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Free wheel strategy tools
Simple calculators and a tracker for the wheel strategy. Plug in a trade before you place it, check what your account can handle, and keep track of what you've collected. All free, no sign-up.
Cash-secured put calculator
Cash needed, break-even, return and annualized return for any put you're thinking of selling.
Covered call calculator
What a call pays, your profit if called away, and a warning if the strike is below your cost.
Roll calculator
Is the roll a credit or a debit? See your new break-even and what the extra days earn you.
Wheel account checker
Which strikes your account can cover, how many positions fit, and the cash kept in reserve.
Options income goal calculator
How much cash a monthly income goal would take, at a return you choose.
Wheel Trade Tracker spreadsheet
A free Excel and Google Sheets tracker for every put and call, your real cost per share, and monthly premium.
Which tool when
- Just starting? Use the account checker to see what you can afford, then the put calculator to size up your first trade.
- Got assigned? Switch to the covered call calculator and keep your strike at or above your real cost.
- Trade going against you? The roll calculator shows whether rolling actually pays.
- Every trade: log it in the tracker.
New to all of this? Start with the free Wheel 101 lessons. The tools make more sense once you know the steps.
Learn the rest with us
The free Discord is where questions get answered. Members also get the private channels with my full wheel log and weekly trade breakdowns.