Dan Sheridan – The Wheel Strategy

Instructor: Dan Sheridan
Course Format: On-Demand Video Course (Recorded Live Sessions)
Skill Level: Intermediate to Advanced Options Traders

Course Overview:
In The Wheel Strategy, Dan Sheridan introduces a highly effective and versatile options trading strategy designed for generating consistent income through selling options. The Wheel Strategy is an advanced technique based on selling puts to acquire stocks at a favorable price and then selling covered calls on those stocks to generate monthly income. This mechanical income-producing strategy works well in neutral to slightly bullish market conditions and is ideal for traders looking for a systematic approach to trading while managing risk.

Throughout this course, Dan will guide you step-by-step through the entire Wheel process, from setting up your initial put selling position to managing the covered call phase. You’ll learn how to implement this strategy using multiple stock positions, all while maintaining defined risk and consistent income generation. Dan will also explain key adjustments and optimizations you can make when the market moves in unexpected ways.

This strategy is perfect for traders seeking to profit from time decay (Theta) and the sale of options premiums while maintaining an elevated probability of success. Whether you are new to the Wheel or an experienced trader looking to refine your technique, this course will provide valuable insights and practical tools for executing and managing this high-probability income strategy.

What You’ll Learn:
✔️ The core principles behind the Wheel Strategy and how it combines selling puts and selling covered calls to create a self-sustaining income stream
✔️ How to select the best stocks and strike prices for the Wheel Strategy to maximize the potential for success while managing risk
✔️ Step-by-step instructions for implementing the put selling phase: how to select expiration dates, strike prices, and manage the assignment risk
✔️ How to transition from the put selling phase to the covered call phase and manage the positions when your stock is assigned
✔️ The mechanics of selling covered calls: understanding call premiums, strike prices, and managing assignment risk in the call-selling phase
✔️ How to adjust your strategy when a stock is assigned early or when the market moves in an unexpected direction
✔️ Techniques for managing multiple positions at once and how to scale into and scale out of the Wheel Strategy for maximum profitability
✔️ How to implement risk management techniques to ensure you’re not overexposed on any single position
✔️ Methods for improving your returns on investment (ROI) while maintaining lower capital risk through effective trade management
✔️ Real-world examples and case studies showing how to execute, manage, and adjust the Wheel Strategy to adapt to market changes
✔️ How to maintain discipline and trade consistently while managing the emotional aspects of the Wheel Strategy

Course Includes:
✔️ Full access to all recorded live sessions, where Dan explains the strategy and breaks down real trades from start to finish
✔️ Downloadable guides and checklists to help you set up, manage, and adjust your Wheel positions
✔️ Trade logs and worksheets for tracking your Wheel positions, profits, and risk management techniques
✔️ Access to tools for calculating position sizing, risk-to-reward ratios, and adjustments
✔️ Bonus content on how to scale the Wheel Strategy across multiple stocks to generate higher monthly income
✔️ Access to Dan’s adjustment techniques for managing positions that are in or near the money, keeping risk under control in volatile markets
✔️ Bonus: Real-world walkthroughs of successful Wheel Strategy trades, highlighting important adjustments and trade management decisions

Why Choose the Wheel Strategy?
The Wheel Strategy is one of the most popular income-generating strategies in the options market because it offers traders the ability to earn regular premiums while managing risk in a controlled way. Whether you’re looking to generate passive income, buy stocks at a discount, or simply utilize time decay to your advantage, the Wheel Strategy provides a mechanical, repeatable method for profitable trading. The strategy thrives in:

• Neutral to slightly bullish market conditions where stocks are expected to stay within a reasonable range
• Income-focused traders looking for a high-probability, low-risk strategy
• Traders who prefer strategies that are easy to implement but still provide significant returns
• Those seeking a structured, systematic approach to trading that doesn't require constantly monitoring the market for changes
• Investors who want to generate regular income while managing risk through stock ownership and options selling

Who This Course Is For:

• Intermediate to advanced options traders who are familiar with basic strategies like selling puts and covered calls and want to learn how to combine them into a cohesive strategy
• Traders seeking to generate consistent income through options selling in neutral to slightly bullish market conditions
• Investors looking for a mechanical income strategy that allows them to profit from time decay (Theta) and options premiums
• Those who want to reduce risk exposure while maintaining control over multiple stock positions
• Traders looking for a systematic, repeatable process to grow their portfolio with minimal exposure to large losses
• Anyone who wants to learn how to implement risk management techniques while executing income-generating options strategies

About Dan Sheridan:
Dan Sheridan is a veteran options trader with over 30 years of experience in the markets. As a former market maker at the Chicago Board Options Exchange (CBOE) and the founder of Sheridan Options Mentoring, Dan has taught thousands of traders how to successfully trade options using high-probability strategies like the Wheel Strategy. Known for his clear, structured teaching style and practical focus, Dan specializes in helping traders develop disciplined, systematic approaches that minimize risk and maximize consistent profitability. His strategies have helped traders generate income and manage risk effectively in a variety of market conditions.