The options wheel strategy, end to end.
Screen cash-secured puts and covered calls, track your wheel cycles, backtest against real price history, and estimate your tax exposure — all in one place. Paper-trade today, trade live tomorrow.
Find your best candidates
Option Screener
Filter CSPs and covered calls by delta, DTE, and annualized return across your watchlist.
Fortune 500 Scanner
Scan the full F500 for wheel-eligible candidates ranked by risk-adjusted return.
Watchlist
Track the tickers you wheel and feed them straight into the screener and calendar.
Run the full wheel loop
Position Log
Log paper trades with live mark-to-market P&L, cycle history, and per-ticker win rates.
Long Options
Log the calls and puts you've bought, marked live and rolled into your net worth.
Alerts
Get notified when positions need attention — expiring soon, assigned, or due to roll.
Understand your edge
Wheel Simulator
Backtest the CSP → CC loop on historical price data, with premiums compounding across cycles.
Analytics & Tax
Per-ticker performance breakdown, annualized return on collateral, and estimated tax exposure on gains.
Common questions
Is Wheel Income free to use?
Yes. The screener, learning guides, and all ten wheel calculators are free with no signup. A free account adds paper-trade position tracking, watchlists, and alerts; a premium plan unlocks the Fortune 500 scanner, backtesting simulator, and full analytics.
Is this real-money trading?
No. Wheel Income is a paper-trading tracker — you log the trades you make or plan to make, and it computes P&L, cycle history, and returns. No brokerage is connected and no real money moves through the app.
What is the options wheel strategy?
The wheel is a cycle of selling cash-secured puts to collect premium, then, if assigned, selling covered calls against the shares until they're called away — repeating for recurring income. Read the full walkthrough in Learn.
Where does the market data come from?
Price, options chain, and earnings data come from third-party providers and are cached for performance — see the Data Sources page for exact providers and refresh windows.
Do the calculators send my numbers anywhere?
No — every calculator runs entirely in your browser. Nothing you type into a tool is sent to our servers.
Want to understand the strategy first?
Explore Learn →Ready to start?
Create an account to manage your portfolio, track positions, and run the screener.