Daily Trade with SPY 0DTE. Selling Cash Secured Put as new wheel after the past lot of wheel was done. Trying to sell at a slightly further distance to avoid assignment (if possible) as the market is at ATH, in case a sudden pull back.
Holding underlying that are deep in the losing position is not the problem, but how long it stay in this losing position is. Am certain market will always make ATH at some point. Holding a losing position on a wheel strategy makes selling of covered call tricky. There will be times when one need to sell covered call at a strike that's still under the holding value, and when there's a sudden up tick, the CC option can suddenly turns against the whole trade.
While wheel strategy has its down side, it is however still one of the better strategy For those looking to use option to make daily income.
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- Ron Anne·2025-10-12TOPSelling SPY 0DTE puts at ATH? That’s a smart “avoid assignment” move!LikeReport
- Reg Ford·2025-10-11Wheel’s flaws exist, but SPY 0DTE puts beat other daily option plays!1Report
- Norton Rebecca·2025-10-11Sell SPY 0DTE puts far OTM! Avoid assignment at ATH.1Report
- cheeryx·2025-10-10Sounds like a solid approachLikeReport
- KSR·2025-10-10👍LikeReport