The wheel strategy involves selling a put in a stock you're bullish in, with the intent to acquire stock if the put expires ITM. Once the stock is taken, you then turn the shares into a covered call by selling a call above the stock acquisition price. This creates a "wheel" of cost basis reduction, selling premium on both sides, and creates a high probability trade environment with such a low cost basis.
Tune in to learn how this compares to buying the stock outright, with a live Q&A as well!
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