What do you think?
Rate this book
The Options Wheel Strategy: The Complete Guide To Boost Your Portfolio An Extra 15-20% With Cash Secured Puts And Covered Calls
What if you could make an extra $100 each week with stocks you would love to own?If you’re worried about current market instability… then the Wheel Strategy is here to amplify your returns.
This triple income strategy has been dubbed “buy and hold investing on steroids”
It’s so effective because you receive an immediate cash injection directly into your brokerage account.
With cash secured puts, you get paid to buy stocks you want to own.
Then with covered calls, you get paid to own them.
Finally, you can sell your shares for a profit.
So you get paid not once. Not twice. But three times!
And if you feel uncomfortable when you hear the word “options” – don’t worry.
Because inside this book… we explain exactly how to use options the way Billionaire investors like Warren Buffett and Bill Ackman do.
If you don’t have much starting capital, you can get started with just $2,000 in your account.
Even if you stated investing later in life. There are people who started in their 50s, 60s and 70s successfully trading the wheel for extra income on the side.
Whether you want to earn an extra $500, $1,000 or even $2,000 every single month. The Wheel Strategy makes it possible
Here is just a fraction of what you’ll discover inside this book
· Why George Lucas (yes, that George Lucas) is the greatest options trader of all time – Page 15
· The only method to track your returns accurately. Many people are making less money than they believe – Page 122
· The 6 criteria you should use to select stocks for The Wheel – Page 69
· The 5 best stocks for the wheel strategy in 2021 – Page 54
· The minimum amount of premium you should be collecting. Most new traders get this wrong and lose their shirt in the process – Page 107
· Which IV your stocks should be at for optimum risk/reward rate. Many people new to the Wheel Strategy get this wrong and end up losing money as a result – Page 70
· “The VIX Trap” – you should never write options if the VIX is above this level – Page 97
· The perfect delta level for your covered calls so you get the right balance of premium without risking your stock being called away – Page 108
· 4 real examples of potential wheel candidates – Page 81
…Plus free video tutorials for key parts of this strategy… plus 8 extra bonuses on Page 6
Even if you get stuck, you can always send us an email or reach out in our private investing community on social media – we’re always happy to help with any questions you might have.
And remember... bank CD's will only pay you between 0% and 1% a year... and the dividend yield on the S&P 500 is around 2%.
But if you use what’s inside this book, you have the opportunity to get much more than that.
For instance… if you put together a portfolio of three of the best Wheel Strategy stocks... you could see an average yield of 15-20% per year… just from your options income.
This triple income strategy has been dubbed “buy and hold investing on steroids”
It’s so effective because you receive an immediate cash injection directly into your brokerage account.
With cash secured puts, you get paid to buy stocks you want to own.
Then with covered calls, you get paid to own them.
Finally, you can sell your shares for a profit.
So you get paid not once. Not twice. But three times!
And if you feel uncomfortable when you hear the word “options” – don’t worry.
Because inside this book… we explain exactly how to use options the way Billionaire investors like Warren Buffett and Bill Ackman do.
If you don’t have much starting capital, you can get started with just $2,000 in your account.
Even if you stated investing later in life. There are people who started in their 50s, 60s and 70s successfully trading the wheel for extra income on the side.
Whether you want to earn an extra $500, $1,000 or even $2,000 every single month. The Wheel Strategy makes it possible
Here is just a fraction of what you’ll discover inside this book
· Why George Lucas (yes, that George Lucas) is the greatest options trader of all time – Page 15
· The only method to track your returns accurately. Many people are making less money than they believe – Page 122
· The 6 criteria you should use to select stocks for The Wheel – Page 69
· The 5 best stocks for the wheel strategy in 2021 – Page 54
· The minimum amount of premium you should be collecting. Most new traders get this wrong and lose their shirt in the process – Page 107
· Which IV your stocks should be at for optimum risk/reward rate. Many people new to the Wheel Strategy get this wrong and end up losing money as a result – Page 70
· “The VIX Trap” – you should never write options if the VIX is above this level – Page 97
· The perfect delta level for your covered calls so you get the right balance of premium without risking your stock being called away – Page 108
· 4 real examples of potential wheel candidates – Page 81
…Plus free video tutorials for key parts of this strategy… plus 8 extra bonuses on Page 6
Even if you get stuck, you can always send us an email or reach out in our private investing community on social media – we’re always happy to help with any questions you might have.
And remember... bank CD's will only pay you between 0% and 1% a year... and the dividend yield on the S&P 500 is around 2%.
But if you use what’s inside this book, you have the opportunity to get much more than that.
For instance… if you put together a portfolio of three of the best Wheel Strategy stocks... you could see an average yield of 15-20% per year… just from your options income.
- GenresFinance
128 pages, Kindle Edition
Published May 20, 2021
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 19 of 19 reviews
June 20, 2022
Very good simple book.
I had been following this strategy already to monetise my share portfolio but once I found it had a name, invested in learning more about it.
Some great pointers on time decay, delta, volatility and general profit maximisation. The advantages of monthly over weekly options.
The only think I would add is a more lucrative entry option, using an Iron Condor with an extra short put. Structured to remain profitable if the price rises but is significantly more profitable in a flat market and critically decreases the effective cost basis if the price does fall and assignment occurs.
I had been following this strategy already to monetise my share portfolio but once I found it had a name, invested in learning more about it.
Some great pointers on time decay, delta, volatility and general profit maximisation. The advantages of monthly over weekly options.
The only think I would add is a more lucrative entry option, using an Iron Condor with an extra short put. Structured to remain profitable if the price rises but is significantly more profitable in a flat market and critically decreases the effective cost basis if the price does fall and assignment occurs.
