November 2025 –
I’m Earl, 51, dad of 3, ex-homeless, $2M net worth.
I work 25 hrs/week at $30/hr. My wife still works too (she loves it).
I’m home every day the kids aren’t in school — drop-offs, sick days, soccer practice.
I was never taught money. Just an employer funded 401k and no savings or investing until 45; And a bunch of debt.
But I got debt free and built a $350K Freedom Fund and planned to:
- Draw $2,500/month
- Live lean
- Coast to 59½ (my 401k eligibility age)
Then winter 2024 happened.
I was out of work after shoulder surgery and bored. Scrolling X., watching Bloomberg tv
Stumbled on “wheel options” — thought it was gambling.
I never planned to use wheel strategy FIRE to escape the matrix. No pros. No school. Just shoulder surgery, an internet connection, and a deep desire to hack my way to freedom.
One year later:
→ $78,767 in premiums
→ $1,512 average weekly
→ $0 withdrawn from Freedom Fund
→ Bills paid + $1,000+/month reinvested This is my real log — no fluff, no cherry-picking — so you can copy it and escape the grind. At the end of this article, I will even include a copy of my options tracking sheet which you can access, copy and use as your own.
What Is the Wheel Strategy? (60-Second Explainer)
The Wheel = 2-step cash machine:
- Sell a put → get paid to wait to buy a stock you want at a discount.
- If assigned → sell a call on those shares → get paid to hold or sell high.
Example:
- SPY at $600
- Sell $590 put for $300 → you keep $300
- If SPY drops → you buy 100 shares at $590 – $3 = $587 cost basis
- Then sell $610 call for $250 → another $250
- Repeat weekly
It’s not day trading.
It’s renting your cash to the market.
Premiums = rent.
My Accident: From $19 to $8,377 in One Week
Nov 2024: First trade → $19.32 (T call)
Dec 2024: Assigned NKE, INTC → started calls
June 2025: One AMD LEAP call → $8,377 in 5 days YTD Results (Nov 2024 – Oct 2025):
| Metric | Value |
|---|---|
| Total Premiums | $78,767 |
| Weekly Average | $1,512 |
| Monthly Average | $6,048 |
| Planned Drawdown | $2,500/mo |
| Extra to Reinvest | +$3,548/mo |
| Freedom Fund | Untouched → now $410K+ |
Peak Week: $8,377 (Jun 16–20)
Low Week: $19 (first trade)
52 weeks documented → full log in Google Sheet (#download)
10 Real Trades You Can Study (5 Puts + 5 Calls)
PUTS: Get Paid to Buy Low
| # | Date | Trade | Result | Profit |
|---|---|---|---|---|
| 1 | Dec 2, 2024 | NKE @ $78.50 → Sell 1x $78 put (7 DTE) | Expired worthless | $67.33 |
| 2 | Dec 9, 2024 | INTC @ $20.94 → Sell 2x $20.50 puts | Assigned 200 shares @ $20.50 – $0.28 = $20.22 cost | $54.67 |
| 3 | Dec 16, 2024 | AMD @ $125.67 → Sell 1x $125 put | Assigned 100 shares @ $125 – $2.30 = $122.70 cost | $229.33 |
| 4 | Jan 6, 2025 | SOFI @ $15.20 → Sell 4x $15 puts | Assigned 400 shares @ $15 – $0.29 = $14.71 cost | $113.91 |
| 5 | Jan 27, 2025 | AMD @ $117.78 → Sell 3x $116 puts | Expired worthless | $778.41 |
“I bought AMD at $122.70 when everyone was panicking and I doubled down at $110. Then sold calls on it. Win-win.”
CALLS: Get Paid to Sell High
| # | Date | Trade | Result | Profit |
|---|---|---|---|---|
| 1 | Nov 27, 2024 | T @ $19.10 → Sell 1x $24 call (30 DTE) | Expired worthless | $19.32 |
| 2 | Dec 16, 2024 | NKE @ $79 → Sell 3x $81 calls (7 DTE) | Called away @ $81 → $600 gain + premium | $562.00 |
| 3 | Jan 6, 2025 | DIA @ $429 → Sell 1x $436 call (39 DTE) | Expired worthless | $489.47 |
| 4 | Jun 20, 2025 | AMD @ $115 → Sell 10x $150 calls (Dec expiry) | Called away @ $150 → $35,000 gain + premium | $6,249.64 |
| 5 | Jul 29, 2025 | AMD @ $115 → Sell 10x $185 calls (Jan 2027 expiry) | Still open → $70K potential | $2,899.60 |
“One AMD LEAP paid for a year of braces. No joke.”
My Dad-Proof Wheel Rules
| Rule | Why It Works for Me |
|---|---|
| Only wheel what I’d hold 10 years | No panic selling |
| Max 20% of $350K per stock | Sleep through crashes |
| Weeklies on SPY/QQQ, LEAPs on AMD | Balance income + growth |
| Roll at 50% profit or 21 DTE | Lock gains, avoid greed |
| Set alerts — trade in 12 min/week | I’m at tee-ball, not the screen |
What This Means for My Family
| Before | After |
|---|---|
| Draw $2,500/mo | $0 |
| Reinvest: $0 | +$1,000+/mo |
| Kids’ college: $0 | +$18K in 529s |
| Vacations: budget | Disney, paid cash |
| Stress: “Will it last?” | “Which kid needs braces?” |
Your Turn
- Open a brokerage (Schwab, Tasty, IBKR) I use E-Trade.
- Paper trade 1 put this week
- Scale when you sleep through expiration Friday
Comment below:
- What’s your first wheel stock?
- Or drop your weekly avg — let’s see who’s crushing it.
P.S. This isn’t advice. I’m a dad who was never taught Financial Education, worked his ass off for over 30 years, had surgery, and accidentally built a cash machine.
Always Do your own research and talk to a pro.
As promised, here is your FREE gift. This is a google sheet that I created from scratch and I use to track every one of my options trades since I began trading wheel options. Make a copy and rename it and use it as your own
Drop a comment below, follow me on X, and bookmark this site for more helpful content updated regularly.
EarlyRetirementEarl.com
X: @misterash13
$1,512/week means I’m home when my kids get off the bus.
If you want to learn ALL of the tips, tricks, hacks and tools I used as I went through my hard knocks school of financial education, I have created a 48 Lesson Financial Literacy Couse called the Financial Freedom Compass and I have posted it on thie website for you to access 100% free.
Access the Financial Freedom Compass Here and Begin Your Journey to Financial Independence
Earl
He didn't just save his way to freedom; he built a compounding engine. By combining "Bogleheads" index investing with a conservative options strategy, Earl turned a late start into a total victory. He’s not just talking theory—he’s living the math. Last year alone, Earl generated $78k in options premiums via the "Wheel" strategy and ~$400/month in passive dividends, proving that liquidity is the true key to quitting early.
Launched in 2019, EarlyRetirementEarl.com is a no-BS zone for dads and late-starters who want actionable, battle-tested steps to freedom. Featured on ThinkSaveRetire and Camp Fire Finance, Earl’s mission is to share the financial literacy he was never taught in school. No fluff, no gurus—just the math.
Not financial advice. I’m not a CFP or licensed advisor. All numbers are historical; markets fluctuate. Past performance is not indicative of future results. Do your own research and consult a professional.
