User Guide

1. Adding Cash

Before you start trading, record the cash you have available in your brokerage account. This lets Wheel Tracker compare your portfolio performance against a SPY buy-and-hold benchmark.

1. Navigate to Deposits in the sidebar.
2. Click Add Deposit.
3. Enter the amount and date that match your brokerage account deposit.
4. Click Save.

If you withdraw money from your brokerage account, record a withdrawal on the same page so the benchmark stays in sync.

2. Opening Trades

There are two ways to create a new trade:

• From the Wheels page — click Sell PUT on any wheel card to open a pre-filled trade form for that ticker.
• From the Trades page — click New Trade to open a blank form.

Trade form fields

3. Managing Open Trades

Open trades appear on the Trades page with status OPEN. Each trade has action buttons depending on its type:

4. Positions from Assignment

When you mark a PUT trade as assigned, Wheel Tracker automatically creates a stock position:

• Ticker & shares are copied from the original PUT trade (contracts × 100).
• Cost basis is set to the strike price of the assigned PUT.
• The new position appears on the Positions page.

While a position is open, Wheel Tracker fetches the current stock price and shows your unrealized P&L (current market value minus cost basis). This updates each time you visit the Positions page.

5. Selling Covered Calls

Once you own shares from a PUT assignment, you can sell covered CALLs to collect additional premium.

1. Go to the Wheels page and find the position card for that ticker.
2. Click Sell CALL. The form is pre-filled with the ticker and type set to CALL.
3. Enter the strike price, premium, contracts, and expiration date.
4. Submit the trade.

Three possible outcomes

6. The Wheel Cycle

The wheel strategy is a repeating cycle. Here's how all the pieces fit together:

The Wheels page groups your trades and positions by ticker so you can see exactly where each stock is in its wheel cycle. Each wheel card shows open PUTs, active positions, and covered CALLs for that ticker in one place.

7. Reading Your Dashboard

The Dashboard gives you a top-level view of your portfolio. It is organized into three rows:

Charts

Below the summary cards you'll find performance charts including cumulative P&L over time, a portfolio value line chart compared to the SPY benchmark, and a breakdown of premium income by month.