The Covered Call Mistake That's Costing You Thousands (Avoid At All Costs)

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Many traders running the Wheel strategy make one critical mistake that quietly erodes their returns: selling covered calls at a strike price below their effective cost basis. While this generates immediate premium, it effectively locks in a realized loss if the shares are called away, creating the illusion of progress while actually hindering your long-term profitability. In this video, I break down how to correctly calculate your effective cost basis—accounting for all collected premiums and dividends—and why maintaining discipline with your strike selection is the only way to ensure every exit is a profitable one