Posts  / #POST-251090
REDDIT

Updated strategy - wheeling SPY

E
Sep 15, 2026 · 14:32

Thanks for the tremendous feedback on my other post: [Please critique my "boring" portfolio : r/options](https://www.reddit.com/r/options/comments/1w81dnp/please_critique_my_boring_portfolio/)

I've made some tweaks, but still have some lingering questions.

\---------------------------------------------------------------------

Capital: \~$50k cash + $25K margin

Step 1: Sell slightly OTM 0dte CSP

Step 1A: expry worthless, repeat step 1

Step 1B: expry ITM, roll to earliest OTM put for credit, wait for expry and go to 1A/1B as appropriate

Step 2: if assigned, sell slightly OTM 0dte CC

Step 2A: expry worthless, repeat step 2

Step 2B: expry ITM, if above cost basis, accept assignment; if below cost basis, roll to earliest OTM call for credit

This has produced approximately 25% for the past 2 years. It's very low effort; I spend less than 2 minutes each day. It doesn't work every day, but even when SPY goes down and I roll a few days out, I don't even check it again until date of expry.

Question(s):

Q1: I used to park the cash in long SPY, but others have said that I have single sided risk. So now the money to secure is sitting in cash. Plus I get additional purchasing power.

Do I have another option to generate slightly more interest on the $50k cash?