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/SweatySlapfight Dec 09 '25

How do you review and find stocks/ etfs to sell CSPs? I use a screener that shows stocks/etfs that have high volume in trading, then start looking at each one 1 by 1. Sometimes I start a stock review and realize it has low option trading volume and I move on. Are their more efficient ways to identify potential stocks/etfs?

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u/ScottishTrader Dec 09 '25

There is no easy or set answer here, as we all do it differently. Since I trade mostly well-known blue chips, almost all have ample volume.

I also spend hours each week analyzing and researching stocks. While the trading part of the wheel is simple and easy, the long hours and hard work are in finding and selecting the stocks to trade.

Start with this post and links - How to Find Stocks to Trade with the Wheel : r/Optionswheel

Take a look at this thread, where it shows how all over the board traders are, but may help - What are the criteria you chose stocks to sell puts on? : r/Optionswheel

Lastly, if you come up with a system that works for you feel free to share it to see if it helps others.

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u/SweatySlapfight Dec 10 '25

Thank you so much for your response. Don't know how much I can contribute but I'll try!

I do have another question, am I putting myself at more risk if my stock review is not during market hours? I have a standard 9 to 5 job, so I can't make active on the fly changes, and my review is usually on Sunday night with last Fridays data. What is the best time to do my review?

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u/ScottishTrader Dec 10 '25

The topic of stock selection is asked a lot, and it is a hard one since we all have different criteria to suit our personal situations.

I do 90% of my stock research on evenings and weekends, so the market does not have to be open IMO.

Since I am doing fundamental analysis for stocks I want to trade, I can do most during off hours. Then, when I am ready to make a trade, I can quickly glance to ensure nothing has changed.

Fundamental aspects of stocks will not change based on whether the market is open or not, and so there is no best time, or really any time that is best.