Market Context
Volatility retreated sharply, with VIX finishing near 15 after briefly approaching 19. Premium remains relatively limited despite the recent volatility expansion.
SPY is consolidating around its short-term moving averages after losing recent momentum. QQQ has recovered above key averages but remains inside its broader range.
The earnings calendar remains relatively light this week. Costco represents the most notable large-cap event later in the week.
Macro risk is lighter following last week’s Federal Reserve decision, although several Fed speakers and economic releases could still create short-term volatility as markets continue to digest the policy outlook.
Market behavior remains uneven after several larger intraday swings. Current conditions favor patience, defined support levels, and selective premium exposure.
Last Week — Trade Recap
TickerASTS
Strike$64
Premium$275
OutcomeExpired worthless
DTE3
Note: Covered call sold above the $60 assignment price after ASTS recovered, leaving additional upside while continuing short-dated premium collection. Expired worthless. Shares remain in the portfolio.
Read the trade log here.
TickerINTC
Strike$103
Premium$372
OutcomeCalled away
DTE3
Note: Covered call sold above the $98 assignment price after INTC recovered, continuing premium collection while leaving additional room above the existing cost basis. Called away. 300 shares exited at the $103 strike.
Read the trade log here.
TickerSOFI
Strike$18
Premium$252
OutcomeOpen
DTE8
Note: Covered call sold above the $17 assignment price after the previous call expired worthless, adding another $252 in premium while leaving room for the shares to recover. Position remains open.
Read the trade log here.
TickerRDDT
Strike$145
Premium$291
OutcomeExpired worthless
DTE10
Note: The existing $145 recovery cash-secured put reached expiration with RDDT remaining above the strike. Expired worthless. Full premium retained and no additional shares assigned.
Read the trade log here.
TickerPFE
Strike$27.50
Premium$220
OutcomeExpired worthless
DTE10
Note: The existing $27.50 cash-secured put reached expiration with PFE remaining above the strike. Expired worthless. Full premium retained and collateral released.
Read the trade log here.
TickerHIMS
Strike$27
Premium$160
OutcomeExpired worthless
DTE10
Note: The existing $27 recovery cash-secured put reached expiration with HIMS remaining above the strike. Expired worthless. Full premium retained and no additional shares assigned.
Read the trade log here.
Current Positions
TickerIONQ
PositionShares
Basis$57
Size200
StatusRecovery CSP
Plan: Recovery CSP active at the $34 strike through September 25. Effective basis on existing shares: $47.37.
TickerONDS
PositionShares
Basis$11
Size1,500
StatusRecovery CSP
Plan: Recovery CSP active at the $7 strike through September 25. Effective basis on existing shares: $10.28.
TickerSOFI
PositionShares
Basis$17
Size1,200
StatusCovered Call
Plan: Covered call active at the $18 strike through September 25. Effective cost basis: $14.72.
TickerAKAM
PositionShares
Basis$152.50
Size200
StatusRecovery CSP
Plan: Recovery CSP active at the $105 strike through September 25. Effective basis on existing shares: $149.50.
TickerHIMS
PositionShares
Basis$33
Size400
StatusCSP Reset
Plan: Recovery CSP expired worthless at the $27 strike on September 18. Effective basis on existing shares: $29.98.
TickerRDDT
PositionShares
Basis$190
Size100
StatusCSP Reset
Plan: Recovery CSP expired worthless at the $145 strike on September 18. Effective basis on existing shares: $183.60.
TickerASTS
PositionShares
Basis$60
Size500
StatusCall Reset
Plan: Covered call expired worthless at the $64 strike on September 18. Effective cost basis: $58.15.
TickerAKAM
PositionCSP
Strike$105
ExpirySep 25
StatusOpen
Plan: 1 contract. Break-even: $101.95. Position remains open.
TickerONDS
PositionCSP
Strike$7
ExpirySep 25
StatusOpen
Plan: 10 contracts. Break-even: $6.78. Position remains open.
