Wheeling SPY in sim before doing it live. already learned something annoying
u/bigpanda1992 ·
Reddit — r/thetagang
· July 02, 2026 at 13:30
· ⬆ 22 pts
· 💬 38 comments
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been reading about the wheel for months. Feels like the most "can't lose" strategy when you're just watching youtube videos about it
Decided to actually run it on a trading game sim first before committing capital. 30 DTE CSPs on SPY, 0.3 delta, the usual boring stuff
First week was great. collected premium, felt like a genius
second week SPY dropped 2% and I'm sitting in a sim position that's red by more than the premium I collected
obviously I knew that could happen. but knowing and feeling it are different things. Seeing those red numbers even on fake money made me realize I was way too confident about getting assigned at a strike I "didn't mind owning"
Sim doesn't teach you the real emotional side but it does expose holes in your thinking before real cash does. I would've been that guy panic closing a CSP for a loss if I went live immediately
gonna run it another month. see how it handles chop. the boring stuff is the point I guess