A Comprehensive Guide to Options Trading
The Complete Strategy Manual
The Foundations of the Wheel
Explains what the wheel strategy is, its core components (cash-secured puts and covered calls), and the fundamental goal of generating consistent income.
Covers the necessary options trading fundamentals, such as puts, calls, strike prices, expiration dates, premiums, and the concept of time decay.
Provides a detailed, visual walkthrough of the entire wheel cycle, from selling the first cash-secured put to getting assigned and selling covered calls.
Building Your Wheel: Stock Selection and Setup
Details how to select suitable underlying assets, focusing on fundamentally strong companies, ETFs, or even commodities and crypto, that you would be comfortable owning long-term.
Explores important metrics like liquidity, volatility, and implied volatility (IV) and how they influence the premiums collected and risk.
Provides a practical, step-by-step checklist to guide beginners through their initial trades, including capital requirements and position sizing.
Mastering the Mechanics
Deep dives into selling puts, including choosing the right strike price (delta) and expiration date (e.g., 30–45 DTE) to maximize premium and manage risk.
Explains how to sell covered calls after assignment, including strategies for optimizing strike price and expiration date to generate additional income.
Covers advanced tactics for adjusting positions when a trade moves against you, such as rolling options and managing a stock that has fallen significantly.
Strategic Expansion and Optimization
Discusses how to scale your wheel strategy, manage multiple positions, and use the income generated to compound returns.
Puts the wheel into context by comparing it to other income strategies, such as the covered strangle, to highlight its strengths and limitations.
Explores more sophisticated approaches, such as using weekly options for higher premium collection or incorporating other strategies for further diversification.
Long-Term Growth and Mindset
Focuses on developing the right mindset for options trading, emphasizing patience, discipline, and managing the psychological aspects of the strategy.
Discusses the role of the wheel in a broader long-term investment plan, balancing income generation with capital appreciation.
Includes real-world case studies to illustrate the wheel strategy in different market conditions and with different types of underlying assets.
© 2025 Wheel Strategy Bootcamp. All Rights Reserved.