r/Optionswheel

I'm working on trying to build one of the best Options screeners, starting with Options selling. This is a first pass at the screener but honestly it still needs some work. Any feedback would be helpful.

The initial goal was to offer some pre-built filters and also provide a variety of options. I couldn't fit all filters in the screenshot but there is also Stock Price, avoiding stocks expiring after earnings, and near Call and Put Gamma walls, which has provided very useful. Any feedback would be appreciated!

I will post a separate comment with a link to the detail behind each option sold this week.

After week 20, the average premium per week is $758 with an annual projection of $39,429.

All things considered, the portfolio is down $14,875 (-3.27%), on the year (S&P 500: +8.22%). Additionally, the trailing 1-year performance is up $70,736 (+19.19%); for comparison the S&P 500 is +25.21% over the same period. This is the overall profit and loss and includes options and all other account activity.

Annual results:
• 2023 up $65,403 (+41.31%)
• 2024 up $64,610 (+29.71%)
• 2025 up $111,496 (+34.52%)
• 2026 down $14,875 (-3.27%YTD)

Options:
• YTD: $30,525.00
• 1 Month: $-8,230.00
• 1 Week: $-7,539.00

Realized P&L:
• YTD: $26,692.00
• 1 Month: $-6,864.00
• 1 Week: $-5,799.00

All options sold are backed by cash, shares, or LEAPS. I do not sell on margin, nor do I sell naked options.

All options and profits stay in the account with few exceptions. This is not my full time job, although I wish it was. I still grind on a 9-5.

My $600 weekly contribution streak is at 18 weeks, but I am pausing new contributions until next month.

The portfolio is comprised of 96 unique tickers, up from 95 last week. These 96 tickers have a value of $383k. I also have 187 open option positions, down from 195 last week. The options have a total value of $56k. The total of the shares and options is $439k. The next goal on the "Road to" is Half a Million.

I'm currently utilizing $40,850 in cash secured put collateral, up from $37,400 last week.

2025 through 2028 LEAPS
In addition to the CSPs and covered calls, I purchase LEAPS. These act as collateral to sell covered calls against. You may have heard of poor man's covered calls (PMCC).

See r/ExpiredOptions for a detailed spreadsheet update on all LEAPS positions including P/L for each individual position.

LEAPS note 1: the 2025 LEAPS expired 1/17/25. They were up $36,440 overall with a 233.74% increase. The major drivers were AMZN and CRWD.

LEAPS note 2: After holding for 2 years, I exercised an AMZN $80 strike from 2023 up +$11,395 (+463.21%) and CRWD $95 strike from 2023, up +$21,830 (+663.53%)

LEAPS note 3: Purchased 1/16/26 CRWD LEAPS for $8,230.03 on 1/17/24. I sold this LEAPS on 6/5/25 for $21,659 for a realized profit of $13,428.97 (+163.18%)

Total premium by year:
• 2023 $23,132 in premium
• 2024 $47,640 in premium
• 2025 $68,319 in premium
• 2026 $15,021 YTD

Premium by month (2026):
• January $3,334
• February $3,625
• March $465
• April $5,593
• May $2,069

I am over $158k in total options premium, since 2021. I average roughly $34 per option sold. I have sold over 4k options. I have been able to increase the premiums on an annual basis and I will attempt to keep this upward trend going forward.

Strategy:
The underlying strategy is buy and hold. I also use simple 1-legged options to supplement that strategy. Options have somewhat of a learning curve, but I believe that most people can supplement their investments using simple options with careful risk management.

I sell options on a weekly basis. I prefer cash secured puts and covered calls. I rarely close early, prefer rolling when needed, and let time decay do the heavy lifting while I stay focused on quality companies, patience, and consistency over hype. My goal is consistency in option premium revenue. I am building an income stream that will continue long into retirement.

Spreadsheets:
Unfortunately, I no longer provide spreadsheets. I received too many follow ups about formatting, pivot tables, compatibility etc. I think tracking is very important, but I post to discuss investing and options, not to provide tech support for Excel. I do appreciate the interest in my tracking methods.

Software:
I captured the screen shots from a proprietary software platform I built to track, analyze, and manage my options strategies.

Commissions:
I use Robinhood as a broker and they do not charge commissions. There is an industry standard regulation fee of about $0.03 per contract. Last year I sold 1,720 contracts which is about $50.00 in fees paid in 2025. In 2026, the regulatory fee has been lowered to about $0.02 per contract, which keeps the total cost extremely low even as my trading volume increases.

The premiums have increased significantly as my experience has expanded over the last three years.

Make sure to post your wins. I look forward to reading about them!

Disclaimer: I am not a financial advisor. This information is for educational and entertainment purposes only. Trading options involves significant risk.

