Best Stocks For Wheel Strategy 2021

all right welcome to coffee with marcus this is episode 142 and today we're going to talk about where is it here we're trading about talking about trading the options wheel strategy in particular the best stocks for the wheeled strategy and i'll show you many examples because picking the right stock is absolutely essential for the real strategy especially when you have a week like this i mean has this been a crazy week or what absolutely so anyhow stick around and let's get started this show is about real money and real trades i'll show you the trading strategies that i personally trade the tools that i use to trade my own accounts and we will talk about the right mindset of a trader now talking about mindset i'm going to show you how to create src profits and src stands for systematic repeatable and consistent because that is the key to long-term success in the market so if you are sick of all the hive and empty promises and you want to learn trading strategies actually work then click on like right now and let's get started all right what a day what a day i mean what a week so let's talk about this and today we're going to talk about let me share my desktop here uh before we talk about the examples how to find the best stocks for the wheel now if you're new to the channel let's actually talk about the wheel options trading strategy uh for just a moment and uh what that is how it works and why it is so critical to have the absolute best stocks so i'm turning this into heading two and here is how it works there's actually three steps to this and step number one is that you are selling puts uh so selling put options and you collect premium so then if if the stock closes below uh the strike price that you sold you are getting assigned so you may or may not get assigned now if you're not getting assigned you're going back to step number one super easy and you're selling more puts and collect more premium however if you're getting assigned if assigned then you sell calls and collect more premium okay so this is the basic premise of the strategy and i see that i very randomly uh capitalize and uh not capitalize it so let's just make sure that this is all cool because i will make these notes available for you so when we are selling put options and collecting premium this is when we can often get blinded by the premium and i'll show you some very very specific examples so this is why it is absolutely important important okay you have to select the right stocks for the strategy so let's write this down and then i will give you multiple examples so important uh there we go you must select the right stocks and this is why i say the best stocks okay for this strategy because you might get assigned because let me just write it down you might get assigned and then here's what happens then when you're getting assigned you own not one kind of won the stock you own the stock at the strike price that you sold so let me first show you the trades that i am in right now so i want to show you this my trades and also how much money i made or lost this week does that sound good so and then we will talk about how to find the best ones but let's uh just start here because it might give you an idea of what i am looking for when i am looking for the best stocks for the wheel strategy so i want to jump over here into my account and in my account you see right now that we have apple gdxj right riot and snap so there's five stocks right now now you might also see oh my gosh there is some red there's some red there's some green and this is why i want to dissect uh all of these trades with you because i think it is important that you understand the wheel option strategy so we're going to start with apple so apple i sold the 133 put and i collected premium for this i can look it up but it doesn't really matter right now how much it is we can take a look at this because this is uh i just had a a great conversation with somebody and he called it the dead soldier because i was assigned so i own apple at 133 and if you look at the chart right now you will see that oh my gosh this is actually one of the stocks that is underwater because right now i cannot sell calls because let's talk about this here if a sign you sell calls and collect more premium and this is the important thing if possible and here's what it means by if possible if possible means that i can collect enough premium that i'm making at least 30 annualized so this is my criteria and your criteria here might be different okay so i got assigned apple and i have not been able this week to sell any calls and as you can see on this position right now i'm down 9 300 now keep in mind and this is why i want to come back to this i want to plot at 133 and my open super important open p l right now it is underwater is a negative of let's say around 10 000 now please keep in mind please keep in mind i'm trading a 250 000 cash account which is 500 000 in buying power so if i'm losing 10 000 on an account with 500 000 buying power how much is that in percent right so this is where we're using our handy-dandy calculator and we're taking the 10 000 divided by the buying power of 500 000 and so i'm down two percent okay so this right now is a two percent loss for me and the super important thing this is a so-called open profit and loss so this means only if i would sell apple right now i would realize this loss which i'm not planning to do because i'm planning to sell calls against it however this is uh again the dead soldier i really like this expression here or as one of our mastermind members said teresa said it apple right now is like the boyfriend who is sitting on your couch playing xbox all day instead of going out and trying to get a job right and earn some money anyhow you get the idea here