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Pro Tips · Oct 14, 2026

Wide option spreads can quietly shrink your wheel profit

A round-trip example shows how entry and exit fills change a wheel trade's result. Track the bid, ask and costs before counting the premium as profit.

PRO#options-education#liquidity#cash-secured-put
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Photo: MITESHSTHA / Wikimedia Commons, CC BY-SA 4.0. Cropped and resized; adaptation CC BY-SA 4.0.

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YieldCove Desk

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3 min read

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5 sources cited

A cash-secured put can look attractive on a calculator while losing part of its appeal at the order ticket. The option chain usually shows two prices: the bid, offered by buyers, and the ask, requested by sellers. The gap between them is the bid/ask spread.…

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