Option Premium Strategy: Multi-Ticker Wheel Trading with NVAX, RUM, MVIS, TLRY, CLOV

Introduction: Managing Multiple Tickers Systematically

Collecting over $250 in weekly option premium doesn't require trading a single concentrated position. Spreading option income strategies across multiple tickers diversifies risk while maintaining consistent cashflow. The challenge isn't finding opportunities—it's tracking every transaction accurately across multiple positions to ensure proper cost basis management.

This article demonstrates the complete workflow for managing five simultaneous option positions: NVAX (Novavax), RUM (Rumble), MVIS (MicroVision), TLRY (Tilray), and CLOV (Clover Health). Each position involves covered calls, cash-secured puts, or both sides of the wheel strategy. The systematic transaction logging approach prevents costly tracking errors that compound over time.

The session begins with December premium already totaling $769, with another $250+ about to be added from the day's transactions. This ongoing accumulation demonstrates how regular weekly execution across multiple positions builds substantial monthly income streams without requiring enormous capital or constant market monitoring.

The Transaction Logging Workflow

Systematic transaction logging transforms chaotic option trading into organized premium collection. Each position follows the same structured process regardless of ticker or strategy variation.

The Core Workflow Steps

Every transaction across all tickers follows this identical process:

1. Filter to Ticker: Navigate to the specific symbol in your tracking platform
2. Add New Position: Create a draft transaction entry for the option sold
3. Enter Transaction Details: Date, type (call/put), contracts, strike, expiration, premium
4. Generate Proposed Record: Let the platform calculate expected credit
5. Edit with Actual Amounts: Replace calculated values with real net credit after fees
6. Save Transaction: Move the entry to permanent transaction history
7. Verify Cost Basis Update: Confirm the transaction affected cost basis correctly

This seven-step process repeats for every single option sold. The consistency prevents errors and creates muscle memory that makes the workflow faster over time.

Why Every Field Matters

Transaction logging requires precision. Each field serves a specific purpose:

• Date: Establishes chronological order and enables tax reporting
• Type (Call/Put): Determines whether transaction affects shares or buying power
• Contracts: Scales the position size and premium calculation
• Strike Price: Sets the assignment price for cost basis calculations
• Expiration: Tracks time to expiration and identifies rolling opportunities
• Premium: The gross income before fees
• Commission: Per-contract brokerage fee
• Regulatory Fees: Exchange and clearing fees
• Net Credit: Actual cash deposited to account (premium minus all fees)

The net credit is the true number that matters. Premium minus fees equals the actual income received. Using gross premium without accounting for commissions and fees creates tracking errors that compound over time.

Position-by-Position Walkthrough

This session involved transactions across five different tickers. Each position demonstrates specific aspects of multi-ticker premium collection strategy.

MVIS (MicroVision): Long-Dated Covered Call

The MVIS position involved selling covered calls significantly further out in time than typical weekly strategies.

The key insight: sometimes you must extend expiration significantly to collect desired premium levels. MVIS wasn't offering sufficient premium on weekly or monthly expirations, so the strike moved out to five months to capture $0.18 per share.

The $3.50 strike sits above the position's $3.28 cost basis, ensuring no capital loss even if assigned. The five-month duration means this income is realized regardless of assignment, with the option either expiring worthless (keeping all premium) or getting exercised (selling shares at profit plus premium collected).

RUM (Rumble): Bilateral Trading

The RUM position demonstrates bilateral trading—selling both sides of the market simultaneously through covered calls on owned shares and cash-secured puts for potential accumulation.

Total RUM premium for these two transactions: $23.68. This bilateral approach generates income whether RUM moves up (call profit), down (put premium, potentially adding shares), or sideways (both options decay).

The position tracking shows RUM's cost basis steadily declining through consistent premium collection. The last price of $6.38 continues closing the gap with the premium-adjusted cost basis. Each premium dollar collected pulls the breakeven point closer to current market price.

NVAX (Novavax): Long-Term Cost Basis Reduction

NVAX represents a position requiring extended cost basis management. The original entry occurred at $40 per share, now reduced to $22.46 through systematic premium collection totaling over $2,000.

