About Wheel Income

Wheel Income is a set of tools for people who sell cash-secured puts and covered calls, a repeating strategy known as the options wheel. It covers the whole cycle, from picking a stock to closing out the last covered call:

• A screener that ranks cash-secured put and covered call candidates by premium yield, delta, implied volatility and liquidity.
• A tracker that groups each put, assignment and covered call into one wheel cycle, so you can see the real return on the capital you tied up.
• A simulator that backtests the wheel on real price history, including the losing stretches.
• Free calculators and guides anyone can use without an account.

The wheel looks simple on paper, but tracking it is not. One position can turn into a dozen trades across puts, assignment, covered calls and rolls, and a spreadsheet quickly loses track of your actual cost basis and what you really earned on the cash you set aside.

Most options tools are built for active traders and show a single annualized yield that makes every trade look great. Wheel Income tries to show the rest of the picture too: how likely assignment is, how much capital is at risk, and why a big annualized number is not a forecast.

Wheel Income is built and run by ACT Logic LLC, a small independent software company. It has no ties to any broker and does not earn commissions on trades.

The site is supported by advertising and an optional paid plan. Neither changes what the screener ranks or what the guides say.

Stock quotes, price history and option chains come from free public market data sources. The data is cached and delayed, not real-time. Implied volatility, the Greeks and assignment probabilities are calculated by Wheel Income from that data using standard option pricing models.

Because the data is delayed, use Wheel Income to research and compare ideas, then confirm prices with your broker before placing a trade. The tracker runs on paper trades; it never connects to a brokerage account or moves money.

Each guide explains one part of the wheel in plain language, with worked examples and the risks alongside the benefits. Each calculator shows the formula it uses, so you can check the math yourself.

Pages are revised when the tools change or a reader reports an error. Nothing on this site is investment advice.

Found a mistake, a data problem or a missing feature? See the contact page.