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.
ACB is the single most important number for wheel traders. It tells you your true cost of owning shares after accounting for every premium you've collected.
Share Cost
$170.00
Premiums
$12.50
True ACB
$157.50
Every premium you collect lowers your effective price per share
Let's walk through a complete wheel cycle on AAPL and track how your ACB changes at every step. This is exactly what OptionWheelTracker calculates automatically.
Premium: $2.50/share × 100 shares. ACB impact: −$2.50/share
AAPL dropped below $170. You now own 100 shares.
Premium: $3.00/share × 100 shares. Expires worthless!
Premium: $3.50/share × 100 shares. AAPL rallies to $177!
AAPL closed above $175. Shares sold at strike price.
| Feature | Spreadsheet | WheelTracker |
|---|---|---|
| Auto ACB Calculation | ❌ Manual formulas | ✅ Instant |
| Rolling Trades | ❌ Complex to track | ✅ One click |
| Multi-Currency Support | ❌ Manual FX rates | ✅ Auto-fetched |
| Campaign Status Tracking | ❌ DIY columns | ✅ Automatic |
| Trade Timeline | ❌ Rows in a sheet | ✅ Visual timeline |
| Error-Prone | ⚠️ Very common | ✅ Validated inputs |
| Mobile Access | ❌ Clunky on phone | ✅ Responsive |