The wheel is simple to describe and surprisingly easy to lose track of: a few weeks of puts, an assignment, a few months of calls, a call-away, and then it starts over. After two or three turns most people cannot say what their real cost basis is. This tracker keeps a running ledger and does that arithmetic for you.
Click Load example to see a finished wheel and a wheel in progress, then clear it and log your own trades. Your entries are stored in this browser only; nothing is uploaded, and you can export them as a CSV at any time.
How to log a wheel
Enter each event in the order it happened:
- Sold a cash-secured put. Strike, the premium you received per share, and the number of contracts.
- Put assigned. When a put finishes in the money and you are assigned, log the strike and contracts. The tracker adds 100 shares per contract at the strike.
- Sold a covered call. Same fields as the put.
- Shares called away. Log the strike and contracts; the tracker sells 100 shares per contract at the strike.
- Bought back a put or call you closed early, with the price you paid.
An option that expires worthless needs no entry, because no cash changes hands: the premium was recorded when you sold it. If you started the wheel with shares you already owned, log them as Bought shares (outside the wheel) at your cost.
What the table calculates
Net premium. Premium collected minus anything you paid to buy options back.
Stock P/L. Gains or losses on shares already sold, using your average cost per share.
Realized total. Net premium plus stock P/L. Shares you still hold are not marked to market, so a falling stock does not show up here until you sell.
Avg cost and breakeven. Average cost is what you paid for the shares you still hold. Breakeven is that cost minus every dollar of realized profit on the ticker, divided across the shares: the price at which you could sell today and finish exactly even. It is the number to check before you choose a covered call strike, since a strike below your breakeven locks in a loss if you are called away.
Return on capital. The realized total divided by the larger of your biggest cash-secured put and the most you have had invested in shares. Annualized scales that by the days from your first trade to your last (or to today, while you hold shares). It stays blank until there are 14 days of history, because annualizing a few days of results produces meaningless numbers.
Reading it honestly
A wheel that is “working” on this page can still be losing money in the real world. Premium income is steady and small; the risk is a stock that falls well below your cost basis while you hold it and sell cheap calls against it. Check the shares-held and breakeven columns as often as the premium columns, and compare the stock’s current price to your breakeven.
Read the full strategy, including when to roll, how to pick strikes and what can go wrong, in the wheel strategy explained. To work out the annualized yield of a single leg before you place it, use the annualized return calculator.
Educational use only. The tracker does not model dividends, fees, taxes, wash-sale rules or early assignment, and it is a bookkeeping aid rather than a record for tax filing. Check it against your broker’s statements.