If you're running the wheel strategy on more than a couple of tickers, you already know that tracking everything in your head (or a messy spreadsheet) doesn't scale. Premium collected, cost basis adjustments, assignments, rolls, expirations, dividends — it adds up fast. That's why dedicated wheel strategy trackers exist. But which one is actually worth your time?
I've looked at the main options available right now and broken down what each one does well, where it falls short, and who it's best suited for.
Here's who's in the ring for 2025:
Let's walk through each one.
MyATMM was built by an active wheel trader who's been using it himself for over three years. It's a full SaaS platform focused specifically on the wheel strategy — cash-secured puts and covered calls — and it goes deep on cost basis tracking.
What stands out: The cost basis tracking is where MyATMM separates itself. It tracks every premium collected, every assignment, every dividend, and automatically adjusts your cost basis as you work a position through the wheel lifecycle. You get a stock and option screener covering 550+ weekly-option stocks with 25+ filters, AI-assisted transaction import from brokerage screenshots, Schwab bulk JSON import, and multi-portfolio support.
Pricing: Free tier lets you track up to 3 tickers with no credit card. Paid plans are $24.95/month (discounts may be available on the pricing page).
Best for: Wheel traders who want detailed cost basis tracking and a screener to find new positions — all in one place.
TrackTheta is one of the more established names in this space. It covers a range of options strategies beyond just the wheel, and it integrates with several brokerages for automatic trade imports.
What stands out: Broad strategy coverage and brokerage integrations. If you trade more than just the wheel, TrackTheta gives you a wider lens. The dashboard views are clean and the reporting is solid.
Where it's lighter: Because it's built to handle many strategies, the wheel-specific tracking can feel more general-purpose. Cost basis adjustments through a full wheel cycle aren't as granular as what you'd get from a purpose-built wheel tracker.
Best for: Traders who run multiple options strategies and want one platform to cover everything.
CoveredWheel focuses on the core covered call and cash-secured put cycle. It's a straightforward tool that keeps things simple.
What stands out: Simplicity. If you want a no-frills tracker that does the basics — log your trades, see your premiums — it gets the job done without a steep learning curve.
Where it's lighter: Feature depth. If you need advanced screening, multi-portfolio management, or detailed cost basis adjustments through rolls and assignments, you'll likely outgrow it.
Best for: Newer wheel traders who want something simple to start with.
This one positions itself as both educational content and a tracking tool. There's a good amount of wheel strategy information alongside the tracker itself.
What stands out: The educational angle. If you're still refining your approach to the wheel, the content can be valuable alongside the tracking features.
Where it's lighter: The tracker itself is less feature-rich compared to dedicated SaaS platforms. It works for basic tracking but may not cover edge cases like complex rolls or multi-leg adjustments.
Best for: Traders who want learning resources bundled with basic tracking.
These two sites offer wheel-focused tracking with slightly different approaches. OptionWheelTracker.ai leans into AI-powered features for trade analysis.
What stands out: Wheel-specific focus, and the .ai variant is exploring interesting territory with automated trade insights.
Where they're lighter: Both are newer entrants, so the feature sets are still developing compared to more established tools. The depth of cost basis tracking and screening tools varies.
Best for: Traders who want to try newer tools and are comfortable with platforms that are still evolving.
| Feature | MyATMM | TrackTheta | CoveredWheel | WheelStrategyOptions | OptionWheelTracker |
|---|---|---|---|---|---|
| Wheel-specific focus | Yes | Partial | Yes | Yes | Yes |
| Deep cost basis tracking | Yes | Basic | Basic | Basic | Varies |
| Stock/option screener | 550+ stocks, 25+ filters | Limited | No | No | Varies |
| AI transaction import | Yes | No | No | No | .ai version |
| Brokerage import | Schwab JSON | Multiple | No | No | Varies |
| Multi-portfolio | Yes | Yes | No | No | No |
| Free tier | 3 tickers, no card | Limited | Varies | Varies | Varies |
| Paid pricing | $24.95/month | Higher | Varies | Varies | Varies |
It depends on what you actually need.
If you trade multiple strategies and want broad coverage, TrackTheta is a solid pick. If you're just getting started and want something dead simple, CoveredWheel or WheelStrategyOptions will get you going.
But if you're a dedicated wheel trader — someone who's actively managing cash-secured puts and covered calls across multiple positions — cost basis tracking depth matters. Knowing your true adjusted cost basis after three rounds of puts, an assignment, two covered calls, and a dividend changes how you make decisions on your next trade. That's the gap MyATMM was built to fill.
The free tier at MyATMM lets you try it with up to 3 tickers and no credit card, so there's no risk in seeing whether the depth matches what you need.
There's no single "best" tracker for everyone — it comes down to how seriously you run the wheel and how much detail you want in your tracking. For wheel-specific traders who care about accurate, automatically-adjusted cost basis data alongside a powerful screener, MyATMM is hard to beat. Give it a shot for free at myatmm.com and see if it fits how you trade.
MyATMM provides purpose-built cost basis tracking for option sellers, with the flexibility to track covered calls, cash-secured puts, and wheel strategy positions.
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