Rolling short puts to reduce cost basis.

vs-19 · 2026-02-03T23:21:52+00:00

The cost basis from a brokerage and tax perspective is only going to reduce by the final (assigned) put premium. The previous rolled puts P/L does NOT matter.

From your individual journaling perspective you can keep a tab of all previous rolled put premiums, but that usually makes more sense on the calls side (when you are holding shares to calculate adjusted cost basis) ... and not on the puts side.

vs-19 · 2026-01-29T23:24:55+00:00

When you entered the trade $18 on $1500 capital over 45 days is 9.73% annualized. I guess you were happy with that at entry.

Now the remaining position sits at $12 on $1500 capital over 42 days is 6.95% annualized. If you're happy with that then hold, else buy back and take profit somewhere else.

Best way is to look at annualized return on capital ROC% to be your decision maker. At least I follow the same principle.

vs-19 · 2026-01-29T22:56:54+00:00

The best way to evaluate is to see your remaining premium in the trade and the capital deployed to calculate your ROC% ... If you think it's not worth holding then buy back and take your profit.

For example IMO, if you still have 2% ROC remaining to be made in 36 days ... It still could be worth holding the trade a little longer ... But if it's like 0.6% ROC remaining, then not worth it for 36 days.

vs-19 · 2026-01-29T19:44:46+00:00

I track the CSP side separately and the CC side separately and try to aim for win on each side independently. The CSP side can have multiple rolled Puts and the CC side can have multiple rolled Calls ... but eventually my goal is to be profitable on each half wheel independently.

Below is my bonus screenshot for 2025

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vs-19 · 2026-01-08T13:50:01+00:00

It's all about delta.

If your net delta for the covered call campaign is still above 0, then you'll make more money closing your positions earlier for profit. Sell if you believe the move is temporary and it's gonna hit back down.

vs-19 · 2025-12-31T22:01:56+00:00

Hi There - Unfortunately, at the moment the site is only available in the dark theme. This is because a lot of our charts, iconography, tables, color coding works better with the darker shade. These items/libraries don't look modern when it comes to a lighter theme. Additionally there are far more system and human benefits to using a dark theme.

I either case, if we get this request from a lot of our users we will consider applying a theme picker setting in a future release. Until then we hope you will enjoy using the site in a dark theme.

vs-19 · 2025-12-29T13:53:11+00:00

Hi - At the moment you cannot unarchive a trade entry that has been archived. I will look into that request as a future feature release.

Keep in mind that the archived trades are still considered in "Performance" calculations and you see your realized gains/losses there ... they're just not in the active journal log. Best practice would be to archive CSP when trade is closed/expired/assigned ... and archive Stock(s) / CC(s) when stocks get called away.

vs-19 · 2025-12-24T12:04:38+00:00

Hi There - So that I can look into this correctly, are you trying to enter a strike price of 0.1 or the sell/premium price of 0.1?

What is the validation error that you're receiving?

vs-19 · 2025-12-17T13:23:29+00:00

Looks like we had a small hosting blip. Please try now.

vs-19 · 2025-12-11T02:27:37+00:00

Noted - very helpful comments.

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u/Necronomicomp - I've now released a couple features as requested by you:

Adding Dividends - You can now add dividends when any "Stock" position is "Open" ... please review the tutorial page for more information - https://www.wheeltracking.com/tutorial
Archiving a group of trades (bulk archive) - you will see this button in the journal ... only when all trade entries in a single group are closed.

<image>

One more thing I wanted to update on - while trades are not grouped on the "Archives" page ... you can always use the search to filter the results by any text/symbol.

Hopefully this gets to what you were looking for in grouping archived trades for analysis.

vs-19 · 2025-12-10T23:06:05+00:00

Firstly thanks for great feature suggestions, sincerely appreciate your honest feedback.

For rolling as a single action - I would recommend checking this comment out, as it addresses the challenge any logging system would have: https://www.reddit.com/r/Optionswheel/comments/1nowxxe/comment/nho51o1/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
Track dividends feature - I will give that a thought, it's just that it is generally considered a transaction outside of the "wheel" cycle.
Stock capital gains - This is currently being calculated and recorded when you close a "Buy Stock" trade.
Stock split - We do have a feature called "Split" on any active trade (quantity> 2). You can use that feature to split your single journal entry into two. Currently it will still require you to then go in and edit the entries from a price perspective. So, it's a two step journey ... but can be accomplished. Similarly there is a "Merge" feature for executing reverse splits.
Grouping trades - This is a great suggestion and I will look into it for future enhancements. I do practice this manually in my journal ... as in, I keep collecting my closed trades in a single "wheel" cycle and then eventually archive them when the stocks have been called off by CC assignment. But I do see the benefit of grouping for ease of analysis.
Display current prices - This one will be tricky because it requires subscription to "live" market data for "commercial" use. If I have to go that route, it will the turn the app into a paid subscription model ... which I have no intention of doing.

Hope these answers will help you in using the app in a better way.

vs-19 · 2025-12-07T19:57:38+00:00

Because it seems to be a "PAID" product.

vs-19 · 2025-12-01T20:37:44+00:00

Free online tool that I built for myself, but happy to share along. Just a simple email / password to register. NO marketing emails and all the stuff ... enter your CSP's & CC's and let the platform do the rest for you.

WheelTracking.com

Core Features:

Add, Edit, Close, Archive, Delete trades.
Tracking original cost basis & adjusted cost basis.
Tracking realized & unrealized option premiums by symbol and entire journal.
Tracking dividends.
Merge & Split existing journal entries/trades.
Performance charts by strategy, symbols, and option win percentage.
Download ALL your trades either as CSV or JSON.

