The Market is Bleeding. Premiums Are Not. Let me share what I've been doing this week. SPY down almost 10% from ATH. VIX spiked past 30. Iran war headlines dropping every day, oil at $107, and the fear is real — I get it, it's been a rough few weeks for a lot of people. But here's the thing. If you've been running a wheel strategy through all this, the premium collection has been quietly doing its job in the background. Higher VIX means fatter premiums. More fear means more people paying up for protection. And all of that flows to the seller. The market is bleeding. The premiums are not. You don't need to call the direction perfectly. You just need a strategy that keeps paying you while you wait for the dust to settle. That's the whole idea behind the wheel — and this kind of environment i
$SPY VERTICAL 260501 PUT 600.0/PUT 595.0$ Bull credit spread. Seeing 630 as intermediate support for spy. And major support at 610. Placing it slightly further away. Coffee money
$MARA 20260501 10.5 CALL$ Covered call. About 2.5% premiums a month. Dont know how the market recovery will be like and cant guess. So keep selling and keep getting premiums first.
$SPY DIAGONAL 260417/260430 PUT 600.0/PUT 610.0$ Rolling up and out. 630 is the short term buy level for most. 610 is the stronger support, so tryint to place it closer to underlying to squeeze more premiums
$MARA CALENDAR 260410/260424 PUT 8.5/PUT 8.5$ Under water at the moment. Already holding quite a lot of shares, Rolling this out and not wanting to be assigned yet. Same time collecting premium.
$SPY RATIO_SPREAD_1X2 260424 PUT 615.0/PUT 630.0$ Front spread opened slightly lower than current spy price. If it remains up, I still collect 464 usd. If it goes down, not too much, I still get to earn as long as it stays above 600
$SPY RATIO_SPREAD_1X2 260410 PUT 625.0/PUT 650.0$ Closing my front spread. Taking some profit and opening a new one lower just in case it grinds lower. Take note front spread is just a ratio spread of selling 2 lower puts and buying 1 higher put. Needs to be manage actively.
$MARA DIAGONAL 260410/260424 CALL 10.5/CALL 10.0$ Rolling this out and down. Squeezing more premiums out of this. Staggering between. 10 - 12 for short calls. Probably need to average it down soon looking at the bearish sentiments.