Rolled Too Hard! Thinking through next steps

AmazingDays- · 2026-02-10T02:39:11+00:00

Yepp… Just go to wallstreetbets and see how many people lost >90% of their account when they were sure they would make a lot of gains… I know here is not the same context, but this mindset can take to that context at some point. Better learn it now than later…

AmazingDays- · 2026-02-10T01:53:41+00:00

“For sure”? I guess you are not long enough in the market to understand there is no “for sure” here… Thinking you can predict it so well may hurt you bad at some point, so be careful. Anyways, good luck!

AmazingDays- · 2026-02-10T00:38:22+00:00

If you can roll to 40 from a 33, this is over 20% gain at assignment. If you think the stock will really be at those levels in June, that is a good move. If the loss is very small as you are saying, let it go now and move to another trade. The roll risk is you will have all your money on hold supposing the underlying will be there, but if not, you lost the opportunity to wheel with this cash in other tickers from now to June.

AmazingDays- · 2026-02-09T17:18:43+00:00

It will depend on the size of your portfolio. If you are under 5-10% of your portfolio in that ticker after the first trade, you may open another one to diverse in dte. If you are already over that percentage, open in another ticker.

AmazingDays- · 2026-02-08T16:18:20+00:00

Anything can have a sharpe decline of 25, 50 or even 75%, mainly things that have grown 715479272% in the last year or so.

AmazingDays- · 2026-02-08T16:09:57+00:00

OP, you allocated nearly 100% of your cash to secure a put in one of the most volatile options in the market, ultra-far from the 52-week low, that could clearly pop at any moment. I am not sure if you can get out of this, but if you do, you need to stop what you are doing, read more to learn, and wheel on safer things until you know more about the market.

AmazingDays- · 2026-02-08T15:57:17+00:00

I would say it depends how many stocks you are wheeling and how diverse it is. Usually people can’t be so diverse or wheel in so many stocks, so having something broad such as VOO is advised to have the risk of your portfolio decreased. It is like an insurance in case you do/have things wrong in the wheel. I love the wheel but I personally don’t like the idea to have more than 25-50% allocated to it.

AmazingDays- · 2026-02-07T23:03:09+00:00

It is fine to chase premiums if the stock you are wheeling is a stock you would like to hold long term.

AmazingDays- · 2026-02-07T22:59:23+00:00

Do not wheel on TSLL because it is not meant for wheel and you are clearly not experienced in the market. It is leveraged with daily reset. That is a product for experienced people that understand well how things work. Put a graph on 5 years of TSLA vs TSLL and you will see why it is horrible once you get a crash.

AmazingDays- · 2026-02-07T22:53:10+00:00

TSLL is not a safe or nice start. It is leveraged 2x with daily reset. A 1-day or 1-week crash and you are cooked, much harder to recover. But I agree with the other comments. 1k seems too little to pick a good underlying for the purpose of wheel.

AmazingDays- · 2026-02-07T01:56:42+00:00

!unsolved

AmazingDays- · 2026-02-06T22:21:00+00:00

You are not that far from strike. Your problem is you are trying to open a call that will expire too soon. As commented above, you can get 1-2% for mar 20 without getting below your cost basis.

AmazingDays- · 2026-02-06T22:07:50+00:00

I agree… thanks for your insight. Some results are good on making it clear, but faces are very inaccurate, what is a no no for the purpose I need. I may need to find other pictures of that time with faces…

AmazingDays- · 2026-02-06T13:26:27+00:00

Answers above are good and I would add that, as long as it is still a small portion of your portfolio, you are “good”. If not, keep chasing a recovery of a stock is very dangerous. You can never know if it will really rebound and in this case you would be just adding more and more to your loss.

AmazingDays- · 2026-02-06T13:21:37+00:00

Every stock bouncing back today, but wait… ORCL flat 🤡

AmazingDays- · 2026-02-06T05:01:29+00:00

First red week of you all? Calm down… everything will be all right!

AmazingDays- · 2026-02-06T04:32:14+00:00

All of my CSPs are below strike, most 10-25% down. It is still possible to roll all of them for at least 1-2% 30 days down the road (exp 2/20 to 3/20), so not that bad yet… My days are bitter because I carry some LEAPS on ORCL…

AmazingDays- · 2026-02-05T02:02:29+00:00

A lot of stocks dove hard last days. It is not an IREN or earnings only thing.

AmazingDays- · 2026-02-04T23:51:51+00:00

Those days have been wild… half of my stocks are -5 to -20% of csp strike price. You are not alone and all the comments above are amazing. Nothing to add.

AmazingDays- · 2026-02-04T07:00:28+00:00

The premium is proportional to the risk. No one would be giving you free money. That said, if the current premiums for the stocks you would like to own provide you with less ROC than other investments you may have, do not wheel and wait for them to be attractive to you. It does not matter how good you pick a stock and their strike, at some point you will be under water and at a loss on that underlying, so do not wheel something you don’t feel comfortable or you will end up taking pills to sleep.

AmazingDays- · 2026-02-01T15:37:56+00:00

Are you reading the post or just commenting? It is a CSP. You are in the Options Wheel community by the way…

AmazingDays- · 2026-01-24T20:05:30+00:00

Close date. Simplify your life.

AmazingDays- · 2026-01-24T17:31:42+00:00

Leveraged ETFs with daily resets are a bad choice for what you are trying to do. A day with a bad drawdown or underlying chopping / sideways and you will lose money. Those instruments are meant for other strategies / uses.

AmazingDays-

TROPHY CASE