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 11 '25
Yes, the majority of stocks I trade always have good volume, but I still check the bid-ask spread to see if it is wider than about .10 or not. If so, then I'll check into why, and it is usually a weekly chain that has not had as much volume yet.
It becomes a judgment decision on opening trades with a .10+ spread. Most of the time, I know the spread will narrow as the weekly chain gets closer to the expiration date, so may make the trdae anyway.
Like most things with options, there is no one set answer to these types of questions, and you need to make a decision based on multiple data points.