Track Every Cash-Secured Put, Roll and Covered Call in One Spreadsheet

Theta Wheel Book records each step of your wheel trades (puts, rolls, assignments, dividends, covered calls and call-aways) and works out your adjusted cost basis, cash allocation, realized and unrealized P/L and annualized returns for you.

Buy the Tracker — $19

One-time price: $19 · Instant download · Excel & Google Sheets

Theta Wheel Book Dashboard with account filter, cash balance, capital allocation, realized and unrealized P/L, return on capital, capital-weighted annualized return, win rate, monthly table and four charts, using hypothetical example data

Educational tool, not financial advice. Screenshots show hypothetical example rows, not real trades or expected results.

How it works

  1. Trades tab with the yellow input columns outlined and labeled 'Yellow = user input' and the grey formula columns outlined and labeled 'Grey = calculated automatically', using hypothetical example trades
    1Log a trade on the Trades tab. Yellow columns are user input: date, account, ticker, type, strike, expiry, premium, contracts, fees and status. The grey columns work out net premium, collateral, days held, annualized return, win/loss and roll-chain credit for you.
  2. Wheel Cycles tab with the Current Phase column and the Next Step column highlighted for KO, AAPL, AMD and MSFT example rows
    2See each wheel's phase and next step. Wheel Cycles shows one row per account + ticker: whether you're in the put phase, holding shares, or have a call open, plus the next step in the process, cycle P/L and adjusted cost basis.
  3. Dashboard with the cash and allocation block, the returns and win rate block, and the monthly and cumulative P/L charts outlined, using hypothetical example data
    3Read your totals on the Dashboard. Cash balance, capital allocation, realized and unrealized P/L, return on capital, capital-weighted annualized return and win rate, plus monthly and cumulative P/L charts. Filter by account.
  4. Alerts tab with a trade alert for an option expiring in 4 days and a ticker alert for 100 uncovered shares highlighted
    4Catch problems with Alerts. Data-entry errors, options past expiry, options expiring soon, uncovered shares and free cash are listed in one place. Fix the source row and the alert clears.

Screenshots are real renders of the spreadsheet with hypothetical example data. Educational tool, not financial advice.

Why traders outgrow their brokerage screens

See your real break-even

Brokers show the strike you were assigned at. Theta Wheel Book nets every put, call, roll, dividend and fee for the cycle so you see your adjusted basis.

Know where your cash is

See how much is reserved for puts, tied up in shares, and free, per account or across all of them.

Compare trades fairly

Annualized and capital-weighted returns put a 7-day trade and a 45-day trade on the same yearly scale.

Keep your data private

It's just a file. No account, no broker connection, no tracking. Your trades stay on your computer or your own Google Drive.

What's inside the spreadsheet

Trades tab with color-coded statuses including Rolled, Roll Group IDs, net premium, collateral, annualized return, win/loss and roll chain net credit
Trades: one row per option leg, with dropdowns, Rolled status, Roll Group IDs and automatic calculations (example data).
Wheel Cycles tab listing each account and ticker with current phase, next step, cycle premium, adjusted cost basis per share, unrealized P/L and cycle annualized return
Wheel Cycles: phase, next step, adjusted cost basis and cycle returns per account + ticker (example data).
Stock and Dividends tab with dividend, buy and sell events, cash flow, cycle number, stock P/L and short or long-term term
Stock & Dividends: dividends and shares bought or sold outside of assignment (example data).
Year-End summary showing realized option premium, dividends and short-term and long-term stock sale proceeds, cost and gain
Year-End: short-term and long-term split for stock sales (example data, not a tax form).

Full wheel cycle tracking

CSPs, rolls, assignment, covered calls, call-aways and closes. Each Account + Ticker gets an automatic cycle number, current phase and a plain-language 'next step' in the process.

Rolls done properly

'Rolled' status plus a Roll Group ID links every leg. See net credit per chain; roll debits and credits flow into premium, cost basis and returns.

Real adjusted cost basis

Break-even per share after every premium, roll, dividend, fee and outside share purchase or sale — per cycle, not just the assignment strike.

Cash & capital allocation

Starting capital per account, cash balance, CSP collateral reserved, shares at cost, capital-at-work %, free cash and account value.

