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Wheel Strategy Calculator

Plan Cash-Secured Puts to Covered Calls to Repeat

Planning the wheel strategy but not sure what your capital can earn? The wheel planner projects income and annual yield for your capital at illustrative premium rates, and the live scanner shows cash-secured puts with premium, ROI, and assignment odds to start the cycle.

Wheel Performance view in the portfolio tracker showing a completed AAPL cycle

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Problem

Wheel Strategy Income is Hard to Plan

Income Potential is a Guess — How much can your capital realistically generate?

Picking the First Put is Hard — Which strike and expiration should start the cycle?

Assignment Timing Ruins Your Plan — Early assignment changes everything

Solution

Wheel Strategy Calculator

Projected Income and Annual Yield

Illustrative rates scaled to your capital

3, 6, or 12-Month Timeframes

Assignment Odds for Live Cash-Secured Puts

Premium and ROI per Strike

Demo portfolio positions view with sample data

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Plan Your Wheel Cycle

Wheel Strategy Income Planner

Illustrative wheel income (selling puts + calls) at an assumed premium of 1.3% of capital per month. Not market data or backtest results.

Total Income in 6 Months
$3,900
$650/month average = 16% annual yield
Per Cycle
$975
Total Cycles
~4
Month-by-Month Income
Month 1Selling Puts
+$650Total: $650
Month 2Selling Calls
+$650Total: $1,300
Month 3Selling Puts
+$650Total: $1,950
Month 4Selling Calls
+$650Total: $2,600
Month 5Selling Puts
+$650Total: $3,250
Month 6Selling Calls
+$650Total: $3,900
How the Wheel Works
1.Sell cash-secured put to collect premium
2.If assigned to own shares at discount
3.Sell covered call to collect more premium
4.Repeat the cycle

Free account. Re-run this scan with live prices any time.

Find AAPL Options in Strategy Analyzer
Assumes the same premium rate every month; real premiums vary, and assignment can cause losses

Find Wheel-Ready Opportunities

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How it works

Get started in 3 simple steps

1

Enter Your Capital and Timeframe

The planner scales illustrative wheel income to your capital over 3, 6, or 12 months

2

Scan Live Cash-Secured Puts

See strike, DTE, premium, ROI, and assignment odds to start the cycle

3

Sell Covered Calls After Assignment

Open the Strategy Analyzer to find covered calls on the shares you were assigned

Complete AAPL Wheel Cycle

Entry: Bought 100 shares at $220

Leg 1 - Covered Call

  • Sold $245 strike call
  • Collected: $250
  • Outcome: Assigned (stock to $248)

Leg 2 - Cash-Secured Put

  • Sold $240 strike put
  • Collected: $200
  • Outcome: Assigned (stock fell to $238)

Cycle Results:

  • Total Premium: $450 ($250 + $200)
  • Capital Base: $24,500 (100 shares called away at $245)
  • Cycle Duration: 42 days
  • Cycle ROI (premium only): 1.84% ($450 ÷ $24,500)
  • Annualized ROI: ≈16% (1.84% × 365 ÷ 42)

Key Metrics

Example: Total Cycle Premium

$450

Example: Cycle Duration

42 days

Example: Cycle ROI (premium only)

1.84%

Example: Annualized ROI

≈16%

Related Resources

Wheel Strategy Complete DTE Playbook

Comprehensive DTE-focused guide for wheel strategy mastery

Learn more

Best Stocks for Wheel Strategy: High Volume & Liquid

Learn more

Rolling Covered Calls for Continuous Income

Learn more

Rolling Cash-Secured Puts for Continuous Income

Learn more

Wheel Strategy Explained

Complete beginner guide to the wheel strategy

Learn more

Learn Wheel Strategy

Master the wheel strategy with our comprehensive guides. Learn optimal DTE selection, stock selection, and how to maximize income across complete cycles.

Complete DTE Playbook

Master the wheel strategy with our comprehensive DTE-focused guide

Best Stocks for Wheel Strategy

High volume and liquid stocks perfect for wheel trading

Wheel Strategy Explained

Complete beginner guide to generating income with the wheel strategy

Frequently Asked Questions

Everything you need to know about getting started

What's the wheel strategy?

Buy shares to Sell covered call (collect premium) to Get assigned (sell shares at profit) to Sell cash-secured put (collect premium) to Get assigned (buy shares back at lower price) to Repeat.

Why use the wheel strategy?

Income generation (2 premiums per cycle), acquisition advantage (earn premium when buying), defined risk, and disciplined execution.

How often does the wheel complete?

Typically 6-12 weeks per full cycle, depending on DTE selections and assignment timing.

Can the wheel fail?

Yes. If the stock falls well below your cost basis, the loss on the shares can exceed all premiums collected. If it rallies far past your call strike, you miss the upside above it.

What's the best DTE for wheel strategy?

Weeklies (7 DTE): Higher annualized ROI, more cycles/year, but more admin work. Monthlies (30 DTE): Simpler, better premiums, less admin.

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