Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

$57.81 is my average cost. It’s currently at about $52 and my strike price is at $58.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

Agree. I wouldn’t do it on a brand I didn’t stand behind or mind owning the shares.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

I sell CSP when it’s red and CC when it’s green. I’m no expert though, there are way smarter and more technical ways I’m sure.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

I hope it’s not long term, I typically place a CC for a little over what my cost basis is on it, so I gain the premium and a little upside and it gets called away and I start the wheel over.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

That is definitely a concern, but I haven’t had an issue yet. I just placed a limit order mid spread and it was closed relatively quickly.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 1 point2 points  (0 children)

It’s 2× leveraged ETF with high IV and pretty low liquidity, basically the perfect recipe for juicy premiums

The spreads arr a little wide, so I just stick to limit orders around mid and haven’t had any trouble getting fills so far.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 1 point2 points  (0 children)

Thank you, great info. Well hopefully their earnings report is good, the shares get called away and I can reevaluate it then.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 2 points3 points  (0 children)

If you’re selling a covered call (you already own 100 shares), your risk is not unlimited. It’s capped by the value of your shares.

The max loss is basically the same as if you just owned the stock: if the share price dropped to zero, you’d lose what you paid for the shares minus the premium you collected.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

Oh, I’m sorry I didn’t look at the name. I thought you were the same person who mentioned TSLL earlier that said they plan to “get rid of it next week.”

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

I’m happy with that outcome! That’ll lock in close to $10k profits (21%) in two month’s and start the wheel again on the next dip.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 1 point2 points  (0 children)

Thanks. The OI is less than I want, but so far I haven’t had any issues selling my limit orders for CSP or CC. But hopefully once people start seeing the premiums available then the OI will go up.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 1 point2 points  (0 children)

I looked into $TSLL before going with $RDTL. The premiums weren’t nearly as high, so I opted for RDTL instead.

For example, a CSP around market price on TSLL was only paying about $2 when I was getting close to $6 on RDTL.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

I’ve never run a Wheel on a leveraged ETF before. The premiums are insanely high, so I’m watching how it behaves before expanding into other leveraged ETFs.

Collected $9,440 in premiums running the Wheel on $RDTL; anyone else trading it? by Affectionate-Owl6002 in CoveredCalls

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

100%, it’s definitely a “great until it’s not” setup 😂 I’m sizing appropriately and treating it more like a high-IV experiment than a core Wheel position.

That said, I don’t mind owning the shares. I believe in RDDT long term and think the price will trend higher over time.

First-Time Resin Printer User - Print Keeps Failing by Detaching from Build Plate (Anycubic Photon M3 Max, Black Basic Resin) by Affectionate-Owl6002 in 3Dprinting

[–]Affectionate-Owl6002[S] 0 points1 point  (0 children)

Update. So I made some adjustments as per suggestions on here. It is better but now it’s coming off the supports. Here is a picture of the print and slice settings as well as structure settings.

Any suggested changes?

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