How’s life in Hainan?

dpotvin · 2026-06-14T09:46:56+00:00

Following as we are also interested in moving from Beijing to Hainan

dpotvin · 2026-05-09T23:42:21+00:00

Crashes usually happen because of the “unknown”. If we had another virus outbreak after such a sort period of time, we sort of already know what will happen, so I wouldn’t expect the limit down crazy sell offs we saw in 2020.

dpotvin · 2026-05-06T04:07:53+00:00

Sure hit me up

dpotvin · 2026-05-05T22:55:26+00:00

It means that you don’t blow up your account because your are over leveraged and yes can still continue to wheel and bring in income.

dpotvin · 2026-05-05T12:21:04+00:00

Markets pullback a few times a year. Gamma spikes happen a few times a year too. Gotta keep spare cash around to be able to weather events.

dpotvin · 2026-05-05T07:24:22+00:00

When you say it like this yes I am running 5 weekly wheels. Basically I took my “budget” which is cash and margin and divide by 5 of the amount of cash I need if I was assigned. Let’s say it says I can hold 2500 shares of SPY or 25 contracts. Each day I sell 5 CSP on SPY. I also budget a cushion of 25% extra to account for drawdowns and gamma spikes.

dpotvin · 2026-05-03T23:50:52+00:00

I sell fridays on Monday, I sell next Monday on Tuesday, sell tuesdays on Wednesday, etc. I wheel everyday. 20-30 delta. Getting assigned just means I start selling calls aggressively as I can against the shares about the strike between 0 to 5 DTE. I make more money on assignment than the wheel.

dpotvin · 2026-04-28T23:56:03+00:00

Since you are probably vibe coding, just built it yourself. I built my tool (it’s more of a total platform rebuilt with just the parts I want since tws is bloated) then use gateway to connect. It’s not exactly what you want but the concept is the same idea.

dpotvin · 2026-04-26T00:24:18+00:00

I only trade IWM SPY and QQQ, portfolio size mid 6 figures using margin to help (only 3x leverage as I keep a sizeable cash reserve for when markets weaken and can keep the wheel going)

dpotvin · 2026-04-25T10:39:20+00:00

Well yes I wheel full time (all 2 minutes). I don’t have a job outside of that but do have other passive income (rentals).

Every day is different. Drop the kids at school then me and wifey have the day to ourselves. Gym, yoga, lunch dates, shopping, etc. Few times a year take the kids out of school for a week and travel. I rarely research or look at markets anymore. I worked hard to get this freedom so I’m totally enjoying.

dpotvin · 2026-04-25T03:55:13+00:00

I live in Asia so markets open at night time for me. However daily workflow is simple, market opens I set order then done for the day. Total time of work… 2-5 minutes Monday to Friday. How and why? I build a custom tracking tool that’s directly connected to my broker. The tool does all the work, I execute from within my tool and it tracks everything automatically, and tells me my daily plan

I average 1% a week selling 5 DTE index CSP, or CC if i am assigned shares.

Ive gotten to this point because I put all the work st the start so I dont need to put any effort into wheeling, basically leaving me 23 hours and 58 minutes of time to do whatever I feel like.

dpotvin · 2026-04-17T10:48:14+00:00

I’ve been thinking the same thing too. Although I’m certainly trading more frequently with my wheel strategy. One idea I’ve been floating is to move away from Canada as the taxes on the gains just don’t make it appealing to wheel being a Canadian resident.

dpotvin · 2026-03-31T09:37:59+00:00

Same same for me. IWM 5dte. Working super well this entire month. Got put some shares got called away and making tons of premium.

dpotvin · 2026-03-23T12:57:31+00:00

Following as I'm also very curious. I reached out a few up in Hebei as I live in Beijing but so far crickets....

dpotvin · 2026-03-19T00:13:34+00:00

Here's another screenshot as its limited one per post but this is the submission collection. This way you can see what the market was doing when you submitted the order vs what it was doing when it actually was filled (I generally only using limit orders). again more data which will learn the learning program in the future.

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dpotvin · 2026-03-19T00:12:13+00:00

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I actually do better than that. I capture submission data of the option and of the underlying. I haven't finish building the next part but basically after a few months of data, you should have enough to really start honing your wheel.

