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Understanding Your Trading Journal

The Journal serves as your central command center, providing a comprehensive overview of all active Wheel Strategy positions. It is designed to offer both high-level snapshots and granular, trade-level details.

Multi-Account Management

You can toggle between specific trading accounts or select "All Accounts" for a consolidated view of all your journals. This flexibility allows you to manage multiple brokerage accounts from a single interface.

Active Premium Snapshot

At the top of the Journal, you will find your Realized and Unrealized option premiums. This data represents the total income generated from all currently active sold Puts and Calls. These metrics reflect active Journal entries only and do not include archived data, ensuring your current exposure is always clear.

Organized Trade Views

To streamline your workflow, trades are categorized into two primary sections:

• Cash Secured Puts: Active Sold Puts listed in a collapsible accordion.
• Stock + Covered Calls: Active Buy Stock and Sold Call positions organized in a separate accordion.

Ticker-Level Intelligence

Within each section, trades are grouped by symbol. The accordion headers provide immediate insights, including:

• Position Count: The total number of open trades for that ticker.
• Cost Basis / Adjusted Cost Basis: Your real-time break-even point while holding shares, factoring in collected premiums and dividends.

Detailed Analysis & Actions

Expanding a symbol’s accordion reveals a detailed table of all associated trades.

• Symbol-Specific Metrics: View the specific realized and unrealized performance for that ticker.
• Sortable Data: Customize your view by sorting any column; the default view is set to Open Date (Descending).
• Trade Actions: Each row includes a suite of actions (Edit, Close, Archive, Delete, etc.) and a Note icon to access trade-specific logs.

Key Data Columns

While most data fields are intuitive, two specific columns provide critical timing and financial insights:

• Days: Tracks the total duration the trade has been active.
• $ Flow: Represents the net credit or debit recorded for that specific transaction.

Recording a New Trade

Location: Global Navigation Menu Add Trade

To log a new position, follow these steps:

1. Select Trade Type: Begin by choosing the appropriate trade type
   Sell Put Buy Stock Sell Call
2. Enter Trade Details: Complete the required fields to ensure accurate tracking.
3. Add Trading Note (Optional): Use the Note field to document your entry thesis, market sentiment, or specific reasoning behind the trade for future review.
4. Manage Transaction Fees (Optional): Maintain an accurate net profit-and-loss (P&L) statement by recording your brokerage costs.
   • Opening Fees: Enter these during the initial trade setup to calculate your net $ Flow.
   • Closing Fees: You will record these upon closing the position.

Modifying a Position

Location: Journal Pen icon button

Clicking the pen icon opens the Edit Trade interface, which pre-populates with your original entry data for quick adjustments.

• Pre-filled Data: All fields, including date(s), buy/sell price, strike, and trading account, are automatically loaded for review or correction.
• Immutable Fields: For data integrity purposes, the Trade Type (Cash-Secured Put, Buy Stock, or Covered Call) cannot be modified once a trade is established.
• Reclassification: If you need to change the fundamental type of a position, please delete the existing entry and create a new trade with the correct classification.

Closing a Position

Location: Journal Lock icon button

Selecting the lock icon initiates the Close Trade workflow. The interface displays the original trade details at the top for easy reference while you finalize the exit.

Impact on Analytics

• Performance Tracking: Please note that a trade is only integrated into your Performance Charts and realized P&L metrics once it has been officially closed.

Closing Types for Options

When closing a Cash-Secured Put or Covered Call, you must select the appropriate exit status between

• Buy To Close (BTC): Select this for active exits. You will need to provide the buy-back price and date to calculate the final P&L.
• Expired: Choosing this status automatically sets the buy price to $0.00 and the close date to the original expiration date. These fields will be disabled to ensure data accuracy.
• Assigned (Automatic Transition):
  • For Sell Put, marking a trade as "Assigned" triggers the next stage of the Wheel Strategy.
  • The system will automatically create a new Buy Stock position in your journal.
  • Automated Cost Basis: The cost basis for the new stock position is automatically calculated as: (Strike Price - Premium Received).

