The wheel strategy is a popular options trading methodology that generates income through selling cash-secured puts and covered calls. Proper execution of the wheel strategy requires meticulous tracking of your Adjusted Cost Basis (ACB), premium income, and roll cycles. OptionWheelTracker is the ultimate tool for theta gang traders to manage their wheel strategy campaigns, automate ACB calculations, and achieve consistent options income. By accurately logging assignments, tracking dividends, and monitoring net premium collected, OptionWheelTracker empowers options traders to maximize their return on capital and effectively lower their break-even prices over time.
Real math, real formulas, real pain points. Deep-dive guides on wheel strategy tracking, ACB calculations, spreadsheet failures, and the tools that fix them.
Most articles on the wheel strategy are confusing walls of text. This visual, step-by-step master guide breaks down the three phases — Cash-Secured Put, Assignment, and Covered Cal...
Stop guessing which stocks to wheel. This guide breaks down the 15 best stocks for the wheel strategy across three categories: Small Account Stocks (Under $20), Blue Chip Dividend ...
Every guide tells you how to make money. Almost nobody explains what to do when the stock crashes 20% and your put is deep in the money. This is the definitive guide on the math of...
Should you just buy 100 shares and sell covered calls, or run the full wheel strategy starting with cash-secured puts? We run the math on both approaches over a full year. Discover...
Think you need $30,000 to run the wheel strategy? You don't. This guide shows you exactly how to safely run the wheel with a small account (under $5,000). We cover the best low-pri...
Everyone wants to quit their job and trade options full-time. But can you actually make a living running the wheel strategy? We break down the realistic annualized returns of profe...
Forget messy spreadsheets. This guide provides the definitive option wheel strategy calculator formulas for Adjusted Cost Basis (ACB). Learn how to precisely track your cumulative ...
The wheel strategy requires frequent options trading, which means broker commissions and poor fills can eat a massive chunk of your profits. We reviewed the top brokers for 2026 — ...
Unlock the "double income" approach by running the wheel strategy on high-quality dividend stocks. Learn how to collect put premiums, get assigned right before the ex-dividend date...
The wheel strategy is highly forgiving, but beginners still manage to lose money by making these 5 critical errors. From selling puts on earnings week, to picking illiquid meme sto...
Confused about your real cost basis when running the wheel strategy? This step-by-step guide shows you the exact ACB formula used by professional wheel traders — covering CSP premi...
Your Google Sheets options tracker was working great — until it wasn't. This guide breaks down the 7 most common reasons wheel strategy spreadsheets fail: rolled trades that corrup...
Rolling a cash-secured put or covered call is one of the most powerful wheel strategy moves — and one of the fastest ways to wreck your spreadsheet. This guide shows you exactly ho...
Google Sheets was built for budgets, not options campaigns. This hands-on comparison reviews the top alternatives for wheel strategy traders in 2026 — OptionWheelTracker, OptionStr...
Getting assigned on a cash-secured put is not a loss — but most traders panic because they're looking at the wrong number. Your real break-even is your strike price minus every pre...
How much are you actually making from the wheel strategy? This free interactive guide gives you every formula you need: gross premium income, net premium after fees, return on capi...
Covered call tax reporting trips up even experienced traders. When a call expires worthless it's a short-term capital gain. When shares get called away, the premium gets added to y...
Most traders roll a CSP on instinct. Professional wheel traders roll based on four specific mathematical signals: the 21-DTE rule, the 50% profit threshold, a net credit minimum, a...
You've spent 40 hours on a beautiful Excel dashboard. VLOOKUP chains across 6 tabs, conditional formatting, custom charts. Then you roll one position and three formulas break. This...
Five contracts. Two get assigned. Three expire worthless. Now your spreadsheet is broken in three different places simultaneously. Partial assignments are rare but they destroy tra...
Not every stock makes a good wheel candidate. The ones that work have moderate implied volatility (IV Rank 25-50%), tight bid-ask spreads, a price your account can support, and fun...
That 1.5% weekly return sounds incredible — 78% annualized, right? Not really. The real annualized return for weekly put sellers is typically 20-40% lower once you account for idle...
You're ThetaGang. You sell premium every week and the numbers look great. But are they actually great? Most theta sellers dramatically overreport their returns by tracking gross pr...
If you're running the wheel on dividend payers like KO, JNJ, or PG, you're earning two income streams: option premiums and quarterly dividends. Whether dividends should reduce your...
ThinkOrSwim is a powerful platform for the wheel strategy — but exporting your trade history to a usable format is genuinely painful. The TOS activity statement mixes stock trades,...
Your Robinhood app says your AMD cost basis is $155. Your real cost basis is $141.50 — Robinhood just doesn't know about the $1,350 in CSP premiums you collected before assignment....
The most common question new wheel traders ask: "How much do I need to start?" The answer depends on which stocks you want to wheel, how many campaigns you want to run at once, and...
The covered strangle — selling a covered call and a cash-secured put on the same stock at the same time — doubles your premium income. It also creates a tracking nightmare that bre...
Your wheel campaign is underwater. The stock dropped 30% below your strike, your covered calls are collecting next to nothing, and you're staring at a big unrealized loss. Before y...
The wheel strategy is systematic enough to automate — but not everything should be automated. This guide walks through the full automation spectrum for wheel traders in 2026: from ...
The wheel strategy is a systematic options income approach that cycles through three phases: selling cash-secured puts, accepting stock assignment, and selling covered calls — over...
If you were going to buy shares of AAPL anyway, why not get paid to buy them at a discount? That's the simplest version of the wheel strategy's case against buy-and-hold. But the f...
Selling puts when IV Rank is at 15% is like working overtime for minimum wage. The market conditions you start in can dramatically impact your returns. This guide covers the four f...
Not every brokerage is built for wheel traders. Differences in commission structure, options approval requirements, assignment handling speed, platform tools, and data export capab...
Ready to place your first cash-secured put? This step-by-step action guide walks you through every decision — from choosing your first stock and reading the options chain to select...
Adjusted Cost Basis is the metric that separates wheel traders who actually know their profit from those who only think they do. While your broker shows you the price you paid for ...
Your broker already tracks your trades — so why keep a separate log? Because brokers think in individual transactions. You think in campaigns. There's no broker on earth that conne...
SEC filings — 10-K, 10-Q, and 8-K reports — contain information that can make or break a wheel campaign. Earnings surprises, debt covenant violations, insider selling, and guidance...
Most wheel strategy guides focus on how to start campaigns. Knowing when to end them is equally important — and far less discussed. This guide lays out seven specific, actionable e...
New wheel traders always ask: "Where does the money come from when I sell options?" It's a great question. The answer involves three distinct sources: theta decay (time value erosi...
Let OptionWheelTracker calculate your Adjusted Cost Basis automatically, so you can focus on finding the next trade.
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