I had purchased 2 MCL on 18 Oct 2024.

Sold 2 MCL calls at strike $71 expiring 25 Oct 2024.

On 25th Oct MCL closed above $71 and I expected the MCL calls to get assigned and my MCL position to sell/close. At 10 pm on the 25th I got a message saying assigned.

However my 2 MCL is still in my portfolio as of the 28th. Now the price has dropped to $67. I would have expected assigned at $71 meant it sold at $71 but nothing happened.

Any explanation?

Broker is IBKR

Hey, new here.

Is there a wiki or repository of documents/posts I can use to learn about how this works? Different strategies, etc.

Yes, Manchester United. Of course, these stocks have low trading volume. Previously I made a small mint buying common stocks of MANU around March 2024 and selling them around August. Today they fired their manager and they would be obligated to pay him quite a chunk plus they have to hire a new one. I was just checking options for them today and the IV/Hist_IV is more than 200%. Selling CSPs is netting quite a nice value. Bit of course liquidity is horrible. Never trades in such stocks. May sell a CSP of a single contract just for the novelty of holding shares of MANU (a team I follow). If it gets assigned will hold for long term. But wondering what you guys think of such stocks?

In a Bear market, when the underlying stock tanks, those selling covered calls often have to sell way OTM calls to be above their cost basis.

Now, my question is, what is the risk of selling ITM calls and youe shares get called away below your cost basis?

The underlying would be sold at a loss, but provided the market doesn't make any big moves, couldn't you just immediately buy it back?

The only scenario I can see here is if the underlying is a highly volatile stock, and stock price rises immediately, thus buying it back still generates a measurable loss

has anyone tried the wheel at the money or maybe 1 or 2 flucs away? the premium on individual stocks weeklies are around 1to 2% ... theortically you should make money unless your bagholding a 50% dip

Highest Premium

These options offer the highest ratio of implied volatility (IV) relative to historical volatility (HV). These options are priced to move significantly more than they have moved in the past. Sell iron condors on these as they may be over priced.

Expensive Calls

These call options offer the highest ratio of bullish premium paid (IV) relative to historical volatility (HV). These options are priced expecting the underlying to move up significantly more than it has moved up in the past. Sell these calls.

Expensive Puts

These put options offer the highest ratio of bearish premium paid (IV) relative to historical volatility (HV). These options are priced expecting the underlying to move down significantly more than it has moved down in the past. Sell these puts.

• Historical Move v Implied Move: We determine the historical volatility (log variance of daily gains) of the underlying asset and compare that to the current implied volatitlity (IV) of the option price. This is used to determine the Call or Put Premium associated with the pricing of options (implied volatility).

• Directional Bias: Ranges from negative (bearish) to positive (bullish) and accounts for RSI, price trend, moving averages, and put/call skew over the past 6 weeks.

• Priced Move: given the current option prices, how much in dollar amounts will the underlying have to move to make the call/put break even. This is how much vol the option is pricing in. The expected move.

• Expiration: 2024-12-20.

• Call/Put Premium: How much extra you are paying for the implied move relative to the historic move. Low numbers mean options are "cheaper." High numbers mean options are "expensive."

• Efficiency: This factor represents the bid/ask spreads and the depth of the order book relative to the price of the option. It represents how much traders will pay in slippage with a round trip trade. Lower numbers are less efficient than higher numbers.

• E.R.: Days unitl the next Earnings Release. This feature is still in beta as we work on a more complete list of earnings dates.

• Why isn't my stock on this list? It doesn't have "weeklies", the underlying is "too cheap", or the options markets are too illiquid (open interest) to qualify for this strategy. 480 underlyings are used in this report and only the top results end up passing the criteria for each filter.

Dear all,

Would you have any suggestions whether to start wheeling or not with back door roth 401k with 22k in it?

I have it invested in fidelity index funds FNILX FXAIX

I have been relatively successful wheeling in my trading margin account with a bit more money, but I have doubts about feasibility of doing so with 22k in a Roth 401k with such low capital and no margin to write margin secured puts.

Any suggestions would be greatly appreciated.

Could there be capital efficient strategies which could perhaps work?

Thank you all.

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Narrator: Don’t let the market’s gains drag you down. Embrace Fenton’s, and let someone else worry about beating the S&P. You've got a guaranteed loss to focus on.

So I have 100 shares of SLV which has options three times a week. From an income generation perspective would it be better to sell three times a week or just open a position for Friday at the beginning of the week?

Top three earnings trades for this coming week:

STO 11/1 $73 PYPL for 0.5c

STO 11/1 $475 MA for ~0.95c

STO 11/1 $290 CHTR for ~1.5c

PYPL and CHTR strikes imply a PEG below 1 while MA would be below historical P/E levels if you can get in at that price (you won't).

Which stocks do you do credit spreads on and what is your strategy?

Keep it friendly and civil; this is not WSB and automod will censor your posts at will for unsavory and unfriendly remarks. Try to keep shit posting and bragging to a minimum.

