Wheel Strategy: Income Trifecta

[@timleeman4627]

I've been following your videos for a month, and your free trackers impressed me so much that i upgraded to premium. The difference is incredible! It'll save me loads of time and boost my research productivity tenfold

[@SellingOptions4Income]

You are amazing for creating this app, I was looking for any downloadable spreadsheet or creating one with AI, but this is golden free app! Great videos as well, clear and to the point. Thank you so much! You rock!

[@macman231]

I appreciate your work on your site, those premium features sure make it easy all in one place to acquire ideas on potential dividends for a strategy even if its not part of a trifecta strategy, valuable stuff and efficient content.

[@rick7972]

Yes, this guy is good!👍👍🥇

[@dream33611]

I had just went to the site and saw the addition, I said "I bet there's a video for this" and here you are. LOL

[@robsweedler8489]

Hi Ben, 1. Thank you for pricing the toolbox at $8/mo. You're a mench and I appreciate it. 2. My Dividend Calendar is not populating with data. 3. The command to sort the Trifecta stocks alphabetically sorts the list Z - A. I made my first leg of a Trifecta trade yesterday (Monday 12/11). There's a good chance that the trade will end and expire worthless on Friday (12/15) with an approximate annualized yield of +136%. It's a great trade whether it ends this week or plays out to the end. Thank you.

[@yieldcollector]

Thanks. I'm not sure why your Div Calendar isn't showing data for you. I just tried it and it worked for me. Try refreshing the page maybe and wait a few seconds for it all to load. If it still doesn't work send me a screenshot and I can try to help you at [e-mail]. Thanks for the heads up on the sort, I just fixed it.

[@VllKlNG]

Just starting to get to know your site, but your tools are making things simpler for the user. I'll be trying this out soon! Ty.

[@markuslee5768]

It seems like an awesome way to find opportunities... running the wheel strategy now myself but just using my own built excel chart to track profits and ROI.

[@Downsize1940]

Very creative content and you keeping short and to the point. I'm subscribed.

[@frankmaresca6995]

I appreciate your educational videos on option strategies and that you offer your premium service at a reasonable monthly rate. I use Market Chameleon, Schwab and Fidelity (as well as Barchart and Tipranks) to do my weekly screenings. I see the payment goes to Tennessee Trading LLC. Is that correct? Are you in TN? We are moving to the Nashville area next year! Can't wait :) Keep doing what you are doing. Great job.

[@yieldcollector]

Thanks. Yeah I live in the Nashville area. Welcome!

[@RaadYacu]

Site addition looks impressive

[@JohnsFishTales]

Quadfectra with 5% interest on your CSP’s.

[@yieldcollector]

Dang, I should've thought of that.

[@OneStrangeJourney]

not in all brokerages unfortunately (friggan Robinhood)

[@jajcontractfurnitureinc.3867]

Just signed up for the premium content!

[@user-uw6xs3ow5b]

Great video, just started this strategy. Quick question, if the Ex-Div date and Options expiration date are the same do you have to do anything different? Will the shares be assigned in time for the Ex-Div? Thanks again and keep up the informative videos!

[@yieldcollector]

For the instances when the ex-dv is the same as the expiration date I would sell a Covered Call then because you need to own the shares 1 day before the ex-div date to be eligible for the dividend.

[@paytax4707]

That’s an awesome calculator/tool.

[@joenugent3994]

I want to try your Trifecta strategy and have subscribed.

[@KurtVogel88]

I did this last week with Altria. My $42 put will get assigned, the $41 probably will not.

[@OneStrangeJourney]

looks great! going to test it out for a month and see If I like it!

[@jackbabay5826]

Dear sir, you suggest: "If you want to be more conservative, you can sell your Puts at the Price Channel Lowest Low and sell your Calls at the Price Channel Highest High". Could you please explain what is meant of being more conservative? Thanks.

[@yieldcollector]

Selling further OTM for less premium with less chance of being assigned.

[@stan7757]

This is great, don't know how I missed it. Assume this can still make money in a down market?

[@yieldcollector]

Possibly. As long as your underlying stocks don't tank, you should be able to collect dividends and option income.

[@stan7757]

Like that we can pick up a quarterly dividend on many of these stocks.@@yieldcollector

[@edwardbode536]

very cool strategy, many thanks

[@michaelsmith5463]

Please define "ex-div" . How long before a dividend payout must you hold the stock to get the dividend?

[@yieldcollector]

You need to own your shares 1 day before the "ex-div" date to be eligible to receive a dividend payment. The ex-div date is different from the payment date. Here is a good article explaining the differences www.nasdaq.com/articles/ex-dividend-date-vs.-record-date:-whats-the-difference#:~:text=The%20ex%2Ddividend%20date%20marks,dividend%20distributes%20to%20eligible%20shareholders.

[@VolatilityTrading27]

Question. In the journal/tracker. Is there a way to see the overall of everything in the journal? Like a summary of the whole account?

[@yieldcollector]

After your Wheel Strategy campaign is over and you "Archive" the trade, you can then view your overall "Realized P/L" on the "Archived Campaigns" page. You can see the overall results there filtered by Strategy and Account.

[@fintechtate]

Hi there. I've been tinkering with this strategy a bit. But I always find it takes much longer to get the shares called away for a profit than I had originally thought. With that said, are you still playing this particular strategy? And what are your thoughts for it in the current environment? Keep up the great videos!

