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OpCalcWheel Tracker

Wheel Trackerbeta

The wheel isn't a position — it's a campaign. Log each event as it happens; see where you stand net of everything collected, and the odds on each next move.

Or build any position in the calculator and tap "Track this position" — it lands here with the legs already logged.
Campaigns live in this browser only — no account, nothing uploaded. Export a file copy from inside any campaign.

How the tracker works

A wheel campaign is a sequence: sell a cash-secured put, maybe get assigned, sell covered calls against the shares, maybe get called away, repeat. Most people track this in a spreadsheet and lose the thread after a few cycles. Here, you log events — a put sold, an expiry, an assignment, a call sold — and the tracker derives everything else from the ledger: campaign P/L, realized versus open, premium collected, and your effective share basis. Ground truth is cash-flow accounting; every other number reconciles to it exactly.

Odds, not recommendations

At every point the tracker shows your candidate next moves — hold, close, roll, sell a call — each with the probability the whole campaign ends profitable, the campaign break-even price, and the true odds of assignment. Assignment odds use N(d₂), the actual probability of finishing in the money, not delta — delta understates assignment risk, and the difference compounds over a campaign of weekly cycles. The tool never ranks the candidates. It shows the math; you decide.

What the numbers are — and aren't

Open legs are valued at Black-Scholes model prices at a disclosed volatility you control — an estimate, not your broker's mark. Probabilities are model estimates under stated assumptions, not predictions. Your campaign data lives in your browser only: no account, nothing uploaded. Export a JSON copy any time.

© 2026 OpCalc · Theoretical estimates only · For educational purposes · Not financial advice
Probabilities are model estimates based on Black-Scholes assumptions, not predictions of actual outcomes. · About · Terms · Privacy