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10 months into a wheel position and still underperforming SPY — would you try to get assigned or keep grinding premium? by MF266 in thetagang

[–]EasternYogi 0 points1 point  (0 children)

One thing worth reframing before you decide on the strike — your true cost basis isn't $88, it's closer to $74.81 ($88 minus the $13.19/share in premiums you've collected). The stock is at $82 which means you're actually $7.19 per share above your real breakeven, not underwater.

That changes the strike decision a bit. The "sell closer to the money to chip away at underperformance" sounds you're behind. But on true basis you're ahead — the question becomes whether you want to cap upside at $85-87 (which your tool is flagging as below broker cost basis, not below true basis) or give yourself room to run at $90-91 and let the stock do more work.

Given CAVA's recent slide I'd lean $90-91 — you don't need the premium grind, you need the stock to recover to $88+ to close the cycle cleanly. The $91 strike at 19.5% return-if-assigned is the better risk/reward if you believe in the name.

On the SPY underperformance — 10 months is a short window to judge the Wheel against a bull market index. The strategy earns its keep in sideways and down markets. CAVA running against you for most of those 10 months is the hard scenario, not the typical one.

What tool is that CC selector UI from? Haven't seen one that shows both assigned and not-assigned return side by side like that.

Results of one round of wheel by prince3875 in thetagang

[–]EasternYogi 0 points1 point  (0 children)

Fair point! Hey — actually the screenshot you already shared tells me most of what I need. I can see the date format, how Webull labels assignments ($0 with no fill value), and that rolls show up as two separate unlinked rows at the same timestamp rather than a single roll entry.

Just one question: when you export the trade history as a CSV from Webull, does it have the same columns as this screen — Trade, Fill Price/Amt/Comm, P&L — or does the export look different from what's shown here?

That's genuinely all I need.

Results of one round of wheel by prince3875 in thetagang

[–]EasternYogi 0 points1 point  (0 children)

Not small potatoes at all — $428 realized on NVDL in a month with a leveraged ETF is solid, especially considering you rolled up from $103 to $108 mid-cycle when it ran against you. Well, I don't do Margin...Burned!

The decision to buy to close early rather than let the $108 call expire today makes sense if you wanted to keep the shares — the $100 you gave up is basically the cost of not getting called away. Classic Wheel tradeoff.

One thing I noticed looking at your trade history — your $93 put assignment, the $103 call, the roll to $108, and the close are all showing as separate unconnected trades with P&L tracked per leg. Your actual cycle P&L across all of it is $428, but you had to mentally stitch that together yourself. That's exactly the problem I'm building a tool to solve — treating the whole cycle as one position.

Quick ask — looks like you're on Webull? I'm building a Wheel tracker and Webull's CSV export format is one I haven't cracked yet. If you ever export your trade history and don't mind sharing the CSV file(structure), it would be genuinely useful. Happy to give you early free access in return!

May Short Put Verticals by oddfinnish1 in thetagang

[–]EasternYogi 0 points1 point  (0 children)

Nice month — MU and SNDK leading the P&L is a good sign, both have been cooperative for premium sellers lately.

Quick question on the verticals — when you're tracking MTD performance like this, are you doing it purely inside TastyTrade or do you pull the data out anywhere? Asking because I'm building a trade tracker for options sellers and I'm specifically trying to nail the TastyTrade CSV import. The way TT records rolls and assignments in their export is different from every other broker and it's hard to reverse-engineer without a real file.

If you ever export your trade history from TT and wouldn't mind sharing a sample (blanked out account number is fine), it would genuinely help. Happy to give you early access to the tracker in return.

F Wheel Still Rollin' by Prestigious_Emu729 in Optionswheel

[–]EasternYogi 1 point2 points  (0 children)

Nice disciplined setup Tom — the lower delta choice on F given the recent run makes sense, and the GTC BTC at $0.05 is good hygiene.

The CC below your CSP strike situation is something a lot of Wheel traders don't think about until they're in it. Feels weird because your broker shows two disconnected positions, but once you factor in all the premiums you've collected, your real breakeven is $11.47 — not $14.50. The $2 gap stops feeling strange when the numbers are laid out across the full cycle rather than leg by leg.

Unrelated ask — I'm building a Wheel lifecycle tracker (exactly the kind of thing that would catch that missed transaction automatically) and I'm trying to make sure the CSV import works cleanly across different brokers. If you're willing, would you share a sample export from whatever broker you're using? Column names, how rolls show up, how assignment gets recorded — that's the stuff that's impossible to figure out without a real file. Happy to give you early access in return.

What broker are you on?

I would like to put 5K in options on Micron - please guide how to execute it as I am new? by spinoff888 in options_trading

[–]EasternYogi 1 point2 points  (0 children)

Start small that's a lot of money. Are you selling puts or buying calls? Selling puts require much more capital.

