How to Trade the Wheel Strategy Algorithmically With Alpaca (in Python)

Learn how to algorithmically trade the options wheel strategy (in Python) in our latest tutorial. To follow along with the code in the video, you can refer to our written tutorial https://tinyurl.com/27xtnvva or GitHub page: https://github.com/alpacahq/alpaca-py.... This tutorial is presented by Satoshi Ido, our Technical Marketing Associate. 0:00 - Introduction 0:40 - The wheel strategy: what it is and why traders use it 1:40 - Important disclosures to know when building a wheel strategy on Alpaca 3:00 - Connecting API keys, importing libraries, and setting up your client 4:00 - Creating the key parameters for the trading strategy including expiration range, buying power, spread widths, and stop-loss thresholds 5:10 - Calculating the implied volatility and factoring in the Greeks 6:50 - Step 1: Selecting the underlying stock with ATR 8:35 - Step 2: Selling cash-secured puts 15:00 - Step 3: Selling the covered call 19:45 - Step 4: Rolling and rinsing the wheel 24:25 - Conclusion Thank you for watching! Make sure to like and subscribe to our channel for future tutorials. And please comment below with any strategies you’d like us to test! Additional Resources: Sign up for a Trading API account: https://tinyurl.com/2cwrcte5 Login to your dashboard: https://tinyurl.com/2yh6j94b Start paper trading on Alpaca: https://tinyurl.com/287ycnoo Learn how to to trade options with Alpaca: https://tinyurl.com/2223z7s7 Read more options related content: https://tinyurl.com/25syhyuh Watch more YouTube tutorials:    / @alpacamarkets   Disclosures: Remember that some trading strategies, including options, are not suitable for all investors due to their inherent high risk, which can potentially result in significant losses. Please read Characteristics and Risks of Standardized Options https://www.theocc.com/company-inform... and other important disclosures which can be found in our disclosure library: https://alpaca.markets/disclosures. The views and opinions expressed by speakers are their own and do not represent Alpaca's views. Alpaca does not guarantee the completeness or accuracy of the information shared. Please note that we are using WMT as an example, and it should not be considered investment advice. All examples are for illustrative purposes only. Securities brokerage services are provided by Alpaca Securities LLC ("Alpaca Securities"), member FINRA/SIPC, a wholly-owned subsidiary of AlpacaDB, Inc. Technology and services are offered by AlpacaDB, Inc.Cryptocurrency services are made available by Alpaca Crypto LLC ("Alpaca Crypto"), a FinCEN registered money services business (NMLS # 2160858), and a wholly-owned subsidiary of AlpacaDB, Inc. Alpaca Crypto is not a member of SIPC or FINRA.