I think best way is to do wheel on stocks you are familiar with (better yet trading). After searching, I found below resources that made sense to me: https://www.thebluecollarinvestor.com/ (basically IBD50) https://www.great-option-trading-strategies.com/ (10 to 20 carefully selected stocks - don’t know which, waiting to be “invited” lol)
Let me tell you why I disagree with this. The money you can make by being long the stock can pale in comparison to the money you can make by being long the stock and selling premium against it. In another words sell premium at key areas that you want to be long the stock. You WANT to get assigned at these key areas.
I don’t know man, this is very arguable in the current market environment. I think this depends on which game you are playing. If you are trying swing trade the stock, then yes, but it’s not a pure wheel strategy imho. Sometimes I sell puts on stocks that I don’t really want to get assigned, but I am prepared to deal with it if I do. In other words, I just want to capture the premium and move on. I think we are getting into finer details, which is a great discussion. btw, I am unable to sign up for your presentation at the moment. Let us know when we can please.
I am having difficult time finding a good service trading “the wheel” It looks like this guy does it with the set of stocks (momo) and durations(short) which fit me best. Any comments welcome.