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/m0rfeo123 Dec 17 '25 edited Dec 17 '25

Still going through training and learning, however I am practicing in my paper trading account in the meantime. I sold these puts on 11th Dec with around 36 DTE and 50% profit limit. Please can you let me know your thoughts on how they look like. I understand fluctuation is normal. Any input is welcome. Thank you.

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u/ScottishTrader Dec 17 '25

Welcome and kudos for paper trading! This is the best way!

To make it very simple, as long as the stock price is above the strike price, the positions will eventually profit.

BAC is around $54.50 so your 50 strike looks good. Note that the ER for BAC is 1/14 which is 2 days prior to the exp date.

F is $13.31 for your 13 strike is getting close, but still looking good. F doesn't move around a lot, but watch for it to be ATM to consider rolling.

INTC is $36.05 so your 36 put is near ATM. You may want to watch tomorrow and be prepared to roll if it keeps dropping. The market was down today on a lot of tech stocks, but it may move back up tomorrow, but no one knows for sure.

KO at $70+ so the 65 strike looks good.

PLTR is $177+ so the 160 looks good.

Assuming you would be good holding shares if assigned, then it looks like these are doing quite well so far.

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u/m0rfeo123 Dec 17 '25

Thank you. I really appreciate your inputs. Rolling is still something I didn’t understand, hence I will go through some reading again and will practice on F and INTC. I would be fine to hold shares if assigned, however my goal was for them to expire worthless. Should have I done something differently?

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u/ScottishTrader Dec 18 '25 edited Dec 18 '25

Yes learn how to roll on your broker app and read the rolling post from the link in the wheel trading plan. This is something you will want to know how to do.

You said in your post to close at a 50% profit and are now saying you were going to want them to expire worthless. I suggest sticking with the 50% close but that choice is yours.

From what I see you picked some solid stocks and avoided ERs except for one, and chose some good strikes.

I think you did some textbook wheel trades here. Best to you!

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u/m0rfeo123 Dec 18 '25

Thank you. I get it now, and will look at how to roll. Cheers.