Not too much to report this week as we simply allow our August positions to erode in value, which as options premium sellers is a good thing. We enter earnings season this week, so I fully expect to add several positions to the portfolio over the coming weeks. We currently have six open position with the intent of getting up between eight and 10.

Not too much to report this week as we simply allow our August positions to erode in value, which as options premium sellers is a good thing. We enter earnings season this week, so I fully expect to add several positions to the portfolio over the coming weeks. We currently have six open position with the intent of getting up between eight and 10.

Due to the holiday-shortened week I am going to keep it short today.

We added a new stock to the mix last week, the DKNG August 18, 2023, 22.5 puts. Our total now stands at six stocks, but I don’t plan on stopping there. This week I intend to add one more stock/ETF to the mix, but unlike our other positions, this position will be a short-term trade lasting roughly 30 to 60 days.

We sold put premium in PFE and (covered) call premium in GDX and KO last week. And with the market pulling back last week and out of a short-term overbought state, I intend to add even more premium to our plate. We will be adding one, if not two, positions to the mix.

Last week I stated my goal was to bring in total potential returns of roughly 10% to 12.5% per expiration cycle. By adding a few stocks/ETFs we should be able to reach that target.

The June 16, 2023 expiration cycle is finally behind us. Now we can focus on selling more premium in KO, GDX and PFE. All three have offered wonderful returns since being introduced to the Income Wheel Portfolio, and my guess is that they will continue to reside there for the foreseeable future.


As it stands, after the June 16, 2023 expiration cycle, our total return is 90.03%, or 7.5% per expiration cycle.

The June 16, 2023 expiration cycle is finally upon us and we have several positions due to expire. However, since we are using an income wheel approach, we will remain mechanical and allow our KO short put, GDX short and PFE 40 covered call to carry through expiration. Unless any drastic price action occurs prior to expiration, I will look to sell more options premium in each of the aforementioned stocks at the onset of next week.

Other than handling a few trades at expiration, nothing has changed: I continue to search for positions to add to the mix. I would love to see a pullback, preferably a close of the numerous price gaps below in the major indices, before placing a trade.

The June 16, 2023 expiration cycle is nearing and we have several positions due to expire. While I intend, as always, to stay mechanical and allow our KO and GDX puts positions to play out, I do plan on buying back our PFE 40 calls this week and immediately selling more call premium.

After locking in 10.8% in Wells Fargo (WFC) at the May 19, 2023, expiration cycle, we decided to sell more puts in WFC during the middle of last week. Since we are early in the trade in WFC, and thus there’s not much to discuss, there will be no comments on the current status of the trade below. Our total return since initiating the Income Trader service just under one year ago stands at 90.8%.

At the May 19, 2023 expiration cycle we were able to lock in 10.8% in Wells Fargo (WFC). Our total return since initiating the Income Trader service just under one year ago stands at 90.8%.


My goal this week is to start selling puts in WFC and potentially introduce one or two new positions by sticking with a similar strategy of selling puts. Otherwise, we will simply allow time decay to work its magic as we move closer to the June 16, 2023 expiration cycle.

As we head towards the end of the May expiration cycle we have two positions, BITO and WFC, that need to be rolled. Both positions have little to no premium left. As a result, I want to buy back our short premium positions, lock in profits and immediately sell more premium in both positions. Be on the lookout for a trade alert Monday or Tuesday.

Not much has changed since last week, other than that we are seven days closer to the May 19, 2023, expiration cycle coming to a close. Thankfully, our three remaining May positions all remain in good standing.

We locked in profits in both PFE and KO and immediately sold more premium just over a week ago and I will most likely do the same in our May 19, 2023 positions this week which should bring our total return to around 75%.

We are 18 days away from the May 19, 2023, expiration cycle coming to a close and the three remaining May positions all remain in good standing. Moreover, time decay continues to accelerate, which has already started to give us an opportunity to roll our positions in an attempt to collect more premium.

We locked in profits in both PFE and KO and immediately sold more premium last week and if all goes well this week, I intend to do the same with the remaining three May positions.

*Since we started the Income Trader service back in early June 2022, we’ve brought in a total of 69.14% in income. My hope is that we can step up our gains even further by adding as we progress through 2023.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

Cabot Options Institute Income Trader is focused exclusively on the creating consistent income through a variety of options selling strategies. Whether you have questions about selling puts, covered strangles, jade lizards or our income wheel approach, Andy is more than happy to help you steepen your learning curve in this live event.

WFC rallied over the past expiration cycle and as a result, our February 17, 2023, 45 calls were assigned, and our entire position was “called” away last week. We made 10.17% on the trade.

We allowed our February 17, 2023, 59 puts to expire worthless. As a result, per our Income Wheel guidelines, we will remain mechanical and sell more puts in KO today.

As part of the Income Wheel approach, we allowed our GDX puts to expire in the money at expiration last week. As a result, we were issued shares at our chosen put strike of 29.

We allowed our January 20, 2023, 60 puts to expire worthless. As a result, per our Income Wheel guidelines, we will remain mechanical and sell more puts in KO today.

As part of the Income Wheel approach, we allowed our Pfizer (PFE) puts to expire in the money at expiration last week. As a result, we were issued shares at our chosen put strike of 49.

GDX has rallied of late and, as a result, our January 20, 2023 26 puts are essentially worthless. That being said, I want to buy back our 26 puts, lock in a nice profit, and immediately sell more premium

As part of the Income Wheel approach, we allowed our Wells Fargo (WFC) puts to expire in the money at expiration last week. As a result, we were issued shares at our chosen put strike of 44. So far, we’ve managed to lock in $3.47 worth of premium or 8.3%.

Our BITO 12 calls for the December 30, 2022, expiration cycle are essentially worthless. As a result, I want to buy back our BITO calls, lock in our premium and immediately sell more premium going out 32 days.

There is almost no premium left in our PFE December 16, 2022, 45 puts. As a result, I want to buy back the 45 puts and sell more premium in January.

As part of the Income Wheel approach, we allowed our GDX calls to expire in the money at expiration last week. As a result, our shares were “called” away at the price of 26, and we locked in 3.87% on the trade.

Our BITO 13.5 calls for the November 25, 2022, expiration cycle are essentially worthless. As a result, I want to buy back our BITO calls, lock in our premium and immediately sell more premium.

In today’s trade alert I want to start out by selling puts in PFE with the intent of eventually wheeling into the position. Here is a quick review of the wheeling process.