TickerIONQ
PositionCSP
Strike$34
ExpirySep 25
StatusOpen
Plan: 2 contracts. Break-even: $33.20. Position remains open.
TickerSOFI
PositionCC
Strike$18
ExpirySep 25
StatusOpen
Plan: 12 contracts. Effective cost basis: $14.72. Position remains open.
Watchlist
Many names were KO today because the setups were too extended, lacked clean support close enough below price, or offered poor assignment structure at the available strikes. Several charts had already made sharp breakout moves, meaning CSP premiums were compensating for assignment risk rather than offering a favorable Wheel entry. The filter is intentionally strict: good stock ≠ good CSP timing.
AGGRESSIVE
TickerCOIN
Level$170.00
TriggerHold approximately $176–178 around EMA21 and establish a higher low after the sharp breakout. A controlled retracement followed by a recovery through approximately $190–195 would strengthen confirmation.
InvalidationDaily close below approximately $166.
RiskPrice at $194.25 has just advanced 11.66% in one session and is now approximately 10% above EMA21 at $176.20. ADX at 25 confirms adequate trend strength, but the move is too extended to justify chasing a near-ATM CSP. EMA34 around $173 and SMA50 at $166.66 provide the meaningful support structure below spot. COIN qualifies only as Aggressive, with the strike positioned materially below current price and preferably around the $170 structural area.
TickerGME
Level$20.00
TriggerPrefer a controlled retracement toward approximately $21–21.50 following the recent breakout. The former resistance area needs to hold as support.
InvalidationDaily close below approximately $19.50.
RiskADX at 39 confirms strong trend strength, but price at $22.64 is approximately 11% above EMA21 at $20.37 and EMA34 at $20.17. This makes current spot unsuitable for an aggressive near-ATM CSP. The $20 strike is materially better aligned with EMA21/EMA34/SMA50 support around $20.10–20.40. Because of the sharp recent acceleration and higher-volatility character of the underlying, this remains Aggressive despite the strong ADX.
BALANCED
TickerTSLA
Level$345.00
TriggerMaintain approximately $354–358 around the EMA21/EMA34/SMA50 cluster. A clean recovery through approximately $370–375 would provide stronger confirmation.
InvalidationDaily close below approximately $350.
RiskADX at 22 clears the minimum trend requirement. Price at $364.27 is only approximately 1.7% above EMA21 at $358.13, with EMA34 at $357.13 and SMA50 at $350.25 creating a strong support ladder immediately below spot. SMA100 at $379.40 remains the principal overhead resistance. The structure is suitable for a Balanced Wheel setup, but the strike should remain underneath the moving-average cluster rather than following price higher.
TickerHPQ
Level$30.00
TriggerHold approximately $33–34 and preserve the current higher-low structure. A recovery through approximately $35 would strengthen confirmation.
InvalidationDaily close below approximately $31.50.
RiskADX at 31 confirms strong trend strength and the moving averages remain positively aligned, with EMA21 at $32.13, EMA34 at $30.91 and SMA50 at $29.14. Price at $34.40 is not excessively extended from EMA21, but it remains materially above SMA50 following a strong advance. For that reason, the CSP should not follow spot higher. A strike around $30 places assignment close to EMA34/SMA50 structural support and more than 10% below current price.
TickerS
Level$20.50
TriggerHold approximately $21–21.50 around EMA21 and preserve the recent breakout structure. A recovery through approximately $23–23.50 would strengthen confirmation.
InvalidationDaily close below approximately $20.
RiskADX at 23 clears the minimum trend requirement, while the moving-average structure remains constructive with EMA21 at $21.39, EMA34 at $20.94 and SMA50 at $20.54. Price at $22.51 is only approximately 5.2% above EMA21 and roughly 9.6% above SMA50, keeping the setup inside the extension limits. The $20.50 strike aligns closely with SMA50 and sits beneath the primary EMA support cluster, improving assignment comfort.
