Options Boot Camp 369: What to Do When The Wheel Turns Against You

In this episode of Options Boot Camp , hosts Mark Longo and Dan Passarelli (Market Taker Mentoring) dive deep into the mechanics of the Wheel Strategy —one of the most popular frameworks for generating consistent options income . Whether you are selling cash-secured puts or managing covered calls , the "Wheel" is a powerful tool for any trader's playbook, but what happens when the market moves against you? Mark and Dan break down the specific scenarios traders face when a trade goes south, offering a masterclass in position management and cost basis reduction . Key Topics Covered in This Episode: Managing Losing Trades: What to do when your initial put sale goes in-the-money. Stock Repair Strategies: How to use the "Repair Manual" to recover from underwater positions without adding more capital. Averaging Down vs. Rolling: The pros and cons of lowering your entry price in a declining market. The Importance of Objectives: Why a clear "exit plan" is the most critical part of the Wheel Strategy . Advanced Covered Calls: Strategic strikes for when you've been assigned the underlying stock.

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Options Boot Camp 369: What to Do When The Wheel Turns Against You is an episode from Options Boot Camp by The Options Insider Inc..

This episode is 31:31 long.

This episode was published on Dec 18, 2025.

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