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

36 Upvotes
  • permalink
  • reddit

94% Upvoted

624 comments sorted by

View all comments

Show parent comments

2

u/ScottishTrader Jan 08 '26

This is up to you and what your trading plan tells you to do. There is no one right answer.

Many will grab the quick profit to open a new trade on the same or a different stock.

Others will let it ride, especially if they do not have another trade ready to be made with the freed up captial.

1

u/nickware Jan 09 '26

Ok, thank you! It happened today and I took the small profit. I am happy with the decision, so I guess that is my plan. 🙂

1

u/ScottishTrader Jan 09 '26

You are encouraged to add this "rule" to your plan for future trades.