When did running the wheel cross over from a strategy into a job for you, and did options trading automation actually help?
u/sugondesenots ·
Reddit — r/thetagang
· April 28, 2026 at 10:18
· ⬆ 25 pts
· 💬 32 comments
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Honest question for people who've run the wheel for a while.
Somewhere around month 12 I stopped enjoying this. Not the returns, those are fine, basically what the math predicted. The operational layer. The checking. The rolling. The decision every week about which strikes, which DTE, whether this week's IV is rich enough on this ticker vs that one.
I'm about 18 months in across 9 tickers, around $180k deployed, split between CSPs and covered calls on assigned shares. I have a spreadsheet. I have rules. I have a rolling schedule. It's still a thing I do, not something I've systematized.
What I'm trying to figure out is whether this is a systematic income strategy or whether it's a part-time job with a high skill requirement and no benefits. And for people who've moved some of it into options trading automation, did it change which of those two this feels like, or did it just make the job slightly easier?
Not looking for a specific answer. Interested in how people who've been at this a while think about it.