so this is where apple right now is my my dead soldier or uh the the boyfriend i like this also the boyfriend on the couch is this how you spell couch no probably with the you right uh who is not making any money and that is okay and i'll show you in a moment why that is because let's talk about the second trade that i have and here's the deal because this year is called the best stocks for the wheel i do not mind owning apple at all now temporarily i'm down on this stock now do i believe that apple has actually a pretty good chance to uh go up to 133 absolutely i mean if we are looking at the apple chart here i want to remove this for a moment and we just look back here over the past uh let's just look back over the past year so this here is uh actually you know what uh let's actually jump to the to my handy and the ipad because then i can use my pen and show you exactly what i'm seeing so here's what i want to do i'm on the ipad right now and i want to basically zoom out for a year so that we see what happened since last year and um let me see if i can get rid of this one there we go and uh so again this is why it is super important do i want to own the stock this is what happened a year ago this was february then we have marched it and we had all the covet stuff hitting it after this apple soared to new all-time highs which was uh probably somewhere here around september and ever since has been trading between i want to say this probably 108 and as high as 144. so between 108 and 144 now do i believe that apple has the potential to go up to 144 absolutely and if i wouldn't believe this i wouldn't trade the stock somebody says why is this not a clear image it should be uh let me just make sure let me ask my team do we see a clear image here or is it somewhat a little bit blurry it should be a very clear image at least i hope this is what i was planning to do okay uh good so this is where we go back to if i share this the rule number one of the wheel club don't sell puts on stocks that you don't want to own i believe that apple can go up to 144 now i also believe that apple can potentially go down to 108 and if this happens if it goes down to 108 i will fly a so-called rescue mission and what do i do then a rescue mission means that i'm selling more puts sell more puts and so this means that i would own more apple stock at 108 and this is such an important concept that i decided to dedicate a coffee with marcus to it so i will show you on monday in the next coffee with marcus of how exactly i'm planning to do this and what this does because i think it is important that when you are trading the wheel that you know how to fly rescue missions because every now and then they might happen so i'll show this to you in the next coffee with marcus but today let's first stay focused on finding the best stocks for this okay so going back here to the first rule of the wheel club don't sell puts on stocks that you don't want to own so let's talk about the next one gtxj is the next stock that i have and with 3dx j i sold the 48 put and with gtxj now i own gdxj at 48 because it closed below my put again if you're not familiar i'm just giving you here the highlights of the strategy if you would like to learn more about the strategy i'll leave a link in the description i have a whole playlist for you so if you are interested in this take a look at that because i also want to show you of what happened here so apple did not make any money this week now gtxj on the other hand i own gdxj and therefore i can move on to step number three off the wheel and this is where on monday on monday i sold the 48 call again remember this is if assigned then you sell calls and collect more premium if possible so this was possible i'll sold the 48 call and i'm going to show you exactly how much money i made there so i sold um 21 uh calls for 70 cents and yesterday i bought them back for seven cents so 70 minus 7 is 63. i can do this without my calculator so um i sold 21 times the 48 call and made 63 dollars this week from monday until yesterday so uh let's just now use the handy dandy calculator and say how much is that in profit and then we talk about gdxj of why i like the idea of gtxj times 63. so this is a 12 323 so 1323 dollars in profits that i realized so now i don't have any calls there so therefore on monday i can sell more calls but uh just want to highlight this here in let's do this in green why not so that we know what's happening so let's talk about gdxj what the heck is gdxj and why do i like this so gdxj is an index of the gold miners and gdxj is highly correlated to gold so let me just uh add here gold as a comparison and we're looking at the gold futures so i can add it here as a comparison symbol and uh there we go you see that uh actually as gold goes up so does the index of the gold miners as gold goes down so does the index of the gold miners so gold right now is probably at a nine month low but in the long term i believe that gold is a safe haven so especially when the market is going down usually gold is going up now right now there's a different focus the focus is on the yield and bonds but i overall still am bullish on gold and therefore i'm also on the gold miner so this is why i don't mind owning the gold miners at 48 because there's some good premium in this that can be sold in fact on monday i'm planning to sell more calls maybe i'll do it here in a little bit um anyhow so peter says if you close dx early why didn't you sell a new call for the next week immediately because i didn't get enough premium and this is where it's so important it's a great question peter so i collect more premium if possible and for me my criteria is i want to have more than 30 uh per year or an annualized premium okay annualized premium so that's what i want to achieve here