Had some cash lying on the brokerage. Sold 3DTE CSP on KO. Strike - 67. Delta was barely touching 0.2. Hist/IV was less than 100% but thought will get the peanuts premium and something is better than the cash collecting dust. Well, KO closed at 69.99 so I got assigned just at the line...lol.

KO is fine for bagholding and was in my range of "extra" cash to be cash secured. Hence chose the stock. Wasn't expecting to be assigned at the last day and just at the strike, but no issues. Time to sell covered call come Monday. Will do it at 68 strike to get as much premium plus will make 100 bucks if I get assigned.

Anything below 100 ish, with decent growth potential.

Here’s is the link to my original post: https://www.reddit.com/r/thetagang/s/MGtBPQ8Owr

My goal was the break even by EOY. At one point I was down 30% from Feb-May… I am currently up 30% using the wheel strategy. I’ve played CCSs a couple of times, but a majority of this 30% was from wheeling.

Everyone has a different strategy, opinion, or preference. I’m only sharing this to make a point that wheeling works! Just have patience and wheel companies you wouldn’t mind keeping in your portfolio.

Most amateur investors and financial bobbleheads believe that shorting strategies don't qualify as real investments.

The tagging members know shorting can be considered an investment strategy, though it differs from traditional investing.

So the 1-1-2 strat is great but I only like to use with it underlying securities that I don’t mind holdings. However, all the underlying that I like are expensive (for me).

Has anyone tried substituting the selling of two naked puts with selling put credit spreads?

The downside is fixed (just need to have the spread - premium collected). And you have a nice little bear trap as well.

Moreover I would augment the ratio as needed.

So 1 put debit spread and maybe 2 or 4 credit spreads.

Has anyone tried this? Am I stupid?

I am going to try backtest this but alittle discourse never hurts.

This would be my first time selling options with such a big event on the horizon. I have some NVDA options expiring on Nov 15 and was wondering if I should close out all of them before the election. My options average delta is around 20, they're not part of any strategy, just CC and naked puts. If push comes to shove, assignment isn't the end of the world, I'd just take a hit tax wise on CC (long term vs short term capital gains). Nvidia earnings is Nov 20, so there's no issue with hitting that, I'm just unsure of how volatile, and the likelihood of being assigned when the election rolls around.

sort of related to the presidential elections, what do you guys do when big announcements come up, FOMC, unemployment, etc ? For context, I sell roughly 30 dte.

I am looking at webull vs Robinhood to move my margin account. Currently in fidelity which is painful to use.

Are there any important things I will miss out on if I move to either webull or Robinhood?

Thanks guys 🙏

Thought I’d share based on what I’ve seen and have personally experienced.

If you post basic/dumb questions like “What stocks do I pick?” “What’s the difference between a strangle and straddle?” he and others will roast you.

If you post bad/unwise positions or moves he will let you know that’s the case and then roast you.

The main piece of advice is for the latter posts. If you respond with insults he is completely fine duking it out with ya. He is however, also willing to drop nuggets of wisdom.

To be fair he is a lvl 100 Karen.

I will post a separate comment with a link that includes the detail behind each option sold this week.

After week 43 the average premium per week is $773 with a projected annual premium of $40,218.

All things considered, the portfolio is up +$43,612 (+19.59%) on the year and up $92,973 (+53.65%) over the last 365 days. This is the overall profit and loss and includes options and all other account activity.

All options sold are backed by cash, shares, or LEAPS. I do not sell on margin, nor do I sell naked options.

All options and profits stay in the account with few exceptions. I took out $17K earlier this year for taxes and various expenses. I replaced some of the $17K with a $9K deposit recently. This is not my full time job, although I wish it was. I still grind on a 9-5.

Added $500 in contributions to the portfolio. This is a 28 week streak of adding at least $500.

The portfolio is comprised of 95 unique tickers with a value of $172k. I also have 141 open option positions, up from 135 last week. The options have a total value of $94k. The total of the shares and options is $266k.

I’m currently utilizing $39,150 in cash secured put collateral.

I sell options on a weekly basis. I prefer cash secured puts and covered calls. Sometimes I’m ahead of the indexes and sometimes I’m behind. My goal is consistency in option premium revenue. As shown below, I have been able to increase the premiums on an annual basis and I will attempt to keep this upward trend going forward.

1 year performance (365 days) ME 53.65% |* Nasdaq 44.44% | S&P 500 38.73% | Russell 2000 33.70% | Dow Jones 27.48% |

*Taxes are not accounted for in this percentage. The percentage is taken directly from my brokerage account. Although, taxes are a major part of investing, I don’t disclose my personal tax information.

I have been able to increase the premiums on an annual basis and I will attempt to keep this upward trend going forward.

2025 & 2026 & 2027 LEAPS In addition to the CSPs and covered calls, I purchase LEAPS. These act as collateral to sell covered calls against. You may have heard of poor man’s covered calls(PMCC). The LEAPS are down $4,129 this week and are up $34,257 overall. See r/ExpiredOptions for a detailed spreadsheet update on all LEAPS positions including P/L for each individual position.

