When I changed to grade 2/3 I asked my teacher colleagues what Word Study program they used. Here is the current program I follow which came from a friend, who got it from a friend and so on.
Monday - Write 5 new words for the week in a sentence
on a chart paper. Cover the word. Students guess the covered words. Discuss what the words have in common (word pattern). Students
write the words in their agenda.
Tuesday - Students box the words and write a sentence for each word. If students are unsure how to spell a word in the sentence, they underline the word. We share sentences at the carpet and 5 new students add sentences to the class list. When I review their notebooks, I use the editing marks. Students make corrections.
Wednesday - Whole group Hangman. Students follow along in their Spelling Journals. Like Hangman, students guess letters to reveal the mystery word. Choose 1 student to draw on the whiteboard. Students build small words from the mystery word.
Thursday - Word Sorting and Word Work Games.
Friday - Spelling quiz: 5 words + 1 bonus sentence. The sentence uses a few of the week's words. The sentence has to be completely correct, including all: spelling, capitalization and proper punctuation.
Each week as we edit writing, spelling or when students ask how to spell a word, I write it down. I add them to a pocket chart Words from Writing. We sort these words according to pattern rules on our word wall, or other sorting means. You can find 2 weeks of words from writing here.