Total NVAX premium from these transactions: $84.02. More importantly, the cumulative premium collected on NVAX exceeds $2,000. This demonstrates the power of patient, systematic premium collection on positions acquired at unfavorable prices.

The current cost basis of $22.46 (simple) and $18.34 (premium-adjusted) represents significant improvement from the $40 entry. The stock trades around $9, still underwater, but the premium-adjusted cost basis shows the position has captured substantial value through option income while waiting for price recovery.

TLRY (Tilray): Completing the Position

The TLRY position initially involved only covered calls, creating an incomplete bilateral setup.

After logging the covered call, the absence of a corresponding cash-secured put became apparent. Bilateral trading requires both sides for maximum income potential. The decision: add a put position immediately.

Investigation revealed TLRY trading at $2.71 with limited premium availability at nearby strikes. Moving out 17 days captured sufficient premium to justify the $250 buying power commitment. The put was sold at $2.50 strike for approximately $0.12-$0.14 premium, generating $12+ in additional income while creating potential to add 100 shares if assigned.

This real-time adjustment demonstrates active position management—identifying incomplete strategies and correcting them immediately rather than waiting for the next planned trading session.

CLOV (Clover Health): Far Out-of-the-Money Calls

CLOV trading at $0.92 represents the challenge of low-priced stocks. Premium collection requires either very short durations or extended timeframes.

The $1.50 strike sits 63% above the current $0.92 stock price. This far out-of-the-money placement reduces assignment risk while still capturing meaningful premium through the extended timeframe. Four contracts covering 400 shares generates $37.35, adding to the multi-ticker income pool.

The decision not to sell puts on CLOV reflects the challenge of sub-$1 stocks. The $50 put (requiring $50 buying power) might not generate sufficient premium even at extended durations to justify the capital allocation. Sometimes the bilateral strategy makes sense, sometimes single-sided (calls only) provides better capital efficiency.

Understanding Cost Basis Impact

Every premium dollar collected affects cost basis differently depending on position specifics. Understanding these mechanics enables strategic strike selection and timing decisions.

Simple vs. Premium-Adjusted Cost Basis

Two cost basis numbers matter for option sellers:

• Simple Cost Basis: Average purchase price per share, calculated as total capital invested divided by share count. This number ignores all premium collected.
• Premium-Adjusted Cost Basis: Average cost after accounting for all option income. Calculated as (total capital invested minus total premium collected) divided by share count.

The difference between these numbers represents the cumulative benefit of the option selling strategy. For NVAX, simple cost basis of $22.46 versus premium-adjusted $18.34 shows $4.12 per share benefit from option income—multiplied across the full position, that's over $2,000 in collected premium reducing true breakeven.

How Covered Calls Affect Cost Basis

Selling covered calls reduces premium-adjusted cost basis immediately. If you own shares at $20 and sell a call for $0.50 premium, your premium-adjusted cost basis drops to $19.50. The shares now only need to reach $19.50 (not $20) for you to break even.

If the call gets assigned, you sell shares at the strike price. Your realized gain equals (strike price minus premium-adjusted cost basis) per share. The premium collected becomes permanent income whether assignment occurs or not.

How Cash-Secured Puts Affect Cost Basis

Cash-secured puts create proposed cost basis—what your cost basis would become if the put is assigned. Selling a $19 put for $0.65 premium creates a proposed purchase price of $18.35 ($19 strike minus $0.65 premium).

If the put expires worthless, you keep the premium with no share purchase. That premium becomes standalone income or reduces the cost basis on shares you already own, depending on position structure.

If assigned, you purchase shares at $19 but your effective cost is $18.35 due to the premium collected upfront. This assigned cost basis integrates into your overall average cost for that position.

The Compounding Effect

As premium accumulates over multiple cycles, the cost basis reduction compounds:

1. First premium collected reduces cost basis to point A
2. Second premium collected reduces from A to point B
3. Third premium collected reduces from B to point C

Each cycle works from the new, lower cost basis. Eventually, premium-adjusted cost basis can drop to zero or even negative—meaning you've collected more in premium than you paid for the shares. At that point, any price above zero generates profit.