[@yieldcollector]

Yeah I still use the strategy for a couple of trades per week. Sometimes it definitely takes more time than I plan for the shares to get called away. That can definitely be annoying. It all depends on the stock selection I suppose. Because of cash paying about 5% right now, I think this current environment is just not that great for dividend stocks. So the majority of my Wheel trades lately have been on growth stocks and the QQQ. When dividend stocks become more attractive again I will focus there more.

[@fintechtate]

@@yieldcollector That makes perfect sense! I started weekly wheeling just IWM recently and it's been doing really well for me. I have a small account and can't really afford to wheel SPY, but at some point, I might. IWM offers decent volatility so it seems to play pretty well.

[@dron121]

1st time i see this video, looks very promising, i just signed up and putting all my position in to see how it looks, is there a way to make the page in Dark theme ? thx in advance.

[@yieldcollector]

I plan on adding in the ability to toggle between light and dark themes eventually.

[@johnwilliamson958]

any disadvantage to selling the first ITM put instead of the ATM strike?

[@yieldcollector]

As long as you're comfortable getting assigned shares at that price, then I see nothing wrong with that.

[@mrbigcat9]

What happens if this strategy goes against you? CSP etc.?

[@yieldcollector]

Then it just turns into a regular Wheel Strategy trade. Just keep selling Calls (above your cost basis hopefully) until the stock bounces back and your shares get called away.

[@marshalls7340]

Awesome video. I just signed up. Can I add a few companies to the list or is it only companies that fit your screener profile?

[@yieldcollector]

Thanks. It is just companies that fit the screening profile and have ex-div dates in the next 2 weeks. I will be implementing a feature at some point that will let the user create their own watchlist though.

[@waynelagasse9914]

Wow great stuff. What will the premium service cost? Looks like some great info which will help with research. Thanks for the great content

[@yieldcollector]

Thanks. It is $8/month.

[@waynelagasse9914]

@@yieldcollector Wow why so low? Sounds like a 25 to 30 a month easy. Always price higher cause it’s easier to come down than go up. 🤷‍♂️. I’ll be a subscriber when it’s available on your site.

[@yieldcollector]

I wanted to keep it pretty low to make sure that most of the users could afford it if they wanted it. It is available now, if you have a free account, then on the main app screen you will see an "Unlock Premium" icon. @@waynelagasse9914

[@billstevens5277]

@@yieldcollector I signed up. A small thank you for the great youtube content and free tracking site.

[@fabiGBOtown]

Noobie question here but what did you mean by sell a weekly call just outside the dividend range? If possible, an example? Thanks very much.

[@yieldcollector]

Example: PHM is currently trading at $96.31 and the upcoming div payment is $0.20. So I would sell a Call at a strike price greater than $96.51 (which is $96.31+$0.20). So I would probably choose the 97 strike.

[@fabiGBOtown]

@@yieldcollector got ya, so if I got this correct you'd write a Put at 96 or 96.5, collect the dividend and only after the ex date you would write the call at 97?

[@yieldcollector]

I'd probably sell the 96 Put, and then if assigned I would then immediately sell a 97 Call at the first expiration date after the ex-div date. @@fabiGBOtown

[@fabiGBOtown]

@@yieldcollector would that run the risk of getting assigned at 97 before the ex date? Im assuming of course you're doing this before the ex date. Say ex date is 12/22 (made up date), you sell csp for the Friday before, gets assigned, you write the cc on Monday, 3 days away from ex dividend, do i understand this right? Im seriously considering this so Let me just ask, do you have someone on yieldcollector, which I use btw, available for these questions?

[@yieldcollector]

Yeah there would be a slight risk of early assignment, but that is fine too. You would be getting your shares called away at a price higher than your adjusted cost basis. Because you sold your Call slightly OTM, you would still be profitable, even if you didn't get to collect the dividend. Btw, I am the only one who made the yieldcollector app and I have no employees or anything, so all of the questions are answered by me lol.

[@johnwilliamson958]

I signed up for the tool and was looking at some of the stocks listed. Am I missing something? Some of these stocks do not have this expiration date (HBAN, VST, OVV as examples).

[@yieldcollector]

Yeah, as of right now when I run the scan for stocks I have no way of knowing if they have Weekly options available. So some of those types of stocks don't have Weeklies, so they will still show up in the list but won't be able to be traded. I am looking for a way to check for that and I will filter for that eventually. But for now just avoid those ones without Weekly options. Luckily most good stocks have Weeklies available. There currently aren't a lot of good choices right now for the Income Trifecta. It all comes down to when the good stocks have ex-div dates. Some weeks you get 3 pages of results, some weeks you get 1.

[@johnwilliamson958]

Ok thanks. I started one on LUV that the Put sold this AM. Gonna see how this works. Do you have a video out about Buy Writes?

[@yieldcollector]

I haven't made a video yet on Buy-Writes, but if I want to capture the dividend, I just sell a Call for the expiration date right after the ex-div date. For the strike, I choose whichever is right out of the range of the dividend amount. So if a stock is trading at $50 and the div amount is $0.60, I would probably sell the $51 Call. Good luck on your LUV trade. @@johnwilliamson958

[@jim19428]

How long have you been doing this and do you have any data on your returns that you can share?

[@yieldcollector]

I've been using this scanner for about 5-6 months now. I've been pretty successful with it, but it is hard to say the exact amounts because I also trade the Wheel a lot on non-dividend growth stocks and everything is all mixed in together.