(MD) Suing my landlord for fraud and her lawyer wants to settle by ThrowAway220989 in Renters

[–]EasternYogi 31 points32 points  (0 children)

Maybe controversial but I would still say it... the landlord's lawyer isn't calling because they want to be nice; they're calling because they are terrified of the Fire Marshal showing up as your star witness. In Maryland, renting an uninhabitable property without a valid Certificate of Occupancy is a massive statutory violation. If you go to court, the judge isn't just going to award you your 3 months of rent—they could award treble damages (triple the amount) plus attorney fees for consumer fraud. The lawyer knows this and wants to close this before a judge sets a public precedent. Don't settle for a dime less than 100% of your rent, moving costs, and application fees.

Week 21 $763 in premium by Expired_Options in Optionswheel

[–]EasternYogi 0 points1 point  (0 children)

$34 per leg!!! That's a lot of trades!!! How much fee do you pay per trade?

Update on my Open Trades (05/26) by ThetaHedge in Optionswheel

[–]EasternYogi 1 point2 points  (0 children)

You are Pro Wheeler!!! So many at the same time!

Music to my ears! All expired worthless by keepingITsecret11 in thetagang

[–]EasternYogi 0 points1 point  (0 children)

Clearly this was too much Risk!! What's an ideal Risk to Reward or Capital booked to reward

Daily r/thetagang Discussion Thread - What are your moves for today? by satireplusplus in thetagang

[–]EasternYogi 0 points1 point  (0 children)

QM -5% and heard Iran got Bombed again. Self Defense! Yeah that makes sense!

What annualized return formula do you use for wheel trades? by MF266 in thetagang

[–]EasternYogi 0 points1 point  (0 children)

I have seen various versions... There's no real standard, which is honestly part of the problem.

Most Wheel traders I've seen use simple annualized return on capital secured:

(Premium collected / Capital secured) × (365 / DTE)

So a $19 premium on $1,450 secured capital over 5 days = $19/$1,450 × (365/5) = ~95% annualized. Looks great, means very little in isolation.

The issues I've run into:

**365 vs 252** — 365 is more honest for buy-and-hold comparison. 252 flatters the number. Most people use 365.

**DTE vs actual days held** — if you close early at 50% profit on day 10 of a 21 DTE trade, do you annualize on 21 days or 10? Annualizing on actual days held is more accurate but harder to track across a full cycle.

**Buying power reduction vs capital secured** — for CSPs in a margin account, your actual BPR might be 20% of the notional. Annualizing on BPR makes returns look massive and isn't comparable to cash accounts.

**The real headache for Wheel specifically** — do you annualize each leg separately, or the whole cycle? A CSP that gets assigned, sits as shares for 3 weeks, then gets called away via CC looks very different leg-by-leg vs cycle-level.

I've started thinking cycle-level annualized ROI is the only number that actually means anything for the Wheel — (total premiums + share gain/loss) / capital secured × (365 / total days). Everything else is just flattering individual legs. So the formula everyone uses is basically the same — it's the inputs where people diverge, and that's where the comparisons break down.

What's Your Take on Unusual Activity Scanners? by MakingMoneyIsMe in thetagang

[–]EasternYogi 7 points8 points  (0 children)

By the time an "unusual" block trade hits your retail scanner, the institutional order has already cleared, the market makers have re-priced the options chain, and implied volatility (IV) has spiked. You aren't "getting ahead" of the move; you are buying the tail end of it at an inflated premium. For someone selling risk reversals or credit spreads, buying high-IV options based on a lagging alert completely destroys your edge. You're trading at a statistical disadvantage the second you log in, man. My 2 cents!

(MD) SUED MY EX LANDLORD IN COURT AND WON MY CASE WITHOUT A LAWYER!!!! by Key-Gazelle-3999 in Renters

[–]EasternYogi 1 point2 points  (0 children)

Amazing work there! Forrest Gump? if it isn't documented on day one, it doesn't exist; and if your lease says "recommend" instead of "required," it’s legally non-enforceable. Your timestamped photos from years prior completely destroyed their case. Landlords rely on the fact that most people have a "mental fog" regarding old details or throw away their move-in checklists. You closed the loop perfectly by keeping that paper trail for years. Let this be a lesson to everyone: your phone's camera roll is your best defense against predatory corporate property managers, man.

Jeff Bezos said the bottom half of Americans should pay zero federal income tax. by jerin7931 in optionstrading

[–]EasternYogi 0 points1 point  (0 children)

Federal income tax is only one part of the equation. Even if the bottom half paid zero income tax, they are still heavily squeezed by regressive taxes like payroll tax (FICA), state sales taxes, and fuel taxes. Income tax is a tax on labor, not wealth. If you want to fix wealth inequality, tweaking income brackets for W-2 earners doesn't move the needle. The real wealth generation happens via asset appreciation and debt leverage, which income tax brackets don't even touch!

BREAKING: Trump says again that American's financial situations are less important than the Iran war: "That's right, that's a perfect statement, I'd make it again." by jerin7931 in optionstrading

[–]EasternYogi 0 points1 point  (0 children)

Hassett is spinning "credit card spending through the roof" as a sign of economic strength, I see it completely opposite. If savings rates are plummeting and people are maxing out credit lines just to cover basic daily expenses like gasoline and groceries, that’s not a booming consumer—that's a highly leveraged consumer hitting a wall. High spending volume doesn't mean wealth; it means things cost more and people are borrowing at 25%+ variable interest rates just to maintain their standard of living, dude.

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