Isnt wheeling essentially just free money all the time??

I fail to see the downside to it. When the stock falls, and you still make money from CSPs then again make even more money when the stock rises. And when it rises, you also make even MORE money from the CCs.

Do this for a stable large cap stock and you never have to worry if the stock drops anyway.

Of course I know the main downside is if the stock rises extremely drastically and never returns down, but this seems completely impossible and has never happened to any stock in history before. Any meteoric rise will eventually be followed by a sharp correction sooner or later. We've seen stocks like AST and NVDA always get corrected within just weeks of their gigantic rise.

So compared to a bagholder, by wheeling you can just keep making money weekly without care in the world of the stock's movement, right?