and this i was able thus far for this year make a little bit over 46 000 in just two months so it's not too bad i think i'm doing quite well here so it didn't meet my criteria i rather wait another day and we can we might be able to sell one together here in just a moment but i want to show you the other stocks and so again do i like owning gtxj uh at this price absolutely do i right now lose a little bit of money on the stock yes but again based on my account size how much am i losing on the stock one percent losing around five thousand dollars and this is an open p l so i would only lose it if i would close this position right now which i'm not planning to do because i am following the wheel strategy where i'm selling more calls okay is this making sense thus far at all is this helpful if it is do me a favor click on like really quick because i see here in my counter how many likes we are getting and then i know that this helpful and i will continue walking through this but i don't want to bore you with my trades if you uh don't find this helpful at all so do me a favor and click on like really quick uh if i see that the likes are jumping up will keep going why not okay uh so let's talk about the next one so the next one here is right so let's talk about right which is the next stock that i own right and right is actually an electric car maker and this is where i sold the 2150 put and this year where right now i own a ride at 21.50 now you might say that's probably not a good idea and you're right if you're looking at right here right now you see that right is down to 16 like we can get rid of gold here so i marked the strike price that i got assigned at and right now as you can see i'm underwater on the stock but let's talk about before we talk about the stock here and why i think that this was a good stock here and then can we talk about the best stocks and how you can find the best stocks and be really really picky in your selection criteria so that you can make money with the strategy because ultimately that's what it's all about i mean we're here you're watching me not because you're bored out of your mind maybe you are but probably because you want to have some more tips and tricks on how to make money and this channel is all about real money and real trade so therefore i'm showing you my real trades here so let me show you what i did with ride this week and so for ride i sold the 2250 call again after i owned the stock so here uh this is what i did on monday on monday i sold the uh 2250 call and i sold 47 of them i sold 47 of them and uh let's just see at what price and the price that i sold it for was 30 cents right here at 30 cents so um and this is and this is where i made let's uh just bring up my handy-dandy calculator uh so i made 30 cents per contract and i sold 47 okay so it's 47 times 30. let's bring it up here 47 it's time 30. so on this one i made 1 410 in profits okay so 1410 in profits now i will keep all the premium and this will not get called away if right today uh closes uh below 22.50 and uh let's just double check but do you think in the next 10 minutes that ride will go above 22.50 probably not right so yeah i will keep all of the premium so this is what i made in profits there now um again i am down on this and so we'll talk about it why do i like right well right is one of the companies like there are other electric car makers that are about to produce cars so they are not there uh with neo and tesla yet neo and tesla they are already producing cars but they are about to produce cars and this is where i want to just overlay this with tesla so that you see that they are like an electric car maker okay so here's tesla the orange line went up up up up made a triple top look at this top top top and is right now going down so this week tesla same as ride is not everybody's darling but we know the story of tesla don't we and we can also take a look at this here if you look at neo and compare neo the other electric car maker to this and we see neo very very similar up above went down went up so i made a triple top top top top and went down here but overall i mean i don't know about you but i like electric cars i mean there's so many initiatives going on allowed around electric cars so this is why i don't mind owning ride and selling calls against it do i believe that right can go back up to uh these levels up here to 30 absolutely absolutely is this going to have to happen today no it does not right but that's fine i don't own i don't mind owning right and this is why it's so important we're going back to rule number one of the wheel club don't sell puts on stocks that you don't want to own i want to own right now i wanted to own it at 21.50 did i want right to go down 1650 no but i don't mind because i believe that right will turn around but let's take a look at the next two stocks that i have here riot couldn't resist a pretty aggressive trade so i took it with half of position not as much as i usually trade but i thought you know what riot uh cryptocurrencies here let's just take a look at the chart um and i sold the 2750 so i mean super conservative so this is here the uh 2750 put so uh sold a strike price of 27.50 so if um if riot stays above 27.50 for the next few minutes for the next 10 minutes then i can collect the whole premium and so riot is uh is basically uh going very similar to bitcoin let me overlaid with bitcoin so uh we're overlaying bitcoin btc um usd let's uh let's just grab this one look at this somebody's at the front door what do you know i'm not going to answer right now so this is where you see bitcoin here going up then going down going up and we can take a look at bitcoin here uh let's see i have it right here this might be a little bit easier to see so as you can see it looks very very similar like