Manage Puts and Calls: The Wheel Strategy in Action
Build recurring income with The Wheel; manage trades at expiration using real examples and custom tracking tools
Manage Puts and Calls: The Wheel Strategy in Action free download
Build recurring income with The Wheel; manage trades at expiration using real examples and custom tracking tools
What if a trade doesn’t go the way you hoped?
This course helps you answer that question with skill and confidence—especially as your options contracts approach expiration.
You'll learn how to manage cash-secured puts and covered calls to generate recurring income, even when trades move against you. When you sell options backed by sufficient collateral (shares or cash), time decay works in your favor. The key is knowing how to manage your positions as expiration nears.
What You’ll Learn
How to roll, close, or let options expire—and how to decide which path is best
How to calculate annualized returns and compare choices across different expiration dates
How to track your trades with a custom spreadsheet (I’ll show you the formulas or direct you to a pre-built one)
How to factor in dividends, breakeven points, and extrinsic vs. intrinsic value when adjusting a position
How to earn recurring income safely—even when your trade doesn’t go as planned
Real-World Project
You’ll apply what you’ve learned to a hypothetical trade with both a cash-secured put and a covered call on the same stock. You’ll:
Enter the trade details in a spreadsheet
Analyze potential outcomes
Decide what action (if any) to take
Justify your management plan using your new tools
How This Relates to "The Wheel"
While the course doesn’t rely on buzzwords, many of the strategies taught here—especially managing covered calls and cash-secured puts on the same stock—are part of what’s often called The Wheel Strategy. If you’ve been looking for a clear, practical way to manage those trades at expiration, you’re in the right place.
Who This Course Is For
This course is designed as a follow-up to my beginner-friendly options classes on cash-secured puts and covered calls, but you’re welcome to dive in if you’re already comfortable selling options and want to learn how to manage them at expiration.
About Your Instructor
I’m Patricia Saylor, founder of Saylor Financial Fundamentals and author of The Novice Investor’s Guide to Stocks, Funds, and Options. I’ve taught students from over 60 countries through Udemy, 1:1 coaching, and seminars. I specialize in helping novice investors understand options trading clearly and confidently—without hype.
If you're ready to turn your options knowledge into recurring income and real results, let’s get started.