NVAX demonstrates this trajectory. Starting at $40 cost basis, systematic premium collection over multiple months reduced it to $22.46 simple, $18.34 premium-adjusted. Continued execution will eventually drive premium-adjusted cost basis below the current $9 stock price, turning an underwater position into breakeven or profitable.

Multi-Ticker Management Systems

Trading five simultaneous positions requires organizational discipline that single-ticker strategies don't demand. The right systems prevent expensive mistakes.

The Transaction Checklist

Keep a physical or digital checklist of positions requiring attention each trading session:

Ticker	Action Needed	Logged?
MVIS	Log 5 call contracts	✓
RUM	Log 1 put, 1 call	✓
NVAX	Log 1 put, 2 calls	✓
TLRY	Log 3 calls, add put	✓
CLOV	Log 4 calls	✓

Work through the checklist systematically. Don't move to the next ticker until the current one is completely logged and verified. This linear approach prevents skipped transactions that create tracking errors.

Batch Trading vs. Continuous Execution

Two approaches to multi-ticker option selling:

• Batch Trading: Execute all trades in one focused session (usually morning of expiration or day after expiration), then log everything in a single tracking session
• Continuous Execution: Place trades throughout the week as opportunities arise, logging them immediately or in daily batches

Batch trading creates concentrated workload but ensures nothing is forgotten. The focused session covers all positions at once, making it easier to see the overall portfolio premium target.

Continuous execution spreads the workload but requires more disciplined immediate logging. The risk: forgetting to log a midweek trade and losing track of that premium in cost basis calculations.

Monthly Premium Targets

With multiple tickers, set portfolio-level monthly targets rather than per-ticker targets. The example position shows $769 collected in December so far, adding $270 from this session pushes the month above $1,000.

This portfolio approach allows flexibility—if one ticker offers poor premium, allocate more contracts to other tickers with better opportunity. The goal is total monthly income, not balanced income across all positions.

Position Completion Verification

After logging each ticker's transactions, verify completion:

1. Check cost basis change—did premium-adjusted cost basis decrease as expected?
2. Review active positions—are all open options showing with correct expirations?
3. Confirm premium total—does the cumulative premium match your records?
4. Cross-check account balance—does the platform balance match your brokerage?

These four verification steps catch errors before they compound. Finding a mismatch immediately allows correction. Discovering the error weeks later makes it difficult to identify which transaction was wrong.

Scaling from One Ticker to Many

Expanding from single-ticker to multi-ticker option income strategies requires both capital scaling and process refinement.

Capital Allocation Across Positions

With five tickers, you're not simply dividing capital equally. Allocation depends on:

• Premium Opportunity: Tickers offering better premium per dollar of capital deployed deserve larger allocation
• Conviction Level: Higher-quality underlyings where you're comfortable accumulating shares support larger positions
• Volatility: More volatile tickers require smaller position sizes to manage risk
• Price Level: Lower-priced stocks allow more contracts per dollar, potentially deserving larger share counts

The NVAX position represents significant capital ($22.46 cost basis × share count). CLOV at $0.92 requires far less capital for similar contract counts. This natural variation creates balanced total portfolio exposure even with unequal share counts across tickers.

Time Investment Reality

Adding tickers increases time commitment. The single session demonstrated in this example took approximately 15-20 minutes to log five tickers with multiple transactions each. That's roughly 3-4 minutes per ticker including transaction entry and verification.

The time investment scales roughly linearly: one ticker requires 3-4 minutes weekly, five tickers require 15-20 minutes, ten tickers would require 30-40 minutes. Beyond ten positions, the tracking burden begins outweighing the diversification benefit for most traders.

Optimal Ticker Count

The sweet spot for most option income traders: 3-7 simultaneous positions.

• Below 3 positions: Insufficient diversification, single ticker moves create large portfolio swings
• 3-7 positions: Meaningful diversification without overwhelming tracking burden
• Above 7 positions: Diminishing diversification benefit, increasing tracking complexity

The five-ticker example sits in the optimal range—enough diversification to smooth volatility, manageable tracking workload, sufficient total premium to justify the strategy.

