Do I have the jist of the wheel strategy?

I seems to me that the wheel is not the best trade in this enviroment. My experience is that I leave too much money on the table when I am right or I lose big when I am wrong. This is my opinion at this time.
Anybody experimented with selling DEEP IN THE MONEY covered calls with the intention to be called and just benefit from time erosion?

 

Ah I think I found a good fit for what I am looking for.

 

K, just in case anyone cares, after getting a closer look, I signed up for below. It's not a wheel strategy, but still income generating "methods" that can be thought of as (or combined into) the wheel.

https://www.great-option-trading-strategies.com/

 

Another one of “my guys” talking about dangers of the wheel. Skip to minute 34

 

Hello everybody!

Is "selling in the money calls" using SPY a relatively safe strategy?
Anyone is using it on a regular basis?
Any comments, ideas appreciated