Logan Sterling
Educational content only - not financial advice. See full disclaimer.

Assignment of the Week

Would You Take This Assignment? Weekly Wheel Strategy Puzzles

One short cash-secured put or covered call scenario a week. Each puzzle gives you the numbers, asks a single decision question, and hides the answer with the worked math so you can try it first. They take about two minutes, and they train the checks that matter before you sell an option: collateral, return on capital, annualized return, breakeven and what happens at assignment.

The puzzles

  1. #1: Assigned on a dip: $40 put sold for $1.00; Stock closes at $38; Assigned 100 shares.
  2. #2: Earnings inside the trade: Stock at $105; 45-day $100 put pays $2.50; Earnings in 20 days.
  3. #3: Which call after assignment?: Assigned at $50, basis $48.80; Stock now $45; $45 call $1.50 vs $49 call $0.20.
  4. #4: Too big?: $20,000 account; $150 stock, $150 put pays $4.50; 30 days to expiry.
  5. #5: Two strikes, same stock: 30 days to expiry; $45 put: $0.60, delta 0.20; $48 put: $1.40, delta 0.40.
  6. #6: Called away on a rocket: Basis $48.80; Sold $52 covered call for $0.90; Stock rips to $60, shares called away.
  7. #7: The thesis broke: Sold $30 put for $0.80, assigned; Company cut guidance; Stock now $21, basis $29.20.

A new puzzle is shared each week. Every one is hypothetical and built for practice, not a trade idea.

How to use them

Read the scenario, decide what you'd do, and write down the cost basis or return you expect. Then check it with the free wheel calculator and open the answer. If your number differs, the worked math shows which step went sideways.

Run your own numbers, then read the full cycle

Plug any put or call into the free, no-signup wheel calculator to see return on capital, annualized return and breakeven side by side.

The whole cycle (cash-secured put, assignment, covered call, and what to do when it goes wrong) is laid out step by step in Spin the Wheel, Cash the Checks by Logan Sterling (Kindle, $6.99, or free on Kindle Unlimited).

Open the wheel calculator Get the book on Amazon

Hypothetical numbers for teaching, not a trade recommendation. Educational only, not financial advice. Options involve risk. Selling options can result in substantial losses, and no particular result or income is guaranteed. See the full disclaimer.