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Wednesday, September 3rd
“I cannot conceive how anybody in his right mind should go to a psychoanalyst.”
-Vladimir Nabokov
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Markets Today
🌏 Asia-Pacific: Down
🇪🇺 Europe: Up
🇺🇸 United States: Up
🛢️ Oil: Down
⚡ Crypto: Up
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Have you seen this 87% accurate “Wave” indicator?
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Major Market EventsÂ
- Google pops on antitrust win — Shares surged after a court ruled the company won’t be forced to sell its Chrome browser
- Bond selloff slows as yields ease — Treasurys steadied following a sharp climb that rattled global debt markets
- China flaunts military might — Beijing showcased new weapons in a lavish parade, sending a warning to Washington
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🤔 My Thoughts
The Wheel, Plain and Simple (GAP example)
What our pros showed yesterday—and how to run it with tight risk
I wasn’t on yesterday’s Profit Panel, but our pros walked through one of my favorite “calm” income tools: The Wheel, using GAP as the live example.
Here’s the idea in plain English:
Step 1: Sell a cash-secured put at a price you’re happy to own.
Pick a strike where owning shares would be fine. You collect cash up front. If the stock stays above your strike by expiration, the option expires worthless and you keep the premium. If it drops below and you’re assigned, you buy the shares at the strike — minus the premium you collected.
Step 2: If assigned, sell a covered call.
Now you own shares. Sell a call above your cost. You collect more cash. If price rises and your shares get called away, you exit at a profit. If price chops, you keep the call premium and can sell another one next week.
Why the GAP example works for teaching
On the show, Jeffry Turnmire walked through a cash-secured put he sold on GAP into earnings. It expired worthless, so he kept the premium.
That’s a clean Wheel “first step.” If it had been assigned, the next move would have been covered calls, which would allow him to collect cash up front until the shares are “called away.”
How To Run It — Simple Rules The Pros Emphasized:
- Keep size small. One put, one call.
- Only sell a put where you truly want shares. If you wouldn’t own it at that strike, skip it.
- Favor short dates. Many traders use 1–3 weeks for faster feedback and quicker recycling.
- Write down a line in the sand. If the story changes or a key level breaks, stand down and reset.
A quick starter map you can copy:
- Make a tiny watchlist of liquid, well-known names.
- Circle one support area you trust (a recent “price shelf” or simple moving average).
- Sell a cash-secured put below that shelf at a strike you’re happy to own.
- If it expires worthless, recycle. If assigned, start the covered-call leg.
You don’t need to predict headlines to make this work. You need a plan, tiny size, and a price you believe in.
Click here to watch the on-demand replay!
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To Better Trading,
Alex Reid
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