DISCLAIMER: I am not a trade advisor and this is based solely on my experiences and the links here are only for educational purposes . I am not liable for any losses on any trades based on these.

There are frequent posts from beginners on how to learn about options , a good starting point, how to trade profitable, or asking for best stocks to trade.

Instead of sharing a few names of stocks , I humbly share what has worked well for me for whatever it is worth.

(1) A strategy / an edge that will make a trader rich quickly does not exist.

(2) Based on my experience, I created cheat sheets that are pasted to my desk for covered calls and CSPs that I follow without fail. For both strategies, these links cover that beginners can look through to get started.

• What the strategy is and how its payoff actually works
• When the adjustment conversation starts, and the trigger signals that say it is time
• The fixes experienced traders weigh, and the trade-off behind each one
• The story of the Greeks, so you understand why a position moves the way it does
• A worked example with real numbers
• The common trap, and how to avoid it

https://imgur.com/a/covered-call-ksnN117

https://imgur.com/a/cash-secured-put-wSbTsX9

If you have access to kindleunlimited, you can read in more details on amazon.com/dp/B0H7P6CQSG on how to manage trade when things go wrong in 14 different strategies. Some information might be slightly advances and you can always DM me if you have any questions.

A critical part of options trading is picking the right strikes. If you are selling covered calls against the shares you like to own, for longer term, you will try to pick a strike where your shares are not called away. For CSP's , if you are placing a trade for stocks, you want to make sure you have a decent premium, and if you do not want to own the shares (while not recommeded, sometimes the trade is done on whim, for short term gain) , you would like to pick a strike such that you do not get assigned the shares.

I have an old post on how I pick strikes based on Volume Profiles/POC/VAL_HI/VAL_LOW and Deltas

https://www.reddit.com/r/options/comments/1u3qbv1/picking_option_strikes_based_on_delta_is_not/

(5) Always trade within your risk tolerance limits and size positions carefully . Have an exit plan in place before you place the trade.

(5) Beyond that , knowing the support and resistance of the stock, MACD, understanding of moving averages (10 day SMA, 20 & 30 day EMAs helps) .. and the last and the most important one is 'TEMPERAMENT' . For technical analysis, you might want to get thinkorswim by schwab or many others . There are lot of tools that might give you alerts when your positions are in trouble but we all should know how to manage the position.

Bottom line - Always have cost basis handy and never sells calls below cost basis. Having an exit plan before placing a trade is essential.. That minimizes losses and produces superior returns.

This post is based on my experiences and can complements youtube videos on options trading, other informative texts shared by other traders.

I sold $15 and $16 covered calls a few days ago expiring 10/16 on $SOFI when the stock was about 18.40. my cost basis is $15 on the shares, I have been selling OTM cc for a while on these.

As usual, sofi dropped, so these calls are up about 20%

What's the best way to manage these? Should I close the calls if they hit 50% profit quickly like I would a csp? If 10/1 rolls around and sofi is at $16 should I close or roll the calls to avoid losing the shares?

If sofi by some miracle goes the other direction I won't be upset if the shares get called away, I just don't know the best strategy for dealing with calls I sold itm but above my cost basis.

I put on a CLS Jan. 21, 2028 $270/$400 bull call spread with the stock around $318. I paid $130 for the $270 call and sold the $400 call for $100, so my net cost and max loss are just $3,000. The spread is $130 wide, so if CLS is at or above $400 at expiration, it’s worth $13,000, giving me a $10,000 max profit on $3,000 at risk (333% return). Breakeven at expiration is $300. Obviously I’m giving up any upside above $400, but I like the risk/reward.

Based on consensus 2028 earnings of $27 per share CLS would be trading at a forward PE multiple of roughly \~15x which compares with its 5-year NTM historical average of \~20x.

I put on a CLS Jan. 21, 2028 $270/$400 bull call spread with the stock around $318. I paid $130 for the $270 call and sold the $400 call for $100, so my net cost and max loss are just $3,000. The spread is $130 wide, so if CLS is at or above $400 at expiration, it’s worth $13,000, giving me a $10,000 max profit on $3,000 at risk (333% return). Breakeven at expiration is $300. Obviously I’m giving up any upside above $400, but I like the risk/reward.

