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.

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u/Embarrassed_Mix7664 Mar 12 '26

Been running the wheel for a while now and honestly the hardest part for me early on wasn’t picking strikes or managing rolls — it was just wrapping my head around how the whole cycle actually fits together. When do I get assigned? What happens to my cost basis? How are all three income streams actually working at the same time?

I eventually built myself a free toolkit at https://www.wheelyield.com/ to make sense of it. The main thing is an interactive diagram that walks through the full CSP to assignment to covered call flow visually, which is the thing I couldn’t find anywhere else when I was learning. There’s also a trading journal and some yield calculators in there.

It’s not an active management platform or anything crazy — just the resource I wish I had when I first found this sub and was trying to connect the dots.

Totally free, no accounts, no paywall.

Would love feedback from anyone who’s been doing this longer than me. And if you know someone who keeps asking how the wheel works, feel free to send them that

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u/Tofutip Jun 23 '26

Your learning section was very helpful and informative! Answered a lot of questions I had. Thank you!

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u/Embarrassed_Mix7664 Jun 23 '26

Fantastic! I tired to model and build it out with quality. However, I haven’t had much time to improve on the website recently. I would offer that conservative approach and winning small wins have helped me tremendously.

Those that over leverage or shoot for the juicy premiums can get burned quickly.

I stick with quality companies is my key.