April 30, 2022
a good introduction
This short ebook introduces the Wheel income investing strategy of selling cash-secured puts, and then selling calls against shares when assigned. I have been trading this strategy for a few months. In my opinion, this book provides an introduction to the strategy & gives some good tips but readers should be aware that some Wheel practitioners advocate things contrary to what’s in the book. That is to say, there are multiple approaches to the strategy & readers should not IMO take this book as THE approach
This short ebook introduces the Wheel income investing strategy of selling cash-secured puts, and then selling calls against shares when assigned. I have been trading this strategy for a few months. In my opinion, this book provides an introduction to the strategy & gives some good tips but readers should be aware that some Wheel practitioners advocate things contrary to what’s in the book. That is to say, there are multiple approaches to the strategy & readers should not IMO take this book as THE approach
March 13, 2025
Overall the best book to refer someone who is a novice options trader. I followed the same for cash secured puts as this strategy is ideal for investors who are bullish on the long-term prospects of their stock but are concerned about possible declines in the short term. Protective Put is also suitable for those looking to protect unrealized gains without selling their shares.
October 14, 2025
A good introduction to the concept of The Wheel Strategy, however, I felt it was extremely surface level. There were a few sections that dove into numbers, tips, and examples of the strategy in action, but honestly I wish that’s what a majority of the book was focused on.
A small amount of the same financial book filler that can be found in numerous other entries, however, I still found it helpful and an easy read.
Excited to put this into action in my portfolio.
A small amount of the same financial book filler that can be found in numerous other entries, however, I still found it helpful and an easy read.
Excited to put this into action in my portfolio.
March 14, 2026
Great intro with examples
This book explains what the options wheel is and provides entry level guidance on how to select a stock, how to read and interpret charts, some basic indicators, a (very) limited introduction to the Greeks, and presents some strategies for rolling your positions.
Its enough to get you started and also understand what concepts you should research further.
This book explains what the options wheel is and provides entry level guidance on how to select a stock, how to read and interpret charts, some basic indicators, a (very) limited introduction to the Greeks, and presents some strategies for rolling your positions.
Its enough to get you started and also understand what concepts you should research further.
April 16, 2026
Untrustworthy. It feels like it was written by a ghost writer who thinks they know finance but does not really know it well. Best example, the book was talking about the risk of a short put option expiring in the money. People who know that means you will probably take delivery, but this book was saying that you would be forced to deliver. Rookie error.
I have no interest in learning an options investment strategy from someone who obviously knows so little about options.
I have no interest in learning an options investment strategy from someone who obviously knows so little about options.
October 31, 2023
Great income strategy.
Great book on generating income that your financial planner will not or can tell you about. Using CCs and CSPs in my accounts allowed me to retire and replace my income at 60 years old. Most of the income generated is from my ROTH IRA account...no taxes; sweet.
Great book on generating income that your financial planner will not or can tell you about. Using CCs and CSPs in my accounts allowed me to retire and replace my income at 60 years old. Most of the income generated is from my ROTH IRA account...no taxes; sweet.
February 24, 2024
Very good explanation of The Wheel strategy!
Many trading books are not very good at teaching what to do and what not to do. This book is an exception. The writing is straightforward and easy to understand. I highly recommend this book to anyone considering using The Wheel strategy!
Many trading books are not very good at teaching what to do and what not to do. This book is an exception. The writing is straightforward and easy to understand. I highly recommend this book to anyone considering using The Wheel strategy!
April 23, 2026
the quality of the writing, as well as the depth of the knowledge on the topic, feels very questionable throughout the reading.
It is somewhat a good introduction to the strategy, however the huge potential drawback of its is not addressed enough. we have seen stable stock during the pandemic to lose a huge portion of its value overnight
It is somewhat a good introduction to the strategy, however the huge potential drawback of its is not addressed enough. we have seen stable stock during the pandemic to lose a huge portion of its value overnight
December 12, 2021
The Wheel of Fortune
Well written for CSP sellers.
Ways and means of getting out of tough situations of CSP with rolling.
This needs to be read multiple times until it comes a way of trading.
Nicely done.
Well written for CSP sellers.
Ways and means of getting out of tough situations of CSP with rolling.
This needs to be read multiple times until it comes a way of trading.
Nicely done.
June 2, 2021
Worthy read. Expect to have an understanding of the capital markets including options before you read this book.
July 6, 2021
One of the best books that I have read about Options!
November 16, 2021
Excellent book with lots of details
I thought I knew CSPs and CCs which helped me understand this book better. But there were lots of explanations with examples. Highly recommended
I thought I knew CSPs and CCs which helped me understand this book better. But there were lots of explanations with examples. Highly recommended
February 5, 2022
Some good new strategies for earning a little additional return as part of a larger strategy.
May 11, 2024
Good concept and practical pointers
November 22, 2025
beginner stuff
January 17, 2026
Great book on this strategy with examples and ideas to be successful.
March 5, 2023
Useful and practical
The Wheel Strategy is simple and relatively safe It is a simple strategy and can be a good starting point for option traders. I found it somewhat verbose and repetitive. Still it gives good information. The best part is that it is free reading! Thank you!
The Wheel Strategy is simple and relatively safe It is a simple strategy and can be a good starting point for option traders. I found it somewhat verbose and repetitive. Still it gives good information. The best part is that it is free reading! Thank you!
October 2, 2021
Good for novice traders
I use this strategy as a secondary strategy on mega market cap stocks.
My main strategy is buying large cap techs
I use this strategy as a secondary strategy on mega market cap stocks.
My main strategy is buying large cap techs
Displaying 1 - 19 of 19 reviews