How I Use Options Wheel Strategy To EARN MONEY
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- Опубліковано 25 сер 2024
- In this video, I’ll show you a very powerful options strategy called The Wheel. Enjoy!
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Thank you so much for sharing Kelvin. My hubby and I have been thinking of doing it, your video gives us a boost in confidence so we will try it out.
Haha just do it, it was very mindblowing for me. Start with a small amount if u are unsure
Thank you for this video, Kelvin! Could you make a tutorial video on how to trade options on IBKR?
Soon soon
Can demo TD as well?
@@KelvinLearnsInvesting please advice is it better to do sell call or sell put because sell call also can get assigned.. but the credit received is more than sell put..
Hi Kelvin, can you show us the live video on how you do these Cash Covered Put & Covered Call of the BAC & Nio Stocks you did weekly on Tiger Brokers? Thank You!
Hi Kelvin, does Tiger brokers support covered calls? In the event you are made to own the stock, you sell a call only after you own 100 shares, is that a covered call?
Hi Kelvin, How could I close the position of a cash covered put?
Thank you Kelvin bro for the selfless sharing.
You made investing so much easier for us folks, LIKED AND SHARE!!!
Hi Kelvin can I ask when i sell put my stock will show -1 if the stock drop but not yet hit the strike price will the buyer exercise the stock option? Than I need to pay and buy the whole 100 stock? Or there is rules that need to be hit the strike price then the buyer can exercise?
Excellent video, very informative. Request you to make a video on downside of option buying, if any ?
Explained the two options so clearly and ive been watching so many videos. He Explained in 5 mins. In English which isnt his first language. Well done bro.
I just still need to answer two questions which i cant find answers to:
1. What program to use for selling Puts and Calls.
2. When selling Puts are you selling your own shares??
tiger brokers, moomoo, interactive brokers
when u sell cash covered puts u are sort of selling a contract to another investor say that if the strike price hits a certain amount u will buy those x100 stocks at that price. what u are earning here is the premium u earn from selling said "contract".
Hi Kelvin, Happened to run into this video, and quite happy to see that you seem to have an honest approach to sharing your success. Whilst your intentions are great, I do hope you realize how serious this can be to the general public. Options trading is a very high risk game, and in reality, the money is not free, its just a return for taking a much higher risk than owning the underlying stock. Please, in public interest, I recommend you provide adequate disclaimers, and remove erroneous claims such as "free money".
Thanks for the advice, i'll keep this in mind!!
Hi Kevin, would like to know if you are still sticking with the Wheel Strategy in the bear market, and how has it been performing. Thank you!
I haven't been doing the wheel strategy for a very long time. Currently just doing a normal covered call + cash covered put
Hi Kelvin, I'm a newbie in trading. I have a question on your trading log.
(1) At video 10:09, on 20Feb21, you had a loss of $1300 due to assignment of put option. How do you get -0.23% in return?
(2) On 16Oct21, you had a loss of $50 due to assignment of put option. Why don't need to track loss in return in this case?
Thanks!
Hi Kelvin, just noted that HK also has option trading. Would you be able to help check out and share if there is any reason why this cannot be another avenue for option trading beside the US market? Knowing that many investors are probably investing in some of the value stocks in HK market, it could be a good way to sell call and earn some money while waiting for the stocks to rise?
Hi Kelvin, how long does it usually take for your option orders to get filled?
Hi Kelvin, just want to check which broker are you using and you recommend that has the:
1) Cash Covered Put
2) Covered Call
Options?
Hi Kelvin, could you share the excel sheet that you have been using for Options?
I could not find it in the description.
Thanks Kelvin for the video. Do you have any books or videos to recommend for someone who wants to learn to trade options?
A little late to reply, but check out these 2 youtube channels:
- kamikaze cash
- in the money
Hi Kelvin, wheeling and rolling seemed a little similar to me. Can you kindly explain their main difference please? Thank you
Thumbs up for your vids! Kelvin, you should write a book leh..really should
thk u for sharing
Cikgu, you are the best.
