Wealth Building With Options

Wealth Building With Options
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Welcome to the Wealth Building With Options Podcast with Dan Passarelli. This podcast is dedicated to making you a calm, consistent and confident options trader. Inside each episode, Passarelli, an options industry veteran, helps you avoid the common mistakes, pitfalls and misconceptions about options trading as a consistent wealth building activity. You will discover actionable strategies to build wealth using assets you may already own. With a primary focus on the traditional “Wheel Strategy,” Passarelli taps his 30+ years as a market maker on the Cboe floor and options educator for investment firms, traders and international governments to make the process simple, straightforward and effective. As a subscriber to the Wealth Building With Options Podcast you will gain the valuable insights only an experienced trader and educator can provide. You’ll discover the keys to making covered calls and cash-secured puts work for you as a consistent wealth building activity. Whether you are investing in an IRA, a fully funded trading account or are a hobby trader. This is the key to consistent income through options trading.

  1. Ep67 - Why Smart Traders Stay Stuck (and What Actually Changes It)

    1D AGO

    Ep67 - Why Smart Traders Stay Stuck (and What Actually Changes It)

    In this special episode, Dan and Market Taker Mentoring head coach John Kmiecik discuss one of the biggest challenges traders face: consistency. They explore why smart, hardworking traders still struggle despite studying strategies, taking courses and spending years trying to improve — and why the missing piece is often structure, accountability and personalized coaching rather than more information. Dan and John share powerful stories from their own trading careers; lessons learned from mentoring traders around the world; and practical insights into the psychology of execution, discipline, emotional control, and building a trading plan that actually fits a trader’s personality and lifestyle. The episode also dives into the importance of accountability, the role of coaching in accelerating growth and how small improvements compound into long-term trading success. Key Topics Why intelligent traders still struggle with consistency The emotional toll of feeling stuck in trading Trading psychology vs. technical knowledge Dan’s early experiences trading on the CBOE floor The difference between training and real-time execution Emotional discipline and risk management The power of incremental improvement in trading Coaching vs. generic trading courses How accountability changes trader behavior and confidence Why trading plans must match individual lifestyles and personalities Key Takeaways Trading success is not primarily about intelligence; it’s about execution, structure, discipline and emotional management. Most struggling traders already know enough technically but lack consistent accountability and process. A personalized trading plan is essential because trading is deeply individual. Coaching helps traders bridge the gap between knowledge and execution. Small, consistent improvements compound dramatically over time. Emotional decision-making and lack of structure are among the biggest causes of trading inconsistency. Successful traders document their decisions, review trades and follow predefined management rules. Accountability helps traders avoid self-sabotaging behaviors and emotional reactions. The goal of coaching is not just better trades; it’s transforming the trader. Connect Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Schedule a breakthrough trading call at MarketTaker.com/interested Get exclusive content including video trade walk-throughs, Dan's actual trades, monthly AMA webinars and more: wealthbuildingpodcast.com Subscribe on your preferred platform and leave a review to help more traders discover the show. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD), which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    55 min
  2. Ep66 - Interview with Kevin “Lex” Luthringshausen from Tradier

    MAY 12

    Ep66 - Interview with Kevin “Lex” Luthringshausen from Tradier

    Dan sits down with longtime options industry veteran Kevin “Lex” Luthringshausen to discuss the evolution of options trading, retail trading technology and what separates successful traders from struggling ones. From Lex’s early days as a market maker at the Chicago Board Options Exchange to today’s AI-driven trading landscape, the conversation explores how the industry has transformed over the past four decades. Dan and Lex also dive into covered calls, cash-secured puts, trade management, market efficiency, automation and the rise of zero-DTE trading. Along the way, Lex shares practical wisdom about discipline, emotional control and why having a structured trading plan is essential for long-term success. Key Topics How options trading has evolved since the 1980s The democratization of retail options trading The rise of automation, APIs and AI-assisted trading Zero-DTE trading and the growth of spread strategies Why discipline is critical for trading consistency Covered call and cash-secured put management techniques Rolling covered calls vs. assignment Market efficiency and implied volatility pricing The pros and cons of 24-hour options trading How Tradier’s API-driven brokerage ecosystem works Key Takeaways Retail traders today have unprecedented access to low-cost trading tools, education and automation. Consistency in trading often comes down to one thing: discipline. Emotional decision-making is one of the biggest obstacles to long-term trading success. Covered calls and cash-secured puts work best when traders are willing to own quality underlying stocks. Rolling covered calls can help traders maintain positions while continuing to generate income. Assignment on cash-secured puts should not be feared when trading fundamentally strong companies. Market makers and volatility models have made options pricing increasingly efficient over time. Automation and AI are rapidly reshaping how retail traders analyze and execute trades. Liquidity remains one of the biggest concerns for extended-hours and 24-hour trading markets. Connect Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Get exclusive content including video trade walk-throughs, Dan's actual trades, monthly AMA webinars and more: wealthbuildingpodcast.com Subscribe on your preferred platform and leave a review to help more traders discover the show Explore Tradier’s trading platform and API ecosystem: Tradier.com Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    25 min
  3. Ep65 - Best Markets for Wheel Trades

