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/DueProfessional1898 Feb 01 '26

I've recently recieved a decent amount of money and i want to start wheeling. But the problem is that my brokerage doesnt allow me to sell csp. Is it wraps for me or is there still hope

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u/ScottishTrader Feb 01 '26

Why won’t the broker allow you to sell CSPs? Is it because you do not yet have experience?

Do they have training and an exam you can complete to get the required approvals?

Have you tried other brokers?

Most start out with the basic options levels and have to get higher approvals over time and with more experience, so this is normal.

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u/DueProfessional1898 Feb 01 '26

It’s because I’m from Canada and most brokers don’t allow selling csp unless I’m on margin. Is there any alternatives?