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 

$SPY RATIO_SPREAD_1X2 260424 PUT 615.0/PUT 630.0$ Closing the old front spread that was lower. Only left with 100+ to extract over next 3 weeks. So not worth it 

$SPY RATIO_SPREAD_1X2 260430 PUT 640.0/PUT 626.0$ Shifting front spread up to get more premiums since it is net credit. 

$MARA DIAGONAL 260410/260424 CALL 11.5/CALL 10.5$ Rolling out and down to extract more premiums 

$MARA 20260501 7.5 PUT$ Cash secured put. Not 100% sure if everything is already good. Just dipping toes in to test water

$MARA 20260424 10.0 CALL$ Covered call. 2.5% for about 3 weeks..not too shabby

$MARA CALENDAR 260410/260424 PUT 8.5/PUT 8.5$ 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.

$MARA 20260424 9.5 CALL$ Covered call

$MARA DIAGONAL 260410/260424 CALL 11.5/CALL 10.0$ Rolling down and out 

$MARA DIAGONAL 260424/260410 CALL 10.0/CALL 11.0$ Rolling down and out. Short call at 11 is almost worthless, closing it and opening it at 10 to get more premiums.

$MARA DIAGONAL 260410/260424 CALL 12.5/CALL 10.5$ Rolling out and down. Like what I did earlier, try to squeeze whatever you can 

$SPY RATIO_SPREAD_1X2 260424 PUT 615.0/PUT 630.0$ 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.

$MARA CALENDAR 260424/260402 PUT 8.0/PUT 8.0$ Rolling out and collecting more premiums. Not seeing any positive sentiments in the short term. 

$SPY DIAGONAL 260424/260430 CALL 690.0/CALL 680.0$ Rolling down my covered call for spy to collect more premiums. Quite a shitty market