    MAY 5

    Ep65 - Best Markets for Wheel Trades

    Dan breaks down which market environments are most favorable for the wheel strategy and why. While sideways, range-bound markets create ideal conditions for consistent income through covered calls and cash-secured puts, trending markets introduce new challenges. Dan also dives into the psychological side of trading, explaining how regime changes can trigger emotional responses that impact decision-making and performance. Key Topics Why sideways (channel-bound) markets are ideal for wheel trading How market “regimes” impact options strategies Performance of covered calls and cash-secured puts in trending markets Why downward markets can still favor covered calls The challenges of rolling positions during strong trends Behavioral finance: loss aversion and regime shifts The “fight, flight or freeze” response in trading decisions How emotional reactions can derail trade management The importance of having a predefined plan and objective Key Takeaways Sideways markets are the sweet spot for the wheel strategy, offering smoother and more predictable income opportunities. Strong trending markets (up or down) tend to reduce the effectiveness of the wheel and require more active management. Covered calls can perform well in down markets, helping offset declines through premium collection. Frequent rolling in trending markets can lead to reduced profits or small losses across multiple cycles. Psychological responses to losses, especially after favorable conditions, can impair judgment. The “fight or flight” responses can be valid strategies, but “freeze” (inaction) is the most dangerous. Having a clear trade plan and management strategy is critical to avoiding emotional decision-making. Connect Order Building Wealth With Options on Amazon or your preferred retailer Or get a signed copy through the All-In Wealth Builder program (plus training and exclusive content) Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Subscribe on your preferred podcast platform and leave a review to help more traders discover the show. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    22 min
  4. Ep64 - Today Is the Day!

    APR 28

    Ep64 - Today Is the Day!

    In this milestone episode, Dan celebrates the official release of his new book, Build Consistent Wealth With Options. He reflects on the journey behind the book—years of trading experience, teaching and refining the wheel strategy—and thanks listeners for being part of that process through the podcast. What began as a companion to the book evolved into a full educational series, documenting the concepts and insights that ultimately shaped the final product. Dan emphasizes that this book represents the culmination of decades of work and that, unlike many trading authors, he chose not to hold anything back. With early momentum already placing the book among top sellers in its category on Amazon, he encourages the community to support the launch and help it reach the No. 1 spot. Listeners can purchase the book through major retailers or receive a signed copy by joining the All-In Wealth Builder program, which also includes additional training, coaching and exclusive content. Connect Order Building Wealth With Options on Amazon or your preferred retailer Or get a signed copy through the All-In Wealth Builder program (plus training and exclusive content) Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Subscribe on your preferred podcast platform and leave a review to help more traders discover the show. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    9 min
  5. Ep63 - Poor Man’s Covered Calls