Archiving Completed Trades

Location: Journal Box icon button

The Purpose of Archiving

Maintaining an organized Journal is critical for accurate analysis. By archiving completed/closed positions, you ensure that your active view remains focused exclusively on current "Wheel" cycles, reducing visual clutter and improving dashboard performance.

Data Preservation

• Non-Destructive: Archiving a trade does not delete it. The record is simply transferred from the active Journal to the Archives repository.
• Active vs. Historical: Once archived, a trade is removed from your active premium snapshots but remains fully accessible for historical review.

Group Archiving

To streamline your workflow, you can archive all trades within a specific symbol grouping simultaneously.

• Requirement: To utilize the Group Archive feature, every position within that symbol grouping must be officially closed.

Historical Analysis

The Archives Page is a powerful tool for auditing your trading history. You can:

• Filter by Year: Evaluate your performance over specific fiscal periods.
• Advanced Search: Locate specific tickers or trade setups using custom search parameters.
• Column Sorting: Organize historical data by profit, duration, or strategy to identify your most successful trading patterns.

Deleting a Position

Location: Journal Bin icon button

Selecting the bin icon allows you to permanently remove a trade from your record. The interface will display the specific trade details to ensure the correct entry is targeted for removal.

When to Use Delete

While the Archive feature is the standard method for managing completed trades, the Delete function is reserved for:

• Removing duplicate trade logs.
• Correcting manual entry errors.
• Clearing test data.

Important Considerations

• Irreversible Action: Please exercise caution. Once a trade is deleted, all associated data is purged from the database and cannot be recovered.
• Impact on Metrics: Deleting a trade will immediately remove its influence from your current Journal snapshots and all historical performance analytics.

Reopening a Closed Position

Location: Journal Vertical ellipsis (menu) button Reopen

Selecting Reopen initiates a workflow to return a closed position to an open status. This interface provides a clear summary of which data points will be retained and which will be reset.

Primary Use Case

• Accidental Closure: Reversing a trade that was prematurely marked as "Closed," "Expired," or "Assigned."

Data Restoration Logic

When a trade is reopened, the system manages the transition to ensure your active dashboard metrics remain accurate:

• Retained Values: Core trade data—including the original ticker, entry date, and opening premium—will be fully preserved.
• Reset Values: Data specific to the exit (such as closing price, exit date, and closing fees) will be reset to allow for a fresh closure at a later time.
• Impact on Metrics: The trade will immediately reappear in your active Journal and its premium will once again be reflected in your Unrealized Premium snapshots.

Recording Dividends

Location: Journal Vertical ellipsis (menu) button for any "open" stock Add Dividend

The Add Dividend interface allows you to log distributions directly against your open stock positions. Documentation of these payments is essential for calculating your true adjusted cost basis.

Data Entry Guidelines

To ensure your performance analytics remain accurate, please follow these input requirements:

• Total Distribution Value: You must enter the Total Cash Amount received, rather than the dividend-per-share value. For example, if you hold 100 shares of a ticker and receive a dividend of $1.75 per share, you should enter $175.00 into the form.
• Optional Note: Use the note field to document the "Ex-Dividend" date or specific tax treatments for your records.

Impact on Your Portfolio

• Cost Basis Adjustment: Recorded dividends are automatically subtracted from your initial purchase price, providing a more accurate "Net Cost Basis" for your shares.
• Realized Income: These payments are categorized as realized gains and will be reflected in your performance analysis.

Managing Lot Sizes via Split Trade

Location: Journal Vertical ellipsis (menu) button Split

The Mechanics of Splitting

Unlike a corporate stock split, a Split Trade is a portfolio management action that allows you to divide the total quantity of a single position into two separate line items.

• Preserved Integrity: Every detail of the original trade—including the ticker, entry price, entry date, and strike is perfectly cloned into the new entries.
• Simple Input: To execute a split, you simply define the distribution between Quantity #1 and Quantity #2. The sum of these two must equal your original total lot size.

