The wheel modeled as a state machine: one lifecycle card per name, strike scanners for cash-secured puts and covered calls, a hard cost-basis floor on calls, roll prompts that require both price and time conditions, and broker reconciliation that never commits on its own.
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The wheel is a repeating cycle, and every leg of it is a trade you place yourself. It opens with a cash-secured put. If that put is assigned, you own the shares. A covered call written against those shares is the next leg, and if the shares are called away the cycle comes back to the start. It is simple to describe and easy to lose track of across six names at different points in the cycle, which is what this tab is actually for.
Each name gets a card showing exactly where it sits in the cycle, the open leg with days to expiration, the capital committed to it, and whether an earnings blackout is in force. Every state change is confirmed by you. The app detects transitions from your broker and offers them as a click, and it never commits one on its own.
Find scans for strikes at your target delta inside your chosen days to expiration. For each candidate you get the collateral required, the annualized yield, distance to the current price, implied volatility and the spread, with soft flags for thin open interest, a wide quote, or a nearby earnings date. The covered call scanner adds one hard rule: it will never offer you a call strike below your recorded cost basis on those shares. Getting called away at a loss is a mistake the tool declines to help you make.
A roll surfaces when two things are both true: price is at or through your strike, and you are inside your roll window on time. Both, not either. In the last day or two before expiry the queue stops offering rolls and points at the expiry path instead, because rolling a position that is about to resolve is usually just paying a spread twice. The roll view also prices your open leg and flags when you have already captured enough of the premium to simply buy it back early.
One important piece of bookkeeping: only genuinely naked short options count as wheel legs. A short put that is one leg of a credit spread is not a cash-secured put, and this will not claim it as one.
Performance tracks realized results and cycles against whatever target you set, per two-week window. Options Scanner is operated by Avenix Solutions LLC. It is not a broker-dealer and not an investment adviser, and it never holds customer funds. Options involve risk and are not suitable for every investor. Thanks for watching.