Since its launch in June 2020, The Daily Put-Writer has maintained consistent subscription pricing. During that time, the service has expanded significantly — with daily trade identification, continuous position tracking, and ongoing investment in research, data, and technology.
Beginning January 1, 2026, subscription rates for The Daily Put-Writer will increase.
Naked option writing is one of the most powerful strategies available to experienced options traders — and also one of the most misunderstood. While time decay can work strongly in the seller’s favor, the risks are real, margin requirements can expand quickly, and poor discipline can turn a single trade into a serious problem.
We recently upgraded our Free Probability Calculator, making it an even more useful tool for traders who want a deeper understanding of market expectations. The calculator helps estimate the probability of a stock finishing above or below a target price by expiration—a powerful perspective when evaluating strategies such as covered call writing, naked put-selling, or directional trades.
We’ve just published a detailed Substack post walking through the core principles of covered call writing—a strategy many traders use for income, but one that carries important nuances and risks. The post includes a full one-hour webinar from our archives, where I explain how to evaluate returns, incorporate probability and volatility, and manage positions with a disciplined framework.
If you’d like to watch the full video and access the complete write-up, it’s available to paid subscribers here:
Last week, I didn’t get all the statistics into the newsletter regarding the post-Thanksgiving trading, plus other related T-day trades. So, here’s a quick summary updated with current data.
First, we’ll repeat the one table that was in last week’s newsletter: Buy Russell 2000 ($RUT; IWM) on the close of day before Thanksgiving and holding through the second trading day of the new year:
Recently, I have been seeing some references to the “wheel” strategy. Of course, they come with all kinds of accolades about how you can’t lose, etc. I thought it might be a good time to discuss that strategy.
If we ask AI or Google “what is the wheel strategy?” we get back an answer similar to this:
The market has stalled near the top of the 6500-6900 trading range. This comes after a strong rally the week of Thanksgiving. But unless there is a clear breakout to new all-time highs, the trading range scenario is still dominant. Part of the problem may be the upcoming FOMC meeting, where we will learn on December 10th whether or not the Fed is going to lower rates again. It seems that the market is expecting that the rate cut will occur. If it doesn't, that could be problematic.
If you’re looking to strengthen your trading discipline, I’ve just posted a new Substack article and video on what I consider the most important part of trading: risk management. In it, I walk through position sizing models, trade adjustments, using the Greeks to monitor risk, and how to protect a portfolio as markets evolve.
The stock market sold off fairy heavily into the 6500-6550 support zone for $SPX on November 14, but then it rallied strongly off of that support area. That support has been tested several times and continues to get an A+ on the test. But overhead, there is a myriad of resistance, so for now $SPX remains in a trading range.
We have several seasonal trades around Thanksgiving, and we’ll get into those more in next week’s newsletter, but for now we want to prepare to enter the first part, which is the “Post-Thanksgiving Seasonal.” That trade is based on the fact that the market normally rallies right after Thanksgiving. Furthermore, the rally is typically in the small-caps, which have already started to accelerate and outperform this week...
