Wheel Strategy Tracker — Full Cycle P&L in One Place
The wheel strategy is a cycle: sell a cash-secured put, get assigned shares, sell covered calls until the stock is called away — then repeat. Your broker shows individual trades. OptionIncome links them together as one connected strategy and tracks your true P&L from start to finish.
Adjusted cost basis — know your profitable strike
OptionIncome automatically detects your wheel cycle — no manual tagging needed. Every premium you collect from cash-secured puts and covered calls is applied against your share cost. Know the exact price where writing covered calls keeps you profitable — even when the stock drops.
See your total collected income alongside your current equity position, all in one place.
You control exactly what counts toward your wheel
OptionIncome groups option trades and assignments into the right wheel cycle automatically. But sometimes your history is messy — old cycles, stock bought outside the app, or trades you don't want included.
Use the Customize view to include or exclude any trade, add manual stock purchases, and make sure your adjusted cost basis and total premium reflect exactly the wheel you're running — nothing more, nothing less.
What option sellers are saying
“I just want to say it's really nice to now be able to have the actual cost basis. Whew.”
Paul R.
Wheel strategy trader
“The adjusted cost basis feature is the reason I subscribed. I finally know exactly where I need my covered call strike to stay green on my shares.”
Jie W.
Covered call seller
“I was using a Google Sheet to track my option trades. This replaced it completely — and it syncs automatically. Wish I found it sooner.”
Anthony L.
Options income investor
“Seeing my cumulative P&L curve since day one was eye-opening. I thought I was doing great — turns out two strategies were dragging everything down.”
James T.
Options seller
“The broker sync just works. Tastytrade connected in under a minute and all my trades were there. No manual entry at all.”
Vivek R.
Tastytrade user
Start tracking your wheel strategy today
OptionIncome is an options tracker designed for wheel, covered call, and cash-secured put strategies.
Need help getting started?
Check out our documentation or changelog for answers to common questions.
Also explore: Option Journal · Live Positions