Got Wheel... ?

We Have The Tracking Engine

Tired of keeping tab of your cost basis on sheets, in notes ... or even in your mind.


Save the pain

Get Started

We'll store, track, and even report performance on your Wheel trades.

What's in the Toolbox


Simply enter your trades as Sell Put / Buy Stock / Sell Call and that's it.

Features include:

Add Trade Edit Trade Close Trade

Add Notes Split Trade Merge Trade

Archive Trade Delete Trade Performance Charts

Running P&L Mark option expiry Mark option assignment Cost basis tracking Days in trade

Perfect... so how much does it cost?


Zip, nada, nothing!

Sweet - I'm In

Not there yet, no worries.

Take a look at our tutorial with some screenshots of the platform. That should give you a better insight.


Want to learn about the fundamentals of wheel options strategy... just keep scrolling down.

What is the Wheel Strategy?


The Wheel Options Strategy is a popular income-generating options trading method that combines cash-secured puts and covered calls.


Traders use it to steadily collect premium while aiming to buy quality stocks at a discount and sell them at a profit.


It's called the wheel because it follows a cycle:

  1. Sell Cash-Secured PutEarn premium while waiting to buy a stock at your chosen price.
  2. Get AssignedIf the stock price falls below your strike price, you buy the stock at that price.
  3. Sell Covered CallOnce you own the stock, sell calls against it to generate more premium.
  4. RepeatIf the stock is called away, you return to step one and sell puts again.

Why Traders Use the Wheel Strategy

Steady Income
Premiums from puts and calls can provide consistent cash flow.
Buy Stocks at a Discount
Selling puts lets you potentially acquire shares at a lower effective price.
Defined Risk
With cash-secured puts, your maximum loss is owning the stock you wanted anyway.
Flexibility
Works best with stable, fundamentally strong companies you don’t mind holding.

Example of the Wheel Strategy in Action


Step 0

You want to own XYZ stock, currently trading at $50.

Step 1

Sell a cash-secured put at $45 for $2 premium.

If XYZ stays above $45, you keep the $2 premium (repeat step 0).
If XYZ drops below $45, you get assigned 100 shares at $45 (effective cost = $43 after premium).
Step 2

Now that you own shares, sell a covered call at $50 for $2 premium.

If XYZ stays below $50, you keep shares + premium (repeat step 2).
If XYZ rises above $50, shares get called away at $50, and you keep the profit + premium.
Step 3

Return to selling puts and continue the cycle.

Risks to Consider

Downside Risk
If the stock keeps falling, you may be stuck holding a losing position.
Opportunity Cost
Selling calls caps your upside if the stock rallies sharply.
Capital Requirement
You need enough cash to secure puts and enough stock to cover calls.

Is the Wheel Strategy Right for You?



The Wheel Strategy works best for investors who:

  • Prefer steady income over big, quick gains.
  • Are comfortable owning shares long-term.
  • Have enough capital to secure puts and hold shares.



It's a conservative yet effective approach to blend options trading with long-term stock ownership.

Put Your Money In Motion


Track Your Wheel

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