I have question on the spreadsheet, what is debit and credit?
Ah, credit means how much premium i received when selling. Debit is how much i paid to close to buy back
hi kelvin, after watching 3 episodes of options strategy shared by you, can i confirm if we want to use the wheel strategy, minimum for sell option to hv 100 stocks that we like to hold. And choose low price stock like u mention, unless we hv big capital at least 5k or 10k USD
Great video and clear explanation.
Can u do a step by step video on how to execute options in tiger? When to close an option ?
What about selling strangle, earn from both sides.
Hihi Kelvin! Your videos are really easier to understand.. Pls do more options videos!:)
hi Kelvin, thanks for sharing the video ! i'm inspired by your option trading and just started my own.. but i cant find any easy and clear tracking template on internet, are you happy to share with your audience? thanks!
Here you go, just duplicate and use it: ko-fi.com/s/94f3ab6baf
So not all of us have 100 stocks, can i just go with the cash covered put strategy alone, without the covered call? understand return will be lower, but theoretically, it should still work?
It will work sometimes, if you do it long enough, you will get assigned the stock, after that what you plan to with 100 stocks?
Thank you for the useful content 👍
kelvin just a question u recommended selling puts and calls with 30-45 days to expiry, but in your spread sheet all positions are only a weeklong, what made you do so?
The 30-45 days is the recommended way to handle volatility. But i was experimenting and found that i can handle the risk of selling 7 dte
Thank you for the quality content.
@Kelvin Learns Investing please advice is it better to do sell call or sell put because sell call also can get assigned.. but the credit received is more than sell put..
What about after selling put, got the assigned stock, then keep on selling call at high price at low premium for many times.
Hi Kelvin, where can we find the spreadsheet that you used to track the options tradings?
I happen to chance upon your videos and have been enjoying it. Great stuffs. May I know options selling is only available for US stocks? Is there any options selling equivalent for other markets e.g. china or HK stocks? Thanks
Regarding your 2 (loss) trades, i don't understand why you lost. Can you further explain?
im new to this but will try to explain.
kelvin sold a covered call. in selling covered calls, the seller (kelvin), will want the contract to expire worthless, eg $100 stock price < 110$ option strike price. (scenario A)
the buyer of the option contract, would want a bull run on the stock so $100 stock price > $90 option strike price. (scenario B)
what happened was that scenario B took place and the stock price increase beyond the option strike price, thus the buyer can exercise the option and force kelvin to sell 100 shares of the stock at the option strike price, causing kelvin to lose money because he sold his shares below market price
lmk if that helps
@@Jun-zq3bn my understanding of the wheel strategy is if selling covered calls, the worst can happen is your shares get called away. You have nothing to lose. Unless your strike price plus premium is below average cost of shares. I might be missing something.
@@davidyklee if you want to sell covered calls, you need 100 shares of the stock to do it just in case the stock price rise above the option strike price, and the option gets exercised.
In that case the buyer can force u to sell 100shares of the stock at the option strike price and while you earn from selling the stock, it is below market price so that's the loss you bear
Great informative video. By the way,what is the capital outlay to do this
Hi what broker support the wheel strategy and is good to use from NZ?
Hi Kelvin, can u pls guide me after I sell put option, then what should I do next? Do I need to “close” the option upon expire date? I never sell option but only have the experience of buying option and I know we will need to close the option earlier or latest by option expire date for “ buy option “ case
If you sell put and if transcated price never fall below the strike price. you collect your premium which also means free money. Like what he said always sell put for those company which is financially strong and profitable.
@@KelvinTan808 Thanks Kelvin, so that means if I sell put and price never fall below my strike price, then I will no need to do anything right ? The option will close automatically upon expire date , am I right ?
