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The Till
Two Paths for a Wheel
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Two Paths for a Wheel

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Mark Phillips
Nov 19, 2024
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The Till
The Till
Two Paths for a Wheel
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A widescreen conceptual illustration of a metaphorical wheel rolling toward a fork in the road. One path leads to a gentle, rolling field with verdant, pastoral grass, symbolizing stability and calm. The other path is steep and scenic, with dramatic ups and downs, symbolizing volatility and excitement, yet equally beautiful with rocky landscapes and striking vistas. The wheel is central in the image, subtly glowing to highlight its metaphorical importance, with the fork in the road clearly visible. The scene is vibrant and inviting, with dynamic lighting to enhance the contrast between the two paths.

The wheel can take you many different directions. 

After mastering the covered call, the wheel trade is the next logical step for traders and investors looking to push the risk spectrum further. 

A major advantage of this structure is that it fits into our stock picking intuition. The derivatives are priced using higher order expectations about volatility…

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