April wheel results
April was even better than March for running the wheel. The war continued in Iran with no end in sight, inflation continued to soar and it seemed like everyone was shoveling their money into the stock market with both hands.
I continued wheeling my favorite stocks MSFT and GOOGL as well as the semiconductor ETF SMH.
I also had good results wheeling the leveraged ETFs TSLL and TQQQ. But the prize winner for April was the 3X leveraged semiconductor ETF SOXL which accounted for almost half of my premiums.
I avoided wheeling META as it gained over $100 per share in April and climbed back to positive territory for the year. When I finally did sell a CSP ($50 OTM) right before earnings I paid the price as META dropped more than $60 in the days after reporting. That was the only blemish on what was a positive month of wheeling.
I try to hold my CSPs until expiration but the market was moving so fast that I sold several a day or two early so I could redeploy the cash in other CSPs. All in all April was a great wheeling month. I ended up with a 2% ROI which is well above my target.
My wheel strategy including the tickers I wheel and why are detailed in my February post: