--- title: "Latest Tutorials and Articles" description: "Free tutorials and articles on the Wheel Strategy, from stock selection and selling cash-secured puts to managing covered calls. New posts weekly." canonical: https://wheelmetrics.io/blog/ --- > For the complete WheelMetrics content index, see [llms.txt](https://wheelmetrics.io/llms.txt). This is the Markdown edition of https://wheelmetrics.io/blog/. # Latest Tutorials and Articles Free tutorials and articles on the Wheel Strategy, from stock selection and selling cash-secured puts to managing covered calls. New posts weekly. Each article is also available as Markdown at its URL plus `index.md`. RSS feed: https://wheelmetrics.io/blog/index.xml ## All articles - [Value Stocks vs. Growth Stocks for The Wheel Strategy](https://wheelmetrics.io/blog/value-vs-growth-stocks-wheel-strategy/) (October 5, 2026): Value or growth? The best Wheel candidates combine both. Learn why pure value and pure growth fail and how a quantamental approach finds the sweet spot. - [Why You Should Avoid High-Flier Growth Stocks for The Wheel Strategy](https://wheelmetrics.io/blog/avoid-high-growth-stocks-wheel-strategy/) (September 28, 2026): High-growth stocks look like perfect Wheel candidates but the strategy's capped upside and full downside exposure create a structural mismatch. Here's why. - [Why You Should Avoid Meme Stocks for The Wheel Strategy](https://wheelmetrics.io/blog/avoid-meme-stocks-wheel-strategy/) (September 21, 2026): Meme stocks offer fat option premiums that mask catastrophic risk. Learn why they destroy Wheel portfolios and how to spot them before selling puts. - [Choose Stocks You Want to Own Long-Term for The Wheel Strategy](https://wheelmetrics.io/blog/choose-stocks-to-own-wheel-strategy/) (September 14, 2026): Stock selection is the most important decision in The Wheel Strategy. Learn the 6-12+ month ownership test and what makes a stock worth Wheeling. - [Covered Calls for The Wheel Strategy: The Complete Guide](https://wheelmetrics.io/blog/covered-calls-complete-guide/) (September 7, 2026): The complete playbook for selling CCs, picking strikes, and grinding your cost basis lower for The Wheel Strategy. - [What to Do If Your Covered Call is Losing Money](https://wheelmetrics.io/blog/covered-call-losing-money/) (August 31, 2026): If your covered call is losing money, don't panic. Here's how to decide whether to hold, let it go, roll, or buy back. - [What Happens When Your Covered Call is Exercised and Called Away?](https://wheelmetrics.io/blog/covered-call-called-away/) (August 24, 2026): When your covered call is exercised, shares are called away at the strike price and you keep the premium. Here's what happens and how to calculate your profit. - [How to Filter and Screen Covered Calls for The Wheel Strategy](https://wheelmetrics.io/blog/screen-filter-covered-calls/) (August 17, 2026): Learn how to screen covered calls for The Wheel, including the minimum strike price filter, conviction-based delta, and DTE. - [Selling Covered Calls Below Your Cost Basis](https://wheelmetrics.io/blog/selling-covered-calls-below-cost-basis/) (August 10, 2026): Selling covered calls below your cost basis can accelerate recovery on an underwater position, but only when your thesis is intact. Here's how to judge it. - [Selling Covered Calls Above Your Cost Basis](https://wheelmetrics.io/blog/selling-covered-calls-above-cost-basis/) (August 3, 2026): Selling covered calls above your cost basis is the default Wheel play, every outcome is a profitable win. Here's how to pick the right strike. - [How to Sell Covered Calls After Assignment in The Wheel Strategy](https://wheelmetrics.io/blog/sell-covered-calls-after-assignment/) (July 27, 2026): Got assigned on a CSP? Here's the 3-step playbook for selling your first covered call, including strike selection, delta rules, and a real trade example. - [What are Covered Calls (CCs)?](https://wheelmetrics.io/blog/what-are-covered-calls/) (July 20, 2026): What is a covered call? Learn how selling a call against 100 shares you own collects premium, lowers your cost basis, and completes the Wheel Strategy cycle. - [Cash Secured Puts (CSPs) for The Wheel Strategy: The Complete Guide](https://wheelmetrics.io/blog/cash-secured-puts-complete-guide/) (July 13, 2026): Cash secured puts are Phase 1 of the Wheel Strategy — getting paid to place a limit order on stocks you want to own. Here's the complete CSP playbook. - [How to Take Partial Profits on Cash Secured Puts](https://wheelmetrics.io/blog/partial-profits-cash-secured-puts/) (July 6, 2026): Three partial profit techniques for CSPs: The 50% Rule, Turbocharge Rule, and 80% Profit Target (plus when to use each one). - [What to Do If Your Cash Secured Put is Losing Money](https://wheelmetrics.io/blog/cash-secured-put-losing-money/) (June 29, 2026): Your CSP is showing red. Don't panic. Here's how to decide whether to roll, hold, or close (includes a real trade breakdown and decision framework). - [What Happens When Your Cash Secured Put Gets Assigned?](https://wheelmetrics.io/blog/cash-secured-put-assignment/) (June 25, 2026): Assignment isn't a failure in the Wheel Strategy, it's a capital rotation event. Here's what happens when your CSP gets assigned and what to do next. - [How to Enter a Cash Secured Put Position: Step-by-Step](https://wheelmetrics.io/blog/enter-cash-secured-put-position/) (June 22, 2026): Learn how to enter a cash secured put step-by-step, from confirming your thesis to placing a sell-to-open limit order and managing the position after fill. - [How to Screen and Filter Cash Secured Puts for The Wheel Strategy](https://wheelmetrics.io/blog/screen-filter-cash-secured-puts/) (June 18, 2026): Learn how to screen cash secured puts for The Wheel, including filtering options by DTE, annual yield, delta, ROC, and earnings date. - [How to Choose the Right DTE When Selling Cash Secured Puts](https://wheelmetrics.io/blog/choose-dte-selling-cash-secured-puts/) (June 15, 2026): Learn how to choose the right DTE for cash secured puts. Compare 7-14, 30-52, and 60-90 DTE ranges across premium, theta decay, gamma, and yield. - [WheelMetrics Performance Report: January–May 2026](https://wheelmetrics.io/blog/wheelmetrics-pro-verified-results-2026-h1/) (June 12, 2026): I hired an independent CPA to verify five months of my real-money Wheel Strategy results, straight from the brokerage records. Here's the full report. - [How to Calculate Return on Capital (ROC) for Wheel Strategy Options](https://wheelmetrics.io/blog/calculate-return-on-capital-wheel-strategy/) (June 11, 2026): Learn the Return on Capital (ROC) formula for options, with real examples showing how much cash each Wheel trade puts in your pocket per cycle. - [How to Calculate Annual Yield on Wheel Strategy Options](https://wheelmetrics.io/blog/calculate-annual-yield-wheel-strategy/) (June 8, 2026): Learn the annual yield formula for options (Premium / Capital x 365 / DTE), with real examples showing how to compare trades across strikes and DTEs. - [The Pros and Cons of Selling Cash Secured Puts](https://wheelmetrics.io/blog/pros-cons-selling-cash-secured-puts/) (June 4, 2026): Honest look at the advantages and disadvantages of selling cash-secured puts, with real examples showing when the strategy works and when it doesn't. - [Cash Secured Puts vs. Naked Puts for The Wheel Strategy](https://wheelmetrics.io/blog/cash-secured-puts-vs-naked-puts/) (June 1, 2026): Cash-secured puts require full collateral while naked puts use margin. Learn why Wheel traders should typically cash-secure their puts for the Wheel. - [What are Cash Secured Puts (CSPs)?](https://wheelmetrics.io/blog/what-are-cash-secured-puts/) (May 28, 2026): Learn what cash-secured puts are, how they work step by step, why traders sell them, and the risks involved. Real examples included. - [Options Fundamentals: The Complete Guide](https://wheelmetrics.io/blog/options-fundamentals-complete-guide/) (May 25, 2026): The complete options fundamentals guide for Wheel traders: contracts, Greeks, volatility, liquidity, and the mistakes that cost real money. - [Common Options Trading Mistakes to Avoid for The Wheel Strategy](https://wheelmetrics.io/blog/options-trading-mistakes-wheel-strategy/) (May 21, 2026): The 7 most common options Wheel Strategy mistakes that blow up accounts, from ignoring the Greeks to Wheeling stocks you don't want to own. - [Understanding Bid-Ask Spreads and Options Liquidity](https://wheelmetrics.io/blog/bid-ask-spreads-options-liquidity/) (May 18, 2026): Learn what an options bid-ask spread is, how it erodes your Wheel Strategy returns, and how to use volume, open interest, and limit orders to trade smarter. - [IV and HV: Using Volatility to Select Better Wheel Trades](https://wheelmetrics.io/blog/implied-vs-historical-volatility/) (May 14, 2026): A practical framework for IV and HV. Learn how to combine implied volatility and historical