TickerTMO
Level$600.00
TriggerPrefer a controlled retracement toward approximately $620–625 around EMA21 before entry. The breakout above approximately $640 should then remain intact.
InvalidationDaily close below approximately $590.
RiskThe moving-average structure is exceptionally clean, with EMA21 at $620.60, EMA34 at $607.20 and SMA50 at $590.90. Price at $651.45 is approximately 5% above EMA21 and about 10.2% above SMA50 following the latest breakout. ADX is strong enough to support the trend, but the current acceleration argues against selling a CSP too close to spot. A strike around $600 places assignment between EMA34 and SMA50 support and materially closer to the underlying support structure.
SAFE
TickerLITE
Level$850.00
TriggerHold approximately $890–900 around EMA21/EMA34 and establish another higher low. A recovery through approximately $950 would strengthen continuation.
InvalidationDaily close below approximately $840.
RiskThe underlying price structure remains constructive, with EMA21 at $893.54, EMA34 at $879.65, SMA50 at $841.77 and SMA100 at $864.54 providing several layers underneath spot. ADX at 11 shows limited directional strength, so confirmation at support matters more than momentum continuation. The $850 area sits close to deeper structural support and materially below current price, improving assignment quality if the pullback develops as expected.
TickerWST
Level$345.00
TriggerHold approximately $349–352 around the EMA21/EMA34/SMA50 cluster and maintain the recent breakout structure. A recovery through approximately $365–370 would strengthen confirmation.
InvalidationDaily close below approximately $337.
RiskADX at 22 clears the minimum requirement, while price at $362.31 is only approximately 3% above EMA21 at $351.20. EMA34 at $349.18 and SMA50 at $349.24 create an unusually tight support cluster directly underneath price, with SMA100 at $336.85 providing a deeper structural floor. The $345 strike places assignment beneath the primary moving-average cluster and gives additional room if the recent breakout retests support.
What I Am Not Touching
No chasing extended charts outside the defined watchlist levels. Several names have already moved sharply away from support. If the pullback or confirmation never arrives, there is no reason to follow price higher.
No premium-first entries. VIX has returned near 15, compressing broad-market option pricing. Lower premium does not justify moving strikes closer to spot or accepting weaker assignment levels.
No CSPs without identifiable support below the strike. A technically strong stock is not enough. The assignment level still needs a clear structural reason for ownership.
No front-running watchlist triggers. The candidates above already define the levels where the setup becomes interesting. Until those conditions are met, they remain watchlist setups rather than automatic entries.
No trades into earnings. The calendar is relatively light, but company-specific event risk still overrides an otherwise acceptable short-dated setup.
No oversized exposure in higher-volatility names. Aggressive setups can qualify when structure and assignment price are attractive, but position sizing still has to reflect the additional underlying risk.
Process Note
Last week reduced open assignment exposure without requiring additional intervention.
RDDT, PFE, and HIMS expired worthless. ASTS retained its shares after the $64 covered call expired, while INTC completed its Wheel cycle when the shares were called away at $103.
That returned collateral and created more room for selective deployment.
But available capital does not lower the entry standard.
This week’s watchlist contains several different structures. Some require a deeper pullback toward support. Others are already closer to attractive assignment zones but still require confirmation before entry.
That distinction matters. A stock can qualify for the watchlist without qualifying for a trade today. The trigger defines when the setup becomes actionable. The strike defines where ownership becomes acceptable.
With VIX back near 15, premium is less forgiving. There is less reason to compromise on either.
Current focus remains:
- wait for defined triggers,
- place assignment near structural support,
- keep higher-volatility exposure appropriately sized,
- and leave capital undeployed when the premium does not justify the risk.
More cash is available. That creates flexibility, not urgency.
Wait for the level.
Then evaluate the trade.
No forced deployment.
Wizolver.log documents a personal trading process and is provided for educational and informational purposes only. Nothing here is financial advice or a recommendation to buy or sell any security. Options trading involves significant risk. Do your own research.
— Wizolver
