Wealth Building With Options

Welcome to the Wealth Building With Options Podcast with Dan Passarelli. This podcast is dedicated to making you a calm, consistent and confident options trader. Inside each episode, Passarelli, an options industry veteran, helps you avoid the common mistakes, pitfalls and misconceptions about options trading as a consistent wealth building activity. You will discover actionable strategies to build wealth using assets you may already own. With a primary focus on the traditional “Wheel Strategy,” Passarelli taps his 30+ years as a market maker on the Cboe floor and options educator for investment firms, traders and international governments to make the process simple, straightforward and effective. As a subscriber to the Wealth Building With Options Podcast you will gain the valuable insights only an experienced trader and educator can provide. You’ll discover the keys to making covered calls and cash-secured puts work for you as a consistent wealth building activity. Whether you are in

Wealth Building With Options is a business podcast hosted by Unknown Host, with 79 episodes on record and a Required Pod Score of 80. PitchCentric scores this show on Booking Probability, Listen Score, and live audience signals refreshed every 24 hours.

Unknown Host hosts Wealth Building With Options, a business show with 79 episodes published.

Our AI reads these to draft pitches. Use them as grounding for a pitch that cites a real guest and a specific topic.

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  Episode #81

  Ep81 - Master Class on the Wheel

  Aug 25, 202629 minS1

  As he does during his live weekly Wealth Builder Trade Room, Dan takes listeners inside his own IRA to demonstrate how he manages Wheel trades in real time. He walks through several positions and explains the thought process behind deciding whether to sell puts, write calls, roll an existing position, wait for a better opportunity or simply let the trade develop. Using examples from his actual portfolio, Dan shows how the Wheel is less about finding one perfect trade and more about methodically managing a series of decisions. He covers assignment, net zero rolls, earnings volatility, technical analysis, option premium and the importance of knowing when the math no longer justifies a trade. Key Topics How Dan methodically reviews and manages Wheel positions in his IRA What happens after assignment on a cash-secured put Using net zero rolls to move strikes and manage positions Managing deep in-the-money covered calls when a stock rallies Why time value matters when selecting options to sell Taking advantage of higher implied volatility around earnings Using support, moving averages, RSI and PAS Bands to guide decisions Why sideways stocks can be particularly attractive for the Wheel Using option premium to offset negative stock scalps How wishlist orders can create opportunities without forcing a trade Key Takeaways Treat the Wheel as a process, not a collection of isolated trades. Dan's approach is to work through positions methodically, starting with the broader market and then focusing on stocks that require attention, particularly as expiration approaches. Assignment is simply another step in the Wheel. After being assigned shares from a cash-secured put, the next decision may be to sell a covered call, but timing and pricing still matter. Rolling can give a position more room to work. Dan demonstrates how net zero rolls can be used to change strikes while continuing to manage the overall position. Don't sell an option just for the sake of selling one. When managing an in-the-money covered call, Dan looks for enough remaining time value to justify the new option. If the economics aren't there, the trade doesn't make sense. Higher implied volatility can create attractive premium opportunities. Dan's earnings-related put trade illustrates how elevated IV can produce substantially richer premium, but that additional potential return comes with additional risk. Sideways stocks can provide an ideal environment for the Wheel. Repeatedly selling puts and calls can work particularly well when a stock remains within a range and time decay is allowed to do its job. Not every Wheel trade will unfold perfectly. A stock can run through a call strike or create the possibility of a negative scalp, but accumulated option premium can help offset those less-than-ideal outcomes. Sometimes waiting is the trade. When a stock becomes overextended or the setup isn't favorable, Dan is willing to give the position time rather than immediately adjusting it. Wishlist orders can help investors stay disciplined. Instead of chasing premium, Dan places orders at strike prices and premiums he'd be happy to receive and lets the stock come to him. Connect Want to see Dan put these concepts into practice? Join the Wealth Builder Trade Room, where Dan trades his personal IRA live, walks through his option selection and adjustments step by step and discusses the stocks and long-term investments he's analyzing. The class meets every Friday at 11:15 a.m. Eastern / 10:15 a.m. Central. Visit MarketTaker.com/wealth to learn more and join the Wealth Builder Trade Room. If you enjoyed this episode, subscribe to Wealth Building With Options on your favorite podcast platform and leave a review to help more investors discover the show. For more information about subscriber-only articles, video training, monthly Ask Me Anything sessions, unusual options activity alerts, and access to Dan's real covered call and cash-secured put trades, visit https://wealthbuildingpodcast.com . To learn more about Dan Passarelli, Market Taker Mentoring, and his book Build Consistent Wealth With Options, visit https://markettaker.com . Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD), which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor. Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/ -- License: Attribution 3.0

