Free download
Free wheel strategy tracker spreadsheet
Tracking the wheel gets messy fast. Puts expire, some get assigned, calls get sold against the shares, and soon you can't remember what a stock really cost you. This spreadsheet keeps it all in one place. It's built the way I track my own wheel trades.
Free, no sign-up. Works in Excel, Google Sheets and Numbers.
What's inside
- Trade Log. One row per put or call you sell. It works out your net premium after fees and buy-backs, the cash secured, days held, and a rough annualized return.
- Stock Positions. When a put gets assigned, add the shares here. It shows your real cost per share after every premium you've collected on that stock, so you know where your covered call strike needs to be.
- Monthly Summary. Premium collected each month, trades opened, and your return on the cash you've set aside for the wheel.
How to use it
- Download it and open the Start Here tab. It explains the colors: you type in the yellow cells, and the gray cells calculate themselves.
- Log every trade when you open it. Date, ticker, put or call, strike, expiration, contracts, and the premium per share you sold at.
- Update it when the trade ends. Expired or assigned? Just set the outcome. Closed early? Add the date and what you paid to buy it back.
- Got assigned? Add a row on Stock Positions with the date your first put opened. Your real cost per share fills in from the trade log.
- Check Monthly Summary once a month. Enter the cash you've set aside for the wheel to see your return on it.
The first row on each tab is a made-up example (XYZ). Type over it or delete it.
Why your real cost per share matters
Say you sell a $50 put for $1.00 and get assigned. You paid $50 a share, but your real cost is $49, because the premium is yours to keep. Every covered call you sell lowers it a little more.
That number decides your next move. I only sell covered calls at or above my real cost, so I never lock in a loss when the shares get called away. The tracker keeps that number in front of you. More on this in Step 2: How to sell a covered call.
Planning a trade before you place it? Try the cash-secured put calculator and the covered call calculator.
Questions
Does the tracker work in Google Sheets?
Yes. Upload the file to Google Drive and open it with Google Sheets, or use File, then Import, in a new sheet. The formulas work the same way.
Does it connect to my broker?
No. You type each trade in yourself. It takes about a minute per trade, and it makes you look at every trade you place.
Can I use it for taxes?
No. It's for tracking your own progress. Use the forms your broker sends for tax reporting.