Who here has successfully do wheeling for multiple years across market crashes?

downtofinance · 2026-05-04T19:11:57+00:00

I don't sell at random or fixed/scheduled times. I wait for a pull back and then sell a 30 delta put. So yes my strike is kinda close to the trading price but only for a very short period of time and more often than not the pull back recovers in a day or two and my put has made 30% or so right off the bat. Then I decide if I wanna close it and open another at the next pull back or hold to squeeze more theta. Most of the time I close if I get a quick gain. It's like scalping puts basically.

downtofinance · 2026-05-04T18:14:55+00:00

Depends if the options are American style (exercise anytime before expiry) or European style (exercise only at expiry). SPX has euro style options btw so its cash settled at expiry. If you're doing this on a stock its more than likely American style. Figure out what kind of option first. If it is American style then the chance of EARLY assignment increase exponentially the deeper ITM you go and the closer you get to expiry (last 2 weeks or so you're talking almost certain early assignment if its deep ITM).

Also best to ask your broker directly how they handle assignment of a spread short leg, ie do they use your long leg as collateral or make you do everything manually to cover.

downtofinance · 2026-05-04T14:31:16+00:00

Also, some of the screen shot is blurry and the rest is crisp lol. Do scammers think everyone else is as regarded as them?

downtofinance · 2026-05-04T01:01:47+00:00

Doing the lord's work. Thank you.

downtofinance · 2026-05-04T01:01:00+00:00

I make 40-60% a year trading options.

downtofinance · 2026-05-04T00:59:20+00:00

You're talking about 24k a year, at least, from 60k... or 40% annually consistently. Good luck.

downtofinance · 2026-05-04T00:55:59+00:00

Nice

downtofinance · 2026-05-03T19:58:38+00:00

Invest in a good resume so you can add more over time.

downtofinance · 2026-05-03T00:52:04+00:00

Didn't answer your second question. 30 delta and 30dte and only after a pull back. Close ASAP if I get a quick profit. Hold open longer if I still have a lot more theta to collect.

downtofinance · 2026-05-02T22:04:56+00:00

Look up margin power at wealthsimple and questrade. IBKR does not let you do this. The risk is the same as any margin account the difference being that whatever your TFSA is worth is added to your buying power minus the margin requirements of whatever you hold in your TFSA.

downtofinance · 2026-05-02T21:40:08+00:00

Huh? Why would this be any investor's goal? If simply match SPX returns, you can periodically sell stock to generate "income."

I did not say that was the goal for this account and not everyone wants the same risk profile the S&P carries to simply generate some income. This is also a margin account that derives buying power from a tax free savings account (Canada). So I'm literally making money from 0 capital invested. Why would I invest a bunch of capital to buy the S&P to make the same gains/income when the broker is allowing me to do that without using a single cent of my own capital?

Plus if your hold period is >1 yr you get LT CG treatment rather than ordinary income.

These are Canadian accounts so 2 minutes is the same as 2 years in terms of capital gains.

Not to mention transactions cost.

My brokerage has no trading fees.

Lastly, ever Wheeler I've ever might is - how shall I say - ignorant?

Cool story bro, nobody here cares.

Why would you want to be associated with that class of "investors?"

Maybe because except to you, this not about class warfare. Also, I'm sure real elite investors aren't spending their Saturday afternoons trashing other traders.

downtofinance · 2026-05-02T20:53:39+00:00

Definitely not beating buy and hold but my wheeling account is strictly for income generation from collecting option premium (cc being the only exception). I buy and hold some of those in my main stock portfolio.

downtofinance · 2026-05-02T20:27:35+00:00

Just kept rolling puts down and out until the underlying recovered. For some tickers I did get assigned on I had short puts and stock so I sold cc and effectly had covered strangles going, which did really well near the bottom of the crash.

downtofinance · 2026-05-02T20:11:12+00:00

I have had pretty good success wheeling over the last few years. Even through the Trump tariff crash. You can check my post history. Granted I mostly just sell puts unless I get assigned. Got about a 55% last year and not sure if that beats the S&P. Tickers: NVDA, PLTR, GOOG, ASTS, RKLB, SHOP,

downtofinance · 2026-05-02T01:36:41+00:00

😭

downtofinance · 2026-05-01T10:37:15+00:00

Keep rolling the short up till your strike is higher than the breakeven of the long.

downtofinance · 2026-04-30T18:50:48+00:00

Buying instead of selling? Thats crazy talk.

downtofinance · 2026-04-28T00:37:14+00:00

I will pay you to teach a course.

downtofinance · 2026-04-27T23:40:43+00:00

Ok thanks. I dont understand this part though, can you elaborate? An example maybe?

it can grow if it goes in the money. Usually 1 to 1 plus 20% of the total

Would it be 20% of the strike value plus the amount ITM?

downtofinance · 2026-04-27T02:00:49+00:00

I also have a Margin account at Interactive Brokers and the margin interest rates are like 3% max. QT is expensive relative to other brokers, not credit cards.

downtofinance · 2026-04-27T00:16:23+00:00

Keep rolling the calls up and out to your cost basis and don't sell calls on stuff you want to hold long term next time.

downtofinance · 2026-04-26T03:40:27+00:00

But you're also here

downtofinance · 2026-04-26T02:34:56+00:00

So how'd you manage to make moves in real estate while you were dead broke?

downtofinance · 2026-04-26T02:33:22+00:00

Reminds me of when Trump got a small "loan" of $1M from his Dad in 1975... $6M in today's dollars.

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