The wheel's best feature is that it doesn't need you very often. The catch: when it does need you, it really does. A short weekly routine catches everything that matters and leaves day-to-day noise alone.
Sunday: the fifteen-minute scan
Before the week opens, look at three things. Which positions expire this week — and which are in the money? What's on the economic calendar — Fed days and CPI prints move everything, and there's no reason to open trades hours before them. Any earnings inside your open positions' lifetimes? That's the list of decisions the week will demand; everything else is optional.
Midweek: manage by rule, not by mood
Check positions against your playbook's exit rules, not against your feelings: buy back at 50% profit, roll or take assignment when tested, cut when the thesis breaks. If a trade hits a rule, act. If it doesn't, close the laptop. The traders who underperform their own strategy are almost always the ones making unscheduled decisions on Tuesday afternoons.
Friday: expiration housekeeping
Decide before the close, not during it: let winners expire, close anything you don't want to think about over the weekend, and queue next week's entries. Expiration-day improvisation is where good weeks go to die.
The weekly review nobody skips twice
Ten minutes after Friday's close: log what closed, tag any rule you broke, and glance at the running numbers — premium captured this week, win rate by strategy, capital deployed versus idle. The review is where trading skill actually accumulates; the trades are just where it gets tested. Do it for three months and the data starts telling you things about yourself that no course can.