Generating monthly cash flow by selling options on quality stocks. No day trading, no speculation, just probability-based income generation.
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The wheel strategy is a systematic approach to generating income from options. It's not about timing the market or picking winners—it's about collecting premium while positioning yourself to own quality stocks at a discount.
Sell puts on stocks you'd own anyway. You keep the premium whether or not you get assigned. If the stock drops below your strike, you buy shares at a discount.
When assigned, you own shares at your chosen strike price (below market when you sold the put). You've already collected premium, so your cost basis is even lower.
Sell calls against your shares for additional income. If called away, you sell at profit. If not, keep the premium and repeat. Either outcome is profitable.
Repeat the cycle
Rule-based, not emotional. Clear entry and exit criteria eliminate decision fatigue and behavioral mistakes.
Premium collection every week or month. Consistent cash flow regardless of market direction.
Pre-defined position sizing and margin limits. No surprises, no margin calls, no blowing up accounts.
Works with Interactive Brokers (IBKR). Manageable tax implications for Irish/EU investors.
Generate returns while holding quality stocks. Premium collection on top of potential appreciation.
No day trading required. Weekly management, monthly adjustments. Perfect for builders with other priorities.
As an Irish/European investor, I've structured this strategy to work within our regulatory and tax environment:
Interactive Brokers (IBKR) is the go-to for European options traders. Low commissions, solid platform, portfolio margin available.
Irish/EU tax implications require careful tracking. Premium timing, withholding taxes, and currency conversion all factor into returns.
EUR/USD exposure is real. I track returns in both currencies and manage FX risk as part of the overall strategy.
The wheel works outside US market hours. Position management doesn't require being awake at 2:30 PM GMT for market open.
I track performance weekly but report quarterly in my premium newsletter. Targeting consistent monthly returns with strict risk controls.
Premium subscribers get detailed position analysis, entry/exit rationale, risk management insights, and quarterly performance reviews.
Subscribe to Premium NewsletterMonthly wheel updates • Risk management frameworks • Position analysis
Calculate safe position sizes for wheel strategy and options trading.
Calculate Position Size →Calculate profitability thresholds for positions and business decisions.
Calculate Break-Even →Disclaimer: This is educational content, not financial advice. Options trading involves substantial risk and is not suitable for all investors. Past performance does not guarantee future results. I am not a financial advisor—consult with qualified professionals before making investment decisions.