OptWheel is a professional-grade toolkit for the option wheel — the strategy of selling cash-secured puts and covered calls for income. It prices, screens, monitors and stress-tests the trade honestly, teaches you what the numbers mean, and lets you practise on paper before a penny is at risk. It analyses; you decide.
Four workspaces — Learn, Course, Analysis and Trade — cover the full lifecycle: understand the strategy, size the trade, watch the market, and rehearse without risk.
Delayed real option chains with per-contract bid/ask, implied volatility and locally-computed deltas. A transparent screener scores cash-secured-put candidates on income, cushion, probability and instrument quality — with the reasoning spelled out.
Set a target delta and buffer zones around it. OptWheel polls hourly, tightens to every 30 then 5 minutes as your strike comes under pressure, and fires desktop notifications — while the app runs quietly in the system tray.
A guided wheel-cycle tracker plus a $1,000,000 sandbox account. Contracts settle at the expiry-day close, positions are marked live, and capital deployment shows what your collateral is really doing.
POP and expected P&L shown under both risk-neutral and real-world assumptions, side by side and labelled. Conditional loss given assignment, breakevens net of commission, Greeks, American early-exercise premium.
Simulate the wheel's own P&L distribution — fat left tail and capped upside included — under GBM, Student-t or jump models. Backtest against buy-and-hold and a CBOE PUT-style benchmark.
A structured course and plain-English explainers on strikes, deltas, assignment and the real risk profile — including the crash scenarios most wheel content glosses over.
Most retail options tools quietly show risk-neutral probabilities and theoretical fills. OptWheel's methodology is written down — 16 documented amendments, applied to every calculation and visible inside the product.
POP measured to breakeven (not the strike), risk-neutral and real-world figures labelled separately, and expected loss given assignment integrated properly instead of assumed.
IV rank and percentile from observed history, and Monte Carlo models with Student-t and jump options — because the wheel's losses live in the tails a normal curve doesn't show.
Every P&L figure is net of commissions. Capital requirements shown for both Reg-T cash-secured and portfolio-margin regimes.
The backtester states exactly what it ignores — slippage, early assignment, dividend timing — so you read results as evidence, not prophecy.
Subscriptions renew automatically and can be cancelled any time, effective at the end of the current billing period. See the Terms & Conditions for the full subscription terms.