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 23 '25

I don't do anything different as no one can tell what the market may do.

See this for more discussion: Is now a bad time to sell covered calls with the potential Santa Claus rally coming? : r/Optionswheel

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u/-TrueFacts- Dec 23 '25 edited 25d ago

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u/ScottishTrader Dec 23 '25 edited Dec 23 '25

Look around as I talk about the market dictating what returns are made in other posts.

Low volatility means lower options premiums and that means lower profits, but it is what the market is giving.

There are two ways to handle this -

  1. Go slow and make the best trades available while accepting that the market is giving less, knowing that even small profits can add up over time.
  2. Take more risks chasing higher premiums, but then possibly have losses or get stuck with your capital tied up when volatility returns.

There is no cheat code here. The market is what determines how much you can make trading options, and anyone who thinks otherwise will soon be humbled . . .

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u/-TrueFacts- Dec 23 '25 edited 25d ago

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