The Wheel Strategy Options (explained for beginners + pitfall to avoid)

Learn the ins and outs of the option wheel strategy in this video. Discover how this simple yet effective strategy can enhance your stock and options trading. The wheel is a lot more simple than it might seem at first - however, be careful with what stocks you decide to wheel with. The reason most people get burned is the choose to wheel the stocks of terrible businesses. So can you live off wheel strategy selling options? Maybe. It would take a large amount of capital to do so however - probably $300k. Options wheel strategy is great - but shouldn't be done blindly. I would suggest using Think or Swims "On Demand" feature to fake trade the wheel in super speed time so you can see how it works.