You MUST Learn This Skill If You Want To Trade The Wheel Strategy

Got your book ordered. The wheel strategy. Love all of your videos! Very informative. Clean, precise, to the point. Thanks

Nice

Thank you

Did you exit out before the huge dip?

What's the account size you would recommend?

I got burnt one to many times by Tesla, google for the win.

I like the roll up and out aspect. But I like to keep things simple. If I am assigned at the strike I chose, so be it. As long as my basis is met and surpassed, I am a happy camper. Over 10,000 stocks to make money with. My K.I.S.S. philosophy is = KEEP IT SIMPLE SIR lol. The old saying in the market..."You will never go broke taking a profit." By the way, your content is very good and you engage well with the audience.

Thanks for the shout out! Don't forget if you're in Cleveland I got your first beer!

You should have let that last goog call get assigned. it was already too much ITM. Move on and use the $9,500 with something that will yield something higher than 0.1%. Keep up the good work

What are the criterion to select stocks for wheel strategy? should it be weekly/biweekly or 4 weeks expiration?

Question - if one has, let's say 1,000 shares of a stock (enough for 10 contracts), do you keep them all together or is there any benefit to having 2 groups of 5 contracts maybe at different rotations of the wheel? I use my premiums to buy more stock, so when I get to another 100, I start that contract with a covered call while my other contracts of the same underlying might be in the CSP phase.

bought the book! thanks

am still new and still lost but the channel brings hope that if i put more work, one day i will be rolling that wheel too

Great video Brad. Just curious why people don't talk about trying to get your cost basis to zero on a stock, then the strategy becomes a gold mine?

Fantastic explanation of rolling. Cheers

that's true...esp when you have big amount of money.....

But when you roll out your realized P&L is negative because of the position you closed, so if Goog goes down a little and you close that new call you will be still losing money because you had to pay huge money to roll it out the first time, the only way to not lose money is to allow that call to expire wothless , and this would take a lot of time most of cases when you roll out deep in the money.

… why would you do the wheel at this low prices in january? The upside holding the right stocks was too high against selling calls. Im Up 90% YTD without options and after a big crash last year, now im doing the wheel strat since prices are up again

Honestly it's because of you that I've started even considering the wheel strategy as a source of income and something that can help with early retirement and be financially independent.

Do you buy the google A or C class shares?

It hurts to not have known all this wheel business from the get go.
I specifically avoided learning about it because I was so thrilled with trading options - so stupid
Stronger for it all, though, let’s f’ing get this money

Thank you for breaking down the spreadsheet, I started sweating as you went through it

People getting mad at RH over the GME debacle is laughable.
They aren’t mad at any other platform that halted trading?
They don’t blame themselves for hunting whales in a dinghy?
Just yikes

Bro thank you for this video

Can you explain the Basis/Coll column? Or is there another video explaining the spreadsheet you have here?

Hey brad, can you share this spreadsheet to where I could input my own trades? Thank you!

When you get assigned, how do you enter the value of the stock? Do you enter it into your basis column? Does a cash backed put get entered as a negative number? Nice presentation. Thanks, John

I ordered the book and it will arrive on Monday. I hope there's some stuff about rolling in there as well. I'd like to learn more about that. Even though I haven't started trading options yet. But soon I will jump on the Wheel...

TO ROLL do u have to put more time out ther or could it be the same time ??

just found your channel while trying to figure out how to get myself straightened from a rookie move with amazon. this video helped me a big time, thanks! Definitely picking up your book

Hi Brad, been following for a while, but lately been very interested in the wheel and I've been listening to what you've been saying a lot lately. I understand why you roll, and obviously it's profiting you well. If you had sold a cash secured put for GOOGL at $85 (pretend numbers) and sold covered calls for $90 on a weekly/monthly basis, aren't you still profting heavily from premium from the covered call and $500 from option difference? What I'm trying to say is, it seems like rolling is maximizing your overall profit, but even if you were to take on a more lax approach, you'd still be in good hands, right?

Great video, have hit the like... noticed however, your total collateral is higher than your account balance... how is this possible? How far can we push this?

Can I get a download of your spreadsheet thru patreon? I myself trade the wheel and have a spreadsheet myself, however I notice that other traders also have differently nuanced one, which definitely has value to them...

That's some amount of work for 3 percent

Serious question… why would you shoot for 2-3% a month when you could just put your money in a High Yield Savings Account at 4%?

Thanks for the vid! Why play options on INTC? The premiums looked pretty bad looking out a few months, but maybe I’m missing something? Not sure it has legs to roll??

The wheel strategy made me an annualized return of 228% in 2 months only. 💵💵💵

How do I get a copy of your excel spreadsheet?

I've been trying to find out the tax implications on the premiums. If you buy an option and sell an option with a credit, do you pay taxes on the full sell premium that you receive or is it just credit difference? I wasn't sure if buy premiums offset sell premiums like stock losses can offset gains.

I've only watched a few of your videos at this point ,so you may have covered this point in another video. My first impression from this video is that there is no mention of Delta in any of your trades, and there is no mention of using charting and technical analysis to get a better idea of where a stock is headed. This seems to me to be a major cause of the chaos (my opinion) in your wheel strategy. What are your parameters for picking a stock price or deciding when to roll a call?

Good info

Why would you sell a covered call at the same strike price if u know google is a growth stock ? Isn’t selling calls at above 92 the point of the wheel so you can get triple income or am I wrong ?

Any Canadians in the discord? Considering joining.

At what portfolio value do you think you could live solely off the wheel strategy aka retire from w-2 job

I purchased the kindle version of your book and will study it. I am 62 years old and just started trading the wheel this last Spring. I’ve kind of found it difficult to find stocks or ETF’s that require small amounts of cash reserves to trade cash secured puts. The closest one I’ve found so far is NÉE, but haven’t traded it yet. I’ve done XOM and have a couple of open options on TQQQ, which I don’t feel comfortable with at the moment. I’ve worked on ETRM systems since 1997 and have a fairly good understanding of trading commodities, futures and stocks.

Do you ever see a reason to run the wheel on a commodity like Silver?

I like RH too.

Seems like the tax accounting for this would be a nightmare. I am talking about the GOOG rolls.
Can you give us an example for how to do that?