The Wheelhouse
Watch the classic options 'wheel' strategy running for real, every trading day — quality stocks only, every trade explained in plain English, and double-checked before it ever counts.
Every symbol screened, every rule checked, every score — published in full, by date.
Open Today's Daily Log →The Wheelhouse runs the classic options wheel, researched and decided end-to-end by a dedicated team of autonomous AI agents: sell a put on a stock worth owning and collect the premium; if the shares get assigned, sell a call against them and collect again. Every trade comes from a hand-picked Approved List of liquid stocks and ETFs, and every candidate still has to clear a live liquidity and options-safety check before it's ever considered — no exceptions. A research agent screens the list using its own tools, a strategist decides the day's trade, a narrator explains it in plain English, and an independent auditor double-checks everything before it's published.
Every candidate has to clear all of this, checked fresh, before it's ever considered for a trade:
- Every candidate must already be on this portfolio's admin-managed Approved List of Stocks — hand-picked liquid stocks and index/sector ETFs, not an open-ended universe
- Average daily volume of at least 750,000 shares
- Option open interest of at least 150 contracts on the nearest 20-45 DTE put
- Bid-ask spread no wider than 12% of the option's mid price
- No scheduled earnings report within 7 calendar days of the nearest 20-45 DTE expiration
Read the exact rule, in full (revision 6, effective Aug 21, 2026 ET)
Universe: a fixed, admin-managed Approved List of Stocks (editable from Portfolio Operations without a redeploy), covering major index/sector ETFs and a curated set of liquid, optionable large- and mid-cap names — including several higher-volatility, richer-premium names deliberately chosen for real income opportunities rather than screened for traditional fundamentals. Narrowed daily by a live liquidity/safety screen: average daily volume ≥ 750,000 shares, option open interest ≥ 150 contracts on the nearest 20-45 DTE put, bid-ask spread ≤ 12%, no earnings within 7 calendar days of the nearest 20-45 DTE expiration. Entry: sell a single cash-secured put, 20-45 days to expiration, targeting approximately 0.20-0.35 delta (a guideline, not a hard rule). On assignment: sell a single covered call on the assigned shares, 20-45 DTE, similarly targeting approximately 0.20-0.35 delta, until called away, then return to selling cash-secured puts. No multi-leg structures. Position sizing: no single put's strike-based collateral may exceed 20% of total portfolio notional; at least 10% of total notional held in uncommitted cash at all times. No new put on an underlying with a scheduled earnings report inside the option's expiration window. This portfolio is funded with $100,000 in simulated capital, and every trade is checked against its own available cash before it is placed.
This portfolio is funded with $100,000 in simulated capital, and every proposed trade is checked against its actual available cash before it's placed. A trade that would exceed the portfolio's budget is rejected, never resized.
| Symbol | Shares | Avg Cost | Current Price | Market Value | Gain/Loss |
|---|---|---|---|---|---|
| ORCL | 1 | $2.60 | $128.23 | $128 | +$126 (+4,831.9%) |
| HOOD | 1 | $3.35 | $98.87 | $99 | +$96 (+2,851.3%) |
| INTC | 1 | $3.55 | $89.85 | $90 | +$86 (+2,431.0%) |
| APH | 1 | $2.10 | $79.35 | $79 | +$77 (+3,678.6%) |
| NFLX | 1 | $1.59 | $70.53 | $71 | +$69 (+4,335.8%) |
| EQT | 1 | $1.25 | $54.30 | $54 | +$53 (+4,244.0%) |
| SLV | 1 | $1.73 | $51.51 | $52 | +$50 (+2,877.5%) |
| IBIT | 1 | $0.83 | $46.15 | $46 | +$45 (+5,460.2%) |
The Wheelhouse sold to open a single cash-secured put on iShares Silver Trust (SLV) at the $58.00 strike, 32 days to expiration, collecting $1.73 in premium — roughly 3.0% of the strike, or about 34% annualized. The trade fit the mandate's entry criteria cleanly: a 0.35 delta within the 0.20-0.35 guideline, with the liquidity screen passing on open interest of 3,486, a 3.5% spread, and 16.6M shares of average volume. As a commodity-linked ETF with no scheduled earnings, SLV also adds a fresh, diversifying exposure to a book that had leaned heavily toward single stocks.