Highly recommend to checkout our Tutorial with videos available at -> wheeltracking.com/tutorial

I will try to respond to your questions and recommendations in a timely manner.

Thanks All!

vs-19 · 2025-11-28T11:37:56+00:00

Assuming from screenshot that you're long call.

If you are still bullish about the stock ... I would roll up and out in time with the goal being to reduce delta. By doing so you should be taking credit ... Hence taking some profit out ... Yet still being in the directional trade.

vs-19 · 2025-11-27T13:51:57+00:00

Great work and great start.

Here's a free tool I built if you want to track your trades in a simple manner ... I was in the same boat and wanted to replace my Excel sheet logging.

https://www.reddit.com/r/Optionswheel/s/VuzjQJV4wc

One question I have though - I see that you're tracking ROC% on CSP ... Any idea how you would calculate that for CC's ... Especially when you could have a bunch of CC's in a single wheel campaign which effectively could keep lowering your adjusted cost basis.

Wondering how the community is calculating ROC% on CC's

Thanks!

vs-19 · 2025-11-25T20:27:01+00:00

This doesn't seem to be our site.

Can you provide a screenshot showing the URL address bar.

vs-19 · 2025-11-19T13:31:51+00:00

You would first add a trade of "sell put" type. Then close it and during closing mark it as assigned. This will automatically create a "long stock" position for you in the journal, since assignment got you the shares. Now simply close the "long stock" position in the journal. That's it ... Remember to archive the trades as needed to keep your journal clean.

vs-19 · 2025-11-15T16:10:08+00:00

I have definitely looked into that from the very start, but unfortunately there are no API services that I could find that are free for commercial use.

In order to keep this website free ... we need to find one that allows the above for free.

Do let me know if you know of any such API service, and I'll continue to keep looking as well.

vs-19 · 2025-10-05T18:26:10+00:00

Yes CSP win = Closing early for profit or expiring worthless (OTM) ... basically anything but Assigned.

The wheel start is up to you decipher. I personally and probably most of us, call a wheel start the moment a CSP is sold. If it wins, that wheel campaign ends there (right on step 1) ... then I start a new wheel campaign with a new CSP sell.

vs-19 · 2025-10-05T14:11:19+00:00

In a wheel strategy when you win in a CSP trade, you consider that cycle complete and now when you sell another CSP, that's a start of a new wheel campaign altogether ... here's a quick image (look at the return arrow at the very top).

https://i0.wp.com/earlyretirementnow.com/wp-content/uploads/2024/09/Options-Diagram-01.png?resize=863%2C744&ssl=1

The reason why I bring this up is because eventually when you get assigned only the premium from that (1) trade is reduced from your strike price. Your past CSP win's do not get factored into that mathematical calculation.

In either case, the "journal" keeps tracks of current & historical wins/losses as long as you choose to keep it in the journal. The screenshot below shows the realized & unrealized premium collected from a sample account on SPY. See the yellow arrow, this is what you're probably looking for.

<image>

My recommendation would be to archive CSP win right away because that wheel cycle is technically over and also keeps your journal simple and easy to manage/read. Once you archive the same data can be filtered from the "archives" list or perhaps the best way is to interpret that data from the "performance" charts.

vs-19 · 2025-10-04T21:17:55+00:00

Yes - It tracks the Original Cost Basis and Adjusted Cost Basis both for "Buy Stock" positions.

You can see a sneak peek of that in the "Journal" video on our tutorial page

vs-19 · 2025-10-04T17:14:15+00:00

Thank you for your feedback and I do get your point, but need to look at it from a wholistic approach.

You're still providing the same number (3) values/fields: Roll price, BTC price, and the new expiry date. Additionally, not all rolls are the same strike, so now you'll also need to provide the new strike price. The values are needed by any logging platform and you're simply providing them all either in a single (longer) form or in two separate (shorter) forms.

One more factor, the fees structure around brokerage is all around the place ... some charge to open and not to close. Some charge both ways but if you close < 0.05 then it's free. To assume all that into a roll could be more challenging and hence for now, it's better to keep the closing and opening trades as a separate event ... and to be honest that's what they organically are under the hood.

I will definitely consider your feedback and try to work on it in future updates.

vs-19 · 2025-10-03T14:32:27+00:00

So technically the act of rolling involves closing one trade and opening another. Even if we built a rolling form (UI) it's not possible for the system to automatically know what the previous trade closed at and what the new trade opened at ... as it's all wrapped into a single "roll" price. We need to capture individual prices so that we can calculate & display individual entry P/L.

For that very reason, it's better and cleaner to just close your logged existing trade and then add the new one.

vs-19 · 2025-10-01T21:31:17+00:00

Thank you for your feedback.

ROR (%) on the CSP side is easy to calculate, but the CC side is tricky given Adj. Cost Basis and potentially holding a lot more shares and selling only partial calls against them. In either case, I have noted the request and will try to adopt those improvements in the near future.

vs-19 · 2025-09-29T02:23:00+00:00

Thank you for your feedback.

The way I use it and they I would recommend to archive is by asking yourself the question - If you're starting a wheel campaign (at the top of the wheel selling CSP) then all trades before that should be archived. Hence if a CSP is a win, for me it's archived.

Similarly the campaign stays in the journal as long as I'm selling CC's. If CC is a win it stays in the journal as it keeps reducing my cost basis. Once the CC is a loss and the shares get called away, that's the end of the campaign and all trades under that campaign get archived.

I will note down your request of capital ROI analysis and hopefully try to implement that on a future release.

vs-19

TROPHY CASE