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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.
Episodes
Tuesday Jun 17, 2025
Tuesday Jun 17, 2025
In this episode of Wealth Building with Options, Dan dives deep into the three critical criteria for selecting the best strike and expiration when selling cash-secured puts:
- Support levels
- Theta (both straight and aggregate)
- Implied volatility and skew
Dan breaks down the logic behind what makes these factors so valuable—especially for investors who want to either generate premium or strategically acquire stock. He shares some "campfire knowledge" and real-world tactics that go far beyond theory and into practical application.
Dan is joined by John Kmiecik, who shares how he guides students to find optimal support levels using multiple timeframes, how he filters out the chart “noise,” and what technical indicators (like RSI and moving averages) may or may not be worth your time.
Whether you're trying to invest more confidently or fine-tune your entry points, this episode will give you a sharper lens for executing cash-secured put strategies like a pro.
What You’ll Learn
- Why support lines are crucial for choosing put strikes—and how to spot them using multiple timeframes
- The difference between straight theta and aggregate theta—and how both affect decision-making
- How to evaluate weekend theta and avoid the trap of holding options through unnecessary decay
- Why volatility skew (vertical and horizontal) matters when selecting expirations and strikes
- How to think in terms of 7-day decay periods to uncover the best value across different expirations
- Why trading doesn’t have to be overcomplicated—and how to eliminate the noise from your charts
Memorable Quotes
“Some of this is campfire knowledge... but a lot of it is what I’ve learned from trading for decades.” — Dan Passarelli
“Support and resistance have made it through thick and thin with me. I’ve divorced a lot of technical indicators, but I’m still married to support.” — John Kmiecik
“It’s not just about the flat theta number—it’s about knowing what that number really means over time.” — John Kmiecik
Resources & Extras
- Video Extra: Visual breakdown of straight vs. aggregate theta (available to premium subscribers)
- Characteristics and Risks of Standardized Options (Options Disclosure Document)
- Subscribe for bonus content at wealthbuildingwithoptions.substack.com
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