re: Theta gang/ the wheel trades week of 3/15

quote:

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I’ll try this on paper on TOS next week and see what happens.
I’m sure I’ll understand it better once I see the price action and closing decision

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To be honest I feel like I've missed some chances to sell for a big profit. My account swings have been wild but when I got settled out of a trade last week for setting too low of a call strike i was up like 10%.

Something I've also been reading more of is to sell options 45 days out but close your position on the strikes at 50% return on premium. Then you're in less danger of accidently closing or entering a position you don't want since the decay curve accelerates at 45 days to close.