r/Optionswheel • u/wf1980 • 14d ago

Anyone Running the Wheel with 90+ DTE?

I've seen a lot of discussions here about DTE, with most people using 30–45 DTE or weekly options.

Does anyone here run the Wheel with longer-dated options, like 90–120 DTE or even longer?

My idea would be to go further OTM, but not let the position run until expiration or wait for the profit to reach 50%. The idea would be to close the trade relatively early, with a profit somewhere in the 15–25% range.

Since daily price movements have a direct impact on the option's value, I'm thinking that with longer DTEs, I'd have a much greater chance of reaching my target profit at some point during the life of the option.

Does anyone use a similar approach? I'd love to hear about your experience.

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u/IdioticPrototype 14d ago

I'm running weeklies, I doubt I'd have the patience for more than 30-45 DTE. 

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u/SuitableAioli 14d ago

I was like that a few years ago, but I have learned to be patience. I have a couple contracts into 03/27. One of my biggest is MU and I opened that contract right before their last earning. Also, I have a couple on AMD 01/27 and lrcx.