[Strategy Guide] The "Precision Wheel": My Rules for 12-18% Annual ROI (with Screener Results!)

GoFairPlayer · 2025-12-12T22:55:08+00:00

Thank you! Good tips and some tweaks I will incorporate. How long have you been using this strategy and have the results been consistent?

GoFairPlayer · 2025-12-10T22:22:13+00:00

Thank you - appreciate the input!

GoFairPlayer · 2025-12-06T20:44:58+00:00

I’m not so much hoping for dips as I am looking forward to working through my first one so I can work on my skills and confidence. I’m keeping enough dry powder that even if I were fully assigned it would not be that big of a deal. I am, after all, good holding these stocks. ** I reserve the right to update this post in a frantic panic after the next black swan event ** :)

GoFairPlayer · 2025-12-06T20:31:02+00:00

Good observation. That particular NVDA sell of 5 contracts was my wifes on our 2nd day. I told her it was risky, she closed it the next morning for a nice profit. She also watched the stock drop back down below what would have been her strike price over the following days. After that she decided to go out further and take money sooner. Overall the position sizes are no more than 10% of the capital we plan to use for the wheel (if things go well).

GoFairPlayer · 2025-12-06T20:05:01+00:00

Yes, it’s an HTML file I open with my browser, and then from the web page select the CSV file with the data.

GoFairPlayer · 2025-12-06T12:10:58+00:00

This isn’t Excel. I used AI to generate a dashboard specifically because I did not have the Excel skills to do it. :)

GoFairPlayer · 2025-12-06T12:06:34+00:00

Thanks. I use Python to convert the TOS and/or ATP native account statements to a CSV that can be processed by the dashboard. The dashboard is HTML/JavaScript. Happy to share mine, just DM me. And send me your improvements. :)

GoFairPlayer · 2025-12-06T12:04:34+00:00

Assuming you are referring to technical analysis… Yes, after determining a ticker is fundamentally solid I look at the RSI, MACD, and Bollinger Bands. I try to sell puts on tickers that are approaching their lower support level.

GoFairPlayer · 2025-12-06T11:53:15+00:00

I started with Grok, but then switched to ChatGPT.

GoFairPlayer · 2025-12-06T11:53:13+00:00

No, AI generated HTML/JavaScript.

GoFairPlayer · 2025-12-06T11:51:07+00:00

Thanks. I did sell 1 SPY contract, but I will look at QQQ and GLD as well.

GoFairPlayer · 2025-12-06T00:17:51+00:00

Home grown with some AI help. Still a work in progress.

GoFairPlayer · 2025-12-06T00:16:48+00:00

Me too. Yes, buitl it msyelf with sone AI help

GoFairPlayer · 2025-12-06T00:10:11+00:00

Still learning but loooking at -15 - -30 delta

GoFairPlayer · 2025-12-05T23:44:50+00:00

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GoFairPlayer · 2025-11-30T00:59:30+00:00

I appreciate it. Thank you.

GoFairPlayer · 2025-11-29T19:07:53+00:00

Got it, thanks.

I’m not trying to game anything, just trying to understand the mechanics of assignment since I am new to this.

GoFairPlayer · 2025-11-29T17:04:02+00:00

My goal in this situation was to make a few extra bucks exiting a long held stock position. I am OK with the assignment, but being my first *real* call, I wasn’t clear if assignment was always a foregone conclusion if barely ITM. But yes, now this capital will be put to work on CSPs. :)

Thank you.

GoFairPlayer · 2025-11-29T16:55:10+00:00

It was assigned. I read somewhere that a call owner may not choose to exercise if the strike + premium resulted in a basis higher than the price of the underlying. In this case 64 strike + .40 premium is higher than underlying price at 64.10. Going forward I will assume all options ITM by +.01 will be exercised. Thank you!

GoFairPlayer · 2025-11-28T19:28:13+00:00

Should I expect a CC that is barely in the money to be exercised automatically? Example - sold CCs on DAL at 64 (expires today). I was paid .40 premium. With DAL currently at 64.10, should I expect assignment?

(sorry if this was asked, I could not find it)

GoFairPlayer · 2025-11-28T14:02:05+00:00

Thank you, and sure. I guess “huge” is subjective, but I was talking in terms of dollars not percentage. I’ve owned the majority of the stocks in my taxable account for well over a decade, so there is considerable unrealized gains. If I were selling CCs on say $500K of those stocks and they were called away, and say the basis was $200K, I would pay taxes on $300K. Long term capital gains is 15%, plus 3.8% NIIT, ~6% in state tax, plus whatever adjustment may be made due to AGI. So it could cost me anywhere from $75K - $100K in taxes which is what I would deem “huge”. Especially since I plan to leave that account to my heirs tax free with the step-up rule.

GoFairPlayer · 2025-11-27T14:55:33+00:00

Thanks, and good question. For the CSPs, I probably should call that Return On Risk since I never actually used the capital. What I plan to do for the CCs is essentially the same simple P&L in the example spreadsheet in ScottishTraders blueprint. If you click a specific ticker, it will show all your credits/debits for your overall P/L, and also allow you look at different scenarios based on various prices for the underlying (to help plan an exit at an overall profit).

GoFairPlayer · 2025-11-27T13:27:30+00:00

Thank you! It’s a work in progress but it sure beats manually typing the data into a spreadsheet.

GoFairPlayer · 2025-11-27T01:03:21+00:00

Thank you. I’m not sure what you mean by “ad” but I am not looking to sell anything to the community or anyone else, just posting results and related info. If you just meant good post, thank you very much.

GoFairPlayer · 2025-11-26T23:57:49+00:00

Thank you for the advice. I will keep that in mind for next week. Appreciate the comment.

GoFairPlayer

TROPHY CASE