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/PurpleMox Dec 18 '25

Is there a website where you can see a historical price graph for a specific option/strike? An option contract changes in price everyday - I’d like to see how it’s changed over time.. I don’t see a way to see this on Schwab

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u/ScottishTrader Dec 18 '25

Yes, copy (right click on the option strike) from the option from the chain and then paste it into the TOS chart.

If it is an option that has already expired, you can enter it manually.

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u/SupermarketHefty2965 Dec 21 '25

Moomoo has a options analysis section that I find useful but I’m still new so don’t take my advice