riot so right now would i be okay owning bitcoin uh let us get rid of the overly here for a moment um how do i get rid of this it's all live it's all good i get better at this every single day don't i there we go um but you see uh this is the equivalent of bitcoin dropping down to probably 35 000 or 32 000 would i mind owning bitcoin at this level no because i believe in the long run that bitcoin might actually go like many say uh to um to a hundred thousand so this is why i did riot and let me show you exactly of what i did here so on riot i sold the 2750 foot same as here this is uh the put and i did that for i sold how many of these let me just quickly double check i don't think i did that many yeah i just did 18 and i did it at 14 so 18 times um and made 14 on each contract so it's not a whole lot here because again i consider this a fairly aggressive trade uh but let's bring up our handy-dandy calculator and see what happened so 18 times 14 so that's uh really 252 dollars i thought it what was more okay uh so 250 dollars in profit but i think i did that yesterday did i do it yesterday i think so not quite sure so in two days i'll take it i'll take it i'm okay with this now let's talk about the last trait here and again i told you why i wouldn't uh mind owning riot and uh so now we talk about the last one and the last one is snap and i want to go back to blue because i have ocd tendencies and again i'll be happy to make these notes available to you if you're interested my team can probably leave a comment somehow in the description here or maybe in the chat of letting you know of how you can get hold of these notes if you're interested in them i mean if you don't want them that's okay but if you think they're cool and help you uh compare notes uh feel free to grab them there is somehow magically a possibility because every day i give them to kevin one of my team members and say make them pretty okay so let's talk about snap here and what happened i sold the uh let's see what did i do with snap i sold the 52 put and i sold 19 of them so sold uh 19 of the 52 put so if right now snap stays above 52 uh we're good and we're not getting assigned where do i snap right here and as you can see right now it's trading at 57 so the strike price was 52 so we're fine we'll probably keep the whole premium and i sold this i sold 19 of these for 16 cents okay so this would be uh and made 14 per contract so this would be a total of where is my handy-dandy calculator um 19 times 14 yeah 266. i think i also did this yesterday i thought i sold more okay anyhow so it's 266 dollars in profits so let's see where do we stand for the week because that's the important thing and then i'll show you some examples of stocks that i don't want to own and stocks that i do want to own and uh here so total profit and this is the realized so this is uh this year realized profit for the week and this is where we have to add it all up so let's see if we can do this where is my handy-dandy calculator we have the 266 plus 255 plus 1410 plus 1323 so that is here so thus far this week i made well the week is pretty much over we will hear the ding ding ding of the closing bell in just a moment so here i realized uh three thousand two hundred and fifty four dollars uh so this is in profits now here's my plan and uh let's just compare where i stand here with my plan and again then we're trying to talk about of why these stocks are good and which stocks are not good so um my plan gosh darn it there we go okay my plan is to make a fifteen thousand dollars per month and if i take these fifteen thousand dollars per month uh this means that i want to make uh what is it seven thousand three thousand seven hundred fifty three thousand five hundred three thousand five hundred per week okay because times four weeks that would be fifteen thousand and i'm simplifying it here but you get the idea so uh my plan is to make three thousand five hundred per week so that i can make fifteen thousand dollars per month i am uh 250 shy of my goal here but that is okay because overall i have achieved my goal and this is where it's very important that you look at the realized profit and the realized profit thus far for the year is uh 49 000 so uh based on the uh 500 000 margin uh or buying power it would be around 10 uh based on the cash that i put in the account it would be around 250 000 they might say oh my gosh what about this this unrealized p l unrealized p l and i'm not worried about that at all because as you can see even those stocks that are right now down under besides apple who is the lazy boyfriend on the couch right and so it's it's okay if one stock does not make any money so uh but let's not talk about the best stock so we ding have snap ding there's the bell uh this is right now realized profits and this is again super important that you understand the difference between realized profits and unrealized profits so we are doing good thus far so let's take a look at some stocks that are good and some that are not so good so how do you find the very best stocks now first of all i want to make sure that i have my minimum requirements and my minimum requirements is that i want to make at least 30 per year so this is where i'm using my tool the power x optimizer uh that actually shows me all of the options that right now give me at least 30 per year and one of the stocks that popped up today is alpha so the question is do we want to own alpha at the strike price honestly i don't even know what these guys are doing so alpha seems to be a little bit all over the place and this when if you look at my account if you look at my account and you look at all the stocks that i traded apple amd dropbox uh this is the brazilian etf gtxj the gold miners haliburton hasbro uh toys right ibm uh this is nordstrom