🎯 $HIMS Wheel Update – Taking Profits and Resetting for the Next Rotation

✅Trade Management Alert Locking In Gain

Trade: HIMS Oct 31st $52 Cash-Secured Put
Strategy: Wheel (Phase 1 – CSP Income Leg)
Date: October 16, 2025

💰 Trade Summary

• Underlying: HIMS & Hers Health

• Entry Credit: $4.70 ($470 per contract)

• Closed Price: $1.36 debit

• Net Profit: $334 per contract (+70.9%)

• Days in Trade: ≈ 9 days in 15 Days Left to Expiry

• Annualized ROI (approx.): ≈ 230%

• Collateral Used: $5,200

• Effective Cost Basis if Assigned (not triggered): $47.30

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  🧠 Why I Cashed Out Here

  A few key things lined up:

  • The trade did its job. I sold premium, time decayed, volatility stayed high, and I got paid.

  • The chart’s getting stretched. HIMS pushed into the low $60s, and momentum indicators started to cool off — perfect setup for a pause or pullback.

  • IV is still rich. That’s a great combination for the next entry, not something I want to fight while holding open risk.

  • Capital efficiency. Closing now frees up buying power so I’m ready to step back in when price and probabilities are better aligned.

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  🕰 What’s Next

  Now it’s all about patience.

  I’m waiting for a healthy pullback — something that brings HIMS back toward support and resets short-term momentum. That’s where the next cash-secured put will make the most sense. I don’t chase after strength; I sell premium into weakness when everyone else is nervous. That’s where the edge lives.

  Once that happens, I’ll look for the next clean setup to start another Wheel rotation — fresh premium, wider cushion, same disciplined playbook.

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  🌀 The Wheel in Motion

  This is exactly how the strategy is meant to work. You sell puts when the setup looks good, manage the trade with clear rules, take profits early, and then wait. If you eventually get assigned, you just switch gears into covered calls and keep the income rolling.

  It’s not about forcing trades or predicting where the stock will be next week — it’s about staying systematic. The Wheel keeps turning, but only when the conditions deserve your capital.

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  Bottom line:
  I took the win, kept the process clean, and now I’m simply waiting for HIMS to give me another invitation. Patience and discipline — that’s how you let the Wheel compound quietly in your favor.

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