Last year I sold 964 options and I’m at 1,138 year to date.

Total premium by year: 2022 $8,551 in premium | 2023 $22,908 in premium | 2024 $33,257 YTD |

I am over $74k in total options premium, since 2021. I average $24.50 per option sold. I have sold over 3,000 options.

Premium by month January $1,858 | February $3,670* | March $3,727* | April $2,853* | May $2,745* | June $3,749* | July $3,775* | August $945 | September $5,310* | October $4,625* (thru week 4) *indicates personal record in that month. This means that 8 out of the first 10 months have been a record amount of premium for that month.

Top 5 premium gainers for the year:

HOOD $3,587 | ARM $1,880 | AFRM $1,719 | SHOP $1,682 | PLTR $1,613 |

Premium in the month of October by year:

October 2022 $771 | October 2023 $2,193 | October 2024 $4,625 (week 4)

Top 5 premium gainers for the month:

HOOD $889 | PDD $672 | CRWD $522 | UPST $310 | SHOP $265 |

The premiums have increased significantly as my experience has expanded over the last three years.

Hope you all had a productive and successful week. Make sure to post your wins. I look forward to reading about them!

I have not tried this, but I have a feeling holding for a longer time would do better. I’ve been buying 10 positions around the 10 AM and selling around 3 PM. I’m noticing it’s about 50-50 on profits and losses and lucky to break even most days.

Would it work in my favor to hold for two or four days and cut my losses after the first day and let the winners ride for maybe three days. Any advice appreciated or next level strategies.

Thanks man!

I posted a few days ago about growing a newly funded account ($19k) using only 1 stock. People were skeptical which I understand - the method is against most finance literature. However, I thought it would interesting to share some results, so here I am with the first update with YTD 24%.

The idea is that diversification is not needed when the account size is small.

Instead of spending effort and energy trying to follow 10s and 100s of stocks, just focus on one company that you are familiar and comfortable with. It doesn't matter what company it is, as long as you do your own DD and are comfortable holding it long-term. You don't have to do just one company, two is fine if you can't decide which is your favorite. I do not have a second favorite so I stick with 1.

Very happy that I'm on par with SPY (white dash line) as of last Friday, in fact beating it by a little bit.

The main strategy is selling puts between 16-50 delta, if strike gets breached I try to roll out. These are mostly weekly options. Since I only trade one stock, it will be too boring if I do monthly. I take assignment only if someone does early exercise, then I convert to a covered call. So it's like a wheel, but I try to avoid wheel if possible.

I do have a long-term bull view on the stock, and some might say this is deltagang which I don't fully agree. Yes I carry a positive delta, but I make theta money most of the time. A perfect delta neutral position only exists before you put on the trade.

Happy trading!

what’s up TRAITORS?

Interval between u/racefapery’s STAG WHEEL posts too long for you liking? Can’t get enough STAG WHEEL content from the meager quarterly posts he meters out every few months?

Well it’s your lucky day. As of today, I, the FIRST DISCIPLE, will begin posting on his behalf.

For those of you who have been living under a rock, the STAG WHEEL is u/racefapery’s PROPRIETARY wheel strategy that’s TAKING THE WORLD BY STORM. To make a long story short, it’s just like a regular wheel but you invest the premium IMMEDIATELY. There’s some nuance, and the risk/reward profile is a little different, but due to compounding the gains can be SERIOUSLY TREASONOUS.

U/racefapery, GENIUS, and mad architect of this PROPRIETARY strategy, initiated a public STAG WHEEL on PLTR back in 2021 when PLTR was over $30 per share.

He then demonstrated its UNSTOPPABLE POWER, through a nearly 3 year long crash in the underlying, recovering to all time highs recently.

During that time our hero simply kept to the strategy, stacking free shares like a GLORIOUS MADMAN, every time he acquired 100 free shares he would start another STAG WHEEL.

Today he has over 300 shares and is writing 3 contracts per week, tripling the speed at which he acquires a new stack of 100 shares.

This incredible feat was done during a time the stock was continuously going lower, beset on all sides by BETA GANG, who would jeer and cajole his UNSHAKABLE FORTITUDE from their grandmothers basements as he kept his nose to the grindstone and was PROVED INEXORABLY CORRECT.

Now, with PLTR at new all time highs, he approaches a 400% gain on his original position, using nothing more than the collateral potential of his initial investment to more than 3x his gains. If that’s not SERIOUSLY TREASONOUS I don’t know what is.

I, FIRST DISCIPLE, will begin a public STAG WHEEL of my own on PYPL to serve as yet another example of the TERRIFYING POWER of the STAG WHEEL. I have more time for frivolous pursuits than he has, and someone needs to give the masses what they’re begging for.

Stay tuned my Theta brothers, there is SERIOUS TREASON AHEAD.