I’ve come far enough to say that the is year this strategy has worked crazily well for me.
The Wheel strategy is an old plain vanilla strategy and that seems to have paid off really well for me all through the year.
The strategy is simple: pick good solid stocks that I would like to own (though lately I have been a bit more aggressive with some speculative growth stocks), sell Puts at strike prices that I would not mind owning them if the stocks are assigned, then sit and wait. If assigned, I own the stocks at a good price, then I begin selling Calls on them until I get assigned.
Rinse and repeat.
This strategy has been made even more successful as I have been doing it on my Saxo Margin Lending account which allows me to execute this less aggressive strategy on margin.
Long may the huatness continue!