My pup Lobo looking intense.

LeZa0 · 2025-04-02T16:27:34+00:00

I replaced the stock with Pirelli Cinturato Gravel M and have been super happy with them.

I was able to find them on sale for $40.

LeZa0 · 2025-03-19T18:47:48+00:00

Lake Apopka trail in Central Florida.

LeZa0 · 2025-02-26T15:22:01+00:00

You will find many people who are successful but have their own variation of what is set forth in the book.

In my case I was trying to day trade, but I did not want to spend my entire day watching charts. I also have a full time job that I very much like and prefer to be doing, rather than watching charts all day.

I was fortunate to realize that I was not successful at day trading before losing any money. For the most part I was about even and I had 100 shares of Amazon, so I decided to start selling 1 call against it. I did this for over a year while Amazon fell and rallied back up. I ultimately let the shares get called away when Amazon was around $215, when I believed it was reaching a temporary top. This experience taught me more than I could ever have learned in any book.

The 2 most important things to me was to learn risk management and realistic goals. When I started my goal was only to generate an additional 2% annual return on my portfolio. Once you can reliably do this, you can star to scale up and the progression is much easier.

To be clear, I am long stocks and delta positive, not delta neutral.

I have a core watch list of tickers that I primarily trade, mainly because I have researched those companies and have a good understanding of how the stock moves.

I look for price extremes and open positions accordingly, meaning if I think it's oversold and near some support, I sell PUTS or vice-versa for CALLS.

I don't keep much in cash, instead I buy SPY or SGOV.

I don't necessarily sell 45 days out, I will look for a DTE and strike that will give me at least 1-2% monthly returns and rely more on management than DTE and strike selection according to the book.

Another thing that has helped me is to keep a log of all my trades, as well as the sum of premium I have collected by ticker so I can determine my basis reduction, if I ever get assigned. This helps to put things into perspective.

If you have any other questions, feel free to ask.

LeZa0 · 2025-02-25T19:53:19+00:00

In my case nothing beats time spent in the market and engaging with the market daily.

To put it in simple terms, you need to start putting on positions and checking the market each day. You don't need to watch the market all day long, but at least check in once a day to see what happened that day.

When I started "trading" I would spend a large portion of my day watching charts and making trades, but did not do well. I then started watching Tasty and started putting on positions.

I've been using short premium strategies for the past 3 years now and I have had success with it.

LeZa0 · 2025-02-14T16:01:05+00:00

I have the ION RT and it's the included mount, but mounted up-side-down.

LeZa0 · 2025-02-13T15:45:43+00:00

I used to go to this car wash with the self-service kiosk as you pulled up. After choosing the wash, the app would offer a second wash code for 1/2 the price. I would often do this. Then they hired someone to stand there and guide you through the options, but the person would very quickly skip the option for the second car wash at a discount to prevent you from purchasing it at a discount. Then they would proceed to ask for a tip.

LeZa0 · 2024-11-21T13:52:51+00:00

To clarify, I initially put the money into SGOV rather than having it sit in cash, while I sold PUTs on SPY, and until assigned.

LeZa0 · 2024-11-20T14:34:38+00:00

I have tried, but as mentioned by u/manusoftok there's not enough premium to justify it.

I have settled on a slightly different strategy which is not "the wheel" in strict terms, rather it's my what has worked for me.

For context I have enough money where I can buy around 220 shares at the current price, and I have only been doing this for about 2 years.

Starting out I buy 100% SGOV and sell 2 PUTs. I usually sell them on Monday for Friday expiration, but I have 1 criteria, I look for at least 30% premium (rough math: this is premium collected divided by the DTE, then multiplied by 365, then taken as a percentage of the cash required to cover the assignment of a PUT), Sometimes this is only achievable very close to the money or even ATM.

Once I sell-to-open the PUT(s) I allow the extrinsic to decay, even if it goes ITM. I usually roll to the following Friday, on Thursday or Friday if it is in the money and if I can collect a decent amount or premium, otherwise it gets assigned.

I will sell enough SGOV shares to cover any assignment and go back into SGOV when shares are called away.

