Low Risk Options Trading - Wheel Strategy Pros & Cons
In 2023, I sold cash secured Put options and some covered calls for the entire year. In this video, I break down how much I made and how I got to those numbers.
I also go over how I keep track of my trades in Robinhood and show how you can set up a FREE Options Watchlist on Robinhood as well.
Lastly we go over some of the Pros and Cons of the Wheel Strategy and some things I've learned along the way.
00:00 - Intro
00:43 - Total Income Made
01:04 - Lower Risk Wheel Strategy
02:30 - My Actual Positions
04:16 - Robinhood Options Watchlist
05:07 - Robinhood Options Chain
08:17 - Coinbase Put Example
09:55 - Stock Price Crash Example
12:18 - Rolling Options Example
15:03 - Pros of My Wheel Strategy
17:37 - Cons of My Wheel Strategy
DISCLAIMER: I am not a financial advisor. The information contained in this video is for entertainment purposes only. Investing of any kind involves risk. Your investments are solely your responsibility and we do not provide personalized investment advice. It is crucial that you conduct your own research. I am merely sharing my opinion, and other's opinion, with no guarantee of gains or losses on investments. Please consult your financial or tax professional prior to making an investment.