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So I broke a few cardinal rules when selling CSPs. I bought into the Intel FOMO this week and decided to premium chase after it skyrocketed with no real entry or exit criteria. I had been collecting premium for a couple months now and this is my first ever roll. I only do weekly CSPs and typically choose conservative deltas (0.15-0.20) on stocks I don't really want to hold and 0.30 on any blue chips or mega caps that I don't mind owning. This is the story:

Sold 2 INTC $117 CSPs on 5/11 expiring 5/15 for $1.98 ($396 recieved premium). INTC then collapses and breaks the strike. I then roll down and out on 5/14 for a $110 strike for 5/22 collecting a net credit of $0.38 ($76 received premium). INTC is now at $108 premarket and doesn't seem to be hitting any support floor. Im not sure how I could save this trade as I may not be able to keep rolling for a credit. Hopefully the math is correct and I'm still in the green but really considering BTC and cut losses rather than bag hold

Relatively new on how the technical processing works on here but why did this spread not expire on expiration day?

Instead it is displayed like a cash settled assignment for 0$ occured?

April was even better than March for running the wheel.  The war continued in Iran with no end in sight, inflation continued to soar and it seemed like everyone was shoveling their money into the stock market with both hands.

I continued wheeling my favorite stocks  MSFT and GOOGL as well as the semiconductor ETF SMH.

I also had good results wheeling the leveraged ETFs TSLL and TQQQ.  But the prize winner for April was the 3X leveraged semiconductor ETF SOXL which accounted for almost half of my premiums. 

I avoided wheeling META as it gained over $100 per share in April and climbed back to positive territory for the  year.  When I finally did sell a CSP ($50 OTM) right before earnings I paid the price as META dropped more than $60 in the days after reporting.  That was the only blemish on what was a positive month of wheeling.  

I try to hold my CSPs until expiration but the market was moving so fast that I sold several a day or two early so I could redeploy the cash in other CSPs.  All in all April was a great wheeling month. I ended up with a 2% ROI which is well above my target. 

My wheel  strategy including the tickers I wheel and why are detailed in my February post:

https://www.reddit.com/r/Optionswheel/comments/1rmp3mr/february_wheel_results/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

I've been focused really heavily on CSPs and haven't really had a chance to do any CC's these past weeks. Sometimes covered calls can bite you in the butt, especially when we're going into bubble territory and everything is ripping to ATHs. In my opinion, I feel like I'm just going to ride this wave, because I don't want to sell early on the upside. How are you guys feeling?

I collected a little over $12k in premiums over the last few month, with most of the trades expiring worthless, which is obviously the ideal outcome. This month is slower with less capital deployment as well. The main names I was selling puts on were: GOOGL, META, AMZN, ASTS, and NFLX.

Here’s why I made the trades:

GOOGL

• Bull case: Google Cloud momentum is real, AI demand is helping, YouTube is still a beast, and Anthropic reportedly committing major spend to Google Cloud/TPUs is a big validation point.
• Bear case: It's not cheap anymore. But I still think its a LT hold.
• Why I sold puts: I’m comfortable owning GOOGL long term, but I’d rather get paid to wait for a better entry than chase after a move. I thought it was going to rip and it did. I sold ITM puts, and it did amazing. Made a lot from that

META

• Bull case: Q1 revenue growth was strong, the ad machine is still printing, and AI could make their ad products even more effective over time.
• Bear case: The capex number is massive. META raised 2026 capex guidance to $125B-$145B, so investors are clearly worried about how long the AI spending cycle lasts.
• Why I sold puts: High-quality business, strong premiums, and I’m fine with owning more META. This trade I did actually was a big losing one because it dropped so much after earnings. Staying strong for the long run though.

AMZN

• Bull case: AWS beat expectations, growing 28% in Q1, and the AI infrastructure story is such a beast
• Bear case: The spending is huge. Amazon is pouring money into AI/data centers, and the market is watching whether those investments actually convert into returns.
• Why I sold puts: I like AMZN long term, but the stock can be choppy around earnings and AI capex commentary. Selling puts lets me collect premium while giving myself a better entry.

ASTS

• Bull case: This is the speculative one. If they can execute direct-to-device satellite connectivity at scale, the upside is massive.
• Bear case: The earnings that just happened was a smoke screen imo, it's not looking as good.
• Why I sold puts: The premiums were too elevated to ignore, but I’m sizing it differently than the mega-cap names. This is a high-IV wheel trade

NFLX

• Bull case: Netflix keeps proving people wrong. Q1 revenue grew 16%, ad revenue is expected to roughly double this year, and live events/ad tier growth give the company more levers than just subscriber growth.
• Bear case: The valuation is not cheap, and after the earnings move, the market clearly wanted stronger forward guidance.
• Why I sold puts: I’m fine owning NFLX on weakness, but I don’t want to chase it. OTM puts made sense because I either keep the premium or get assigned at a better price.

Overall, the goal has been pretty simple:

• Sell puts on names I’d actually be willing to own or actively manage.
• Let theta do its thing.
• Avoid chasing premium just because IV is high.
• Keep the speculative names sized way smaller than the quality names.

Most of these expiring worthless is exactly what I want. Assignment is fine when the price makes sense, but the real goal is consistent premium without forcing bad trades.

What are you guys wheeling right now? Large-cap quality, high-IV names, ETFs, or mostly staying in cash?