    APR 21

    Ep63 - Poor Man’s Covered Calls

    Dan breaks down the poor man’s covered call, a strategy that uses a longer-term in-the-money call instead of stock, paired with a shorter-term out-of-the-money call sold against it. The result is a capital-efficient alternative to a traditional covered call, with less downside exposure but its own tradeoffs in time decay, volatility and assignment risk. Dan explains how to set these trades up, what greeks matter most, and how to manage and roll them effectively. Key Topics What a poor man’s covered call is and why traders use it How a diagonal call spread mimics a covered call with less capital Why the long in-the-money call acts as a stock proxy The built-in downside protection of owning a call instead of stock How time value creates both protection cost and opportunity Why these setups can work especially well after a stock has fallen sharply The role of delta, theta and vega in building the trade Why positive theta is essential to making the strategy work Using resistance and skate-objective thinking for the short call How to manage the trade by rolling the short call up and out Why assignment on the short call should be avoided When to exit the entire trade instead of continuing to roll Key Takeaways A poor man’s covered call is not really a covered call. It’s a diagonal spread that behaves similarly, but the short call is not actually covered by stock. The long call reduces capital requirements. That makes the strategy useful for smaller accounts or for traders who want to deploy less cash. Downside risk is limited. Since you own a call instead of stock, the maximum loss is what you paid for the long call. The long call also has a cost. Its time value acts like the price paid for that built-in protection. Theta is the engine. The strategy works best when the short call decays faster than the long call, producing net positive theta. Strike selection matters a lot. The long strike controls delta; the short strike must balance premium, theta and room for the stock to rise. Resistance helps with the short call. Since this is always a skate-objective trade, technical analysis matters for choosing a short strike the stock is less likely to breach. Management is active. Ideally, the stock rises toward but not through the short strike, allowing repeated roll-ups and more premium collection. Avoid short-call assignment. If the short call moves in the money, action is usually needed because there is no stock to deliver. This is more of a trade than an investment. If the stock behaves differently than expected, it may make more sense to exit than to keep adjusting.  Connect Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Get exclusive content including video trade walk-throughs, Dan's actual trades, monthly AMA webinars and more: wealthbuildingpodcast.com Subscribe on your preferred platform and leave a review to help more traders discover the show. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    32 min
  6. Ep62 - Managing Cash Reserves for Wheel Traders

    APR 14

    Ep62 - Managing Cash Reserves for Wheel Traders

    Dan explains why cash management is more complicated than it first appears for wheel traders. It’s not just about how much of your account is “in cash,” but how much is actually available to trade, manage positions and respond to new opportunities. Dan walks through how account size, skill level, market conditions and strategy type all affect cash allocation, and he shares a real-world example of why being “fully invested” can leave you unable to close or roll a covered call when you need to. Key Topics Why cash management is trickier in options trading than it looks The difference between net liquidating value and actual available cash Why brokers show multiple cash categories and why that creates confusion How skill level should influence how much cash you keep reserved Why newer traders should keep a very high percentage of their account in cash How market conditions affect whether it makes sense to be more or less invested Why cash itself can be viewed as a position Strategy type and the role of cash in options-based investing How cash-secured puts tie up capital even though they bring in premium Why covered call traders need cash reserves for trade management A real example of being unable to buy back a short call due to insufficient available cash Why stock sales don’t instantly solve the problem because of T+1 settlement Key Takeaways Cash is not as simple as it looks on your screen. In options-enabled accounts, “cash” can mean several different things depending on the broker. Available cash matters more than headline account value. A high account balance doesn’t help if you can’t actually use the cash to manage a trade. Newer traders should stay heavily in cash. Until your system is proven in practice, preserving flexibility matters more than maximizing deployment. Being fully invested can create management risk. You may not be able to close or roll short options if you don’t have enough free cash available. Cash-secured puts consume more usable capital than many traders realize. The premium comes in, but the strike value is still tied up for margin. Covered calls require reserve cash too. Even though they reduce risk, you still need cash on hand to buy back short options when necessary. Settlement timing matters. Selling stock today may not free up usable cash until the next trading day. Cash reserves are part of the strategy. They are not idle money if they help you manage risk, maintain flexibility and stay in control. Connect Learn more about host Dan Passarelli and Market Taker Mentoring: MarketTaker.com Get exclusive content including video trade walk-throughs, Dan's actual trades, monthly AMA webinars and more: wealthbuildingpodcast.com Subscribe on your preferred platform and leave a review to help more traders discover the show. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    28 min
  7. Ep61 - Rich People Problems

