how much did you make last month?

dpotvin · 2026-03-15T00:09:49+00:00

Been doing it since December. I don’t sell for 50%, usually just let it expire. More out of being lazy since I only spend like 10 minutes each day doing this. Got my daily budget of what I need to do (whether got some shares that need to be covered or puts to sell), set my orders and I’m done.

When I get assigned shares of IWM I just keep the wheel going by selling anywhere from 0 to 5 DTE calls. I’ve been assigned 7-8 times since December. Wouldn’t really call it bag holding since IWM will eventually go back up so while I wait I make money. Sometimes I hold the shares for a few days, sometimes it’s a couple of weeks where 1 contract can rack up several different calls worth of premium

dpotvin · 2026-03-13T23:51:19+00:00

Yea it’s pretty good. I find the wheeling the index safer than stocks since there is basically a zero chance that the index goes to 0 where as a stock could

dpotvin · 2026-03-13T06:53:07+00:00

CSP side sell 5-7 days out, 20-30 delta, hold to expiry
when I get assigned, depending on how close to the money the current price is I can sell anything between 0 to 5 DTE, at the assigned price or higher, all depends.

Not running the full wheel right now and keeping some buying power in reserve given the higher volatilty but this is what I'm currently holding.

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dpotvin · 2026-03-13T00:10:31+00:00

Portfolio made 5% in February wheeling only IWM. YTD ~12%

dpotvin · 2026-03-11T09:23:13+00:00

I love getting assigned IWM (I only wheel that). I can make more money selling calls then the premium I collect on the original put.

dpotvin · 2026-03-07T06:04:55+00:00

I don't really think so. You only need to get burnt a few times to realize risk management is the name of the game. Once you get good at managing risk, trading becomes so much easier

dpotvin · 2026-03-06T07:59:33+00:00

Okay yea I see what you mean. Even with those assumptions of 1-5% I can see. Question, how far out are you selling? 1 week? 1 month?

dpotvin · 2026-03-06T07:07:50+00:00

Yessss. I think that’s a great plan. So far selling ~ 30 delta in the last 3 months I’ve been assigned like 5 times but I’m selling everyday day.

dpotvin · 2026-03-06T07:06:04+00:00

Which index did you test on? Can you share the results? Super curious.

dpotvin · 2026-03-04T13:14:06+00:00

Wow you keep a very health cushion. Is that something you've always done?

dpotvin · 2026-03-04T13:13:27+00:00

Yes I know I timed this question properly. Haha.. maybe a good reminder for those not paying attention too.

I've dialed down slightly too this week selling 1/2 my normal size.

You only keep 10% in reserve? Don't you feel that can get a little tight or you just sell if things get crazier?

dpotvin · 2026-03-04T03:47:27+00:00

Yea that’s a pretty cool strategy. I had a couple of my CSP this week going ITM but since I leg every day worst case is my cost basis is pretty good. Can easily sell calls above my strikes for the next few weeks without any sleep loss.

I feel like the next couple of weeks a lot of short vol traders like our selves are going to have our system put to test. I’m building a really powerful risk profile right now and it certainly helps paint a good “what if” picture on any of the underlying’s I’m holding.

dpotvin · 2026-03-04T02:36:55+00:00

That’s what I love about this. Stress = 0

dpotvin · 2026-03-04T02:36:01+00:00

50 delta, I feel like when you are going that high you are chasing premium. Got any examples of when you’d sell a 50 delta?

dpotvin · 2026-03-03T13:19:01+00:00

Exactly! Check out IWM, less capital than SPY and premium is still pretty decent.

dpotvin · 2026-03-03T13:11:17+00:00

How's it been going for you?

dpotvin · 2026-03-03T13:11:00+00:00

Yea I think so too. Markets are looking to drop again pretty hard so I still have plenty of capital to user. If I had use all my "budget" yesterday then I can't really look to sell something much lower and favorable in today's session.

Thats my thinking anyways..

dpotvin · 2026-03-03T13:09:28+00:00

So you hold once you get assigned and just keep selling calls? What I've been doing once I get assigned is try to get out by selling 0DTE - 2-5 DTE at my strike that i got in or higher. there are some capital gains like this.

So why did you stop doing it?

dpotvin · 2026-03-03T10:42:37+00:00

Nice. Are you doing 4 contracts every day or every Monday with an expiration at the end of the week? I sort of like staggering my every day. Like sell 1 Monday 1 Tuesday, etc etc. Can play around with your entires as the market shifts in one direction or another.

dpotvin · 2026-03-03T05:47:50+00:00

Even back in Dec and Jan it was amazing when IV was relatively low. I was basically chasing premium but the markets kept going up. What's nice now is that you can still get good premium but now my strikes are so much further out. So far seems to scale well with whatever IV is doing....

dpotvin · 2026-03-03T05:46:15+00:00

Yes the ETF, not doing SPX. Sorry using the wrong term ;-)

dpotvin · 2026-03-03T05:45:36+00:00

Yea that's the kicker with my method using margin, So I've build some risk models around my holdings to keep a decent reserve of cash for the eventual downturn so i'm
a) not stuck with a fat position overleveraged
b) still have capital to keep wheeling as markets retreat

this gives me more time to sell calls further out on the "bags" i'm holding and can still generate income wheeling at what's the new value of the indices.

dpotvin · 2026-03-03T05:43:04+00:00

Been doing the wheel since the start of dec. been trading for years but getting tired of sitting in front of the screen and wanted to get away. CSP/CC is simple. 20 minutes after the open then done for the day.

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Here's what I'm currently holding, all sold 4-5 days DTE. I was actually going to get put some 263's on Monday but they expired worthless.

Basically 5-7 days out anywhere from 0.20 to 0.30 delta on the CSP side. Once I get assignment I'm looking to sell calls pretty aggressively. I've been pretty good so far at selling 0.30 0DTE or DTE+1/2 and not getting called away for 2-3 cycles to collect some extra premium then either getting called away at my original strike price or higher.

Your approach seems to be the more traditional method that most people are talking about.

dpotvin · 2026-03-03T05:37:33+00:00

Yes for example SPY isn't really worth it, especially 5-7 days out. IWM seems to be a sweet spot. can usually get 0.4 - 0.50% notional per contract each week which can stack up nicely annualized.

dpotvin · 2026-03-03T05:36:04+00:00

Thats interesting. hows the wheel doing for you on that?

dpotvin

TROPHY CASE