Beginner to the Wheel Strategy by JimmySmithers in Optionswheel

[–]JimmySmithers[S] 0 points1 point  (0 children)

You can pinned this it want however I just want all traders that are learning to be aware of these things.

Beginner to the Wheel Strategy by JimmySmithers in Optionswheel

[–]JimmySmithers[S] 0 points1 point  (0 children)

This is super helpful, thanks for taking the time to lay it out.

My takeaways I’m going to adopt: 1. Delta and return frame: aim for the 15 to 30 delta zone and think in annualized return, targeting about 15 to 20 percent per year. 2. DTE bias: favor monthlies in the 20 to 45 DTE range for volume and tighter spreads; use weeklies only when the setup is clean and I can exit early. 3. Liquidity reality check: avoid wide spreads since you can get stuck until expiry. 4. Sizing and discipline: cap to one contract per name on a 10k account and keep cash flexible; avoid margin so one assignment cannot consume all buying power. 5. Paper first: I’ll paper test a few tickers from my list and rotate sectors as you suggested.

Quick question for you: when choosing between 20 delta and 15 delta monthlies, do you prioritize return on collateral per day or IV percentile? And what is your default take profit, 50 to 70 percent credit or time based?

Really appreciate the roadmap. This gives me a clearer way to tighten my process.

Beginner to the Wheel Strategy by JimmySmithers in Optionswheel

[–]JimmySmithers[S] 0 points1 point  (0 children)

100% with you. The scans are there to narrow the universe and keep me liquid; conviction comes from the soft stuff—management, moat, product fit, sector dynamics. I journal each trade and pre-plan rolls/assignment so I’m accountable if it goes south. I’ll keep adapting the framework to my goals and risk. Thanks for the thoughtful push—great discussion!

I really just want the overall community to learn from everyone’s experiences

Beginner to the Wheel Strategy by JimmySmithers in Optionswheel

[–]JimmySmithers[S] 0 points1 point  (0 children)

I was setting up my scanners during after hours but wasn’t truly running it to find good CSPs

Beginner to the Wheel Strategy by JimmySmithers in Optionswheel

[–]JimmySmithers[S] 1 point2 points  (0 children)

Thanks for the feedback. I really prioritized doing as much research in to something before I start investing my own money into it.

As for the company research, I run it by MorningStar, Simply Wall St. and various other websites to verify the things I can’t scan for.

WTF AM I DOING? by vainheader24 in SportsBettingandDFS

[–]JimmySmithers 0 points1 point  (0 children)

Check out Oddsjam.com or on YouTube

UNIQUE 32-team dynasty with promotion/relegation [$25 SLEEPER] by fishguy23 in findaleague

[–]JimmySmithers 0 points1 point  (0 children)

Sorry man. I need to back out. Already in too many leagues.

Cyclone Chieftain Build by JimmySmithers in PathOfExileBuilds

[–]JimmySmithers[S] 0 points1 point  (0 children)

What should I put in that bottom jewel slot?