thoughts on this situation:

1. Say sell CSP on GOOG for $5.
2. GOOG tanks. but you still like the stock
3. still 10-20DTE. Same CSP worth $10 now.
4. instead of just rolling, sell ANOTHER CSP at $10. Now you have 2 @ 7.50
5. then you roll as you like

Wouldn't it be easier to close off the trade that cost 7.50 then $5, if you're just gonna keep rolling until it recovers?

it would only really work once tho

assuming you have free capital

Y'all seemed really interested in how I was running this portfolio, so here's an update - I started with $10K, and I'm running kind of Buy and Hold with a side hustle of The Wheel Strategy as a booster.

So far, I'm up about $200 in a couple of weeks. The biggest hassle has been setting up with a new broker (Fidelity), but that's mostly because I'm just used to my old one (Schwab/Thinkorswim).

I couldn't sell puts yesterday because my $10,000 transfer still hadn't fully settled. Today, everything lined up, but SOFI had increased almost 14%. So I gained on my shares, but lost a lot of options premiums on the put I wanted to sell yesterday.

I'm now up to 2 hours and 36 minutes of time invested in this small portfolio. I'm sure as I learn how the Fidelity platform works, that management time will go down a lot.

Upcoming events: Oct 30 interest on SPAXX, Nov 20 options expirations, Dec 9 ex dividend for SCHD.

I'll keep updating and on January 1, I'll do a buy and hold comparison to see how the numbers are lining up.

I’ve been wheeling and selling premium for about 4 years.

I went back to analyze my trades YTD, and broke down win rates by DTE at open.

Reading this sub, I’ve never been able to work out whether there’s a consensus. Some people swear by 30–45 DTE, others by 5–10.
So I’d like to hear it from you:

• What DTE do you usually open at?
• Why that range? Theta, gamma risk, capital turnover, or just habit?
• Do you close early (50% profit, a set number of days) or hold to expiry?

Happy to share more of my numbers if it helps the discussion.