Welcome to Hansβ Theta Wheel Warriors. This website is dedicated to option sellers in the US financial markets. Selling options is an art form much more so than a science, and it requires uncommon thinking and structured execution.
The following content is currently available, with more being added soon. The links in red (Options 101, Who Am I) are publicly available, while the rest require free registration.
By registering, you will receive updates when new content is added, as well as the introduction of new tiers next month.
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Selling options allows you to create a de facto insurance business without being regulated by the insurance commissioner and with a lot more freedom who, what, and when and to what degree you want to insure others. Additionally, while insurance companies are limited to selling put options, i.e. selling policies against certain perils, an option seller has access to an additional revenue stream by also selling call options.
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Sell Cash-Secured Puts (CSP): You sell a "put" option on a stock you are willing to own. You receive an upfront payment (premium). If the stock price stays above your chosen "strike price," you keep the money and repeat this step.
Get "Assigned" (Buy the Stock): If the stock price falls below your strike price, you are "assigned" and must buy 100 shares of the stock. You still keep the original premium, which effectively lowers your purchase price.
Sell Covered Calls (CC): Now that you own the shares, you sell "call" options against them. You collect more premiums while waiting for the stock to rise. If the stock price goes above the call's strike price, your shares are sold at a profit, and you return to Step 1.