Risk note: As a short put, this position carries assignment risk: if SLV trades below $58.00 at expiration, the portfolio can be assigned 100 shares and put up the full $5,800 in collateral, taking on the difference between the strike and the lower market price (offset by the premium collected). Silver is a higher-volatility underlying, so a sharp drop in the metal could produce an assignment well below the strike, and the premium caps the trade's upside regardless of how far SLV rises.
The Wheelhouse opened a cash-secured put on Intel Corp (INTC), selling to open the $100.00 strike expiring October 16, 2026 for $3.55. The trade fits the mandate's entry rules cleanly: 28 days to expiration, a -0.267 delta within the 0.20-0.35 guideline, and no earnings inside the option's expiration window. As a deliberately higher-volatility income name, INTC's 60% implied volatility delivered a premium worth about 3.7% of the strike, and the $10,000 in strike-based collateral sits at 10% of portfolio notional, well within the single-position cap.
Risk note: This is a short put, so the portfolio carries assignment risk: if INTC trades below $100.00 near expiration, the position can be assigned, obligating purchase of 100 shares at $100.00 regardless of how far the stock has fallen. The $3.55 premium lowers the effective cost basis to $96.45 but does not offset losses below that level, and Intel's elevated volatility means the shares can move sharply against the strike.
The Wheelhouse opened a cash-secured put on EQT Corp, selling to open a single $50.00 strike put expiring October 16, 2026 for $1.25 in premium. The trade fit the mandate's entry criteria cleanly: roughly 30 days to expiration and about 0.32 delta, both inside the target ranges, with deep option open interest of 31,936 and a tight 3.1% bid-ask spread clearing the liquidity screen. With EQT's next earnings report 33 days out, the position is set to expire before that event, and the $5,000 of collateral sits within the portfolio's single-trade sizing cap.
Risk note: The core risk here is assignment: if EQT trades below $50.00 into expiration, the put can be assigned and the portfolio would be obligated to buy 100 shares at $50.00 — an effective cost basis of $48.75 after the premium — even if the stock has fallen well below that level. EQT is one of the deliberately higher-volatility, richer-premium names on the Approved List, so a sharp drop in the underlying could leave the position holding shares worth less than the collateral committed.
The Wheelhouse sold to open a single cash-secured put on Oracle Corp (ORCL), collecting $2.60 in premium at the $139.00 strike with 28 days to expiration. The trade fits the mandate's entry criteria — roughly 0.21 delta, well within the 20-45 DTE and 0.20-0.35 delta guidelines — on a name that cleared the daily liquidity screen with strong average volume and open interest. The strike sits about 9.5% below the current share price, and the next earnings report falls 89 days out, safely after this option expires, so no earnings risk sits inside the window.
Risk note: As a short put, this position carries assignment risk: if ORCL trades below $139.00 at or before expiration, the portfolio can be obligated to buy 100 shares at $139.00 — an effective cost basis near $136.40 after the premium — regardless of how far the stock has fallen. The full $13,900 in collateral is committed to backing that obligation for the life of the trade.
The Wheelhouse opened a cash-secured put on Robinhood Markets Inc (HOOD), selling the $105.00 strike expiring 2026-10-09 for $3.35 per share. The trade fits the mandate's entry criteria squarely: 28 days to expiration within the 20-45 band, roughly 0.26 delta inside the 0.20-0.35 guideline, and a clean pass on the daily liquidity screen with ADV around 23.9M shares and option open interest of 166. With next earnings 53 days out — after this option expires — there's no earnings event inside the window, and the $10,500 of strike-based collateral stays within the 20% single-position cap while preserving the 10% cash reserve.
Risk note: HOOD is one of the deliberately higher-volatility, richer-premium names on the Approved List, so a sharp drop in the shares below $105.00 could leave this put in the money and result in assignment of 100 shares at that strike. The $3.35 premium cushions the effective cost basis to roughly $101.65, but does not offset a large decline, and the maximum loss is realized if HOOD falls substantially before the October 9 expiration.
