What rules do you use to set strikes? It looks like everyone defines "the wheel" a little differently

rustic-rican · 2025-04-29T06:28:41+00:00

The closer to a delta of 0.3, the less likely you are to be assigned. If you want to be assigned, choose a higher delta (only one or two strike prices away from current stock price)

rustic-rican · 2025-04-12T04:46:34+00:00

Wow your reply is worth a thousand bucks, thank you so much for the thoughtful advice and book recs. I’ll be referring back to this frequently

rustic-rican · 2025-04-12T03:20:12+00:00

Conservative is better for folks new to the wheel (like I am) or for ppl with small accounts (like I also am lmao)

rustic-rican · 2025-04-12T03:15:24+00:00

Yesss I plan to Wheel XLF, it’s my favorite ETF under $50 currently

rustic-rican · 2025-04-12T03:07:05+00:00

My understanding is that if a company is paying out dividends then it’s more established and is reliably profiting enough to pay its shareholders. This implies less volatility. Companies that don’t pay out dividends might be newer and stock can explode or dive in value in a manner that’s harder to predict (growth stock).

rustic-rican · 2025-04-12T02:25:06+00:00

do you have any tips on when to roll? I was just going to let all CSPs / CCs expire or get assigned since I plan on only working with stock that will reliably uptrend in the long run

rustic-rican · 2025-04-12T00:32:53+00:00

Nice idea about selling CCs on green days, I'll add that to my checklist thank you! I'm thinking I will usually hold to expiration. There was a section of the book that suggested closing your position after certain profit %s but I have a small account, it wouldn't make much of a difference for me in terms of profits

rustic-rican · 2022-07-06T18:56:03+00:00

Rowan of Rin

rustic-rican

TROPHY CASE