@@carolinetan9864 yes you are right. Options will expires after expiration date and become worthless. Rule no1: Never lose money Rule No 2: Refer to rule 1. Always do research on the company which are selling options. Dont do anything if you are not familiar with the company core business. Always remember it is your own money.
@@KelvinTan808 ok thanks
hi kelvin, may i know which website you referred when checking stock info (check reit dividend in middle of video), is it payable?
What is 30 Delta in sell put ? Greater than -0.3 ?
What is 30 Delta in sell call? Also greater than 0.3?
Yea, it's around 0.3
Can explain further what is 30 delta? many thanks
@@silvervoice I mentioned wrongly, it should be 0.3 delta. Delta is just how much option price moves when stock moves $1. So if delta is 0.3, stock moves $1, option price moves $0.30
Thanks Kelvin for the videos. Could you do a options call & put videos using moomoo? Thanks
Once moomoo supports option strategy I'll do it
@@KelvinLearnsInvesting can do a video
on tiger broker also?
Sure
but why there is PUT sell and PUT buy what is the different???
Just think of options like stock. When you buy a stock, a buyer is buying from a seller.
In put, the option buyer can exercise the option to sell 100 of his stocks to the option seller.
When you sell PUTs are you selling your shares
Hi, Kelvin ~ can you try doing this wheel strategy or sell options via Tiger Paper account? Just for newbie to familiarize the interface
good useful video 👍, but not all brokerage offers options? looking forward to ur video on step by step guide using Tiger broker to sell put option. thanks!
Tiger doesn't support covered calls. But i heard moomoo supports it now. When tiger supports it i'll make a tutorial haha
@@KelvinLearnsInvesting can check what u mean Tiger dun support covered calls? So what happens when u sell a call option on Tiger and u actually have the shares?
@@TK-hw6jk If it goes in the money, Tiger doesn't sell your share, it treats your call as a naked call, and use your money to buy the share to sell it
@@KelvinLearnsInvesting ic thanks. so for IBKR can u indicate whether you want to sell a covered put/ naked put? similarly can u indicate u wan to sell a covered call/ naked call? or the system will just auto deduct your cash balance and stock balance if you have enough cash/ stock to fulfil the put/call option?
@@KelvinLearnsInvesting can do a video how to do option wheel on moomoo?
If the put options got exercise, do I need to deposit the amount immediately?
Chloe from option logged in.....
Its great for people who have free time
although alot of videos recommend 0.3 delta, what if we do the exact opposite? Every time we sell put or sell calls, we will do it ITM, if it assigns it does not matter and as long as the strike price u put after owning the stock is higher than the strike price when you puts get assigned we win? Any risk to this strat?
Hi Kelvin, care to explain PMCC strategy, as I can only buy veg in Chng peng :((
New viewer here, thanks for sharing and l learn alot.
My question is why the auto subtitles is in Korean LOL!
Hahaha, no idea
Hi Kelvin, may I know how you derive the debit amount in your option trades tracking sheet?
Can u purchase options in Vickers?
hi kelvin , any idea if tiger supports covered calls on expiry? coz i read somewhere on reedit there was a user that got burn as tiger did not sell his share away at the strike price but instead force bought back the covered call option which in the end resulted in a loss for him
What is the app you’re using at 5:06
Hi Kelvin what time do you trade and do I need to be on the com whole day?
Usually i just deal with option when market open, then go to sleep
Is moomoo giving out free share to new account opening directly or have to complete the tasks given after open account?
Hi Kelvin, for this strategy you are using MKT or Limit?
Market. I too lazy to wait
Hi Kelvin, if I sold a call option,will I get the premium once I executed the trade or on the strike date?
You will receive once you executed the trade
Kevin, this is extremely helpful. I have a question. Why there are Debit for Sell call/put? Eg. SELL 29 Jan C 64, there is debit of $22?
