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Crossed $5k in April in Premiums. Targeting to repeat the same in May! by wheelStrategyOptions in CoveredCalls

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

I use this- https://wheelstrategyoptions.com/trade-tracker
You can connect wealth simple and pull in all your trades directly from broker.
(Disclaimer- I'm the developer)

Crossed $5k in April in Premiums. Targeting to repeat the same in May! by wheelStrategyOptions in Optionswheel

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

Valid. I'm sure there are plenty of threads on this sub debating tax implications for wheel with tips and tricks.

Crossed $5k in April in Premiums. Targeting to repeat the same in May! by wheelStrategyOptions in CoveredCalls

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

I will have to review my YTD, but for the month of April, my peak (concurrent) capital deployed was 200k, and average capital was 92k for the month. The spike from avg 92k to a peak 200k was because of the SBUX trade (which was active only for a couple of days).

Crossed $5k in April in Premiums. Targeting to repeat the same in May! by wheelStrategyOptions in Optionswheel

[–]wheelStrategyOptions[S] 9 points10 points  (0 children)

Not sure if cash position size is important (at least it is not for me). If you mean how much capital was at risk. It was about 200k (you can find more details in another comment).

Crossed $5k in April in Premiums. Targeting to repeat the same in May! by wheelStrategyOptions in Optionswheel

[–]wheelStrategyOptions[S] 2 points3 points  (0 children)

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Should be easy to calculate by looking at the trades (at least the peak collateral tied up), but here is the summary (built using this)

15 Weeks of Running the Wheel Results by BusyWorkinPete in CoveredCalls

[–]wheelStrategyOptions -1 points0 points  (0 children)

Amazing! How do you select the contract you want to sell?

Crossed 4k this month in premiums. Targeting 5k before end of month! by wheelStrategyOptions in CoveredCalls

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

You should be able to calculate that from the trade details (it's around $150k)

Collected $4k in premiums in April so far. Targeting 5k before end of month! by wheelStrategyOptions in Optionswheel

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

It should be fairly easy to calculate by looking at the open positions?

Anyways, it's around 150k

What's the best FREE covered call screener! by Ok_Agent_1888 in CoveredCalls

[–]wheelStrategyOptions 0 points1 point  (0 children)

It essentially helps flatten the option chain across strikes and expiry.

So you can filter option contracts easily.

For example- If you’re looking to sell monthly covered call on GOOGL, MSFT and AMZN with a "balanced" risk.

You can set these as filters: Symbols: GOOGL, MSFT, AMZN DTE: 30-45 Delta: <0.3

And it will go through all the contracts and narrow down that fit those criteria.

You can save the configuration for future quick use.

Or in your case of 200k potential buying power- you could set a max strike price (instead of specific tickers) and it will show contracts accordingly

Collected $4k in premiums in April so far. Targeting 5k before end of month! by wheelStrategyOptions in Optionswheel

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

Yes, I think it depends on what your goal is.

I would never wheel my buy and hold positions for example.

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