Guides

All guides

Six guides covering the complete wheel strategy — the cycle, the underlying selection, the greeks, the discipline framework, and the operational playbook for handling assignment.

• How to start the wheel strategy — step by step
  A practical step-by-step starter guide for new wheelers. Capital required, picking the underlying, selecting delta and expiration, placing the trade, and a beginner FAQ.
  Beginner · 11 min read
• The wheel strategy, end to end
  The full cycle in one read. Underlying selection, strike selection, expiration choice, capital efficiency, what to do on assignment, and how to handle a gap through the strike.
  Foundational · 18 min read
• The Repeatability Gate
  A five-rule delta-discipline framework. The rules that keep the wheel a systematic strategy instead of a loose collection of premium-collecting trades.
  Framework · 12 min read
• Cash-secured puts
  The entry leg. Strike selection, the greeks, expiration cycles, and opportunity cost on the locked capital.
  Phase 01 · 10 min read
• Covered calls
  The exit leg. Strike selection after assignment, rolling rules, and the call you should never sell.
  Phase 03 · 9 min read
• Theta decay and how to sell it
  The mechanic that makes the wheel work. Time decay curves, expiration cycle choice, and how IV rank shapes expected premium.
  Mechanics · 8 min read
• Managing assignment
  Assignment is a feature, not a bug. Tax treatment, pre-sizing, and when to exit shares immediately versus run the covered-call leg.
  Operational · 7 min read