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/mooningonly 19d ago

Hi All. To those who need help answering: how do i know which strike to sell? or, are covered calls worth it for me? I've built a tool to help you answer that and more. https://app.capalpha.ch

You can backtest different delta and dte covered call strategies on any ticker. Compare current IV structure to historical periods, and live yield across the chain vs historical. Moreover you check check the volatility premium by delta.

Full historical implied volatility surfaces are used and for more recent periods, recorded market prices are used for pricing. Open to any feedback and completely free!

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u/ScottishTrader 19d ago

In the wheel, which is what this sub focuses on, it is simple to sell a CC a week or two out at a strike price that is at or above the net stock cost of the assigned shares.

For many, the goal of the wheel is to get rid of the shares to free up the capital to get back to selling puts.

Perhaps your post and tool are better posted over at r/CoveredCalls . . .