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Short Term Wheel Trade on NUEAnother successful Wheel Trade on NUE: Tradingplan á la Rockwell Trading: Look for stock that is lower than yesterday Check the chart for a support level Check the fundamentals of the underlying Check correlation to your portfolio Don't be scared if you get the stock assigned Calculate the strike for a decent annualized ROI Trade ENTRY: Entry: 2023-05-24 09:52 Total premium netto: $ 118,64 Contracts: 3 Type: Short Put Strike: 129 Expiry: 2023-05-26 Trade EXIT: 2023-05-26 16:20 Expired worthless ann. ROI: 118,64 / ( 129 * 300 ) * 365 / 2 = 55,94%
NYSE:NUELong
by ThMar64
Wheel GeniusCurrently selling puts 10-14 days out to capture small %11 profit.... may get assigned and end up owning 100 shares and I'm ok with that ...Why because they paid me 20 bucks already. So i got to buy 100 shares at worth of 2.75 for 2.55 that may not seem like much but i also reduced my break even point by 11 percent so i'm closer to playing with house money instead of paying the full 275. This is how you buy stock at a discount. This is also what you call starting the wheel. #wheel
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by rahimdavis
SNAP Wheel Strategy Short PutSnapchat is down 25% from its highs, and while it has bounced up a little bit from the highs, it still remains oversold. Now might be the right time to sell a put into weakness and collect premium. Trade Idea: Medium Risk: The 44 Put expiring 4/16 for $1 credit . It has a 81.5% Prob. OTM and if you do get assigned, your cost-basis per share will be $43 and it is a good place to own as you will be in the middle of the volume profile for the last 6 months meaning that you won't be buying at the top but at the same time the bottom. Aggressive: The 47 Put expiring 4/16 for $1.5 credit . It is right below support and has a higher 75% Prob. OTM. While you have a higher chance of getting assigned with this one, considering the support level that hasn't been breached for months, you still have high odds of collecting the premium and not get assigned. Even if you do get assigned, your cost-basis per share will be $45.5. For both of these trade ideas, if you believe in Snapchat's fundamentals, which are pretty modest, you can hold on to the stock and sell covered calls (70-80% OTM) and collect premium until you get assigned. Once you do get assigned, you can come back to selling cash-secured puts again.
NYSE:SNAP
by punitarani
SFIX Short PutSFIX gap down following disappointing earnings and not-so-bright forecast for the next quarter. Same thing happened with INTC twice over the last year and we saw how it was just an over-reactionary sell-off as it quickly rallied up after a continuation sell-off for a week or so. SFIX's fundamentals are solid assuming that shipping problems don't disrupt the business too much. It will most likely close the gap at around 42. It might also pull down a little bit more, but hopefully it won't go below $34. It gives us a decent range from $34-$42 to accumulate the stock. There is also heavy support around the $41.5 area with both a supply/demand zone along with the 200-day SMA. Trade Ideas: Shares: Accumulate between $34-$42 . SL below that if it does continue to fall further, which is unlikely but make sure the SL isn't too close to the bottom support. We should see a push up to $53.75, $65 and $72.5+. Short Put: Medium Risk: 35 Strike for $0.85-$1 Cr. Aggressive: 40 Strike for $1.65 Cr. This can help you reduce your cost basis by at least $0.85 to $1.65 per share if you do get assigned. If you don't get assigned or the stock never dips that low, you get to keep the premium. It also only requires $385/$425 Buying Power which should yield a nice 22%/38% max ROC. In either case, assuming you have at least 1 lot of shares, you can always sell 70%-80% OTM covered calls for more passive income while your stock appreciates.
NASDAQ:SFIXLong
by punitarani
BTC Scythe or Cup - Crunch imminentUsing a very attentive, some would argue obsessive, strategy of continuous straddling pet named the "wheel". The main interest is levels to target key entries and exits to improve a position's price and size. Added to the mix to help also with the monotony are non linear trends. Some of your richer fx mates are riding 2 week long shorts searching for a deep retrace down the Scythe's blade.. There was a cross in the adx or something but maybe they were happy with their 28k retrace, dunno, haven't been bothered with the news.. Your old school holders have their hearts set on a retest of the ATH and a burst to 55k.. (ATH + Height of this new Top) Riding the binance futures usdt and btc inverse Wheel, we're trying to manage our entries and exits to keep ourselves in perpetual motion. Burst safety for short term on the long btc inverse account is 30k and for the short is 40k. Exiting funds from the opposite fuel the safety of their counterpart adding those extra legs if called upon before the much needed retrace to min markup. Entries scale exponentially with distance from position size and historic levels allow for intelligence to play a role in an otherwise mechanical system. One's penultimate pocket depth should be calculated to absorb 50% retrace with no exit (22k for bull run), but preferably one practicing this is obsessed and doesn't sleep in blocks longer than 3 to 4 hours, so they easily catch lower level fractal retraces. Exits also scale exponentially although inversely from min markup to a reasonably calculated dream markup that most of the time gets abandoned to a stop target to begin reentry to fuel the wheel...
by Benjamix