Update readme, bump version.

README.md

@@ -2,20 +2,59 @@
 
 ThetaGang is an [IBKR](https://www.interactivebrokers.com/) trading bot for
 collecting premium by selling options using "The Wheel" strategy. The Wheel
-is a strategy that [surfaced on Reddit](https://www.reddit.com/r/options/comments/a36k4j/the_wheel_aka_triple_income_strategy_explained/),
+is a strategy that [surfaced on
+Reddit](https://www.reddit.com/r/options/comments/a36k4j/the_wheel_aka_triple_income_strategy_explained/),
 but has been used by many in the past. This bot implements a slightly
 modified version of The Wheel, with my own personal tweaks.
 
 I've been streaming most of the work on this project [on Twitch, so follow me
 over there](https://www.twitch.tv/letsmakestuff).
 
+## How it works
+
+You should start by reading [the Reddit
+post](https://www.reddit.com/r/options/comments/a36k4j/the_wheel_aka_triple_income_strategy_explained/)
+to get some background.
+
+The strategy, as implemented here, does a few things differently from the one
+described in the post above. For one, it's intended to be used to augment a
+typical index-fund based portfolio with specific asset allocations. For
+example, you might want to use a 60/40 portfolio with SPY (S&P500 fund) and
+TLT (20 year treasury fund).
+
+You could use this tool on individual stocks, but I personally don't
+recommend it because I am not smart enough to understand which stocks to buy.
+That's why I just buy index funds.
+
+ThetaGang will try to acquire your desired allocation of each stock or ETF
+according to the weights you specify in the config. To acquire the positions,
+the script will write puts when conditions are met (adequate buying power,
+acceptable contracts are available, enough shares needed, etc).
+
+ThetaGang will continue to roll any open option positions indefinitely, with
+the only exception being ITM puts. Once puts are in the money, they will be
+ignored until they expire and are execised (after which you will own the
+underlying).
+
+In the case of deep ITM calls, the bot will prefer to roll the calls to next
+expiration rather than allowing the underlying to get called away. If you
+don't have adequate buying power available in your account, it's possible
+that the options may get exercised instead of rolling forward and the process
+starts back at the beginning. Please keep in mind this may have tax
+implications, but that is outside the scope of this README.
+
+In normal usage, you would run the script as a cronjob on a daily, hourly, or
+weekly basis according to your preferences.
+
 ## Requirements
 
 The bot is based on the [ib_insync](https://github.com/erdewit/ib_insync)
 library, and uses [IBC](https://github.com/IbcAlpha/IBC) for managing the API
 gateway.
 
-To use the bot, you'll need an Interactive Brokers account with a working installation of IBC. Additionally, you'll need an installation of Python 3.8 or newer with the [`poetry`](https://python-poetry.org/) package manager.
+To use the bot, you'll need an Interactive Brokers account with a working
+installation of IBC. Additionally, you'll need an installation of Python 3.8
+or newer with the [`poetry`](https://python-poetry.org/) package manager.
 
 ## Installation
 
@@ -35,9 +74,12 @@ My preferred way for running ThetaGang is to use a cronjob to execute Docker
 commands. I've built a Docker image as part of this project, which you can
 use with your installation.
 
-To run ThetaGang within Docker, you'll need to pass `config.ini` for [IBC configuration](https://github.com/IbcAlpha/IBC/blob/master/userguide.md) and [`thetagang.toml`](/thetagang.toml) for ThetaGang.
+To run ThetaGang within Docker, you'll need to pass `config.ini` for [IBC
+configuration](https://github.com/IbcAlpha/IBC/blob/master/userguide.md) and
+[`thetagang.toml`](/thetagang.toml) for ThetaGang.
 
-The easiest way to get the config files into the container is by mounting a volume. For example, you can use the following command:
+The easiest way to get the config files into the container is by mounting a
+volume. For example, you can use the following command:
 
 ```shell
 $ docker run --rm -it \
@@ -56,3 +98,4 @@ $ poetry run thetaging -h
 ...
 ```
 
+You are now ready to make a splash! 🐳