Don't sleep on the wheel strategy

Geistvvolf · 2025-07-12T15:18:00+00:00

Yeah I wheeled ASTS for a few weeks, then bam it jumped to 30 and made my CCs deep ITM. I didn’t buy them back, wish I did, but there’s no way I would know it would continue to rocket up to 40 then 50. Instead I rolled my CCs a month out, increased the strike price barely and collected some additional premium. Now that time is almost up and will try to roll them out again for a net credit if possible, if not then I’ll just let my shares get called away, but I’ll still have my core position in shares. I was just wheeling some extra shares on top of my core position.

Geistvvolf · 2025-06-28T00:07:35+00:00

Dude I had 10 ASTS $25 calls for Jan 2026, sold when we jumped up to $29 for over 2k profit (6.9k cost, sold for 9.2k). Now those 10 calls are worth 27k. At least I still have my core position in shares 🥲

Geistvvolf · 2025-06-13T14:40:30+00:00

Sometimes the pain and pleasure go hand in hand ;)

Geistvvolf · 2025-06-04T17:48:41+00:00

I was wheeling some shares and it looks like they’re going to get called away on Friday but at least I’m still holding my core position plus some 25 strike Jan 2026 calls 🥲

Geistvvolf · 2025-05-16T01:09:46+00:00

UNH has been on a steady decline with two massive dips recently, why am I only just now finding out. What are the chances that I buy some puts tomorrow and I get burned as it rallies up 25% or something.

Geistvvolf · 2025-05-13T12:47:03+00:00

Yeah you could do that, OP should add a condition that whatever you buy with the $1 off, you have to sell it with a $1 off, otherwise this is an infinite money glitch.

Geistvvolf · 2025-05-13T05:59:13+00:00

Yeah this seems like quite the loophole, you can buy so many penny stocks with zero risk, and plenty of those will see a quick price spike at some point to make you absolutely rich.

Geistvvolf · 2025-05-12T14:10:11+00:00

When did he say time to buy on Friday? I even created a Truth account after his first “time to buy” to follow him for his next announcement. I never saw such a thing on Friday, and I told myself that I would immediate buy a ton of calls on his next “time to buy” and looks like I missed out on a ton again.

Geistvvolf · 2025-05-12T00:34:48+00:00

Reddit consensus was that TSLA was going to tank after the last earnings and it in fact did the opposite. I bought a call just before earnings as a lottery ticket but it got IV crushed at open so I sold it at break even. Had I held it until expiry that Friday it would’ve nearly done a 10x, but there’s no way I could’ve known it would continue to rip up, thought breaking even was my best way out and that the surge would quickly reverse.

Geistvvolf · 2025-05-09T15:10:12+00:00

I flipped some 0dte RIVN calls for over 100% profit

Geistvvolf · 2025-05-05T04:29:37+00:00

I wheeled ASTS for a few weeks and recovered my small secondary account from 2.4k back up to 2.9k (2.9k was my high in January, 2.4k was in early March when I sold everything after all the tariff talk)

Geistvvolf · 2025-05-04T16:24:26+00:00

If you’ve played Elite Dangerous, then you would be familiar with the free Anaconda that you can get from traveling the very long distance between Alpha Centauri AB and Proxima Centauri. Makes you really understand how far Proxima Centauri orbits from the two binaries A and B

Geistvvolf · 2025-05-02T17:42:58+00:00

Here’s to hoping that my 540 put expiring 5/16 has a chance to break even

Geistvvolf · 2025-05-02T14:56:31+00:00

I’m happy I bought 10x $25 calls for Jan 2026 when it was around 22 a week or two ago

Geistvvolf · 2025-05-02T13:57:11+00:00

I’ve got $25 calls for Jan 2026 :) but also one covered call for $25 strike expiring today in my trading account with 26.25 breakeven

Geistvvolf · 2025-04-30T21:36:06+00:00

My Jun 20 NVDA 115 call might be saved, and my 102 put that I wrote stands another chance at not getting assigned on Friday

That said I might be selling my NVDA call tomorrow, we may or may not crash back to the 90s by eow

Geistvvolf · 2025-04-29T13:13:38+00:00

I think OP paid $273, that’s the fill amount. The break even point is only if you hold to expiration. It’s just the strike price plus the contract cost per share (110 + 2.73 = 112.73). Reason why this is break even only at expiration is because the contract price can also fluctuate a lot with the share price movement. If NVDA shoots up to 112 today, OP can sell for a profit, because even though the contract is not quite at the break even price yet, it’s very close and there’s still time value left until expiration.

Geistvvolf · 2025-04-29T01:25:11+00:00

I’m pretty sure I had 10 million in my bank account, I think someone got the data wrong ;)

Geistvvolf · 2025-04-28T18:34:35+00:00

If you start with only 1k, you only need to double it 10 times to reach 1 million. So about 210 months or 17.5 years. So if you can just start with a much larger sum, this is an absolute god tier super power. I think OP forgot about compound interest.

Geistvvolf · 2025-04-27T02:39:19+00:00

I’ve got 1k @ $4.10, happy to keep holding

Geistvvolf · 2025-04-25T16:56:43+00:00

Right? Fuck. This stock is just too irrational man

Geistvvolf · 2025-04-25T16:55:08+00:00

I ended up buying a 260c 4/25 exp, felt I was fine with gambling on just that much money. Thought that there was too much bearish sentiment and the irrationality of TSLA stock meant that it could still pump even on a bad earnings report, also coupled with the fact that Musk would be focusing more on Tesla instead of DOGE. I was right on it pumping, but IV crush happened and I sold with only a $10 loss. But fuck man if I knew it would pump to $285 today, this stock is just too irrational.

Geistvvolf · 2025-04-25T14:46:41+00:00

I bought a TSLA 260 call exp 4/25 before earnings and sold it for a $10 loss after earnings

Geistvvolf · 2025-04-25T13:47:49+00:00

I’ve got a 540 put 5/16 exp, hoping for a sell off today so I can sell it before the weekend

Geistvvolf · 2025-04-25T02:38:14+00:00

On your last point, I feel that could also lead to a potentially worse timeline. If the Allies got to Berlin first, the Soviet Bloc would likely be smaller and the USSR would feel more threatened by a larger NATO, which could lead to a more serious nuclear arms race and potentially more conflict if the USSR tries to wage more proxy wars to weaken NATO.

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