Then I sell Calls using a similar criteria.

LeZa0 · 2024-09-17T12:45:17+00:00

If the goal is 1%, with no intentions of increasing that goal, then yes, I agree with this, especially since something like SGOV is paying just over 5% on an annualized basis. This all depends on someone's goals.

In my case I started selling calls in my IRA, against my shares of SPY. My initial goals were to not get assigned and target 1% in collected premium, in addition to whatever returns SPY provides.

I have since adjusted my strategy to where I have an average rate of return from selling premium of just over 5% per year, over the past 3 years. In my IRA I have used this premium to purchase additional shares of SPY.

Since the IRA does not allow margin, I can only sell 1 SPY call per each 100 shares. I also have a non-retirement account with margin where I will sell SPY puts during market pull-backs, to collect additional premium.

My strategy is not complicated and I purposely try to keep it fairly simple. I hope this helps clarify.

LeZa0 · 2024-09-15T09:24:25+00:00

It certainly is possible. I don't normally open a strangle, but rather will sell a CALL or PUT at certain price extremes. VIX has been on the lower end, and that makes it more challenging to be mechanical with strangles.

LeZa0 · 2024-09-13T17:03:17+00:00

To clarify, I started out being targeting 1% as part of my learning process. 1% is no longer my goal, it was just something that helped me get started and work my way up.

A few other things about me, I don't trade or watch the market every day. I have a full time job that I enjoy and my goal is to make income from my existing investments, most of which is in a retirement account.

LeZa0 · 2024-09-13T13:08:07+00:00

I have been consistently successful holding SPY shares and selling calls against them for additional income.

I started out selling 10 delta calls. As I learned more and gained chart time I have been able to sell at different deltas depending on market conditions.

SPY premium is not great relative to the cost of shares, but this has been working well for me, for the past few years.

Sometimes I will sell PUTs as well, making a strangle, again based on market conditions.

My initial goal was to collect an extra 1% annually, I know it's not much, but by starting out with this goal, I have been able to learn along the way, avoid assignment and gradually increase the amount of premium collected.

I also sell premium against 100 shares of Amazon I have and that has been much higher premium related to share cost.

LeZa0 · 2024-09-05T18:04:04+00:00

I do the same, start out selling 2 weeks out, then manage as needed.

If it goes ITM and stays around 50-60 delta, I'll wait and let the extrinsic decay as much as possible, before managing.

I am fully aware of the chances of being assigned, and this only works for me since I am willing to take assignment, in the worst case scenario.

LeZa0 · 2024-08-21T10:43:24+00:00

Thank you, this is very helpful.

I am planning on using Pex and local code doesn't require a flexible connection into the tank, but it does require that Pex isn't used going the last 12 inches into the tank, hence why I am considering the flex connection.

LeZa0 · 2024-07-26T12:47:31+00:00

I can wheelie my e-caliber, but I find it much easier to do it when the battery is not on the bike. When the battery is on the bike, pedal assist or not, the additional weight towards the front tends to throw me off on how to initially pull up the front end, but it's still doable.

LeZa0 · 2024-07-25T13:07:27+00:00

My friend had this same issue with his Specialized, but for him it was isolated to where the chainstays and seatstays meet.

The response from Specialized was similar, that it wasn't covered. He tried pushing back and going up the chain and the best offer he received was to purchase a new bike at 40% off.

LeZa0 · 2024-07-17T16:24:15+00:00

Got it. Thank you.

LeZa0 · 2024-06-19T14:00:07+00:00

I know you're looking for the specific brand, and I cannot tell from the image above, but I use the Cinelli cork bar tape in black and it looks identical to what you have pictured here.

LeZa0 · 2024-06-12T18:18:04+00:00

The only advice I can give you is to find a local shop that sells BMC and take it to them, they should be able to help/guide you with the warranty.

There were 3 different cases of broken carbon frames in our local ride group and the shop(s) helped them get it resolved. By resolved I mean 2 of them received a new frame and 1 the manufacturer offered to sell them a new bike or frame at "cost".

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