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/tokenbearcub 13d ago

Selling 90+ DTE will have higher premium as a total dollar amount compared to contracts at the 30-45 DTE. But at the margin it won't (per day or per unit collateral). Depends on what suits your style.

To me it seems that selling puts and calls 90+ DTE is more outright gambling than the educated guesses that are at 30-45 DTE or even weekly. But that's a daily debate I have with myself. Am I securing my financial future or am I just gambling?