A trade tracker built around how the wheel strategy actually works.
Most brokerages show each option trade as its own isolated row. That works for a single trade, but the wheel is a cycle: a put that is assigned becomes shares, those shares carry covered calls, and the calls eventually exit the position. Seeing how much a wheel really earned means stitching those pieces together by hand in a spreadsheet, which gets tedious and error-prone as you add tickers.
OptionsLoop does that linking automatically. It connects each cash-secured put to its assignment, each assignment to the shares, and each covered call to those shares, so cost basis and total profit and loss show up as a single number per wheel. It also tracks vertical spreads, iron condors, straddles and strangles, and calendar spreads for everything outside the wheel.
OptionsLoop is a record-keeping and analysis tool. It is not a broker, it does not place trades, and it does not give investment, tax, or legal advice. It reads only the data you enter or import. See the Privacy Policy for how that data is stored.
The guides on this site are written to explain how the wheel strategy and its mechanics work, with worked examples that use made-up prices. They are educational, not recommendations: they do not tell you which stocks to trade or promise returns, and they state the risks alongside the opportunities. When a topic depends on tax law or your personal situation, the guide says so and points you to a professional.
If you find a mistake or something unclear, please tell us. We correct errors rather than leaving them in place.
Start with The Wheel Strategy Explained, browse all guides, or look up a term in the glossary.
This page is educational content, not investment, tax, or legal advice. Options trading involves substantial risk, including the potential loss of your entire investment. OptionsLoop is a tracking tool, not a broker or investment adviser, and does not recommend specific securities or strategies. Examples use made-up prices for illustration.