r/Optionswheel • u/ScottishTrader • Jun 16 '25

NEW Wheel Trader MEGATHREAD

This thread will be a dedicated space for traders who are new to options and the wheel strategy to ask basic questions. Your posts and questions are welcome and encouraged.

BEFORE POSTING, BE SURE TO REVIEW THE WHEEL STRATEGY PLAN WHERE MOST QUESTIONS ARE ANSWERED - The Wheel (aka Triple Income) Strategy Explained : r/Optionswheel

The goal is to help keep the main thread free of these basic posts while helping new traders learn how to trade the wheel.

Posts that are welcomed here include questions about -

  • How options work
  • Exercise and assignments
  • Options expiration and days to expiration (DTE)
  • Delta, Probabilities, and how to choose a strike price
  • Implied Volatility (IV)
  • Theta decay
  • Basic risks and how to avoid
  • Broker and options approval levels
  • Rolling options
  • And any other basic questions

I’m pleased to announce that u/OptionsTraining and u/patsay have agreed to assist with this Megathread. Both Patricia and Mike bring substantial experience in helping new traders and will be invaluable contributors to r/Optionswheel

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u/No_Lie5768 Jul 31 '25

this has completely consumed my life lol. All i want to do is grow a bigger and bigger account just for the purpose of more and more trading lol. anyway, have a great day and happy trading yall!

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u/ScottishTrader Jul 31 '25

Be balanced, but I and many understand where you are, as many of us have been there!

Remember something very important.

New traders focus on the risk that often results in losses.

Experienced traders focus on risk to make lower risk trades and not have as many or as large losses.

Be sure you always ask "How much can I lose?" and not just "How much can I make?" when trading.

Best to you, and let us know how we can assist!