Frequently Asked Questions

1. Sell cash-secured PUTs to collect premium
2. If assigned, own the stock at a reduced cost basis
3. Sell covered CALLs against your shares for more premium

It's called the "wheel" because you cycle through these steps repeatedly to generate consistent income.

1. Go to Trades → New Trade
2. Enter the ticker symbol (e.g., "AAPL")
3. Select type (PUT or CALL)
4. Select action (SELL_TO_OPEN)
5. Enter strike price and premium
6. Enter number of contracts and expiration date
7. Add any notes and click Create Trade

See the User Guide for detailed instructions.

• Roll the option: Close the current position and open a new one at a different strike or expiration
• Buy it back: Close the option before expiration
• Choose safer strikes: Sell PUTs farther out-of-the-money

• Quality companies: Stocks you'd actually want to own
• Stable blue chips: Lower volatility = more predictable
• Dividend payers: Extra income while holding shares
• Good liquidity: Adequate options volume for fair pricing

Popular choices: AAPL, MSFT, SPY, QQQ, INTC, F, AMD, NVDA

For PUTs: Choose strikes below the current price (out-of-the-money) at a price where you'd be happy owning the stock. Consider using technical support levels.

For CALLs: Choose strikes above your cost basis to ensure profitability if assigned. Many traders aim for 2-5% above current price for weekly options.

For trades: P&L = Premium Collected - Closing Cost (if any)

For positions: P&L = (Sale Price - Cost Basis) × Shares + All Associated CALL Premiums

Total portfolio: Sum of all trade premiums + all position gains/losses (both realized and unrealized)

See the User Guide for detailed calculations.

Benchmarks help you compare your wheel strategy performance against market indices like SPY or QQQ. To set up:

1. Go to Dashboard
2. Click "Add Market Benchmark"
3. Enter a ticker (SPY, QQQ, VTI), initial capital, and start date
4. View comparison charts to see if your strategy outperforms