The Covered Call & Wheel Cheat Sheet

What's inside

• 01Mindset. Only sell calls on shares you're fine selling, and puts on stocks you'd actually own, with the cash set aside.
• 02Picking the strike. What delta roughly tells you, and the premium vs. assignment-risk trade-off.
• 03Picking the expiry. Shorter vs. longer-dated, plus the earnings and ex-dividend dates to check first.
• 04Volatility. Why high implied volatility pays more, and why that isn't a gift.
• 05Managing the trade. Write your close and roll rules before you enter. Rolling is a new trade, not a fix.
• 06The wheel in one line. Put, assignment, covered call, called away, repeat, and what can go wrong.
• 07Quick math box. Premium yield, annualized return, breakevens and a worked example.
• +Common mistakes. The five that catch most beginners.

One US Letter page, readable on a phone or printed. No sales pitch inside and no signals, just the checklist.