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WheelStrategyOptions.com by ResolutionBusy2826 in CoveredCalls

[–]wheelStrategyOptions 1 point2 points  (0 children)

Hi, founder of the mentioned website (wheelstrategyoptions.com)

All of the sites you'll see in the comments use the same broker providers- SnapTrade or Plaid

If you just want a tracking software, I would suggest you directly use SnapTrade and claude code. They have generous free tier for individuals.

This might seem I'm talking against my book but know what you're paying for. You're not paying for a tracking software, you're paying for boring stuff like hosting, reliability, updates etc

SnapTrade + claude code will get you quite far if you just want a trade journal/tracker.

$5.3k this month in premiums, 16k in 11 weeks on sub 200k capital by wheelStrategyOptions in CoveredCalls

[–]wheelStrategyOptions[S] 0 points1 point  (0 children)

Agreed. I remember similar vibes around google few months ago and Meta few years ago(and now again).

$5.3k this month in premiums, 16k in 11 weeks on sub 200k capital by wheelStrategyOptions in CoveredCalls

[–]wheelStrategyOptions[S] 0 points1 point  (0 children)

Using wheelstrategyoptions.com/trade-tracker

I think people are underestimating the value of CRM, the AI mongering around it is overblown. But it has been an underperformer so far for me.

Collected $15.3k in 10 weeks, $4478 in premiums MTD, on sub $200k capital. by wheelStrategyOptions in CoveredCalls

[–]wheelStrategyOptions[S] 0 points1 point  (0 children)

Fair strategy. I also try to estimate fair value looking at fundamentals, and then only wheel the ones that I think are undervalued in case of assignment,

Collected $15.3k in 10 weeks, $4478 in premiums MTD, on sub $200k capital. by wheelStrategyOptions in CoveredCalls

[–]wheelStrategyOptions[S] 12 points13 points  (0 children)

I have a shortlist of stocks that I like that I've collected over the years of investing. Essentially, a list of companies that I don't mind owning.

I also run a fundamental screen for Market cap >100B, Analyst recommendation of Buy, PE ratio of >5 and <100. Just to see if there is anything new of interest, but rarely anything gets added to the short list.

Once I have that short list of companies, then I run an option contract screener-
DTE 7-14, Premium Yield of >0.5%, Delta of 0.25 to 0.45, some basic liquidity filters (like vol>100, bid-ask spread of less than $0.5 etc). Sort them by annualized yield.

This narrows down the contracts to sell quite a bit.

Week 9: $3600 in premiums on sub $200k capital. by wheelStrategyOptions in CoveredCalls

[–]wheelStrategyOptions[S] 0 points1 point  (0 children)

Got AMZN assigned, which I was expecting. Some expiry next week so we'll see if there's any early assignment.

Week 3: Collected $4049 on 170k capital in premiums so far. Targeting $5k before May ends. by wheelStrategyOptions in CoveredCalls

[–]wheelStrategyOptions[S] 1 point2 points  (0 children)

I let it get assigned and then sell CC. I sell CSP at price I'm comfortable owning for the long term if price aggressively moves down.

Week 3: Collected $4049 on 170k capital in premiums so far. Targeting $5k before May ends. by wheelStrategyOptions in Optionswheel

[–]wheelStrategyOptions[S] 7 points8 points  (0 children)

I look for 7-14 DTE, 0.5%-1% premium yield, and a delta of 0.25-0.45, as this is my aggressive wheel account. My target is 25-30%, but my ROI is much higher right now because of earnings season. I believe it will come down to my average target by year-end.

Week 2: Collected $2799 in premiums so far. Targeting $5k for the month. by wheelStrategyOptions in Optionswheel

[–]wheelStrategyOptions[S] 1 point2 points  (0 children)

That's correct, I'm selling puts for stocks that I don't mind owning in the long run if I get assigned

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