WHEELHOUSE Options Income Club

4.7 (16 Reviews)
Live options trades and a real community for traders. Income from selling options, growth from LEAPs. Private Discord for retail options tr...
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Created byProfile pictureJason Luongo
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Jason LuongoProfile picture@jtluongo·Aug 13

These last 2 weeks have been absolute money printers for selling options. Take a look at all of our closed trades th past 2 weeks. Selling options help provide consistent income to then invest into long-term equities and LEAP positions. It's a powerful 2 part system.

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Jason LuongoProfile picture@jtluongo·Jun 5

Some recent wins from a few of our members. We've hit a few BIG options calls on AVAV, PENG, ONDS, and more! Some of the contracts are up over 200%. We have also continued to generate income selling options every week with cash-secured puts and credit spreads.

The best part about selling options is that they work well even when the market is choppy and give you a price cushion. This allows you to be more flexible depending on market conditions.

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Jason LuongoProfile picture@jtluongo·May 31

It's been an incredible couple weeks for our Wheelhouse members!

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Jason LuongoProfile picture@jtluongo·May 25

A lot of people had a rough week last week, but not us. We closed nine trades all for profit. That's the power of selling options.

You don't need to buy options to make money. You can sell options and generate regular, consistent income.

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Goetz@limphatred·Jun 16

How much cash you have to have as security for the broke to get into a Put Credit Spread ?

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Jason LuongoProfile picture@jtluongo·May 8

Why I stopped chasing option plays and started selling them

Most retail traders approach options backwards. They buy calls, chase momentum, and wonder why their account bleeds theta every week.


I flipped the script three years ago. Instead of buying options and hoping for a move, I started selling them — and collecting premium as income.


Here's the basic framework:


Rail 1: Income — Sell cash-secured puts on stocks I want to own at lower prices. If assigned, run covered calls. If not, keep the premium and repeat. Layer in put credit spreads and calendar spreads for additional income on tickers I'm watching.


Rail 2: Growth — Allocate a portion of the account to LEAPs and equity for high-conviction positions. Let the income side fund the growth side.


The result? A system that generates cash flow while building long-term positions. No day trading required. No staring at screens for 8 hours. No YOLO calls.


The key insight most people miss: options selling works best when it's boring. Small, consistent premium collection. Proper position sizing. Risk management that respects your account size whether it's $5K or $500K.


I document every single trade I take — open and closed — with full reasoning. Strike selection, expiration choice, premium targets, and breakeven levels. All transparent, all in real time.


If you want to see how this actually works in practice, WHEELHOUSE is where I run the whole system in the open.