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  Episode #80

  Ep80 - Two Guys Talking About the Wheel

  Aug 18, 202631 minS1

  Dan sits down with Market Taker Mentoring head coach John Kmiecik for a candid conversation about the Wheel strategy, what they’re seeing from real traders, and why a strategy that can sometimes feel “boring” may be exactly what many investors need. John shares how students are incorporating the Wheel into their portfolios, including traders with smaller accounts, and why the strategy can provide a very different experience from the constant ups and downs of swing trading. Dan and John also dig into what makes the Wheel work, from the volatility risk premium and changing implied volatility environments to earnings opportunities and the realities of assignment. They discuss the psychology of watching a stock blow through a put or call strike, why missing some upside doesn't necessarily mean a trade went wrong, and how adopting an investor's mindset can make it easier to focus on the long-term process instead of trying to achieve a perfect outcome on every trade. Key Topics How traders are using the Wheel in real-world portfolios Why the Wheel can work for smaller accounts The difference between the Wheel and higher-stress swing trading Why “boring” investing can be a good thing How the volatility risk premium helps drive the Wheel strategy Whether the Wheel still makes sense when implied volatility is low Active vs. passive approaches to selling option premium Using the Wheel around earnings announcements Why cash-secured puts have become one of Dan's favorite strategies Managing the psychology of assignment and missed upside Key Takeaways Consistency can be more important than excitement. The Wheel may not deliver the immediate gratification of a successful swing trade, but its appeal comes from repeatedly executing a process and evaluating results over longer periods. Low volatility doesn't automatically eliminate Wheel opportunities. Premium may be less attractive when implied volatility is low, but Dan and John argue that investors can still evaluate each opportunity based on the available return, technical setup and their individual objectives. You should be comfortable owning the underlying stock. When starting with a cash-secured put, the possibility of assignment should be part of the plan not an unexpected consequence. Earnings can create richer option premiums, but they come with tradeoffs. Higher implied volatility around an earnings announcement can create opportunities, but investors still need to consider strike selection and whether they're willing to own the shares if assigned. Assignment isn't necessarily failure. If a cash-secured put is assigned above the stock's current market price, Dan frames it similarly to buying a long-term investment with a limit order and then watching the stock subsequently decline. Missing upside doesn't mean the covered call was a mistake. Stocks will occasionally move dramatically above a call strike. That's one possible outcome of a strategy designed to repeatedly collect option premium rather than capture every dollar of upside. Think in terms of the overall process. Some individual trades will underperform expectations. The objective isn't perfection; it's building a repeatable approach that can produce attractive results across many trades and market environments. Connect If you enjoyed this episode, subscribe to Wealth Building With Options on your favorite podcast platform and leave a review to help more investors discover the show. For more information about subscriber-only articles, video training, monthly Ask Me Anything sessions, unusual options activity alerts, and access to Dan's real covered call and cash-secured put trades, visit https://wealthbuildingpodcast.com . To learn more about Dan Passarelli, Market Taker Mentoring, and his book Build Consistent Wealth With Options, visit https://markettaker.com . Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD), which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor. Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/ -- License: Attribution 3.0

