Loading...The Wheel Option Strategy
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Figure 1: A visual overview of the different stages of The Wheel Strategy – Page 26
Figure 2: The Finviz screening criteria taken on March 14th 2021. . As you can see, using the above criteria we have a selection of 8 stocks which would potentially be good candidates for The Wheel if your account size was less than $5,000. – Page 69
Figure 3: Barchart.com Paid Screener – Page 70
Figure 4: IBM as an example of price plots with the candlestick technique, showing dividend and earnings dates. (Source: TradingView) – Page 74
Figure 5: AT&T price chart with support and resistance zones. (Source: Stockcharts.com) – Page 75
Figure 6: Lennar’s monthly price chart with support and resistance zones. (Source: Yahoo Finance) – Page 77
Figure 7: The monthly chart for AMD with the added support/resistance zones. The up or down arrows indicate when the support or resistance zone has been broken. (Source: TradingView) – Page 79
Figure 8: Hewlett Packard Price Action (source: TradingView) – Page 81
Figure 9: Smith and Wesson Brands Price Action (source: TradingView) – Page 84
Figure 10: Kraft Heinz daily price chart with MACD lines graphed in lower panel. (source: Yahoo Finance) – Page 86
Figure 11: Intel’s price chart with MACD lines graphed in lower panel. (source: Yahoo Finance) – Page 87
Figure 12: WMT’s daily prices plotted with RSI shown in lower panel. (source: Yahoo Finance) – Page 87
Figure 13: Designer Brands Inc Price Action (source: TradingView) – Page 89
Figure 14: Golub Capital Price Action (Source: TradingView)) – Page 91
Figure 15: The correlation between the VIX and the S&P 500 between September 2019 and September 2020 (source: TradingView) – Page 94
Figure 16: An example CSP entry point for Ally Financial (ALLY) with 33 days to expiry. The premium for the 2 strikes OTM 43 put at -0.31 delta fits our criteria of being at least 1% the price of the stock. In this case, the premium is 2.21% ($1.01/45.59). (Source: Tastyworks) – Page 108
Figure 17: The Wheel P&L Tracking Spreadsheet with an example run of The Wheel on AT&T
(You should become accustomed to using the terms, “debits” and “credits”. Simply think of this: Your broker “credits” your account when adding to it. A debit is a subtraction.) – Page 122
DISCLAIMER: The preceeding text is presented for informational purposes only. None of the information herein constitutes an offer to sell or buy any security or investment vehicle, nor does it constitute an investment recommendation of a legal, tax, accounting or investment recommendation by Freeman Publications, its employees or paid contributors. This work is based on SEC filings, current events, interviews, corporate press releases, and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It is your money and your responsibility. There is no magic formula to getting rich, in the financial markets or otherwise. Investing often involves high risks and you can lose a lot of money. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and analysis. Please do not invest with money you cannot afford to lose.
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