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We have talked a ton on this channel about the wheel strategy, which is selling covered calls and cash secure put to collect passive options premium. Last week I got ask a question about why you would ever want to close these options early. I think its very important to close your options. You must know your exits and how to get out to secure profit or to minimize risk.
I have talked about how I close my calls and puts at 75% profit. I got an awesome voicemail asking how I came up with that number. Why 75%?
In this video I will discuss how I got to that 75% profit number when selling calls and selling puts inside the wheel strategy and why you may want to consider doing the same!
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