Wheel 101 · Part 1
What is the wheel strategy?
Welcome! This is the free starter lesson. No experience needed. If a word is new, it's explained right there.
I've closed 369 options trades since April 2025, and I'll show you exactly what I do, wins and losses. Bring your questions to the free Discord. That's how we all get better.
The big idea
The wheel is a way to get paid for being patient with stocks you'd be happy to own.
You do two things, over and over:
- Get paid to agree to buy a stock at a lower price.
- If you end up owning it, get paid to agree to sell it at a higher price.
That's it. Round and round, like a wheel.
Why people like it
- You get paid upfront, every time.
- You only buy stocks you already wanted.
- It's slow and steady, not a lottery ticket.
Why it's not free money
If a stock keeps falling, you still own it. The wheel doesn't stop losses. It just pays you while you wait.