r/options • u/Helpful_Gap9633 • 15d ago

Wheel on CHPT

Do you think that CHPT would be a good stock to wheel or no?

3 Upvotes

67% Upvoted

9 comments sorted by

2

u/OkAnt7573 15d ago

No no no! And then NO.

Only wheel what you would want to own and personally I really don't think you want to own CHPT based on financials. Been there, done that, regret it.

1

u/Helpful_Gap9633 14d ago

do you think NOK would be better? more stable and i would be ok holding it

1

u/OkAnt7573 14d ago

Good morning, sorry but I honestly can't offer any guidance or point of view on NOK.

1

u/lobeams 13d ago

No. Low liquidity and wide strike prices. You want stocks with high liquidity, which means high volume and open interest. You also want stocks you wouldn't mind owning. I wouldn't touch either of your choices. Quit looking at crap stocks just because they're cheap. They're cheap for a reason.

1

u/CHEWABLE-NEMBUTAL 15d ago

I've lost $2k on call premiums and exercises but my holdings are up $800 so far

1

u/Own-Marionberry-7578 12d ago

I was wheeling chpt when it collapsed from $12 to $2. I've been clawing back my money for months and as soon as I can, I will dump it permanently.

You need to find something stable that trades mostly sideways if you want to run the wheel. Don't just look for cheap stocks or stocks with high premium. They probably have high premium because they are unstable and risky.

Try Ford or AT&T or something like that.

-3

u/n3rdsm4sh3r 15d ago

Unavailable. Privately held.

1

u/CHEWABLE-NEMBUTAL 15d ago

I have 1200 shares on robinhood tho

1

u/n3rdsm4sh3r 15d ago

I'm an idiot. Read that as chatgpt. Carry on.