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  Episode #79

  Ep79 - How I Find Wheel Trade Candidates

  Aug 11, 202632 minS1

  Finding a great Wheel trade starts long before choosing a strike price or expiration. In this episode, Dan walks through his step-by-step process for finding candidates for covered calls and cash-secured puts. The process begins with a fundamental distinction: Are you evaluating a stock or ETF you already own or searching for a completely new opportunity? From there, whether you want to skate and collect premium or trade into or out of the stock determines which tools matter most. Dan explains how he combines fundamental analysis with technical tools including support and resistance, RSI and his PAS Bands indicator. He also discusses where new investment ideas come from and why every idea still requires your own due diligence. The goal isn't simply to find stocks with attractive option premiums; it's to build a repeatable process for identifying candidates that fit your objective, valuation criteria and overall Wheel strategy. Key Topics Starting the candidate-selection process with stocks and ETFs you already own Defining your skate vs. trade objective before choosing an option Using horizontal resistance to select covered call strikes Applying RSI to identify overbought and oversold opportunities Using PAS Bands to help establish covered call and cash-secured put strikes Evaluating long-term investments with fundamental analysis Using P/E ratios, discounted cash flow and other valuation methods Finding new Wheel candidates through research, scanners, AI, etc. Using support levels when evaluating cash-secured put opportunities Combining fundamentals and technical analysis based on the objective of the trade Key Takeaways Start with the objective. If you already own the stock, determine whether you're trying to collect premium and avoid assignment or intentionally trade out of the position. Match the analysis to the trade. Long-term value opportunities generally call for fundamental analysis, while shorter-term skate opportunities rely more heavily on technical analysis. Resistance matters for covered calls. Dan looks to position skate-objective covered call strikes at or above meaningful horizontal resistance. Support matters for cash-secured puts. Strong support can help identify strike levels where historical buying pressure may improve the probability of skating. RSI can improve timing. Dan watches for moves back below 70 after an overbought reading for covered calls and back above 30 after an oversold reading for cash-secured puts. Valuation should guide entry and exit. If a valuation metric helped justify buying a stock when it was undervalued, that same framework can help identify when it has become sufficiently overvalued to sell. Dividend holdings require different thinking. A dividend yield is effectively locked in based on your purchase price. A rising stock price doesn't automatically make an existing dividend investment less attractive. Ideas are only the beginning. Friends, news, paid research, scanners and AI can generate candidates, but Dan emphasizes doing independent research before acting. Premium alone doesn't make a good trade. For a fundamentally driven cash-secured put, both the prospective purchase price and the return earned if the put skates should make sense. Build a repeatable process. The overarching theme is to use fundamentals for value-oriented investments and technical tools for skate opportunities rather than choosing candidates or strikes arbitrarily. Connect If you enjoyed this episode, subscribe to Wealth Building With Options on your favorite podcast platform and leave a review to help more investors discover the show. For more information about subscriber-only articles, video training, monthly Ask Me Anything sessions, unusual options activity alerts, and access to Dan's real covered call and cash-secured put trades, visit https://wealthbuildingpodcast.com . To learn more about Dan Passarelli, Market Taker Mentoring, and his book Build Consistent Wealth With Options, visit https://markettaker.com . Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD), which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor. Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/ -- License: Attribution 3.0

