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Trading

The Wheel Options Trading Strategy

Introduction to the Wheel Options Trading Strategy

More to come here later. Getting this post up so I can put links to the Wheel Options Trading Strategy tracker itself as requested by r/ThetaGang as well as the ThinkOrSwim reference.

I put together a YouTube video going over this tracker and how it works – https://youtu.be/aSnyv3jbtuA. Watch the video then come back here to download the tracker itself (download link at the bottom of the post).

This image shows a screenshot of my Excel-based wheel option trading strategy tracker
My Excel based ThetaGang tracking spreadsheet

In short, this trading strategy to to sell cash secured puts on tickers you wouldn’t mind owning. As theta (time) goes on, the options price decreases (with everything else held constant) so you can buy back the put at a lower price. This is a neutral to bullish options strategy. It should not be used if you are bearish on a ticker.

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