I would say that if you're going to implement this strategy against an ETF such as COPX, you should probably already feel comfortable with owning the ETF or stock. In other words, if you wouldn't buy the stock or ETF apart from the options, then perhaps it's not worth doing the wheel against. I personally don't use stop losses or take profits on the wheel.
It is an interesting concept the wheel strategy, but you need to have the cash flow for executing the put and call option.
why not just hold it until 2050 and be rich as fuck
Interesting! I didn't know this etf existed.
Just learned about it myself! I think it's interesting for sure
does bro have copper as his homescreen lol
Question, on Webull it has me at a stop loss and a take profit, should i be using that?
I would say that if you're going to implement this strategy against an ETF such as COPX, you should probably already feel comfortable with owning the ETF or stock. In other words, if you wouldn't buy the stock or ETF apart from the options, then perhaps it's not worth doing the wheel against. I personally don't use stop losses or take profits on the wheel.