Oh, debit means i buy back to lock in profit
Kelvin, I opened a covered call on AMC on 23rd Aug, stock price was $35. Expiration 17th Sept, strike $50. Collected the premium. Stock shot up to $46. Now, if I want to close my CC I just have to buy back the same option, however the premium I would be paying is $6.25. I am losing money to close this? Why is that? Price is still under $50
Hello Kelvin, I recently watched Adam Khoo's options course over the weekend, which reminded me of your "Wheel Option" video😃. It has been two years since you last mentioned or updated the option strategy. Has this strategy become less profitable, or have you given up?
I stopped it long time ago because I realized wheeling generates lower return (at most 20% a year) vs stock which can easily generate higher return
Hi Kelvin, can you clarify whether the option is only exercised when the market closes on the expiry date, and the underlying stock price is
It depends on whether it is an American (can exercise anytime before expiry) or an European option (can only exercise on expiry date). Options that are ITM are exercised automatically at expiration.
hi kevin question I have on put options is that if a stock falls at or below the strike price of a stock before the expiry date, what happens? Do i buy the stock immediately or do they only look at the price on the expiry date of the option itself?
It depends on when the option buyer wants to exercise the option. From my experience, the option has always been exercised on last day after market close
Since options is between 2 parties, does it mean if 1 party wins, the other loses? e.g. If it expires worthless, means the other party loses.
If its just a normal buy sell, i guess you can put it that way.
Hi Kelvin! Thanks for the guidance. Would like to check for selling puts, do you base on a 30 delta too?
Yea, i use the 0.3 delta as a guide
@@KelvinLearnsInvesting thank you!
How is your wheel strategy with the recent market? Care for an update on the strategy and how you improve on your trading for options?
Do you still use this strategy?
Hi Kelvin. I'm noob here. I've been following your videos they are great info. Thank you.
Could you make video on how to know when to sell stock for profit? I have few stocks that have profit but I'm not sure when to sell them. I'm worried if i sell them then i cannot buy them anymore because the price may keep increasing. Thank you.
@KELVIN LEARNS INVESTING lol scammer you think your name all caps will work?
Wow this is crazy lol. Thanks bro Nicholas
That guy is a scammer lol. Anyway, my plan is to sell when I found a better investment, or when I need the money.
Learn to read price charts (technical analysis) to increase your odds of selling at a good time. Also, you can consider selling part of your holdings to capture some profits. If price continues to go up after the partial sale, the remaining holdings will still enjoy the upside. If price drops below your partial sale price and you really think it is a good stock, buy them back.
Hi kelvin, do you know if we need to post a maintenance margin if we sell put option on tiger broker?
Just make sure u have enough collateral to buy the stock if assigned. The collateral can be either money or margin. So to answer your ques, if u dont have enough $$ in the account, make sure the margin is enough
Hi kelvin, if dont want to own the share, can i still use this strategy to earn premium, that meant my sell put strike price has to be lower than the strike price in sell call? If my sell call assigned ,then i immediately execrise my sell call, then i don't need to own shares.
U are almost right. Instead of sell call u need to buy put. Go check out bull put spread see how it works: www.investopedia.com/terms/b/bullputspread.asp
Hi Kelvin, thanks for the video, I am using a similar strategy as well, can I check for the below?
1. For cash covered put, you started by selling cash covered put at -0.3 delta, if the px drops to your cash covered put strike price, you will hold the stocks at the strike price.
2. After you hold the stocks, you will start selling covered call at the holding price or remain at +0.3 delta?
1. Yes, that's what i do
2. It depends. If i feel the stock will trade below holding price, i'll sell at holding price. If i feel it will go up, i'll sell at 0.3 delta
@@KelvinLearnsInvesting thanks for the explanation Kelvin!
Am I correct to say that we need to have the 100 shares of a stock first before I can do the sell call option?
What happens if I have no current stock?
The system will block the sell?
Sorry if this a repeated question.
Yea u need to own at least 100 stocks to do a sell covered call
@@joshuang9726 Thanks for the confirmation. Appreciate it very much. Thank you.
