Market Context
Volatility continues to ease with the VIX below its key moving averages.
Premium conditions remain moderate.
SPY and QQQ hold above major support levels with primary uptrends intact.
Earnings activity is relatively light across major Wheel candidates this week.
I remain selective while focusing on clean assignment-driven setups.
Last Week — Trade Recap
Note: Entry taken near SMA50 and breakout support after pullback. Elevated premium with controlled speculative sizing. Assigned at expiration.
Note: Entry taken near SMA50 support after breakout consolidation. Fair premium on a strong-trend fintech underlying. Assigned at expiration.
Note: Entry taken near the EMA34 / SMA50 support cluster after controlled pullback. Fair premium on a quality dividend-paying underlying. Expired worthless.
Note: Entry taken near SMA50 support with breakeven approaching SMA100. Fair premium on a quality infrastructure technology underlying. Assigned at expiration.
Note: Covered call sold above assignment cost basis after recovery from assignment. Elevated IV with acceptable upside participation remaining. Expired worthless.
Note: Covered call sold above assignment cost basis after sharp recovery into resistance. Elevated IV with acceptable call-away level. Shares called away at expiration.
Current Positions
Plan: Covered call active at $42. Structure remains intact above assignment basis.
Plan: Covered call active at $141. Recovery management into resistance.
Plan: Covered call cycle completed. Position remains under Wheel management after premium capture.
Plan: Covered call deferred while price remains below acceptable call-writing levels.
Plan: Assigned after expiration. Covered call management begins from here.
Plan: Assigned after expiration. Covered call management begins from here.
Plan: Assigned after expiration. Covered call management begins from here.
Plan: Fair premium near EMA21 / EMA34 / SMA50 support cluster.
Watchlist
AGGRESSIVE
BALANCED
SAFE
What I Am Not Touching
No forced CSP entries after assignment-heavy expiration.
No premium-first trades.
No aggressive sizing while ONDS, SOFI, IONQ, and AMZN remain under Wheel management.
No selling puts into weak or broken structure.
No chasing rebounds without support confirmation.
No trades into earnings week.
No adding exposure just because volatility is lower and markets look calmer.
Process Note
Last week converted several active CSPs into assigned shares.
That increases the focus on management, not new deployment.
GLXY was successfully called away after recovery into resistance.
UPS expired worthless and validated the support-based entry process.
ONDS, SOFI, and AKAM now move into covered-call management.
AMZN remains below cost basis, so call writing stays deferred until the structure improves.
Current focus remains:
- protect cash reserve,
- manage assigned shares,
- sell calls only at acceptable levels,
- and deploy new CSPs only where support is clean.
Lower volatility reduces premium.
That does not change the process.
Assignment quality first.
No forced deployment.
— Wizolver