Wheel tactics, straight from the desk
Hands-on playbooks for premium sellers: expirations, position sizing, rolling and repair — with concrete numbers, not vibes. Free while we build out the library.
INTC wheel watch: $90 put after a $95 stock offering
The September 18 $90 put showed a $2.85 reference credit and a 17.4% breakeven cushion around 9:54 a.m. ET. Intel’s final $95 share sale adds dilution risk while contract IV remains below its three-month norm.
MRVL wheel watch: $170 put leaves a 22.3% cushion
The September 18 $170 put showed a $5.93 reference credit and a 22.3% breakeven cushion at 3:43 p.m. ET. August 27 earnings and a premium valuation keep the wide cushion from being a safety claim.
MU wheel watch: $730 put leaves a 17.0% cushion
The September 18 $730 put showed a $22.85 reference credit and a 17.0% breakeven cushion at 12:03 p.m. ET. Its valuation is low beside storage peers, but IV is far below its three-month norm and the memory cycle remains the main risk.
INTC wheel watch: $85 put meets a $15B stock offering
The September 18 $85 put showed a $3.88 reference credit and a 16.4% breakeven cushion at 9:55 a.m. ET. Intel’s proposed $15 billion stock offering raises dilution risk while contract IV sits below its three-month norm.
MRVL wheel watch: $165 put leaves 27.0%, earnings inside
The September 18 $165 put carried a $7.35 reference credit and a 27.0% breakeven cushion. August 27 earnings sit inside the contract, while MRVL trades below its 50-day average at a rich peer valuation.
MU wheel watch: $720 put leaves a 23.6% cushion
The September 18 $720 put carried a $37.05 reference credit and a 23.6% breakeven cushion at 11:59 a.m. ET. Micron’s low forward multiple and revenue surge meet below-normal IV and an older support shelf.
INTC wheel watch: $75 put leaves a 19.3% cushion
The August 28 $75 put offered a $3.10 reference credit and a 19.3% breakeven cushion around noon ET. The spread sat exactly at the 8% cap while INTC remained below its 20- and 50-day averages.
AMKR wheel watch: $55 put leaves a 22.9% cushion
The August 21 $55 put offered a $3.20 reference credit and a 22.9% breakeven cushion at 3:37 p.m. ET. Earnings are expected inside the contract, and 115.67% put IV signals event risk rather than safety.
MRVL wheel watch: $160 put leaves a 21.9% cushion
The August 21 $160 put showed a $7.825 midpoint credit and a 21.9% breakeven cushion late Monday. MRVL’s support shelf and 101.07% put IV come with a damaged short trend and premium valuation.
MU wheel watch: $700 put leaves a 25.3% cushion
The August 21 $700 put offered a $34.75 reference credit and a 25.3% breakeven cushion near noon ET. MU’s oversold RSI and 110.0% put IV come with sharp memory-cycle risk.
INTC wheel watch: $82.50 put, earnings inside
The August 21 $82.50 put offered a $4.10 comparison credit with a 21.3% breakeven cushion. Intel reports July 23, so the rich premium comes with a real gap risk.
CRDO wheel watch: the $170 put pays 5.5% in 37 days
CRDO’s August 21 $170 cash-secured put offers a 27.6% breakeven cushion and a 5.53% maximum return on reserved cash. The shares are below their 20- and 50-day averages, so the chart risk matters as much as the rich premium.
MRVL after the break: high premium, patience first
MRVL closed 7.75% lower at $217.53 on July 13, while August 21 put IV sat near 91% and only slightly above its three-month norm. The wheel lesson is stabilization first: the liquid $190–$200 zone offers measurable cushion, but not a valid setup without a base and a rechecked earnings date.