Disclaimer
Last updated: June 19, 2026
Not Financial Advice
Wheel Income is a paper-trading simulation tool for personal, educational use only. Nothing on this Service should be construed as financial, investment, tax, or legal advice. All information is provided solely for informational and educational purposes.
The operator of this Service is not a registered investment adviser, broker-dealer, financial planner, or any other type of licensed financial professional. Always consult a qualified financial adviser before making real investment decisions.
The Tax Estimate feature provides a simplified approximation using standard federal and state tax brackets and the information you provide. It does not account for deductions, credits, alternative minimum tax, or other factors that may affect your actual liability, and should not be relied upon when filing taxes or making financial decisions.
Paper Trading Only — No Real Money
All trades, positions, and P&L figures within the Service are entirely hypothetical simulations. No real orders are placed, no real capital is at risk, and no real profits or losses are incurred through use of this Service.
Simulated trading does not involve the financial risk associated with real trading. Results achieved in a simulated environment may differ materially from results in an actual trading account.
Market Data Accuracy
Market data, option chains, stock prices, implied volatility figures, earnings dates, and other financial data displayed in the Service are sourced from third-party providers and may be delayed, incomplete, or inaccurate. We make no representation or warranty as to the accuracy, reliability, timeliness, or completeness of any such data.
Data provided by this Service should not be relied upon for real trading decisions. Always verify data independently through your broker or a licensed data provider.
Past Simulated Performance
Any historical or backtested results, simulated P&L, win rates, or strategy performance figures shown in the Service are for illustrative purposes only. Past simulated performance is not indicative of future results, whether simulated or actual.
External Links and Data Sources
The Service may reference or link to external data sources, websites, or third-party services. We are not responsible for the content, accuracy, or availability of any external resources. References to external sources do not constitute endorsement.
Plain English Mode and Simplified Terminology
The Service offers an optional “Plain English” display mode that relabels standard options terminology using everyday rental analogies — for example, describing an option premium as “rent” or a strike price as an “agreed price.” This mode exists solely to help newer users build intuition. It is a teaching aid, not a definition.
These simplified labels are analogies and are deliberately imprecise. They do not describe the legal, contractual, economic, regulatory, or tax character of any options contract. Options are not rental agreements, leases, tenancies, deposits, loans, or interest-bearing instruments, and no real property, tenancy, or rental relationship of any kind is created or represented. Option premium is not rent and is not interest, and it is neither guaranteed nor fixed.
Plain English Mode changes displayed labels and explanatory text only. It does not change any calculation, figure, formula, or result produced by the Service.
Where the Plain English labels differ from, or appear to conflict with, standard options terminology, the standard terminology and your broker's own documentation govern. Before trading, rely on the official terminology and disclosures provided by your broker, including the Options Clearing Corporation's “Characteristics and Risks of Standardized Options,” and not on the simplified labels used here. Standard terminology is available at any time from the display-mode control in the navigation bar.
Tax treatment is determined by law, not by the labels shown in this Service. Amounts described as “rent” in Plain English Mode are not rental income and are generally not taxed as rental income. Do not rely on Plain English labels, or on the Tax Estimate feature, when characterizing transactions for tax purposes. Consult a qualified tax professional.
We make no representation or warranty that the simplified terminology is accurate, complete, or suitable for any purpose, and, to the fullest extent permitted by applicable law, we disclaim all liability for any loss or damage of any kind arising directly or indirectly from your use of, or reliance on, Plain English Mode or the analogies it employs.
Limitation of Liability
To the fullest extent permitted by applicable law, the Service operator expressly disclaims all liability for any loss or damage of any kind arising directly or indirectly from use of, or reliance on, any information or tools provided by this Service, including any trading or investment decisions made in reliance thereon.