Adding Positions Gradually

Don't jump from one ticker to five immediately. The learning curve for multi-position tracking is real:

1. Master One Ticker: Learn the complete workflow on a single position before expanding
2. Add Second Ticker: Practice managing two positions simultaneously for a month
3. Add Third Ticker: Reach three positions and stabilize the workflow
4. Expand to 4-5: Add additional tickers only after the three-position workflow is automatic

This gradual scaling prevents the overwhelm that causes tracking errors. Each expansion phase cements the process before adding complexity.

Platform Requirements for Multi-Ticker Success

Managing multiple option positions simultaneously demands tracking infrastructure that spreadsheets can't provide. MyATMM addresses the specific challenges of multi-ticker premium collection.

Per-Ticker Cost Basis Isolation

Each ticker requires independent cost basis tracking. The platform isolates NVAX transactions from RUM transactions from MVIS transactions, preventing cross-contamination. This separation ensures that a $1 premium on NVAX reduces only NVAX's cost basis, not the portfolio-wide average.

Portfolio-Wide Premium Aggregation

While keeping cost basis separate per ticker, the platform aggregates total premium collected across all positions. The dashboard shows $769 December premium before the session, then updates to show $1,039+ after logging all five tickers' transactions. This portfolio view enables monthly income target tracking.

Active Position Expiration Tracking

With multiple tickers each having multiple open options, expiration tracking becomes critical. The platform displays all active positions sorted by expiration date, showing:

• Days until expiration
• Strike price
• Contracts open
• Premium collected when opened
• Current extrinsic value remaining

This consolidated expiration view prevents forgotten positions that expire without action being taken.

Transaction History Chronological Timeline

A complete chronological transaction log shows every option sold across all tickers in order of execution. This timeline creates an audit trail proving every premium dollar collected and enables analysis of which tickers generated the most income over specific timeframes.

Individual Ticker Position Pages

Each ticker maintains its own detailed position page showing:

• All transactions specific to that ticker
• Current share count and capital invested
• Simple and premium-adjusted cost basis
• Total premium collected lifetime
• Active open positions on that ticker
• Unrealized gain/loss at current prices

This per-ticker detail enables focused analysis of which positions are working and which need adjustment.

Account Balance Reconciliation

The platform tracks your brokerage account balance as it changes with each transaction. This calculated balance should match your actual brokerage balance exactly. The matching confirms that every transaction has been logged correctly with no missing or duplicate entries.

Conclusion: Building Diversified Income Through Systematic Execution

The $250+ premium collected across five tickers in this single session demonstrates that meaningful option income doesn't require concentrated single-ticker exposure. Spreading the wheel strategy across multiple underlyings diversifies risk while maintaining consistent total cashflow.

The key to multi-ticker success is systematic transaction logging. Each position follows the identical workflow: filter to ticker, add new transaction, enter details, verify calculated premium, edit with actual net credit, save permanently, confirm cost basis update. This consistency prevents errors as position count scales.

Strategic ticker selection matters. NVAX offers substantial premium but requires patience as cost basis slowly grinds down from $40 to current levels. RUM provides bilateral trading opportunities at moderate price levels. MVIS demands extended expirations for sufficient premium. TLRY and CLOV round out the portfolio with different risk/reward profiles. This variety ensures that some positions perform even when others stagnate.

Cost basis tracking drives the entire strategy. Knowing that NVAX has collected $2,000+ in premium transforming a $40 cost basis to $18.34 premium-adjusted provides confidence to continue the strategy. Without that tracking, you're trading blind—unable to identify which positions are working and which need adjustment.

Platform infrastructure makes multi-ticker trading practical. MyATMM isolates per-ticker cost basis while aggregating portfolio-wide premium. Active position tracking prevents forgotten expirations. Account reconciliation catches errors immediately. These features together transform chaotic multi-position trading into organized systematic execution.

The monthly premium accumulation tells the story: $769 in December before this session, $1,039+ after logging five tickers' transactions. Continued weekly execution will push December's total toward $1,200-1,500, demonstrating how regular multi-ticker strategies build substantial monthly income streams.

Start with one ticker, master the workflow completely, then gradually add positions. Three to five tickers provides meaningful diversification without overwhelming tracking requirements. The systematic approach compounds—both in premium collected and in workflow efficiency as the process becomes automatic.