lumber liquidator monster drink dc these are all known stocks so first rule for me and this is where we go to come full circle okay so how to find or what are let's say what are the best stocks the best stocks for the wheel strategy there we go and uh first of all so the first criteria is i must want to own that stock and and for me in order to if i want to own the stock means for me i must know the stock i must know what what the what the heck are these guys doing right uh so uh and even more importantly i must know the story so what is the story of apple well we all know this right i mean apple sells phone computers uh watches tablets all sorts of cool stuff and they are doing really well because they've been doing it for many many years and they don't have too many competitors they do have the market share it is established and therefore i believe it is super solid company gdxj are the gold miners i know this right i know what these guys are doing i know that ryde is an electric car manufacturer that has a hundred thousand pre-orders for the truck that they are producing this year i believe that they are producing it in arizona not quite sure got a little bit confused here i would have to look it up riot is basically an uh a stock that mirrors cryptocurrencies and i do believe that cryptocurrencies might go higher and snap we all know snapchat so uh snapchat my kids are using snapchat this is where they they live on snapchat so i don't think that snapchat is going away and uh so i i must know the story and uh also very important for me the story must make sense so this is where some bad examples let me give you some some bad examples somebody is at the front door unbelievable they'll come back i'm pretty sure uh so for example a stock that always comes up is peloton politon for me is a bad example do i want to own skeleton no here's why i do believe that peloton did really really well uh during the pandemic because everybody was staying at home and they have these cool bikes and uh let's just get rid of these and zoom out a little bit and you see that they were soaring during the pandemic i mean they come from what fifteen dollars and went to a hundred fifty dollars in less than a year fifteen to a hundred fifty dollars now however what is the business model well they make bikes really expensive ones i think they said that they are releasing a cheap bike right now for two thousand dollars and uh you have a personal trainer built in for me it's super easy to rip off i don't know if you can patent it uh and if a company like beauflex who has been doing uh exercise equipment for a long long time wash wind who has been doing uh exercise bicycles or some others decide to take these guys on i believe that they can right so this is why i uh i don't want to own the stock uh same with uh what popped up here alpha i don't even know uh what what apha does um so therefore no thank you uh snow is another one bad example so pelican okay uh story so to me uh let's go back uh sorry to my desktop so story doesn't make sense again to me might make sense to you this is where it gets subjective because you must want to own the stock and maybe you have way more insight on pelican and say you know what i believe that they will remain the only company who is producing these and that is all fine but the story doesn't make sense to me i think that they can easily be ripped off uh what was the other one that we were looking at right now uh so the other one was snow snowflake i mean this company doesn't make sense to me i still don't understand what they're doing it was probably the most hyped ipo of the year the most hyped ipo of the year so it started at 240 went up all the way to 320 and has been all over the place and as you can see right now they are trading pretty much below they're trading below their ipo the first uh opening price on the ipo so i don't know and again for you it might be different for me snow okay it's absolutely overhyped it's overhyped but again this is where it must make sense to me the story must make sense to me and it doesn't so this is why it's so important that you are willing to own the stock now here is another thing okay there must be premium to sell there must be premium to sell right so to collect let's say this to collect on the call side so let's take a look at gdxj so gtxj and uh i'm looking at this here right now i want to see is there right now it's trading at 45.61 and markets are closed but we can see are there is there some premium in the 48 strike and you see right now the last traded price last trade price was 37. so this is where i like to use my tool the powerx optimizer and see okay so does it make sense for me uh on monday to possibly sell gdxj again i bought the stock at 48. 2100 shares the strike price that i want to sell is 48. right now it is trading at 37. okay with an expiration of march 12th and you see for me my criteria is it must make me more than 35 and it does so therefore i am okay selling it now if i'm selling it i will collect 777 dollars in premium uh which is not bad at all because keep in mind what is my goal my goal is 3 500 per week and this is on five positions so this basically means that each position each position needs to generate 700 because 700 times five is what 3500 i sure hope it is is it shall we use the handy-dandy calculator see that's a cool thing uh you you don't need to actually be good at math so uh let's see if you take 3500 and divide it by five whoo it's 700. so we got lucky so here if i see that uh gdxj actually next week can make me 777 so i'm good there that's not bad at all okay maybe it pops a little bit higher on monday we don't know maybe on monday i can get 45 cents cool so is this something that i should have sold today because i could have sold it today for 37 and it would