Hi Kelvin , for cover call if i dont get to sell will i receive money from option?
When u sell the option, u will immediately receive cash
Im confused
Hi Kelvin, could you share how you determine a good strike price for your call/put options for your weekly options trading? Is it still the same delta~0.3 notion? Thank you Kelvin!
The general advice is 0.3 delta.
But if i want to own the stock, i modify the strategy a little. For example, if I want to own nio, i'll sell around 0.3 delta or even nearer to itm.
But lets say for AMC, i don't want to own it. In that case, I wont look at delta, instead i'll look at price difference. I'll maybe sell at 50% difference. So the stock has to drop by over 50% for me to get assigned.
What about selling penny covered call stocks? Wont it require less premium
Penny stocks are usually lousy stocks. Need to do this on stocks you are ok to own
Hi Kelvin, will you be open with sharing the spreadsheet you use to track your trades? Thanks alot
Hi Kelvin
Can share the excel sheet. Thks
你好 Kelvin, are all equity contracts have 100 shares per contract for US listed companies? I dont want to sell put option of one contract and end up having to buy 10000 shares....
US are all 100 stocks, no worries
Are you able to post a video with technicality on actually doing the wheel for example?
Sure, will plan this video in future
Hi could you share a step by step video on how to buy option? Which is a good broker to buy from? Thanks :)
I am doing on interactive brokers because of lower fees. Will make tutorial soon
Hiya roughly when will you make the video? Tried finding infor on how to do it but infor is quute limited. Really appreciate your help on this. Also do i need to prefund my account before i do any put option?
Hi Kelvin, if i sell a call/put option, can i still close it on the expiry date? If the expiry date is 30 Apr, what is the SG time that i can close the option?
U can actually close anytime as long as market is open
Hi kelvin, thank you for the informative sharing. Can you kindly explain further on how do you fill in the information inside your spreadsheet? I see that for example on 19 oct 2020, there is an entry where the qty is 2, credit 38, debit 18. can you explain further on this? Why is there a debit of 18?
regards
Ben
Oh, its because i bought back at $0.09 to lock in profit. So its $0.09 x 100 x 2
@@KelvinLearnsInvesting kelvin, is it possible to copy trade you? haha
What platform you use for option trading?
I use ibkr
Bro, u are my hero at this moment of time. have you explored the iron butterfly strategy? I’m trying to figure out if that’s safer than wheel strategy.
The reason i prefer wheel is because if the underlying stock goes below the strike, it will just be paper loss. And you get to own the stock which u are willing to own anyway. In iron butterfly, it will be a realized loss.
The benefit of iron butterfly is u need lesser capital to do
@@KelvinLearnsInvesting u are good! Buy u durian when the next durian season comes!
Hi Kelvin, Any good US stock below USD10 that u recommended for this whell strategy?
Hmm, the cheapest one i know is pltr. Other than that I’m not sure.
@@KelvinLearnsInvesting Alright thanks
Which platform is better to use to execute this Wheel Strategy since Tiger and Moo Moo doesn't support covered calls?
Interactive brokers and td ameritrade in my opinion. Btw, you can contact moomoo's support to enable covered calls
@@KelvinLearnsInvesting Seems like IBKR just removed their monthly maintenance fees! Will definitely look into that. Thanks!
@@mizzeek2196 Ya, that's really good news
Can this wheel strategy work on tiger brokers? How do you calculate your returns as well in your excel sheet?
Tiger brokers doesn't support covered call yet, i heard they will release this feature in next update. The returns is just premiums over strike price minus commission
wish to try but when see it in Tiger app.. all the numbers make so confusion. Can do a video to demo how to do the purchase, and how to see when to sell it?
@KELVIN LEARNS INVESTING is it ur acc being hacked? no more video seen
I'll make the tiger tutorial once they support option strategies. Btw, that guy is a scammer haha
Is it always necessary to close the option at expiry if I don’t mind getting assigned ?
