Options Wheel ๐ Strategy - OWS+ (How to earn weekly income safely)
One of my favorite options strategy is the Wheel Strategy! ๐ I have been trading the strategy for over a year and have been enjoying good profits โif done in the right wayโ. so here is my version of the wheel strategy, I call it - OWS+ (Options wheel strategy plus) income strategy
My OWS+ Rules - 1) Only do this on fundamentally great companies or ETF you donโt mind holding for long term. 2)Preferably undervalued underlying 3) Risk manage - never over size 4) have the cash to buy at least 1 contract (100 shares) 5) willing to hold long term at least 1 year
My OWS+ Set up - 1) Select the stock/etf and sell a cash secured put option at around 16 Delta with 7 DTE (Days to expiry) 2) if you are not assigned at expiry, you get to keep the premoum and repeat step 1 again. 3) If you are assigned the stock/etf, sell Covered Call back at same assigned strike price with 7 DTE. 4) if you can called away, great! Now restart the wheel strategy! 5) If your CC (Covered calls) expires worthless, repeat step 3 and sell again.
My trade management - for this OWS+ strategy i donโt really do much management as i follow my entry and exit rules. And risk manage on entry.
Risk and Reward - 1) There are always risk when it comes to trading and investing, so please make sure this is a risk you are comfortable taking 2) Never trade or invest with money you need and only do it with money you can spare. 3) You need time. 4) If you are discipline and keep to yours rules and manage your emotions. This can be a great way of earning income.
Since the start of 2023 the market has been in a up trend and this strategy works really well on a uptrend or side ways market.
Hope this will be helpful for some of you and will post a more advance OWS+ in future with some pictures and charts. Just saw this post challenge so didnโt have time to create more detials. ![]()
![]()
Just sharing my strategy for education. Please do your own due diligence before trading! ๐ โ๏ธ
Some of my option positions trading OWS+
loading...
Till next time! Happy trading and investing! ![]()
![]()
![]()
![]()
![]()
Huat Ah!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Over 20 years in the financial industry and a self taught retail trader. Focusing on income and growth strategies! ๐
583Followers
44Following
1653Visitors
Follow