Realized vs. unrealized

Realized premium, dividends and stock P/L kept separate from unrealized share gains (with your price) and open options (optional mark).

Returns that mean something

Return on capital (realized and annualized), annualized return per trade, capital-weighted annualized return, cycle annualized return and a win rate that counts roll chains once.

Alerts

Data-entry errors, options past expiry still marked Open, options expiring soon (future dates only), uncovered assigned shares, calls exceeding shares, and free cash available.

Cycle History & Ticker Detail

Every completed cycle with P/L, capital, days and annualized return. Pick any account + ticker to see its whole history on one tab.

Year-End summary

Realized premium, dividends and stock sales split into short-term and long-term for the year you choose (an organizer, not a tax form).

4 charts

Monthly realized income, cumulative realized P/L, realized P/L by ticker and capital allocation.

Multi-account filter

Tag trades by account (taxable, IRA…). One dropdown re-scopes the Dashboard, Year-End and charts.

Built to be trusted

Formula-driven (no hard-coded results), 1,000 trade rows, dropdown validation, frozen headers, colour-coded cells (Yellow = user input, Grey = calculated automatically), and a step-by-step Instructions tab.

Theta Wheel Book Options Tracker

  • ✓ One .xlsx for Excel 2019/365, LibreOffice & Google Sheets
  • ✓ 10 tabs: Dashboard, Trades, Stock & Dividends, Wheel Cycles, Cycle History, Ticker Detail, Alerts, Year-End, Settings, Instructions
  • ✓ Worked example included · one-time payment

$19

Buy the Tracker — $19

Payment and any applicable sales tax/VAT are handled by our checkout provider. See Terms of Sale & Refunds.

Learn the method first

New to tracking the wheel? Read our free guide: How to Track the Options Wheel Strategy (Cost Basis, Premiums, Returns).

Frequently asked questions

What exactly do I get?

One downloadable .xlsx workbook with ten tabs: Instructions, Dashboard, Trades, Stock & Dividends, Wheel Cycles, Cycle History, Ticker Detail, Alerts, Year-End and Settings. The same file opens in Microsoft Excel 2019/365, LibreOffice and Google Sheets (File → Import).

Does it handle rolls?

Yes. Mark the old leg 'Rolled' with its buyback price, give both legs the same Roll Group ID, and log the new leg. The chain's net credit is shown on each leg, every leg flows into cycle premium and adjusted cost basis, and the win rate counts each roll chain once.

Can I track dividends and shares I buy or sell myself?

Yes. The Stock & Dividends tab logs dividends plus share purchases and sales outside of assignment. They feed shares held, adjusted cost basis, cash balance, realized P/L and the year-end summary.

Does it get live prices?

In Google Sheets, the Live Price column uses GOOGLEFINANCE automatically (quotes can be delayed). In Excel or LibreOffice that function isn't available, so the column stays blank without errors and enter a Manual Price (user input) instead. It never connects to a broker.

Can I track more than one account?

Yes. Name up to 10 accounts with their starting capital in Settings, tag each trade with an account, and use the Dashboard filter to see one account or all of them.

Will this tell me which options to sell?

No. Theta Wheel Book is an impersonal record-keeping tool. Its 'Next Step' column only describes where you are in the wheel process (for example 'shares held, no call open'); it never recommends a ticker, strike, expiry or trade, and it is not financial advice.

How is adjusted cost basis calculated?

Per wheel cycle: share purchases minus share sales, minus all net option premiums (including roll debits and credits) and dividends, divided by shares held. It's your break-even for the cycle — a tracking figure, not your tax basis.

Is the year-end summary tax-ready?

No. It splits stock sales into short- and long-term using an estimated holding period and average cycle cost, which can differ from your broker's Form 1099-B. Use it to organize records and talk to a tax professional.

Which versions of Excel are supported?

Excel 2019, Excel 2021 and Microsoft 365, plus Google Sheets and LibreOffice. It uses MINIFS/MAXIFS, which Excel 2016 and earlier don't support.

What is your refund policy?

Because this is an instantly downloadable digital file, please see our Terms of Sale & Refunds page for the exact policy. If the file is defective or will not open, contact us and we will make it right.