facebookFor people who were interested in trying the options wheel strategy but slow to start, what held you back at the beginning? - Seedly

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For people who were interested in trying the options wheel strategy but slow to start, what held you back at the beginning?

Not looking to debate whether the wheel is good or bad in theory.

I’m more curious about what actually stopped people from getting started when they were new.

And by “options wheel”, I mean a common strategy where you sell cash-secured puts on stocks you’d be willing to own, and if assigned, you then sell covered calls on those shares.

Was it mainly:

  • not understanding the mechanics well enough?
  • broker / approval issues?
  • not enough cash to trade?
  • fear of assignment / bagholding?
  • not knowing which stock or ETF to start with, or what strike / expiry made sense?
  • not feeling confident enough to try it with real money?
  • something else?

Interested in hearing what the real blocker was, especially if you were options-curious for a while before doing your first trade, or considered it but never started.

Discussion (3)

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Definitely this - not enough cash to trade

100 shares per contract, if 1 share $100, initial outlay will be $10k per contract. even higher for those value or growth stocks.

definitely not "little or no money down" as many fake gurus claim to be.

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