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  Episode #78

  Ep78 - The Metrics I Use on Wheel Trades and How They Work - Part 2

  Aug 4, 202623 minS1

  In Part 2 of this series, Dan expands on the metrics every Wheel trader should understand by focusing on break-even calculations, cumulative discount effect, stock price basis and the often-overlooked role of interest rates. These metrics provide a more complete picture of long-term performance by tracking the combined impact of option premium, assignments, stock price movement and capital efficiency rather than evaluating each trade in isolation. Dan also explains why different calculations require different stock price references, how cash and interest rates influence option pricing and trade selection, and why investors should evaluate Wheel trades as part of an ongoing business instead of a collection of unrelated positions. Together, these concepts help traders make more informed decisions while developing a consistent framework for measuring long-term success. Key Topics Understanding breakeven vs. tax cost basis Calculating the cumulative discount effect Tracking Wheel performance across multiple trade cycles Why different metrics use different stock price references Choosing the correct stock price basis for each calculation How interest rates affect option pricing The relationship between cash-secured puts and idle cash Interest income as part of total Wheel returns Using interest rates as an investment benchmark Measuring Wheel trades as a long-term business Key Takeaways Breakeven calculations help measure how option premium reduces investment risk but should not be confused with tax cost basis. The cumulative discount effect tracks the long-term impact of every premium collected, debit paid and stock assignment across an entire Wheel cycle. Evaluating Wheel trades individually provides an incomplete picture; long-term results are best measured across multiple trades. Different metrics require different stock price references depending on what the calculation is designed to measure. Cash-secured puts should be evaluated using the strike price because it represents the capital committed to the trade. Interest rates influence option pricing, put-call parity, early exercise decisions and overall trade evaluation. Cash reserved for cash-secured puts continues earning interest, making it an important contributor to total returns. Interest rates also serve as a benchmark for comparing Wheel trades against lower-risk investment alternatives. Consistently tracking meaningful metrics helps investors improve decision-making and better understand their long-term performance. Successful Wheel traders think beyond individual trades and focus on building a repeatable, measurable investment process. Connect If you enjoyed this episode, subscribe to Wealth Building With Options on your favorite podcast platform and leave a review to help more investors discover the show. For more information about subscriber-only articles, video training, monthly Ask Me Anything sessions, unusual options activity alerts, and access to Dan's real covered call and cash-secured put trades, visit https://wealthbuildingpodcast.com . To learn more about Dan Passarelli, Market Taker Mentoring, and his book Build Consistent Wealth With Options, visit https://markettaker.com . Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD), which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor. Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/ -- License: Attribution 3.0

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  Episode #77

  Ep77 - The Metrics I Use on Wheel Trades and How They Work - Part 1

  Jul 28, 202629 minS1

  Dan introduces the performance metrics he relies on to evaluate every Wheel trade. Rather than focusing on option premium alone, he explains how measuring returns correctly helps investors compare opportunities, improve decision-making and treat trading like a business. By understanding the numbers behind each trade, investors can benchmark their performance and make more informed choices over time. Dan breaks down the calculations behind static return, annualized return, if-called return, skate return on cash and skate yield, explaining not only how they're calculated but why they matter. He also explores the psychological benefits of using objective metrics to overcome fear, avoid price anchoring and compare Wheel trades against any other investment opportunity. Key Topics Why every Wheel trader needs performance benchmarks Calculating static return for covered calls The importance of using time value instead of intrinsic value Annualizing returns to compare investments objectively Understanding the if-called return metric Calculating skate return on cash for cash-secured puts Why skate yield is one of the most powerful Wheel metrics Comparing Wheel trades to stocks, bonds and other investments Using metrics to overcome fear and price anchoring Why objective data leads to better trading decisions Key Takeaways Measuring performance consistently is essential for improving as an investor and evaluating whether your trading outperforms alternative investments. Static return provides a useful starting point for evaluating covered call income, but annualized returns allow meaningful comparisons across different trades and timeframes. The if-called return helps investors understand the potential outcome when covered call shares are assigned. Skate return on cash and skate yield offer a more accurate way to evaluate cash-secured put opportunities because they measure returns against the capital actually committed. Objective metrics replace emotional decision-making with quantifiable risk and reward. Annualizing returns makes it possible to compare Wheel trades with virtually any other investment opportunity. Using performance metrics helps investors make more disciplined strike selections and avoid common psychological traps like fear of assignment and price anchoring. Connect Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Get exclusive content including video trade walk-throughs, Dan's actual trades, monthly AMA webinars and more: wealthbuildingpodcast.com Subscribe on your preferred platform and leave a review to help more traders discover the show. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD), which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor. Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/ -- License: Attribution 3.0

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