Turn idle cash into steady premium, one wheel at a time
Option Toolkit for income wheel strategy that simply works
optiontoolkit holds every turn of the wheel in one place: screen the best stocks and the best option to start. Managed the wheel cycle with recommended next best actions for closing, rolling and assignment. As the builder of this toolkit, I am using it to manage diversified wheel portfolio of 30-50 options per month.
Best Practice Screen for stocks with strong fundamentals, nice growth and solid technical signals, together with its best option for cash-secured put entry to the wheel.
| Symbol | Sector | Price | Chg % | Stock Score ↓ | Fund. | Growth | Tech. | RSI | Option Score | Strike | Expiry | DTE | Ann. Yield | Delta | Next Earnings | Watch |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CNC Centene Corp | Health Care | $67.48 | +2.18% | 10 | 7 | 9 | 8 | 57 | 5 | $62.5 | 2026-09-18 | 34 | 21.0% | -0.26 | 2026-10-27 | Log trade |
| ANET Arista Networks | Information Technology | $198.82 | -2.36% | 9 | 8 | 7 | 7 | 60 | 6 | $185.0 | 2026-09-18 | 34 | 32.5% | -0.27 | - | Log trade |
| FTNT Fortinet Inc | Information Technology | $160.01 | -3.28% | 9 | 7 | 7 | 9 | 52 | 6 | $150.0 | 2026-09-18 | 34 | 28.5% | -0.28 | - | Log trade |
| DAL Delta Air Lines Inc | Industrials | $89.35 | -2.15% | 8 | 7 | 7 | 7 | 52 | 6 | $85.0 | 2026-09-18 | 34 | 25.0% | -0.29 | 2026-10-08 | Log trade |
| UMC United Microelectronics | Information Technology | $19.15 | -1.19% | 8 | 7 | 6 | 9 | 44 | 7 | $18.0 | 2026-09-18 | 34 | 52.5% | -0.29 | - | Log trade |
The loop, end to end
Five stages. Most tools cover one of them.
The wheel is not a trade, it is a cycle you re-enter every few weeks. The hard parts are the handoffs: what your cost basis becomes after assignment, whether this week's call is still worth holding, and what any of it returned on the cash you tied up.
Screen for stock you would be glad to own
The Best Practice Wheel Screen filters 1,500 optionable US stocks down to names with strong fundamentals, real growth and solid technicals, and pairs each one with the best contract for a cash-secured put entry. Fundamental, growth and technical each score out of ten, so a shortlist is one sort rather than an afternoon of tab-switching.
In the product
Screener with six saved presets, score-by-score filters, and Log trade on every row.
Plan the calendar before you sell the put
The watchlist is laid out as weeks, not as a list. Every planned and open put sits on its expiry column next to the earnings dates around it, so a week that is quietly stacking up four prints is visible before you add a fifth position to it.
In the product
Watchlist calendar: symbols down, expiry weeks across, earnings and warning counts in place.
Hold the position to a plan, not to a feeling
Each open put carries a next best action in plain words: on plan, approaching the strike, or 19 DTE and time to check the 50% GTC. Cushion, capture and premium as a share of strike sit on the same row, so the state of the trade is one line rather than a mental calculation.
In the product
Positions, with Close and Roll beside the advice and a capture bar per leg.
Keep the whole cycle threaded
A wheel is one story per symbol. Every leg is on a single timeline, where assignment marks the transition from cash-secured put to covered call and freezes the entry cost basis, so true cost basis per share, days at risk and annualized ROC stay correct through as many turns as it takes.
In the product
Wheel detail: premium collected, realized P/L, true cost basis, days at risk, annualized ROC.
Judge the income against the market and the drawdown
Realized P/L by month, a cumulative equity curve, and your portfolio plotted against SPY over the same window, with both drawdowns shown. Selling premium usually trades upside for smoothness, and this is where you find out whether that trade went your way.
In the product
Performance, plus a journal filled from your synced trades.
One real trading account, year to date 2026.
Realized P/L (YTD)
+$156,974.45
premiums +$156,224.45 · shares +$750.00
Avg capital deployed
$635,078.65
over the window · of $1,000,000 trading capital
Portfolio return
+24.72%
SPY +13.64% over the same window
Max drawdown
-0.25%
over the same window