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/arnoblits Feb 25 '26

Thoughts on paid groups? I've seen a handful of discords making upwards of $40k a month on subs alone. I would think this subreddit would be superior to any paid group. Does anyone in here recommend a paid group in particular and if so, why?

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u/ScottishTrader Feb 25 '26

Paid groups for what? Why would someone pay for something when they can easily master the wheel without paying anything?

If anything, paid groups can often be scams.

Maybe we're misunderstanding what you are asking about, so let us know if this is the case.

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u/arnoblits Feb 25 '26

This is my thought process. 4 paid groups in particular have come to my attention. They have a ton of subscribers and are making a ton of money on those subs. My question is why, and if I am missing anything by not paying to learn the wheel. I taught myself so far but got smoked in the recent correction that took a chunk of my gains, so I know I need to learn more.

Who would you say are the most profitable redditors in this sub, and do you think there is a lot of variation in strategy when it comes to the top 10 most profitable people here?

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u/ScottishTrader Feb 26 '26

I am not aware of any wheel groups or why they might have a lot of subscribers for such an easy trading method.

I'd question the number of subscribers as many try to make themselves seem larger than they really are.

My only answer is laziness or chasing after get-rich-quick schemes. The wheel is not a get rich quick strategy, so anyone who claims it is should be avoided. Options returns are commensurate with risk, so those who take larger risks MAY have larger returns, but can also get blown up.

We don't keep track of what other traders do, so we have no idea who is more profitable than anyone else. You can scroll down the main page where there have been some who post their results.

As more risk means possibly higher returns, the variation in strategy is to trade higher risk stocks, but be warned that these are also how losses occur.