Wheel strategy

Not exactly the wheel strategy but:

XSP, I sell dailies on it but it always settles for cash whether you "win" or lose

It also has preferred tax treatment being taxed 60% LTCG and only 40% STCG

It's a solid $20-$30/day pretty conservatively per contract, but i actively wait for chances there each day. This is day trades that settle later that day. If you wanted to buy a day ahead, you could make a lot more, but lose a lot more as well.

You could do $40ish a day if you got more aggressive but would lose a little more

I've only been on the losing side of these 4 times this year through 112 contracts (1 was a super loser (-$300+), thanks trump, liberation day timing); $2,742 total earnings including the ones that lost for

$24.48 per trade for me

These will all cash secured, so yo uneed just under $70k to do this for 1 contract since the price is $665 right now

I've been double dipping with earning HYSA interest on that cash on top of the option premium i make every day

On robinhood I've been getting 4% all year on my cash, i initiate the trade at some point in the day and it settles at 4-4:30 EST with cash back into my account to get the interest each day

This is just our cash/supercharged savings acct basically. Between the 4% interest and my option premiums it has an annual return closer to 12-14% range, ive missed a number of trading days.