{"id":"options-wheel","category":"options_strategy","title":"The Options Wheel Strategy","summary":"Sell CSP → take assignment → sell CC → repeat. Income generation on quality stocks.","trigger":{"always":false,"sectors":[],"tickers":["AAPL","MSFT","SPY","QQQ","NVDA","AMZN","JPM","AMD"],"regimes":["trending_bull","range_bound"]},"ttl_hours":336,"content":{"step_1_sell_csp":{"stock_selection":"High-quality, liquid large-caps you'd be happy to own at the strike. Min IVR 30.","parameters":"0.30 delta put, 30-45 DTE. Hold 100% cash cover for the strike price.","exit_rules":"Close at 50% max profit early. Roll down and out if tested before expiry."},"step_2_if_assigned":{"action":"Accept 100 shares at strike. Cost basis = strike - premium collected.","next_step":"Immediately sell covered call at 0.30 delta above current price, 30-45 DTE."},"step_3_sell_cc":{"parameters":"0.30 delta call, 30-45 DTE. Strike at or above original purchase price.","exit_rules":"Close at 50% profit. If called away, return to Step 1."},"best_conditions":"Range-bound to mild bull market. IVR 30-60. High-quality stock, no binary events.","avoid_when":"Bear regime (stock could keep falling through strikes). VIX > 30 (too volatile to manage). Pre-earnings.","verdict":"The wheel generates 2-5% monthly on capital deployed in calm markets. Key rule: only wheel stocks you genuinely want to own — the strategy fails if you're forced to hold a stock you don't want."}}