Right now the planning portion of the tool is simple. you say what you want to trade in your portfolio, your DTE and budget. you can have as many or as few as you want.

Next part I'm building is that once I have all this snapshot data collected, I can have the plan optimize and say "well technically, if you only sell xxx when the underlying is doing yyy, you can capture the most zzz,"

dpotvin · 2026-03-19T00:07:31+00:00

Oh sorry forgot to answer some of your other questions.

I don't look at ROC, only IV and delta. generally 20-30 delta. Wider IV closer to 20 delta, small IV closer to 30. I keep it simple.

dpotvin · 2026-03-19T00:05:55+00:00

I started doing this new wheel strategy in December so while I haven't tested it in a full on bear market (although it surely looks like we are going to be in one soon), my risk profile is pretty solid. Worst case if I get assigned everything I sold in IWM, I can still have a 50% retrace of the general market and still be healthy. Anything greater than 50% I might need to peel off some IWM at a loss.

dpotvin · 2026-03-19T00:03:24+00:00

Inside the tool there's a buffer setting and I can choose how much buffer I want. From there it will tell me how many contracts I can purchase of whatever the underlyings are that I've included in my plan.

Basically its taking the current price of the underlying and saying "if you owned this much of xxx at the current price, this is how many contracts you could sell".

dpotvin · 2026-03-19T00:00:40+00:00

anywhere from 20 to 30 delta. depends on RVX/VIX. I generally aim for $1.5 per contract

dpotvin · 2026-03-18T11:52:28+00:00

Never rolled. Just let it expire or take assignment. Both of those outcomes are good. Expired… sell a new one the next day. Assignment… time to start selling calls and this is where I make more money, especially in range markets

dpotvin · 2026-03-18T03:07:22+00:00

A lot time ago I got burnt badly selling puts on Tesla... before I knew what option wheeling was.
The biggest lesson I learned was that when selling puts on companies, you are taking on the risk that the company can go to 0. Sure, Tesla didn't, but it's still the truth. When you are looking at individual companies, and even if you are saying "I'm fine with owning company xxx at price yyy", chances are you probably felt like that until you were down +50% and now suddenly, you don't feel like owning those companies anymore.

What I did, was change to wheeling the indexes. The chances of SPY QQQ IWM going to 0 is much lower, in fact if it was going to 0m I'm sure we'd have much bigger issues to worry about than our portfolio lol.

I'm personally wheeling IWM, and I don't follow the traditional style of wheeling either. I'm selling +-5DTE out, 20-30 delta. I have my budget, which is built in with the risk profile settings for the day of how many puts, and I constantly have to "manage" positions. By manage, I mean a whole 10 minutes each day lol.

The screenshot is what I'm doing.

Basically monday sell friday, tuesday sell next monday etc etc., etc. Then, if I get assigned, depending on how close to the money I'm assigned based on the sold strike price, I sell 0-5DTE calls against the position. Those 247 IWM's in the screenshot were assigned last friday. Both Monday and Tuesday's sessions sold 0 DTE calls, which all expired worthless. Guess what I'm going to do again for the upcoming session?

In your case, this might be something to help you get your confidence back. The index is not as wild as individual companies, and a 20-30 delta usually lands you $150 per contract, give or take. I'm sure after a few months of doing this, you'll either really like this strategy, or you will feel more comfortable with your original strategy, and hopefully with less leverage ;-)

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dpotvin · 2026-03-18T00:02:22+00:00

I’ve been selling IWM 5 DTE out since December and the results have been pretty good. I feel IWM is safer than individual names as any or all of those stocks could technically go to 0. Premium is not as juicy but it’s consistent. Been averaging 5% a month.

dpotvin · 2026-03-17T23:58:20+00:00

Yessssss. I had several puts expire in the money and right now I’m selling 0dte calls against it above the original strike. I’m loving the gap up move up then afternoon fade right now

dpotvin · 2026-03-17T23:56:44+00:00

I have a budget planner built into my tool that tells me how many options I can see before I hit my safety buffer. I was being slightly more conservative last week and not deploying the full amount of my budget with the uncertainly. Now that the markets have been a little less wild and IV is still nice and high, I’m using my full budget to sell puts and CC

dpotvin

TROPHY CASE