Tool guide
Wheel Tracker
Run the wheel end-to-end: cash-secured put suggestions, assignment tracking, and covered-call income all in one place.
Open the tool →What it is
Manages the full cash-secured-put → covered-call lifecycle.
What it tracks
Track each leg from open through expiry, buy-back, assignment, or roll; roll chains accumulate premium across the whole position. The portfolio tab shows cumulative premium vs. a weekly income target, capital allocation, and an expiration calendar.
Workflow
- Open a Cash-Secured Put position from the CSP Wheel screener.
- If the put expires worthless, collect the premium and open the next CSP cycle.
- If assigned, the Wheel Tracker records the assignment and prompts you to open a Covered Call against your new shares.
- If the Covered Call is exercised (called away), the cycle closes and you start again.
The tracker tallies cumulative premium across all legs so you can measure your effective cost basis reduction over the full wheel cycle.
Concepts used here
- Return on capitalWeekly premium collected divided by collateral at risk — the income metric for put sellers.
- AssignmentWhen a short put expires in the money and you are required to buy 100 shares at the strike.