I'm looking for mostly steady gains with the wheel and I have a pretty good risk tolerance. (Wheeling Sofi). Going to eventually start wheeling ford. Should I sell ATM or OTM 70% on the cash secured puts?
I don’t Wheel as a strategy but will flip the random assigned short put to a ccall, and do maintain 200 shares in the SOFI position. Currently, SOFI premiums are crap. If starting anew, I’d near-ATM the short put at 7 and ccalls at 7.5 in the 30-45dte.
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20 Delta is the magic number.
I don’t Wheel as a strategy but will flip the random assigned short put to a ccall, and do maintain 200 shares in the SOFI position. Currently, SOFI premiums are crap. If starting anew, I’d near-ATM the short put at 7 and ccalls at 7.5 in the 30-45dte.