have made me some nice premium yes i should have done it why didn't i do it because last night was a super weird night and last night i only slept 30 minutes literally i'm not exaggerating and i'm not lying i slept 30 minutes so today i wasn't my best now here's the cool thing even though i'm not at my best still made 3 254 this week i'll take it okay anyhow anyhow uh so i know that there's a few questions that were coming in and i want to make sure that i answer some of them and i i know that i went a little bit longer here with the teaching part but i think it is so important because honestly the number one mistake that i see traders making with the wheel strategy is that they are picking the wrong stock so this is so important because you might get assigned and if you're getting assigned you must know this so this is a key part of this strategy and this is why it was really important for me to go through several examples here so i mean it's up to you if you're okay with this we might go a little bit longer today so that i can answer uh some of your questions here because i think they are really really good questions so uh let's see um i have a few here uh that i that i saw earlier coming in so i might not be able to answer all of the question so uh keith says i hear lately i can't find good stock i want to own for the c pre for the real strategy thus have been chasing premium well that's not good you see this is where honestly stay picky if you don't find any stock and i honestly i must say a little bit surprised keith because if we go back here and we look this week there were so many stocks coming up here really out of all these stocks oops let me just uh let me see that i can come back here on the screen well i wanted to share oh no there we go see my desktop you see out of all these uh alpha bbby bed bath and beyond delta moderna neo pen pltr plug riot snow spot which spotify there's nothing i mean yesterday yesterday i saw two that really intrigued me one was one of them was x which is u.s steel and pen here i think pen is probably also a pretty good one let's take a look at this um i mean pen let's bring it up so here penn uh with the strike price of uh what was the suggested strike price 90. uh look at this i mean pen you're not okay owning pen at 90. um i think that's super solid penn national gaming i mean gaming obviously has been taking off uh since we don't have uh live sports right now so online gaming and gambling has been taking off las vegas is still closed so uh look at this stock is this something that you would want to own at 90 possibly right i mean i didn't trade it as you can see um but anyhow good question i do believe that there's enough uh on the stock here okay so marina says uh good to be here today will has been great the last 10 months and continues i mean it has been great for me this week and if it see if it has not been great for this week you're focusing on the wrong thing because this is when you're focusing on the unrealized p l and the unrealized p l is ugly i mean right now if you look at this the unrealized p l for me is thirty four thousand dollars almost thirty five thousand dollars that's not nice but i'm focusing on the realized p l because the unrealized piano is subject to change every single day i mean it goes up and down and goes up and down this here this is the stuff that is important and realized it's 49 000. i would only realize this if right now i'd close all positions which i'm not intending to do and you see i still have plenty of buying power left plenty of buying power left and today there will be buying power freed up because riot and snap just expired worthless so there's an additional what 50 uh 65 thousand dollars that will be released so i'll have a hundred fifty thousand dollars in buying power going into next week that's that's fantastic that's fantastic okay so jk says do you go through the motion of the wheel regardless of whether the market is trending up or down great great great question here's the deal in general you want to sell calls when the market is up when the market is up you want to sell calls when the market is going down you want to sell puts and here's why because you're making more money when the market is going up on the calls and you'll make more money on the puts when the market is going down and i know that can be super scary this is where i say i don't want to sell puts on a falling stock but that's how the wheel works so this roll of thumb here but uh gk great question okay uh joe says i'm expecting to be assigned a car a couple of calls today at the close but have confidence in market strategy i hope this is why we are doing it together here right i mean you're not alone i hope that you see it uh so we are here in coffee with marcus together i know for those of you who are part of the mastermind we are trading live together at least three times a week next week we are trading together four times a week so but that's that's a different story but i just want to show you um yes my account right now looks ugly but you see this year to me to me it doesn't matter it might freak you out but again on a 500 000 account i mean this is not even down 10 this down watch like not even 8 7 and a half percent so i'm down seven and a half percent on five hundred thousand dollar buying power i i think this week people lost more money and again this unrealized p l i'm always looking at the realized p l here anyhow good question and uh let's see so dr says i panicked today and rolled all my positions you can do that i'm not a big fan of rolling see right now i just let them expire and then establish new ones okay vitre says once uh i assign the stock and the current price is way less then i'm assigning there's no premium to receive to sell the call what do you do that's what we're