The wheel, explained
What assignment actually looks like
A real trade, from the losing open to the profitable close — every fill from our public book.
Assignment is the part of this strategy people fear, so here is one in full. Every line below is a real fill, posted publicly at the time it happened.
The trade, in order
| Date | What the algo did | Result |
|---|---|---|
| Jul 13 | Sold the $135 cash-secured put | +$450 credit |
| Jul 20 | Stock fell through the strike; the put was closed | −$740 |
| Jul 21 | Assigned 100 shares | $120.77 basis |
| Jul 21 | Sold a $134 covered call against the shares | credit |
| Jul 23 | Sold a second put at $103 — the covered strangle | assigned at $114.87 |
| Jul 27 | Bought the $134 call back cheaper, sold the $120 | +$175 |
| Aug 5 | Rolled the calls up to $124 as the stock recovered | credit |
| Aug 15 | Shares called away at $124.00 | +$3,025.40 |
Why the first loss did not decide the outcome
That opening put closed down $740, the worst day in the book's first week. Had the position been closed there, that is where the story ends. Instead the shares were taken, calls were sold against them, a second put was written below the market, and the cost basis was ground down week after week until the stock recovered into it.
The stock never returned to where the trade started. It did not have to.
This is not theory.
The algo runs this every trading day and every fill is posted publicly — wins and losses, updated hourly, on a paper account.
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