend and liquidity for covered calls.

Besides that you can see I am also doing bull put spreads. That is the second phase of my strategy. It allows me to capture premium on large cap without incurring so much capital.

Would love to hear everyone's thoughts.

Trades I took today as an option seller (06/30):

No Closed Positions

New Positions

• CLSK → $14.5 Put, expiry 07/10 (2 weeks DTE), premium 0.55 → 55/1450 = 3.8%. I am increasing my position in CLSK. I opened Puts on CLSK yesterday. Stock is at support levels. Betting on a positive reversal. Compute for AI.
• AMKR → $80 Put, expiry 07/17 (3 weeks DTE), premium 4.80 → 480/8000 = 6%. I am increasing my position in AMKR. I already had CSPs in the same strike and expiry. Stock took support from $80 and is looking bullish. AMKR packages and tests semiconductor chips.

I keep sharing my daily trades in my account and the Excel file to my full list of positions is linked in my profile description. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

Trades I took today as an option seller (06/29):

Assigned Positions from last week expiry

• DOCN → $165 Put
• IREN → $58 Put

New Positions

• OUST → $52 Call, expiry 07/02 (1 week DTE), premium 3.40 → 340/4250 = 8%. OUST is looking like a big winner for me this week. I was assigned OUST at $42.5. Last week my $43 calls expired worthless and today OUST is up almost 24%. Makes LiDAR sensors used in industrial automation, robotics, and smart infrastructure.
• CRDO → $230 Put, expiry 07/10 (2 weeks DTE), premium 14.20 → 1420/23000 = 6.2%. CRDO holding onto the $235 support levels. Betting on a positive reversal. Builds high-speed connectivity chips used in AI datacenters.
• CLSK → $14.5 Put, expiry 07/10 (2 weeks DTE), premium 0.55 → 55/1450 = 3.8%. CLSK respecting the $15 support level. Betting on a positive reversal. Compute for AI.
• CRWV→ $120 Call, expiry 07/17 (3 weeks DTE), premium 0.90 → 90/12000 = 0.75%. I was assigned CRWV at $120.
• IREN → $58 Call, expiry 07/24 (4 weeks DTE), premium 1.70 → 170/5800 = 2.9%. Wheeling IREN. IREN is at $47 support so I would expect a rebound on this.
• DOCN → $165 Call, expiry 08/07 (6 weeks DTE), premium 13.00 → 1300/16500 = 7.8%. Started wheeling DOCN. Earnings are on 08/04 hence premiums are higher for that week expiry.

I keep sharing my daily trades in my account and the Excel file to my full list of positions is linked in my profile description. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

There is a dizzying array of option selling strategies out there—especially when it comes to variations of The Wheel. Between trading weeklies versus 30-45 DTE, targeting a conservative 10 Delta versus an aggressive 30 Delta, and choosing between high-IV individual stocks, stable ETFs, or blue-chip market leaders, the combinations are endless. I have experimented with almost all of them, but I still haven’t found that "perfect" sweet spot.

My Core Objectives:

Outperform the Market: I want a strategy designed to consistently beat the S&P 500 benchmark.

Built-in Crash Protection: By "safe," I don't mean avoiding drawdowns entirely; that’s unrealistic. I mean having a strict, mechanical set of rules that prevents catastrophic account blowouts, allowing me to keep collecting premium and eventually trade back to all-time highs even after a severe market correction.

Income Replacement: In the near future, my goal is to quit my 9-to-5 job. This strategy needs to be scalable and reliable enough to cover my living expenses.

I would love to hear your thoughts, personal experiences, and framework ideas. What mechanics (DTE, Delta, underlying assets, or defensive rolling rules) have actually stood the test of time for you?

Let’s pool our collective knowledge and find an edge in this market together!

What is the best trading platform for options trading in USA?

I tried these but each one has its own issues

1. Moomoo : Depositing money is quick but margin is very high for custom strategies
2. Alpaca: Doesn't support SPX options
3. Interactive Brokers: They still had day trading rule of 25k balance
4. Tradestation: Depositing money is taking 5days and also it says European-style option strategies are disallowed.
5. Nice to have: API support

Its so hard to open an options account here. It takes days to open first then days again for money deposit and finally issues while trading.

Also none of these has easy option to select options.

Tradestation is little better I can select random option and then I can change strike price in drop down but not type or search

$14,958 MTD / $3,928 WTD — collected ~$24.7k, paid ~$9.8k buying back positions

Open cash-secured puts:

• AMZN $220 (17 Jul)
• GOOGL $315 (31 Jul)
• AVGO $320 & $360 (17 Jul)
• UBER $69 (2 Jul)
• MU $590 (17 Jul)

I personally feel that the "AI capex" bear case for the hyper scalers is overblown. I'll probably roll the AVGO $360 position.