Strategic Use Cases

This feature is a powerful tool for traders who do not exit their entire position at once:

• Partial Exits: For example, if you hold 6 Cash-Secured Puts but only wish to close 2 to lock in profits, you can split the trade into a "4-lot" and a "2-lot." This allows you to close the smaller portion while keeping the larger portion active.
• Partial Assignments: In the odd case, if you are assigned only a portion of a larger contract set, splitting the trade ensures your Journal accurately reflects which contracts were assigned and which were not.

Workflow Efficiency

By splitting your trades, you maintain a cleaner audit trail. You avoid the "all-or-nothing" limitation of standard journaling, giving you the freedom to scale out of positions according to your personalized risk management rules.

Consolidating Positions via Merge Trade

Location: Journal Vertical ellipsis (menu) button Merge

The Mechanics of Consolidation

The Merge Trade function is designed to combine "lots" of the same asset purchased or sold at different times. By selecting a Primary Trade and one or more Secondary Trades, the system integrates them into a single line item.

• Automated Cost Basis: The system automatically performs the weighted-average calculations required to determine your new consolidated cost basis and/or total premium received.
• Data Accuracy: All historical data points are preserved within the new unified entry, ensuring your $ Flow and performance metrics remain precise.

Strategic Use Cases

This feature is particularly valuable for traders who scale into positions over time:

• Unified Exit Management: Let's say, if you accumulated 100 shares of a stock through two separate transactions (e.g., 60 shares and 40 shares) and intend to sell them as a single lot, merging them allows you to execute a single "Close Trade" action.
• Journal Cleanup: Reduce visual clutter by grouping identical stock buys or option contracts that were opened in stages into a single manageable entry.

Requirements for Merging

To maintain data integrity, the system enforces the following rules for consolidation:

• Asset Consistency: Trades must involve the same underlying ticker and trade type.
• Options Parity: For option contracts to be merged, they must share the exact same Strike Price and Expiration Date.
• Account Alignment: Only trades residing within the same trading account can be merged.

Visualizing Your Trading Success

Location: Global Navigation MenuPerformance

Annual Performance Metrics

Gain a high-level view of your portfolio's growth over time. Our dynamic charts allow you to break down your realized income and performance by:

• Strategy Type: Compare the profitability of your Cash-Secured Puts, Buy-and-Hold Stock positions, and Covered Calls.
• Symbol Analysis: Identify your most profitable tickers and see which assets are providing the most consistent premiums.

Assignment & Win Rate Analytics

Understanding your probability of assignment is key to managing risk.

• Assignment Percentage: Track how often your Puts and Calls result in assignment, expiring out-of-the-money, and if you have been closing them earlier.
• Win Rate Evaluation: Use these metrics to evaluate the effectiveness of your strike price selection and determine if you are trading within your preferred risk profile.

Growth & Future Insights

Our commitment is to your long-term success. As the platform evolves, we will continue to introduce advanced data visualizations—to ensure you have the most robust tools available for professional-grade analysis.

Leveraging Community Intelligence

Location: Global Navigation MenuCommunity

Trending Symbols

Identify where "smart money" is moving within the Wheel Tracking ecosystem. Our Trending Symbols engine tracks the most frequently journaled tickers over the last 30 days, giving you a real-time look at which stocks are currently offering the most attractive premiums or stability for the Wheel Strategy.

Trade Activity Feed

Gain inspiration from a log of latest trades taken by like-minded investors. By following the trades executed and journaled by our community, you can:

• Discover New Tickers: Find high-liquidity stocks that other traders are successfully "wheeling."
• Analyze Sentiment: Gauge whether the community is leaning toward aggressive Cash-Secured Puts or conservative Covered Calls.
• Benchmarking: Compare your entry strikes and expiration dates with the broader community to refine your own strategy.

Data Privacy

Your privacy is protected through strict anonymity, ensuring only basic trade mechanics are visible while personal identities and P/L details remain entirely private.