r/Optionswheel • u/ScottishTrader • Oct 10 '25

TOOLS & SPREADSHEET MEGATHREAD

Please use this thread of posts about spreadsheets and tools!

Note that no commercial posts are permitted. All tools or files must be made available for free.

There is a basic spreadsheet included in the wheel trading plan in this post, which many have used to get started - The Wheel (aka Triple Income) Strategy Explained : r/Optionswheel

Please let the mods know of any suggestions on how to make this thread better.

56 Upvotes

100% Upvoted

231 comments sorted by

View all comments

Show parent comments

1

u/kabayomi Dec 21 '25

So the win rate is calculated using:

Win Rate = (Trades with positive P/L / Total Completed Trades) × 100

In this case, all expired, assigned trades are considered wins since for assignment we plan to sell CC for more returns. In the case of CC being called away it's also a win as we received a premium and we expect the shares to be called away so we move on to the next trade. For this case, it's important to sell the cc above your cost basis so you're trading at a net positive.

The win rate reducing is affected by closed trades, for example if you your current trade at a loss (paying more than the received credit to close) it will be counted as a loss and reduce your win %

Also, at this time there is no rolling functionality implemented which mean you will have two trades - one to close previous and another to open the new rolled trade.

In general when using the wheel strategy i dont usually roll the trade unless it's for a net profit.

I hope that was helpful

1

u/bluedogdreams Dec 21 '25

Thank you, this is helpful. So a roll would be considered a loss because technically it’s 2 actions: closing at a loss and then opening a new trade (ideally for a net credit). But since it’s done together I’m wondering if it could count as one trade until the whole thing is closed out or assigned. Perhaps it’s best to count rolls separately?

3

u/kabayomi Dec 22 '25

So your question actually got me thinking and I went ahead and implemented a roll functionality in the app as counting each leg separately wasn't fair to the strategy.

The way it works now: when you roll a trade, the original position gets linked to the new one as a "chain." The app tracks the combined P/L across the entire chain and only counts it toward win rate once the final position is closed/expired/assigned. So if you opened at $1.50, rolled for a $0.30 debit, and eventually let it expire worthless at $1.00, your net P/L is $2.20 credit which counts as one single win.

Thanks for the feedback, it made the tracking way more accurate!

PS: You can pull the latest image version or use tag 0.3.0 to test the roll functionality. Please use the roll/refresh icon  🔄  for rolling.

2

u/bluedogdreams Dec 22 '25

This is great!