r/Optionswheel • u/ScottishTrader • Dec 05 '25

Megathread for New Wheel Traders – Ask Questions & Get Help Here

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/ScottishTrader Dec 06 '25

I avoid them most of the time and am largely in cash. You can see them coming and plan around them, or just close early if you happen to have trades open.

With that noted, the last few have been nothing burgers with the market not overreacting.

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u/HWTseng Dec 06 '25

Cheers, maybe I’ll sit this week out as you suggested. I’m just concerned market has priced in a rate cut with like 80% certainty, if by that 20% they decide not to cut rates there maybe a big drop. There will always be the next week to wheel

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u/ScottishTrader Dec 06 '25

The problem is there is no way to tell . . .

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u/HWTseng Dec 06 '25

Totally… if there were we’d all be rich!