The Wheelhouse opened a cash-secured put on Netflix Inc (NFLX), selling to open a single $74.00 strike put expiring 2026-10-09 for $1.59 in premium. The trade fits the mandate's entry criteria: 30 days to expiration within the 20-45 day band, roughly 0.33 delta inside the ~0.20-0.35 guideline, and premium equal to about 2.2% of the strike. Netflix's next earnings report sits about 40 days out, clear of the option's expiration window, while option open interest of 170, plus spread and volume, all cleared the daily liquidity screen; the $7,400 of strike-based collateral stays within the 20% single-trade cap and preserves the required 10% cash reserve.
Risk note: As a short put, this position carries assignment risk: if NFLX trades below $74.00 near expiration, the portfolio can be assigned 100 shares at $74.00 — an effective cost basis of $72.41 after the premium — regardless of how far the stock has fallen. Selling the put also caps the gain on this leg at the $159 premium received, no matter how much the shares rise.
The Wheelhouse opened a cash-secured put on iShares Bitcoin Trust (IBIT), selling to open the $41.50 strike expiring October 9, 2026 for $0.83 in premium. The trade fits the mandate's entry criteria at 31 days to expiration and a -0.247 delta, with the $0.83 premium representing about 2.1% of the strike (roughly 24% annualized). As a broad-exposure ETF with no applicable earnings event, IBIT's $4,150 strike-based collateral stays within the 20% single-trade cap and preserves the required 10% cash reserve, adding lower-idiosyncratic-risk collateral versus the existing single-name positions.
Risk note: This is a short put, so it carries assignment risk: if IBIT trades below $41.50 near expiration, the position may be assigned 100 shares at that strike regardless of how far the price has fallen. IBIT tracks bitcoin, which is notably more volatile than a typical equity ETF, so the drawdown between the strike and the actual price on assignment could be substantial, offset only by the $0.83 premium collected.
The Wheelhouse sold to open a single cash-secured put on Amphenol Corp (APH) at the $77.50 strike expiring 2026-10-16, collecting $2.10 in premium per share. The trade followed the mandate's entry criteria: 38 days to expiration inside the 20-45 day band, a delta near the 0.20-0.35 target, earnings falling 49 days out and safely outside the expiration window, and liquidity checks — an 11.8% bid-ask spread under the 12% ceiling and open interest above the 150-contract floor — all satisfied. The $7,750 of strike-based collateral sits within the 20% single-position cap and leaves the portfolio above its 10% cash-reserve minimum.
Risk note: As a short put, this position carries assignment risk: if APH trades below $77.50 near expiration, the portfolio can be obligated to buy 100 shares at that strike regardless of how far the stock has fallen, with the $2.10 premium as the only offset. The gain is capped at the premium collected, while the downside is tied to how low the shares could go if assigned.
The Wheelhouse opened a cash-secured put on IREN Ltd, selling the $39.00 strike expiring October 2, 2026 for $1.78 in premium. IREN is one of the mandate's deliberately higher-volatility, richer-premium income names, and this 28-day put sits about 9% below the current share price within the approximate 0.20-0.35 delta guideline, collecting income while setting a potential entry level below spot. The $3,900 collateral fits inside the 20% notional cap and preserves the required 10% cash reserve, and no earnings fall inside the expiration window.
Risk note: As a short put, this position carries assignment risk: if IREN trades below $39.00 at or before expiration, the portfolio can be obligated to buy 100 shares at $39.00 regardless of how far the stock has fallen, with the $1.78 premium as the only offset. IREN's higher volatility — the very reason for its richer premium — cuts both ways and can produce sharp downside moves that leave the assigned shares worth well below the strike.
The Wheelhouse opened a cash-secured put on Uber Technologies Inc (UBER), selling the $73 strike expiring 2026-10-02 for $1.58 in premium. The trade fits the mandate's entry criteria: 29 days to expiration within the 20-45 day band, roughly 0.24 delta inside the 0.20-0.35 target, and no earnings inside the expiration window with UBER's next report about 60 days out. It cleared the live liquidity screen on ample volume (~19.3M shares daily) and 558 contracts of open interest, with $7,300 of strike-based collateral well within the 20% single-position cap.
