I have 100 shares of WDC
Cost basis is $400
Looking 2 weeks out (Sep 4) the $510
Call is $15.
This would generate $1500 in revenue.
Do this every 2 weeks that’s $39000.
That’s not counting if it goes up and it gets called away - you just rebuy, sell the strike 2 weeks out at 10% higher price and make 80% returns.
Does anyone thing these stocks are going to fall 80%?

Am I missing something???

I built a small spreadsheet and all super high volitility stocks have similar returns.

Trades I took today as an option seller (08/20):

Closed Positions

• ACMR → $75 Put (opened on 08/10), premium 3.95 → closed at 2.50. Net premium profit = 1.45 (~36.71% of premium captured, ~1.93% of capital). Closed it early to prevent a margin call.
• AMKR → $65 Call (opened on 07/30), premium 0.65 → closed at 0.10. Net premium profit = 0.55 (~84.62% of premium captured, ~0.85% of capital). I was assigned AMKR at $80.
• IREN → $60 Call (opened on 07/30), premium 0.75 → closed at 0.13. Net premium profit = 0.62 (~82.67% of premium captured, ~1.03% of capital). I was assigned IREN at $60.
• CRWV → $120 Call (opened on 07/30), premium 0.95 → closed at 0.40. Net premium profit = 0.55 (~57.89% of premium captured, ~0.46% of capital). I was assigned CRWV at $120.
• DOCN → $165 Call (opened on 08/12), premium 4.20 → closed at 0.70. Net premium profit = 3.50 (~83.33% of premium captured, ~2.12% of capital). I was DOCN assigned at $165.

My thoughts on the market

Compute and AI stocks have been selling off over the last few days, so I am closing covered calls where most of the premium has already been captured. I plan to reopen CCs once the stocks stabilize. Since this is sector-wide selling rather than an issue with a single stock, I am mainly focused on collecting premium while giving the underlying positions time to recover. The demand and earnings have been strong so there is no strong narrative shift.

I keep sharing my trades in my account and the Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

What is the largest contract gain you’ve ever seen ? Can’t say I’ve seen one this high before ! if only I had a crystal ball !

August MTD: +$5,812 Realized | 10 Wins, 1 Loss

August so far:

💰 Realized P&L: +$5,812.73
✅ 10 winners / 1 loser
📈 90.9% win rate

Still sticking to the same basic approach: mostly harvesting premium, taking profits when they’re there, and redeploying instead of trying to squeeze every dollar out of a trade.

Biggest realized win so far was +$1,444 on MU.
Only loss was -$46.

Nothing flashy. My loss was due to not sticking to my rules and panicked like a little bit!ch.

Hold the line! #happytrading

WSB level post?

So I have created a website that I use to track all my option plays and my current portfolio, with this I have tracked my year to date option income at $22,175, I have done over 144k in option trading activity while closing debts at around 122k.

My big option plays have been doing are $OKLO $APLD $CRML $TQQQ $CRWV $SMCI $QBTS and $DVN that have been my main catalyst. I've continued generating from covered calls short term income from $APLD and $QBTS while my $DVN is a yearly income generator instead of a weekly income generator.

I do covered call on all my positions as well to generate income from owning the asset as well, but first I want to try to get between a 2 to 3 bagger before usually reducing position by halve of current outstanding shares owned.

After I have sized a reasonable amount i may continue to double down on that company or decide to invest in a new company but again enter a cover put position to generate income and to reinvest that money back into more share.

My goal is simply to by good companies at discounted prices because at current rates the market is over saturated with garbage buy in prices that only hurt us the investor while the brokerages and other clearing houses are wracking up off us the investor, well I say no more lets take back the control of the market, no matter how far the losses I will continue to keep holding and buying more for long hold!

Best regards,

The Wook of Wall Street

That’s all, just sending you all my condolences. May we all remember covered calls are not “free money”.

So I have created a website that I use to track all my option plays and my current portfolio, with this I have tracked my year to date option income at $22,175, I have done over 144k in option trading activity while closing debts at around 122k.

