The "daily Call" From Option Alpha: Options Trading | Stock Options | Stock Trading | Trading Online

Hey everyone. This is Kirk here again at Option Alpha and welcome back to the daily call. Today, we're going to be talking about the wheel options trading strategy for beginners. Now, the wheel strategy is a really unique option strategy that you can use if you're just getting started in options trading and you’re not quite comfortable trading a lot of risk defined spreads or iron butterflies, iron condors, etcetera and you just want to kind of stick to some basic premise strategy that you can use. Now, the wheel strategy is something that we’ve talked about in-depth on one of our weekly podcast where we actually interviewed one of our long time members and fellow trader, MACDDaddy on show number 107, so if you want to jump over to the weekly show, you can hit up show number 107 and hear my interview with him. He’s been trading the wheel strategy for a really long time and put together some great resources for you that you can use. The basic premise of a wheel strategy is the following and it's made to sound