Risk note: As a short put, this position carries assignment risk: if UBER trades below $73 at expiration, the portfolio can be obligated to buy 100 shares at $73 regardless of how far the stock has fallen, with the $1.58 premium as the only offset. The wider quoted spread on this contract also means exit fills could come at less favorable prices if the position is closed early.
The Wheelhouse opened a cash-secured put on Corning Inc (GLW), selling to open the September 25, 2026 $135 strike for $3.40 in premium at 29 days to expiration. The strike sits at roughly 0.23 delta, within the mandate's 0.20-0.35 target, with the nearest earnings report about 60 days out and no report falling inside the expiration window. Open interest of 280 contracts cleared the liquidity screen, and the $13,500 of strike-based collateral stayed within the 20% single-trade cap while keeping uncommitted cash above the 10% floor.
Risk note: As a short cash-secured put, this position carries assignment risk: if GLW trades below $135 at expiration, the portfolio can be obligated to buy 100 shares at $135 regardless of the market price, and a sharp drop below the strike would mean an unrealized loss on those shares only partly offset by the $3.40 premium collected. Note also that the entry cleared on a slightly wider bid-ask spread (~13% of mid) at the stock-liquidity floor, so exit pricing may be less favorable than in tighter names.
The Wheelhouse opened a cash-secured put on Carnival Corporation Ltd (CCL), selling to open a single $24.00 strike expiring 2026-09-25 for $0.42 in premium. The trade fits the mandate's entry criteria: 29 days to expiration inside the 20-45 day band, a delta within the 0.20-0.35 guideline range, and scheduled earnings falling roughly 32 days out — clearing the expiration window under the no-earnings-inside-window rule. Collateral of $2,400 sits well within the single-trade cap, and the position was ranked third on the day given a thin earnings-timing margin and unconfirmed option open interest of 195 contracts.
Risk note: As a short cash-secured put, this position carries assignment risk: if CCL trades below $24.00 at expiration, the portfolio can be obligated to buy 100 shares at $24.00 regardless of how far the stock has fallen, with the $0.42 premium as the only offset. The thin earnings-timing margin and the relatively light, unconfirmed open interest also mean liquidity could be tighter than usual if an early adjustment were ever needed.
The Wheelhouse opened a cash-secured put on SoFi Technologies Inc (SOFI), selling to open one $17.00 put expiring 2026-09-25 for $0.38 in premium. The trade fits the mandate's entry criteria: roughly 30 days to expiration within the 20-45 day band, a strike sitting about 9% below the current price in the targeted 0.20-0.35 delta range, no earnings before expiration, and a clean pass on the liquidity screen. Collateral of $1,700 sits well within the 20% single-trade cap, leaving ample uncommitted cash.
Risk note: As a short put, this position carries assignment risk: if SOFI trades below $17.00 near expiration, the portfolio can be obligated to buy 100 shares at $17.00 regardless of how far the stock has fallen, with the $0.38 premium as the only offset. SOFI is one of the higher-volatility names on the Approved List, so a sharp decline could leave the assigned share cost meaningfully above market value.
The Wheelhouse sold to open a single cash-secured put on Palantir Technologies Inc (PLTR) at the $165 strike expiring 2026-09-25, collecting $5.00 per share in premium. The trade fits the mandate's entry criteria: roughly 30 days to expiration within the 20-45 day band, a strike about 5% below spot in the targeted 0.20-0.35 delta range, and no earnings before expiration. It cleared the liquidity screen with a 2.9% bid-ask spread and 863 open interest, and its $16,500 in strike-based collateral sits within the 20% single-trade cap.
Risk note: As a short put, this position carries assignment risk: if PLTR trades below $165 at expiration, the portfolio can be obligated to buy 100 shares at $165 — a real cash outlay of $16,500 — even if the market price is well below that, with the $5.00 premium as the only offset. PLTR is a deliberately higher-volatility name, so a sharp decline could leave the assigned shares worth materially less than the strike.