Sell ODTE puts on SPY then sell Monthly Calls?

0DTE puts on SPY? Oh hell no.

No, I would not want to run the wheel on 0dte's.

Why? Not like I want to do it, but you can’t just tell some random on the bet to not do something you you expect them to listen especially without providing any reason

Running the wheel on spy makes no sense regardless of expiration cycle because you are guaranteed to underperform it with more taxes and more work. 

It’s essentially just the wheel, no? A fairly safe strategy, but it’s probably not the most capital efficient. Still has issues of needing to find more money for collateral as the stock rises (if you started this when SPY was at 600, you’d need \~60k for collateral. Now that SPY is at 770, would you have collected enough premium along the way to still be able to cover assignment?) Still has the potential for you to be holding the bag if we fall into correction territory, unless you plan on selling calls below your cost basis, but that means you might lose money on a trade if a rally blows through your strike.

I sell put options for 30-45 days off and tend to do individual stocks, ideally mag 7 or other shares I really want to own. I have done QQQ and (once) TQQQ. I think you need to ignore buying power for these purposes. It’s current excess liquidity you need to look at.

Don’t sell 0DTE puts for the love of all things holy

Amen

I mean, at least not naked. A bull put spread is something one can sell just like one can sell a bear call spread.

NO = 0 DTE period. In this type of market

NO = 0 DTE period

It's like you made the effort to find the weirdest way to formulate the idea you want to convey

I’ve been selling 0DTE PUTS on spy and Apple almost exclusively for the past few years. Sell them on a down market then sell CC on green days. I’ve done quite well and it is something to keep me busy each day.

It's fine to sell CSP's on 0DTE, just know you're *really* likely to take assignment of the shares. It's usually more practical to go further out in time, in order to enter at a lower price. I used to mostly wheel into stock by selling CSPs about 30 days out. If I really wanted assignment, I would sell CSPs on weeklys. So to me selling on 0DTE is like *begging* for assignment. Nowadays, I'm a lot more conservative and will wait for a good dip in the underlying, then sell a CSP 6 months to a year out. I like "locking in" longer term yields. Then, if assigned I do the same with covered calls, although I prefer to do it as close to the money as possible, if ITM, even better.

You could sell put or call credit spreads and you would limit your downside. Also, you could combine them and do an iron condor.

I prefer to sell 1 DTE puts. Then if I’m assigned, I unload them immediately or hold for a recovery, depending. Selling calls doesn’t work well for me.

For cash secured puts 30-45 days is surprisingly a better option

That’s basically the wheel, but 0DTE adds a lot of gamma and assignment risk for relatively little premium. I’d prefer longer-dated puts, and only at a strike where I’d genuinely be comfortable owning SPY through a downturn. Selling monthly calls after assignment is reasonable, but it won’t undo a large drop in the shares.

People are quick to bash AI, but I feel this post would have been much clearer and easier to understand if it had been run through AI

pennies in front of a steam roller

And then you implode and get sad.