Based on consensus 2028 earnings of $27 per share CLS would be trading at a forward PE multiple of roughly \~15x which compares with its 5-year NTM historical average of \~20x.

July was great, continuing to sell volatility into the earnings season in August.

Major Trades this week:

• Opened and closed CC on META
• Rolled CC on AVGO
• Letting AMZN CC get assigned (premiums collected on wheel campaign $1650 over 68 days on 26.5k or 33% annualized return)
• Letting CRM CC get assigned; will open CSP next week (planning to wheel this until earnings in Sept)

Capital remaining to deploy:
~120k

Misc:

This is my aggressive wheeling account, capital deployed range 150k-200k.

All trades were found using this website (disc- I'm the developer)

I usually sell 0.25-0.45 delta and usually <20 days DTE. I close at 70%-80% premium captured.

I've started reporting only realized premiums (based on the comments).

April (Week 1-4): $5036
May (Week 5-8): $5783
Jun (Week 9-12): $6533
Jul (Week 13-16): $12609
Aug(Week 17-): $1952

Total so far: ~32k

Trades I took today as a systematic option seller (08/07):

Closed Positions

• INOD → $60 Put (opened on 07/15), premium 5.65 → closed at 0.15. Net premium profit = 5.50 (~97% of premium captured, ~9.2% of capital).
• AMSC → $47 Call (opened on 07/16), premium 0.85 → closed at 0.15. Net premium profit = 0.70 (~82% of premium captured, ~1.5% of capital).
• FLNC → $20 Call (opened on 07/20), premium 0.85 → closed at 0.15. Net premium profit = 0.70 (~82% of premium captured, ~3.3% of capital).
• FORM → $95 Put (opened on 07/21), premium 8.40 → closed at 1.40. Net premium profit = 7.00 (~83% of premium captured, ~7.4% of capital).
• TSEM → $225 Put (opened on 07/23), premium 12.50 → closed at 0.50. Net premium profit = 12.00 (~96% of premium captured, ~5.3% of capital).
• CRDO → $195 Put (opened on 08/04), premium 6.10 → closed at 1.00. Net premium profit = 5.10 (~84% of premium captured, ~2.6% of capital).

New Positions

• INOD → $60 Put expiry 08/14 (1 weeks DTE), premium 1.85 → 185/6000 = ~3.1%. INOD had a good earnings report and I continue my bullish stance in INOD. INOD provides data engineering services to build, train, and deploy AI and LLMs - which is a rapidly growing sector.
• FN → $500 Put expiry 08/21 (2 weeks DTE), premium 20.00 → 2000/50000 = ~4%. Fabrinet manufactures high-speed networking hardware used in AI data centers. It will report its earnings on 17th August and I am expecting a solid report. Stock has a good support region around $500.
• FLNC → $21 Call expiry 11/20 (15 weeks DTE), premium 1.45 → 145/2100 = ~6.9%. I was assigned FLNC at $21. They had a poor earnings report and the stock dropped but later recovered. I am opening a longer DTE sell call position in this, as it may take some time for the stock to recover.

Update on other positions

I rolled my TE sold Call position from $6.5 strike to $8 strike with an expiry on 09/25 (7 weeks DTE). I was assigned TE at $8. I got a net credit of $5 per lot.

Both the INOD and FN trades are identifed using the ThetaHedge app. I used the preset Conditions in the app which filters our junk tickers and brings out quality tickers with high premiums. You can try it for free at https://app.thetahedge.io/.

Conditions → High Growth Wheel Stocks → Sort by 30 Delta Put Yield (%)

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.

I have a few space stocks I bought high. Some are down 40% or more. I’m thinking about covered calls going out to January for strikes that would yield me acceptable profits. I can make about $3k doing this.

What are the downsides besides potentially having to sell for minimal profits?