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The Wheel Strategy on Options


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The Wheel Strategy on Options
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   #31 (permalink)
 PK007 
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   #32 (permalink)
 PK007 
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Will show the unrealized loss in the last month, therefore in Feb.

MES is up since the previous post so the loss is now less at -$785.

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   #33 (permalink)
 PK007 
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   #34 (permalink)
 PK007 
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Was travelling the last couple of weeks so fell behind on the updates.

Made a mistake and sold the wrong call on the 24th of Feb. Should have been one week later but instead sold only 4 days out. That meant I was assigned at 4320 and the long futures contract was closed. Not sure it would have made much a difference now since MES is falling again.



With the increased volatility, managed to get a good credit 1 SD out.


So far, the 2 main drawbacks of this strategy are

- the increased risk in trading futures and
- not being able to sell calls for a decent credit, far enough from the current price. If price does go higher, you get assigned at a price below the cost price of the trade

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 SMCJB 
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PK007 View Post
Made a mistake and sold the wrong call on the 24th of Feb. Should have been one week later but instead sold only 4 days out. That meant I was assigned at 4320 and the long futures contract was closed. Not sure it would have made much a difference now since MES is falling again.

If you hadn't had that long position called away wouldn't you now be down 100 points on the future?

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   #36 (permalink)
 PK007 
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SMCJB View Post
If you hadn't had that long position called away wouldn't you now be down 100 points on the future?

Yes. Just wanted to point it out as a mistake since it wasn't strictly according to the rules of the strategy I set for myself in the first post.

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 SMCJB 
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 PK007 
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SMCJB View Post

Hahaha....Exactly!

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 PK007 
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 PK007 
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