volatility to select better Wheel trades. - [What Is Historical Volatility (HV)?](https://wheelmetrics.io/blog/what-is-historical-volatility/) (May 11, 2026): While Implied Volatility measures expected future movement, Historical Volatility (HV) measures how much a stock actually moved in the past. - [What Is Implied Volatility (IV)?](https://wheelmetrics.io/blog/what-is-implied-volatility/) (May 7, 2026): Implied Volatility (IV) is the market's forecast of future movement and the single biggest driver of how much premium you collect. - [Understanding Theta: Time Decay and The Wheel Strategy](https://wheelmetrics.io/blog/understanding-theta-time-decay-wheel-strategy/) (May 4, 2026): Theta measures time decay in options. Learn how theta drives daily income for The Wheel Strategy, and how to use theta for strike selection and DTE timing. - [Understanding Delta: The Most Important Greek for The Wheel Strategy](https://wheelmetrics.io/blog/understanding-delta-wheel-strategy/) (April 30, 2026): Learn how to use delta for strike selection in the Wheel Strategy. Delta approximates your probability of assignment and guides every strike decision. - [The Options Greeks Explained: Delta, Theta, Gamma, Vega](https://wheelmetrics.io/blog/options-greeks-explained/) (April 27, 2026): Learn about the options Greeks: delta, theta, gamma, and vega, what they measure, and how Wheel traders use them for strike selection and position management. - [How to Read an Options Chain](https://wheelmetrics.io/blog/how-to-read-options-chain/) (April 23, 2026): Learn how to read an options chain, including bid, ask, strike, volume, and open interest, so you can find the best setups for selling puts and covered calls. - [Understanding Options Contracts: Strike, Expiration, Premium](https://wheelmetrics.io/blog/options-contracts-strike-expiration-premium/) (April 20, 2026): Learn how strike price, expiration date, and premium define every options contract, and how each one affects your risk and return when selling puts and calls. - [What Are Stock Options? A Beginner's Guide](https://wheelmetrics.io/blog/what-are-stock-options/) (April 16, 2026): Learn what stock options are, how calls and puts work, and key terms every beginner needs. A plain-English guide to options fundamentals. - [The Wheel Strategy: The Complete Guide](https://wheelmetrics.io/blog/wheel-strategy-guide/) (April 13, 2026): The Wheel Strategy cycles between cash-secured puts and covered calls on quality stocks, collecting premium at every stage. The complete guide. - [Is The Wheel Strategy Right for You?](https://wheelmetrics.io/blog/is-wheel-strategy-right-for-you/) (April 9, 2026): The Wheel Strategy isn't for everyone. Use this self-assessment to find out if your temperament, capital, time commitment, and goals align. - [Common Wheel Strategy Myths and Misconceptions](https://wheelmetrics.io/blog/wheel-strategy-myths-misconceptions/) (April 6, 2026): The Wheel Strategy is surrounded by myths. Here are the 15 most common misconceptions and the reality behind each one. - [Understanding Risks with The Wheel Strategy](https://wheelmetrics.io/blog/wheel-strategy-risks/) (March 30, 2026): The Wheel Strategy has real risks that every trader should understand before committing capital. Here's each one ranked by severity with mitigation steps. - [What Returns Can The Wheel Strategy Generate?](https://wheelmetrics.io/blog/wheel-strategy-returns/) (March 23, 2026): The Wheel Strategy can generate 8-12%, 12-20%, or 20-35%+ annualized returns depending on your approach. Here's what drives each tier. - [How Much Capital Do You Need for The Wheel Strategy?](https://wheelmetrics.io/blog/wheel-strategy-capital-requirements/) (March 16, 2026): The Wheel Strategy requires a minimum of $10K to start, with $25K-$50K as the practical sweet spot. Here's what's possible at each account size. - [The Wheel Strategy: Step-by-Step](https://wheelmetrics.io/blog/wheel-strategy-step-by-step/) (March 9, 2026): A complete step-by-step walkthrough of the Wheel Strategy, from your first cash-secured put to getting called away. - [What is The Wheel Strategy?](https://wheelmetrics.io/blog/what-is-the-wheel-strategy/) (March 2, 2026): Learn what the Wheel Strategy is, how it works, who it's for, and what returns to expect. A comprehensive introduction for retail investors. --- *WheelMetrics content is educational and is not individualized financial advice. Source: https://wheelmetrics.io/blog/*