Updated September 2026
The wheel strategy has a simple loop: sell a cash-secured put on a stock you'd be happy to own → if it's assigned, you now own 100 shares per contract → sell covered calls against those shares → if they're called away, you're back to cash and can sell another put. Each leg is easy to track alone. What's genuinely hard is tracking both legs, across multiple tickers, across multiple broker accounts, without losing track of which account owns which shares and which account's cash is tied up in which puts.
A basic spreadsheet can log a list of trades, but the wheel needs two different kinds of running totals at once — dollars for the put side, shares (per ticker, per account) for the call side — and they don't combine into one number. Add a second or third broker account and a spreadsheet either grows a separate tab per account (easy to lose track of totals) or mixes accounts in one sheet (easy to double-count or miss a shortfall in one specific account). This tracker keeps a single dashboard: cash needed for open puts and shares needed for open calls are always shown separately, broken out per account tag, so a broker × account combination (Fidelity-Roth, IBKR-Margin, anywhere) is one row you can scan rather than one tab you have to reconcile.
A typical wheel entry looks like this in the tracker:
The tracker doesn't auto-detect assignment (that information only exists at your broker), but every other part of the arithmetic — cash coverage, share coverage, live P/L, days to expiration, annualized yield — updates automatically as you record each step.
Every open position, put or call, gets a live-priced P/L column using real option market data (about 15 minutes delayed) — premium collected minus what it would cost to close that specific position right now — plus a color-coded in-the-money/out-of-the-money flag so you can see at a glance which legs of the wheel are at risk of assignment across your whole portfolio, not just the one you happen to be looking at in a single broker's app.
Because the wheel is really a sequence of trades, not one holding period, each leg gets its own annualized yield computed from its own entry-to-expiration window (when you supply an entry date) — so a 3-week put and a 6-week call that followed it are each measured on their own actual timeline rather than blended into one misleading average.
Positions, cash balances, and account tags are stored only in your browser (no account, no login). The only data that ever reaches a server is the ticker symbol, strike, expiration, and option type — sent to fetch a live market price — never your cash balances, account names, or premium figures. Use Export CSV to back up your full wheel history or move it between devices.
Do I have to track every historical cycle, or just current positions? Only open positions count toward coverage math; anything past its expiration moves automatically into a separate "expired" section so old cycles don't clutter the active view or skew your current cash/share totals.
Can I run the wheel on more than one ticker at once? Yes — shares-required tracking is per ticker per account specifically so multiple simultaneous wheels don't get mixed up with each other.
What if I'm running the wheel across three or more accounts? The same account-tag system scales to as many broker × account combinations as you use — cash and share totals are always broken out per tag as well as combined into one portfolio-level figure.