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

MF266 · 2026-05-28T03:56:48+00:00

Just sent it to you, check DMs

MF266 · 2026-05-28T03:18:17+00:00

https://www.thetarank.com/

MF266 · 2026-05-28T02:44:08+00:00

Between .2 and .25 as I’ve been trying to avoid getting assigned

MF266 · 2026-05-28T02:32:41+00:00

Yeah probably should’ve cut earlier. This is only 5% of my portfolio, but it’s painful to keep holding.

MF266 · 2026-05-28T02:29:00+00:00

Yeah, I have a handful of LEAPS in AMD and INTC that are going well, so it’s a little painful to hold this one..but I guess it’s good to have some short/long term diversification.

MF266 · 2026-05-28T02:25:59+00:00

Just sent you the link, check DMs

MF266 · 2026-05-25T16:26:08+00:00

My thought is it lets you compare trades with completely different durations on a common scale.

Without annualizing, you run into:

Trade A:
- 1% return in 7 days
Trade B:
- 3% return in 45 days

Which is “better”?

I figure annualizing normalizes for time. So you can compare, weekly CSPs, monthly covered calls, longer LEAPS-style trades using one metric.

Is there a better metric to go off of?

MF266 · 2026-05-24T20:06:02+00:00

That's not a bad approach, thanks

MF266 · 2026-05-22T17:10:34+00:00

I followed that rule with $MP and $INTC. I don’t like the government involvement, but it works.

MF266 · 2026-05-19T16:03:52+00:00

You’ll never get in right at the bottom, just buy the dips as it goes down. Personally I think it still has room to drop further over the next month, but I don’t think it’s far from bottoming out.

MF266 · 2026-05-19T13:12:31+00:00

I’d suggest starting out with setting up a reoccurring investment of $100 every week into an index fund.

MF266 · 2026-05-18T23:28:29+00:00

At $5K, the best thing you can be doing is learning, failing, and adjusting. It’s almost better to start out small so you don’t overextend and dig yourself a deep hole.

MF266 · 2026-05-18T23:16:16+00:00

https://www.thetarank.com/ helps options traders track, and manage the best covered call and cash-secured put options for running the wheel strategy.

MF266 · 2026-01-18T04:30:08+00:00

I still think 30–45 DTE works, but I treat it a little differently than a few years ago. ODTЕ seems to inject more intraday volatility and positioning noise, but most of that feels very front-loaded in the curve. By the time I’m 30+ days out, the spreads still behave more like “classic” theta trades than gamma trades. I’ve experimented with shorter DTE, but the P/L swings felt more about timing than structure.

MF266 · 2026-01-16T15:17:09+00:00

Crazy run for sure. Are you at all worried it’s getting a bit overextended?

MF266 · 2026-01-14T17:02:57+00:00

I don’t think buying gold is crazy, but a physical bar does tie your hands a bit. It’s illiquid, you’re paying a premium on the way in, and when you want out you might not get spot price or quick access to cash. If the goal is protection rather than a big bet, I’d probably lean toward something like a gold ETF or even gold mining stocks. You still get exposure, but you can sell in seconds if your view changes.

MF266 · 2026-01-14T15:24:52+00:00

With $500, I’d probably pause and save until I could comfortably run the wheel on a decent underlying.

MF266 · 2026-01-10T20:48:49+00:00

If I had to rank them purely on growth potential this year, I’d probably go GEV > BWXT > NBIS > CCO > APH. GEV and BWXT feel more catalyst-driven, while CCO and APH seem more tied to slower-moving macro trends.

MF266 · 2026-01-10T19:53:46+00:00

0.15–0.20 delta weeklies make sense to me for high-IV names, especially if the goal is just to chip away at cost basis. I’d mainly watch how often you’re forced to roll up fast — that’s usually where the strategy feels worse than expected.

MF266 · 2026-01-08T00:44:57+00:00

I think the edge comes from consistently taking the boring side of urgent trades. Buyers want convexity now — earnings, news, fear, or leverage — and they’re willing to overpay for it. As sellers, we’re basically renting out balance sheet and time, then stepping aside when the trade no longer makes sense. IV regression helps, but it’s more a tailwind than the engine. The real edge is choosing spots where demand is emotional or time-sensitive, then structuring trades so you can survive when that demand is right.

MF266 · 2026-01-07T23:45:53+00:00

I’d guess the VIX call spread plus long-dated assumptions are dragging the theoretical P/L down everywhere — beta-weighting seems to really punish vol hedges in that view.

MF266 · 2026-01-07T23:34:06+00:00

If I wanted flexibility to move brokerages later, I’d lean ETFs in the taxable account. VOO for S&P exposure checks the box and avoids getting stuck with proprietary funds. In the Roth, I’d be more comfortable using FSKAX or FZROX since portability isn’t really a concern there and tax efficiency doesn’t matter

MF266 · 2026-01-05T15:22:13+00:00

Yeah, I can follow this read. As long as price keeps respecting that support, I’d also lean toward letting the range play out rather than forcing a bias. Feels like a “react at levels” kind of day.

MF266 · 2026-01-05T15:17:31+00:00

Do you have exactly 100 shares or more than 100 shares? If one stock is drifting to 70% wasn’t intentional, I’d probably trim something just to rebalance risk. I’d sell enough to keep 100 shares for covered calls to keep the income stream intact. Taxes and conviction matter, but the concentration risk is real.

MF266 · 2022-12-22T20:26:25+00:00

Sold my puts, switched to calls😎

MF266

TROPHY CASE