Glossary
Assignment
When a short put expires in the money and you are required to buy 100 shares at the strike.
What it is
Assignment happens when a put you sold expires in the money and the counterparty exercises it — you are now required to buy 100 shares of the underlying at the strike price. This is the intended outcome of the Cash-Secured Put (CSP) strategy.
Why it is not a loss
The CSP strategy is designed around willingness to own the shares at the strike. You collected premium when you sold the put, so your effective cost basis is: strike − premium received. Assignment means you now own the stock at a discount to the strike.
Next step: the Covered Call
Once assigned, the Wheel strategy continues: you sell covered calls against your new shares to collect additional premium until the calls are exercised (called away) or you choose to close. The Wheel Tracker manages this entire lifecycle — CSP open → assignment → covered call → repeat.
Where you will see it
- Cash-Secured PutsPuts you would be happy to be assigned on, ranked by weekly return on capital with probability of profit and breakeven precalculated.
- Wheel TrackerRun the wheel end-to-end: cash-secured put suggestions, assignment tracking, and covered-call income all in one place.
- Dividend CalendarEx-dates, pay-dates, and yields in one view: time your income and dividend-capture trades without landing on the wrong side of an ex-date.