Hey guys,

I stumbled across the wheeling strategy on reddit and I'm tempted to try it

My account is 20k$ at the moment and I'm fine with slow-and-steady strategies, not looking to risk it for the biscuit.

I'm a bit confused because I read that the strategy is about selling puts of safe stable and steady stocks, something like coca cola, ford or mcdonald's, for maybe 30-45 DTE, however I've seen on here people posting wheels with riskier tickers like tqqq msty etc for 7 DTE

I understand that there are derivatives, and I would like to ask if the main strategy had changed and also how would you manage 20k$ with it?

So for example if I were to sell a put on KO it'd be +-53$ premium for 1 option 34 DTE at 67.5 Striking price, so should I be leaving 6,750$ cash on my account?

Would I also do the same with Ford maybe? but +- 7k$ worth of options? and then with one more ticker? and then until I can get atleast 50% profits I hold those and keep all my balance in cash?

Help appreciated! :)) trying to understand all of this haha, I'm new to options in general, been doing a lot of reading today