    APR 7

    Ep61 - Rich People Problems

    In this episode of Wealth Building with Options, Dan Passarelli tackles a unique—but very real—challenge faced by investors with large, concentrated stock positions. If a significant portion of your wealth is tied up in a single stock—whether from years at a company, stock-based compensation, or inheritance—you may face a difficult tradeoff: Sell shares and trigger a large tax bill Or hold the position and limit your flexibility But what happens when you’re generating income with covered calls… and suddenly get assigned? That’s where things can get complicated. What You’ll Discover in This Episode Why concentrated stock positions can create hidden tax risks How covered call assignment can trigger unexpected tax consequences What “tax lot selection” is—and why it matters more than most traders realize How settlement timing (T+1) can create strategic opportunities A little-known tactic that may help reduce tax impact when assigned The Core Idea Many brokers allow you to choose which shares are sold (or assigned) when closing a position—this is called tax lot selection. If used correctly, this can potentially: Protect low-cost basis shares Reduce taxable gains Give you more control over assignment outcomes In certain situations, it may even be possible to: Purchase new shares Assign those instead of your long-held, low-basis shares But—and this is critical—this strategy depends heavily on: Your broker’s capabilities Current tax laws Your specific financial situation Important Disclaimer This is not a one-size-fits-all strategy. Before attempting anything discussed in this episode, you should: Speak with your broker Consult your CPA or tax professional Rules, policies, and tax implications can vary—and mistakes here can be costly. Why This Matters for Wheel Traders Even if you’re not sitting on a massive concentrated position, this concept is still highly relevant. If you trade: Covered calls Cash-secured puts The Wheel strategy Understanding how assignment works at the tax lot level can give you: More control More flexibility Potentially better after-tax outcomes Resources Mentioned Get updates and bonuses for Dan’s upcoming book: BCWWO.com Become a paid subscriber for additional training, trade ideas, and live sessions: wealthbuildingpodcast.com Final Thought Building wealth isn’t just about making money—it’s about keeping more of what you make.And sometimes, the difference comes down to knowing the rules most traders overlook. Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document   Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.     Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    15 min
  8. Ep60 - Fear and Loathing In The Stock Market

    MAR 31

    Ep60 - Fear and Loathing In The Stock Market

    When markets crash, most investors panic. They react emotionally. They sell at the worst possible time. And they miss the very opportunities that could change their long-term results. In this episode, Dan Passarelli breaks down what really happens during market selloffs—and how disciplined traders can position themselves to take advantage of fear instead of being controlled by it. Key Topics Why fear drives irrational behavior during market crashes What “capitulation” really means—and why it matters How V-shaped recoveries form (and why they happen so fast) The relationship between falling markets and rising implied volatility Why most traders buy puts at exactly the wrong time How experienced traders use volatility spikes to their advantage A real-world breakdown of trading through the 2020 market crash The long-term mindset required to execute during extreme market conditions Key Insight When fear peaks, opportunity is often highest. Implied volatility surges, prices disconnect from reality, and emotional selling creates mispricing. Traders who stay patient—and think long term—can position themselves to benefit. Connect Get updates and bonuses for Dan’s upcoming book: https://BCWWO.com Become a premium subscriber: https://wealthbuildingpodcast.com Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, investors must read Characteristics and Risks of Standardized Options (ODD) which can be found at https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document Don’t trade with money you are not prepared to lose. Anything discussed on this show is intended to be generalized information and not intended to be a recommendation to buy or sell any security. The host and guests are not familiar with listeners’ specific situations. For trading information relevant to your specific needs, speak with a licensed broker or advisor.   Trumpet Trumpet Fanfare by bevibeldesign -- https://freesound.org/s/350428/ -- License: Creative Commons 0 Wah Wah Wah Wah wah trumpet failed joke punch line.wav by Doctor_Jekyll -- https://freesound.org/s/240195/ -- License: Attribution 4.0 Dramatic Drum Roll dramatic drum roll.wav by ingsey101 -- https://freesound.org/s/51401/  -- License: Attribution 3.0

    27 min
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5
out of 5
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About

Welcome to the Wealth Building With Options Podcast with Dan Passarelli. This podcast is dedicated to making you a calm, consistent and confident options trader. Inside each episode, Passarelli, an options industry veteran, helps you avoid the common mistakes, pitfalls and misconceptions about options trading as a consistent wealth building activity. You will discover actionable strategies to build wealth using assets you may already own. With a primary focus on the traditional “Wheel Strategy,” Passarelli taps his 30+ years as a market maker on the Cboe floor and options educator for investment firms, traders and international governments to make the process simple, straightforward and effective. As a subscriber to the Wealth Building With Options Podcast you will gain the valuable insights only an experienced trader and educator can provide. You’ll discover the keys to making covered calls and cash-secured puts work for you as a consistent wealth building activity. Whether you are investing in an IRA, a fully funded trading account or are a hobby trader. This is the key to consistent income through options trading.

Information

  • Creator
    Wealth Building With Options
  • Years Active
    2025 - 2026
  • Episodes
    67
  • Rating
    Clean
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    Wealth Building With Options

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