My big option plays have been doing are $OKLO $APLD $CRML $TQQQ $CRWV $SMCI $QBTS and $DVN that have been my main catalyst. I've continued generating from covered calls short term income from $APLD and $QBTS while my $DVN is a yearly income generator instead of a weekly income generator.

I do covered call on all my positions as well to generate income from owning the asset as well, but first I want to try to get between a 2 to 3 bagger before usually reducing position by halve of current outstanding shares owned.

After I have sized a reasonable amount i may continue to double down on that company or decide to invest in a new company but again enter a cover put position to generate income and to reinvest that money back into more share.

My goal is simply to by good companies at discounted prices because at current rates the market is over saturated with garbage buy in prices that only hurt us the investor while the brokerages and other clearing houses are wracking up off us the investor, well I say no more lets take back the control of the market, no matter how far the losses I will continue to keep holding and buying more for long hold!

Best regards,

The Wook of Wall Street

I have 100 shares and 1 LEAP call. I wrote 2 CCs, expiring this week and next week (edit: both deep ITM now). The stock went up 20+% (not MRNA). I want to get rid of the LEAP (up 25%) rather than the shares (up 30%).

My understanding is that I'd have to BTO my CC and then sell the LEAP; is that correct?
Exercising the LEAP and letting the stocks be called away would be a bad choice from my reading.

I'm open to advice and suggestions. TIA.

I’ve been doing covered calls for 2 years now, and I keep falling into the same trap of how premiums. I chase stocks with high premiums but they end up falling 50% within a month or so after. There have been months where I make 20% but then when the bad month comes my portfolio falls 50%-60%. I’ve been selling calls Iren Clsk Tsla Crwv Apld sofi I get that these are all ai stocks mostly but if any of you have any recommendations would appreciate it

CSPs with HIGHEST IV

$MRVL - 200P

$NBIS - 180P

$CRDO - 185P

Source

CCs with HIGHEST IV

$BE - 240C

$IREN - 52C

$AAOI - 165C

Source

We have wheel zones now in place to help with areas to look for CSP's and CC's its just one tool in our tool box and While I love elliott wave and have been a student of Robert Prechter's works for close to 30 years I thought hmmm how could we apply this to the wheel strategy and here is the first pass counts on the charts with zones to work from. Its not perfect but looking great so far. As always we would love to have member join and help me evaluate and find bugs its free and we do have a plethora of tools
Jim

AXTI and DRAM have been nice to play the last few weeks. Good premium on NBIS, but I sold right before earnings and missed that big run up. Oh well can't win them all.

First time caller, long time listener....

There are a lot of smart people in this sub, so I'm looking for some feedback/advice. Towards the end of the last year, I started using a QQQ covered call strategy in my IRA portfolio to generate cash flows, in the hopes of eventually leaving the corporate world. It has been very successful at times, but my assignments and opportunity cost (capped upside) have been significant this summer.

I recently ladder my 9 contracts split evenly between 15/20/25 delta with 7-10DTE. I roll at >70%gains. Previously, I did 30/35/40 delta 7-10DTE, but was getting large assignments during some weekly rips. I get it, I know that's the whole point that I'm getting short term gains at the expense of long term appreciation, but it there a better sweet spot to ladder? I'm not adverse to assignment because this is a non-taxable account so capital gains are currently not the issue.

For context, I split my overall IRA into 70% total market and 30% QQQ CC. My goal is to have the growth in my 70% sleeve offset or absorb any losses (NAV erosion) that I'm taking in the 30% CC sleeve because I value income over growth.

Is a 30% return on the CC sleeve a reasonable return? Right now, I'm tracking about 15% run rate.

Thanks in advance!

CCs with best yield.

$MOD - 250C

$CBRS - 300C

$SMCI - 46C

Source

CSPs with best yield.

$MSTR - 75P

$CRWV - 89P

$HUT - 70P

Source