Modified wheel question

So I’m looking for a logic check to see if this strategy even makes sense. The “traditional” wheel seems to focus on accumulating cash, this one focuses on accumulating the underlying for the dividends (I know, exciting, but hear me out.) and kind of incorporates a short strangle. So. The idea is to select xyz corporation / etf and sell both puts and calls that are about 1 month out. If the share price stays between the two, let them expire and collect the credit. If the share price breaches the put strike, let it get assigned and pick up 100 shares - if it breaches the calls then roll them back a month. I would only be doing secured calls/puts with the number of short calls being equal to the number of hundred shares I have , the short puts would probably just be 1 per month so that I don’t pick up more than I can afford The goal is to get a bunch of qualified dividends for tax purposes and to have a relatively reliable income stream in 20+ years Thoughts?Mobdro Kodi

I think you should go to Deer Creek Speedway near Spring Valley Minnesota this Friday for the Fall Jamboree. You will learn everything you want about modified wheels. There were a bunch of USMTS modifieds in the pits already on Thursday night. The mods always put on a good show. The track is only 16 miles North of the Iowa- Minnesota border.