Biggest mistake this month, is that I bought back GOOGLs call for ~$1,100 loss after selling it out of frustration (the forever-red days are frustrating!)

I've gone through a few cycles and here are my thoughts:

1. market is going sideways then I can get a lot of covered calls premiums and they expire

2. market has gone down and I cannot sell to cover my cost. I wait a few months and then I get sick of it and sell below my costs and then price jacks up and I lose.

3. market has gone down but I'm patient. I wait and wait until I can get 5APR at my cost and finally I sell. Then the price jacks up and I try to roll. Eventually I am called.

#3 has been happening the most lately. when this happens the price flies past me but I can't do anything because I have a CC. then it drops back down and either it expires and I have 45c, or I am called.

and when I'm cold I look at the Premium Plus the strike It's similar to if I've just sold at the end of the day.

in other words if I did not sell the CC at all then maybe I could have sold when it jacked up my cost price and actually made a good profit.

maybe I should have some sort of rule that when the market drops very far and I cannot sell then I have to wait until the price goes past my cost price before I consider selling CC?

Hey all

ASTS, SPCX, COIN, IREN, SOXL

Looking to start by selling a put on one of these beaten down names with high IV. Anyone in it already or thinking about it? Thoughts? All criticisms welcomed.

In order of preference leaning on ASTS, SOXL, COIN, IREN, SPCX

EDIT: added RKLB, ASTI to the list

I’ve been wheeling BABA at a strike price of 130 and recently the stock has plummeted almost 25% to ~100. I’ve decided to take the assignment and am looking to sell Calls following the wheel strategy. As the stock doesn’t seem to be recovering anytime soon, the premium is very low and will require me to sell at a further DTE if I sell calls at my cost price. Any advice on whether I should sell the calls immediately or wait it out until the market recovers?

Busy tomorrow so rolling early this week. From earlier today, low delta options for next week:

Summary Table of Put Options (Expiring July 2, 2026)

This was not a great week for me comparatively because my ASTS and SLV were both underwater. I was able to roll ASTS lower and I opened no new positions.

My strategy: Roll puts already sold or open new positions from the low delta list that I like. If at assignment risk roll earlier. Try to get 1% to roll lower, if not possible, roll for minimum credit to same or lower price. Always credit though.

This week was all rolls. Results since I've been tracking:
Week 7: $573 on $53,800 invested
Week 8: $811 on $70,400 invested.
Week 9: $1093 on $103,450 invested
Week 10: $1040 on $97,400 invested
Week 11: $1077 on $102,800 invested.
Week 12: $1170 made on $98,600 invested
Week 12.5: Bonus round: $475 extra made increasing investment to $106,100
Week 13: $1,133 on $106,100 invested
Week 13.5 Bonus Round: $336 extra made increasing investment to $115,900
Week 14: $1,053 on $105,750
Week 15: $1,146 on $110,700
Week 16: $1,105 on $111,850 invested
Week 17 (Today): $1,045 on $108,350 invested

See actual trades here: https://www.reddit.com/r/TheRaceTo10Million/comments/1ufc8jz/comment/otqodu8/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

Anyone here who start Wheeled stocks like MSFT, PLTR when they start crashing? Means you are sitting on the pent house (buy high sell low). How did you do with the wheel strategy on these crashing stocks? What did you learn?

Hi All. No trades today. Wanted to provide a quick update on my trades expiring this week:

• DOCN → $165 Put, expiry 06/26. DOCN is trading at $145. DOCN fell from $165 support and now its near the $143 support. I will consider rolling down and out by a month on this tomorrow. I should have rolled out today as the extrinsic premium is the contract is now 0 so it puts me at high risk of early assignment.
• IREN → $58 Put, expiry 06/26. IREN is trading at $47. IREN also at $47 support. I will consider rolling down and out by a month on this tomorrow.
• OUST → $43 Call, expiry 06/26. OUST is trading at $42. I will do nothing on this. If I am assigned I book an overall profit (I was assigned at $42.5), if not assigned the contract expires worthless and I will be able to open another CC at very high premiums.
• OUST → $43.50 Put, expiry 06/26. OUST is trading at $42. This is again wait and watch for me. I will take assignment and wheel this one as the premiums will be good.

In both DOCN and IREN, the stock is not too far off from my strike price so rolling in this situation will result in a positive credit within 1 month expiry.

I keep sharing my daily trades in my account and the Excel file to my full list of positions is linked in my profile description. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.