Don't have to always close. The reason i close is because i want to re-sell a new option to get more money
@@KelvinLearnsInvesting that being said, if I have sold a put option which is OTM on expiry, what would be the difference if I closed the option at expiry vs not closing it at expiry?
If I don’t get assigned stock in cc put means I don’t need to do covered call?
Yea, bcos u start with cash. If the put doesnt get exercised, that cash wont be converted into stock. Without stock, u cannot do covered call
@@KelvinLearnsInvesting thanks!
Hi Kelvin, thank you for another informative video! What are your thoughts about the Grab SPAC? Could you perhaps make a video about SPAC in general and your perspective on Grab SPAC?
Will talk about it soon :)
@@KelvinLearnsInvesting Great, looking forward!
Hi Kelvin help pls,
I sold a put for Mara @25 strike price and options end 16 July 2021
Current price for mara is 22.90
When will I received the stock? How come my contract is still there with negative p&L?
Do i have to close the position on 19 July at a lost? or will received the stocks on Monday 19 July?
You should receive by today evening.
@@KelvinLearnsInvesting just checking the contract P&L is -162usd. The expiry date is 16july2021. This contract still have value or zero value alrdy due to expiry date strike?
How do u choose the strike price though? Do u go ATM or OTM?
i think if you are selling options, you will always be selling OTM
Normally i sell OTM, around 0.3 delta. ATM is too near. The goal of this strategy is to avoid assignment as much as possible to prevent lock up of money
i cant do a covered call after owning 100 shares of nio. How do you even sell it on tiger?
Tiger doesn't support covered call as you said. You can buy back the options to close it, or prepare the money for it to buy the stock n for it to exercise away
im trying to do cash covered call on IBKR on some ETF. but it just says No options are available for this underlying. is this strategy only limited on non LSE ?
Ya, some stock/etf don't have options.
@@KelvinLearnsInvesting wah thats sad. please recommend good growth stocks/etf good for this strategy too!
How is this different from shorting out of the money straddles? Thanks
Straddle are naked, meaning there's no cash to cover if it goes beyond the strike, when it happens the lose is realized and is potentially infinite. The wheel covers the option with cash, so its much safer, losses are paper loss, which can be recovered if you do it long enough
@@KelvinLearnsInvesting Thanks! :)
U use ibkr for options trading?
Yes
Hi Kelvin, if I do a buy call at strike price at $100 (premium paid $5) , and the current price is $120. If I close this option, my profit will be the premium $20 × delta right?
Eh no, it depends on what price u sold. Eg, u paid $5 to buy. If u close at $6, then u earned $1 x 100
@@KelvinLearnsInvesting But if i close the option at $120, shouldn't the premium in my favorite?
Or it better for me to exercise the option and sell it off at $120 instead? rather than I close/cancel it.
You close the option when the stock price is $120 right, so yeah the premium in your favor. Usually closing option will earn more, than exercising option
@@KelvinLearnsInvesting The reason is because before the expiration our option still value in it right?
@@tankh566 Ah, not really. It's because option has intrinsic + extrinsic value. That means if u sell the option, if there's extrinsic value, u will earn more than just exercising the option
Hi Kelvin, at 10.15, your spreadsheet shows on 20 Feb you bought 100 shares of NIO, presumably because the market price is $43 which is below the STRIKE of $56...but why did you show the loss of $1300? I presume you didn't sell NIO, so why did you show the DEBIT of $4300?
Which broker do u use for this strategy? Tiger n moomoo still not supporting this right?
I'm using interactive brokers. From what i heard, moomoo supports this now
@@KelvinLearnsInvesting Hi Kelvin, do you use the phone app or the TWS on PC for options on IBKR?
@@hiroshilim4827 I didn't use TWS, i'm just using normal ibkr app on phone
@@KelvinLearnsInvesting thanks for all the videos ✌️