$2,747 in wheel premium in July on 40k account. Time to…?

This is a bad idea. Just because you made 5% in a month doesn't mean you will consistently. If you're getting those premiums, one misstep has the potential to blow up your account. I would revise your expectation to 1-2% per month, with 2% being on the aggressive side.

Of course, you are welcome to disregard this advice completely and learn the hard way as most of us have.

Options =/= life hack for easy money. You are essentially an insurer who makes money from pricing risk. Who pays for the damage when you have a car accident?

High premiums are only offered to you because of the (very real) risk associated with the underlying. Remember that options are widely used to hedge portfolios (nobody is buying them with the intention to throw money into thin air).

/r/thetagang Thread