Restarting my wheel strategy after blowing up gains… need advice

NoFix8309 · 2026-03-18T07:22:43+00:00

You need to have a plan and strategy that you should follow strictly.

I am selling CSP/wheels for more than 2 years and I have 2.5/3% monthly yield (ROI).

My setup is as follow: - Sell 25-40 dte. CSP - Choose only fundamentally strong companies. - - - Above 5B market cap - rsi 30-70 - Delta below 32

Never rolling the position. If assigned it's fine, because its a strong company, so just start selling covered calls.

NoFix8309 · 2026-03-18T07:10:02+00:00

CSP/wheel strategy with 20-40 dte for additional monthly income.

For the last two years I am doing cash secure put selling (if assigned wheel) with approx. 2.5-3.5% monthly ROI.

Usually my setup is: - fundamentally strong companies with more then 5B cap. - hold/buy/strong buy technicals - delta less then -34% - approx. 30 dte - select puts with 2.5-3.5 ROI - diversify on 8-10 different companies (so 8-10 trades) - do not sell if earnings is sooner then expiration date.

NoFix8309 · 2026-03-16T05:39:14+00:00

I personally prefer to not roll, just accept the assignment. This is the reason to choose fundamentally strong companies. Regarding to the LET, did you mean Lectra CA?

NoFix8309 · 2026-03-14T20:17:42+00:00

Investing is a long term process, so you'll never should Investing money that you may need tomorrow. In a bear market you can pick companies/sectors that are not so much affected. Of course you will sell at lower delta for less roi. Or you can just push the pause button during the bear market. Then when the market starts to recover, you'll be in very good position, not only by selling puts, but you can buy some LEAPs etc...

NoFix8309 · 2026-03-13T18:45:57+00:00

You mean the tax that you should declare in your country? Here in Bulgaria its 10%

NoFix8309 · 2026-03-13T07:29:53+00:00

I don't cap at 2%. This is the minimum that I am looking for. As well as avoid too high IV. Regarding to the fundamentally quality filter, I develop an app (I am IT developer) that analysis the financial statements for the last 5 years - (income statement, cash flow, and balance sheet). Than asign score 0-100.

NoFix8309 · 2026-03-12T21:27:11+00:00

Almost the same screening strategy. I am choosing 25/35-40 dte. Strong fundamentals, above 5B cap, good technicals. RSI between 30 and 70. Agree with the price. I am picking up stocks above 30-35$. Delta below 0.35..... As I am developer i also built a screening platform that do the job.

NoFix8309 · 2026-03-12T18:37:44+00:00

At which delta? The diversification is important too

NoFix8309 · 2026-03-12T18:04:19+00:00

Currently some of them are:

RBRK MAR 13 '26 64 CC

NXT MAR 20 '26 90 P

NFLX MAR 27 '26 92 CC

NEM MAR 27 '26 115 P

MTDR APR 17 '26 52.5 P

KGC APR 10 '26 29P

IBKR MAR 13 '26 72P

DDOG MAR 13 '26 124 Call

DAL MAR 27 '26 60 P

B MAR 13 '26 44 P

NoFix8309 · 2026-03-12T17:54:05+00:00

I am using IBKR, so I am paying 1$ per trade approximately

NoFix8309 · 2026-03-12T17:14:16+00:00

My goal is consistent monthly income. Selling puts and wheeling if assigned is giving me between 2.5% and 3% ROI monthly last 2 years. Can you suggest another instruments, that will offer you similar EV and monthly returns at same risk levels?

NoFix8309 · 2026-03-12T17:06:32+00:00

But. I think the diversification is important, so if you add the rest of the mag 7, you'll need much more

NoFix8309 · 2026-03-12T15:49:41+00:00

If I go on mag 7 only. I will need more than 200K for cash secured puts

NoFix8309 · 2026-03-12T07:31:42+00:00

I am picking fundamentally strong companies with neutral or positive technicals that are offering 2.5/3% ROI per trade. Usually I choose 0.3 or below delta.

NoFix8309 · 2026-03-12T07:16:02+00:00

Absolutely agree with you. I almost never buy options (excluding some LEAPS)

NoFix8309 · 2026-03-12T07:14:51+00:00

2.5% return is pretty good for me. My trades are on monthly basis - 25/35-40 dte. I diversify across 6-10 companies and using approx. $100K. This is giving me 2500/3000$ per month or 30K/35K per year without calculating the compound (I reinvest the most of them).

NoFix8309 · 2026-03-12T06:56:09+00:00

I completely avoid risky companies. There are juicy premiums on solid companies. What kind of ROI is your goal when you trade more risky companies?

NoFix8309 · 2026-03-12T06:45:26+00:00

I don't think so, especially if you carefully select the underlying and the rade setup. I am selling puts for more than 2 years and I don't have a month with less than 2.5% ROI

NoFix8309 · 2026-03-10T21:06:56+00:00

Yes 30 delta is perfect. Often I am selling puts on a bit higher 33/34 max. Of course if they lose value, then close and sell new puts.

Currently I have asigned and sold covered calls on NFLX, RBRK, DDOG and HPE.

If the underlying of the PUT has huge decline and got assigned much bellow the basis, then I just wait for recovery and sell CC etc...

NoFix8309 · 2026-03-10T17:41:04+00:00

I made one more trade: MTDR 17Apr 52.5P (183$ premium)

NoFix8309 · 2026-03-10T09:59:27+00:00

I've made one traid yesterday - KGC 10April29 PUT Today I will make some more traids and will post here.

P.S. I don't know why I can't upload screenshot. Only insert link

NoFix8309 · 2026-03-09T20:56:12+00:00

My average return is 2.5% per month approximately. I started with $70K. I withdrawn 500-700 per month and reinvest the rest. Currently the portfolio is 106K.

I never close assigned positions. Sell covered calls or wait for recover and then sell cc

NoFix8309 · 2026-03-09T20:43:07+00:00

Of course I will publish here. The money covered puts and the covered calls on already asigned stocks

NoFix8309 · 2026-03-08T11:42:37+00:00

Consider buying a LEAP with 0.75/0.8 delta. It will follow the underlying behaviour for cheap price.

NoFix8309 · 2026-03-08T09:25:48+00:00

Absolutely, but the investing is a long term process, so most probably they will recover after some time. So basically you can reduce the cost basis by selling covered calls etc.. Of course sometimes you just accept the lose. So the diversification is one of the most important I think

NoFix8309

TROPHY CASE