going to do on monday in the next coffee with marcus so make sure that you're subscribing to this channel and hit the little notification bell because this way you get notified whenever i go live or release a new video and i promise this is exactly what we will cover in the next coffee with marcus what do you do if you have like me the lazy boyfriend apple and it hasn't been earning any money this week what do we do with it next week so we're doing this okay so john says what about selling another put before expiration if the stock is way below the strike price is actually bringing your cost basis down similar to your tqqq trade john again monday i promise we don't have enough time right now to get into this because i want to be respectful of your time and i'm doing another live video in 45 minutes from now so i need to get ready for this and in this video i talk about what happened here in the markets today but cool coco okay so drew says when will the wheel will strategy book be ready for us to order can we pre-order it and get the pdf version first we are looking into this the wheeled strategy book will be available on april 9th as a hard copy so um here is i have so many books right now here's the hard copy so it will be available on april 9th as soon as we have this availa available for pre-order uh we'll make it available for you right now if you want to get on the list uh it's rockwelltrading.com wheelbook um nicole will post it here in the chat uh so rockwelltrading.comwheelbook this is not a pre-order it is just you're putting your name on my email list so that i can send you an email when we are ready to take pre-orders by the way super super excited about this uh we now have the parex strategy in spanish so this right now is available on amazon so if you are a spanish speaker and this is not the wheel we are working on a spanish translation for the wheel this will be available pretty soon too but if you like the uh the book the power x strategy and you always wanted to have it in spanish i believe nicole since today it is available on amazon so check it out um i had a market there because i had something corrected and we corrected it and today it's available on amazon we also have the portuguese version so if you are a portuguese speaker and would like to have this book it is available on amazon as well and i hope that nicole confirms it and uh just go to amazon.com or amazon.br for brazil i believe or amazon.es for espana or what is it mx for mexico anyhow good good good so um let's see so rm says i really appreciate that you show both the good and the bad and be honest about it i mean i have nothing to hide here i am a real trader these are real trades and weeks like this week are part of our lives as traders and i hope that it helps you if i'm showing you what is happening in my account and again everything is a little bit amplified because my account might be larger than yours not quite sure you might trade a large account so i hope that it helps you that you see oh my gosh once you start trading a 250 or 500 000 account or a million dollar account yes it can happen that in a single day you might lose 10 000 unrealized unrealized i haven't lost yet if you if you look at this uh this is where you see all of the trades that i did thus far not a single trade this year not a single trade has been a losing trade right here see all of these trades have been winning trades when i closed them out now some of them looked ugly like this while they were still open but then they came back because what do we do we follow our plan all right good good good so rich is asking is the chart you're showing available to us uh the chart that i'm showing uh let me just show you this here is a trading view and you can go to rockwelltrading.com tradingview and this directs you to their website so yes these charts are available to you absolutely this is not a secret at all it's not a secret strategy this here is the powerx optimizer so if you're referring to this this is the tool that i use that i had programmed for myself and now make it available to the public uh super excited in a few weeks i believe in three weeks from now we will release a brand new version version 2.0 uh which is amazing i'm so excited about this i'll give you a sneak preview here probably in two weeks from now i'll let you know of what we are doing here anyhow it's super super cool all right good well i i hope that this will uh was helpful here for you and uh if it was do me a favor and share this video because there's many people who make mistakes and by making mistakes they lose money and again especially when you're trading the wheel strategy it is super important that you know what stocks you should choose for the wheel strategy and i hope that after today it became a little bit more clear to you uh this is why i have my criteria here and again i'll make these uh these notes available to you if you want to so that you can refer to them and hopefully it helps you to make better trading decisions anyhow have a great rest of your day and i will see you in the next coffee with marcus make sure to subscribe to this channel and talk to you very soon take care

Channel: Markus Heitkoetter

Views: 24,842

Rating: 4.964746 out of 5

Keywords: Best Stocks For Wheel Strategy 2021, Coffee With Markus, Rockwell Trading, Options Trading, Options Trading For Beginners, best stocks for wheel options strategy, wheel strategy for options trading, wheel strategy options explained, options wheel strategy, the wheel strategy, the wheel strategy options, Wheel options strategy, How do I find stocks for the wheel strategy, wheel strategy, selling put options strategy, best stocks for wheel strategy, wheel strategy options

Id: nHkZNLR2P2Y

Length: 50min 56sec (3056 seconds)

Published: Fri Mar 05 2021