Wheel Strategy Options Runner
Have Claude run the wheel strategy on Alpaca paper: sell cash-secured puts, get assigned, sell covered calls, and roll every cycle.
Before & after
Same prompt, same agent — the only difference is the skill.
The wheel strategy is a popular approach to income generation. Basically, you sell put options at a strike price you'd be happy to own the stock at, collect the premium, and if you get assigned you then sell covered calls above your cost basis. It's a cycle you repeat. You'd need to track your positions carefully and monitor the market. You'd want to decide in advance what prices you're comfortable with and stick to your plan. It can generate income, but like any strategy it has risks you should understand. You'd probably want to start with paper trading to get comfortable with it.
WHEEL EXECUTION LOG CONFIGURATION → Underlying: Tesla stock (current price $245.60) → Put strike: $220.04 (10% below current, 2-week expiry) → Call strike: $270.16 (10% above assigned cost basis) → Auto-close at 50% profit → Margin requirement: $22,004 reserved CYCLE 1 STATUS Position: Short put (220 call, expiry 2025-09-12) Premium collected: $520 Cash reserved: $22,004 Days remaining: 8 Breakeven: $219.48 Assignment probability: 12% (delta 0.12) IF ASSIGNED (scenario) → Stock cost basis: $220.04 → Shares acquired: 100 → Total capital deployed: $22,004 → Next step: Sell covered call (270 strike, 2-week expiry) → Premium available: estimated $680-750 → ROI on this cycle: 2.1% over 30 days DRAW-DOWN TRACKING → Total premiums this month: $1,890 → Cash available: $103,200 (from starting 125,000) → Open positions: 4 put spreads, 2 covered calls → Current P&L: +$1,230 (including closed positions) DAILY SUMMARY (2025-09-04) → Market close: all positions stable → No auto-closes triggered → New opportunity: sell puts on XYZ at 78.50 (4.2% return if assigned) DISCLAIMER: Illustrative paper trading only; not investment advice. Wheel strategy involves significant risk including assignment risk, margin calls, and losses. Past performance does not guarantee results.
About this skill
name: wheel-strategy-options-runner description: Have Claude run the wheel strategy on Alpaca paper: sell cash-secured puts, get assigned, sell covered calls, and roll every cycle.
Wheel Strategy Options Runner
What This Does
The creator dictates the full wheel rules: sell a cash-secured put 10% below current price with a 2-4 week expiry, collect premium, and if assigned start selling covered calls 10% above cost basis. Claude checks positions every 15 minutes during market hours, closes contracts at 50% profit, and delivers a daily market-close summary.
What You Get
- Cash-secured put trigger rules
- covered call rules once assigned
- premium tracker across cycles
- 50% profit auto-close trigger
- daily market-close summary
- enforce cash-covers and never-below-cost checks
Customize
- ticker: underlying stock
- put_strike_offset: percent below current price for puts
- call_strike_offset: percent above cost basis for calls
- expiration_window: days to expiry range
- profit_close_threshold: percent gain that triggers early close
Sample Output
Claude sells a Tesla 230 put, collects 500 dollars, then if assigned sells a 260 covered call the next cycle, tracking premiums across each rotation.
Target Audience
Options traders who want an unattended wheel runner
SKILL.md preview
---
name: wheel-strategy-options-runner
description: Use this skill when running the options wheel strategy on paper trading: selling cash-secured puts, handling assignment, and rolling into covered calls each cycle.
version: 1.0.0
category: Trading
author: AgentVolt
license: proprietary
tags:
- trading
- standard
---
# Wheel Strategy Options Runner
Runs the options wheel strategy end to end on a paper-trading account: selling cash-secured puts, managing assignment, selling covered calls, and rolling each cycle according to defined rules.
## When to use
- Running an unattended or semi-attended wheel strategy on a paper-trading account
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