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Everything you need to understand Cash-Secured Put selling — from the basic strategy to the market forces that determine when and where to sell.
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Strategies

The core options income strategies behind ThetaLoop's research.

Cash-Secured Puts: Strategy, Win Rates, and Real Performance Data

95% win rate at 16-delta, 9.54% annualized over 32 years. Real data from CBOE and Tastytrade research.

Bull Put Spreads: Capital Efficiency, Win Rates, and Spread Width Math

19× capital efficiency vs. CSPs. Spread width math, win rates by delta, and broker margin comparison.

The Wheel Strategy: From Assignment to Systematic Income Loop

CSP → Assignment → Covered Calls → repeat. Full KO cycle, BXM index data, and why PTON destroyed the Wheel.

Market Concepts

Key market forces that drive options pricing and put-selling outcomes.

Theta Decay: The Real Numbers Behind Time Decay in Options

A $50 ATM option loses $0.017/day at 60 DTE but $0.153/day at 1 DTE. The real decay curve with Black-Scholes numbers.

The VIX Decoded: What Every Put Seller Needs to Know

Long-term average 19.5, mean reversion in days to weeks, 4.2-point risk premium. How to read VIX for put selling.

The 200-Day Moving Average: What 120 Years of Data Actually Show

120 years of data: half the drawdown of buy-and-hold, same returns. Golden cross 79% win rate.

Options Greeks for Put Sellers: Delta, Gamma, Theta, Vega Explained

Delta for strike selection, theta as your income, gamma as the danger zone. With an AAPL walkthrough example.

IV Crush and Earnings: The Math Every Put Seller Needs

IV drops 30-60% overnight after earnings. Why 70% win rate hides tail risk — META lost $2,374/contract in one session.

Risk Management

How to size positions, manage losing trades, and handle assignment.

Position Sizing for Put Sellers: The Rules That Prevent Portfolio Destruction

Why 3-5% per position, 50-70% deployment, 2-3 per sector. Three real crashes prove the math.

Rolling Cash-Secured Puts: When It Works, When to Stop, and the Real Math

Improves win rates from 73% to 78%. Three roll types, break-even math, and when to stop rolling.

Options Assignment: What Actually Happens When You Get Assigned

Only 7-10% of options are exercised. What happens in your account, T+1 settlement, and the tax math.

ThetaLoop Tools

How our research tools work and what the numbers mean.

How the X-Ray Score Works — Scoring Methodology

How the X-Ray Score combines regime, momentum, volatility, and price action.

📊 View Full Research Track Record (All Wins AND Losses)

These free tools show market conditions and individual scores.
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