💰 Covered Calls Called Away: Closing Out Another Full Wheel Cycle

Stacking Profits, Freeing Up Capital, and Resetting the Process on $APLD, $ENPH, $OSCR, $OUST, and $WULF

Hello traders and investors,

I wanted to give everyone an update that highlights exactly how the Wheel Strategy works when you allow the process to fully play out over time instead of focusing only on one individual trade.

Over the course of the past 6 to 8 months, I have been writing covered calls on the following positions which got called away on Friday above my strike prices: $APLD, $ENPH, $OSCR, $OUST, and $WULF.

Some of these positions were more profitable than others. Some moved quickly. Others took patience and active management along the way.

But every single one of them ended the same way...

Profitable.

And that’s the part that matters to me.

💰 The Bigger Picture Most Traders Miss

I don’t get emotionally attached to individual stocks, and I don’t sit around regretting that shares got called away.

That’s just the system working exactly as intended.

All of these names were originally assigned to me through cash-secured puts at prices I was comfortable owning them at. From there, I managed the positions by selling covered calls against the shares and collecting premium along the way while allowing time and price action to work.

Eventually, the stocks recovered enough to get called away at profitable strike prices.

That’s the cycle.

That’s the process.

That’s the business model behind the Wheel Strategy.

📊 The Numbers From This Group

Across these positions, I had approximately $23,550 invested.

When I combine:

✔️ The gains from my original cost basis up to the strike prices where shares were called away
✔️ The covered call premium collected throughout the process

The total combined profit came out to:

💵 $7,154

Not from chasing moonshots. Not from trying to hit home runs.

Just from systematically managing positions, collecting premium, and allowing the process to unfold over time.

🔄 Why I Actually Like Shares Getting Called Away

A lot of traders view assignment or shares getting called away as something negative.

I don’t. In many ways, it’s one of the most important parts of the cycle.

Because once shares are called away:

✔️ It forces me to lock in profits
✔️ It frees up capital to redeploy elsewhere
✔️ It keeps the portfolio rotating efficiently
✔️ It allows me to revisit these same names later with fresh cash-secured puts if new setups appear

And while all of this is happening, I still have other CSPs and covered calls throughout the portfolio continuously generating additional premium.

That’s what creates the consistency.

It becomes a steady cycle of collecting premium, managing positions, taking profits, redeploying capital, and repeating the process over and over again.

I’ve been doing this consistently for many years.

💭 My Take

This is why I always say the Wheel Strategy is less about individual trades and more about managing a repeatable system.

Some trades move faster than others.

Some require more patience.

Some go through assignment.

Some never do.

But when the process is managed correctly, the goal is simple:

Generate income, manage risk, compound premium, and continue putting capital back to work.

That’s the mindset I use every day.

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If this style of trading interests you, I currently offer a 30-day free trial where you can follow along with my trades, management decisions, and updates in real time as I work through the exact same process live.

*Disclaimer: The examples in The Options Oracle are my opinion, not financial advice.