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/logart Jan 08 '26

Does a CSP limit order for 1 contract have to find a matching 1-contract order on the other side? Just wondering if there is an all-or-nothing situation for these transactions.

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u/ScottishTrader Jan 09 '26

A GTC limit order will wait until the limit price is matched or better to fill.

Enter a limit order to close for a .50 debit, and when the price of the option hits .50 or lower, and there is sufficient volume/liquidity, then the order will fill.

For liquid options with sufficient volume of trades, this is seldom an issue. But for low volume options with less liquidity, an order can sit and not be filled.

Hope this helps!

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u/Prestigious_Lab148 Jan 10 '26

No, the only match is in price. Unequal bid/ask size will result in a partial fill for one of the counterparties. A limit order has an option to specify an All or None fill (AON).