Option sellers running the wheel strategy face a persistent challenge: tracking cost basis accurately across multiple transactions becomes exponentially more complex as positions mature. Traditional spreadsheets demand constant manual updates, formula maintenance, and vigilant error checking. Miss a single transaction entry and your entire cost basis calculation becomes unreliable.
MyATMM (MyAtTheMoneyMachine) solves this problem with a web-based platform purpose-built for option sellers. The application automatically tracks every covered call, cash-secured put, assignment, and rollover transaction while continuously calculating your current cost basis in real-time. Your data lives securely in the cloud, accessible from any device—desktop, mobile, or tablet—wherever you need it.
This platform was created by an active option seller who encountered the same tracking frustrations. Rather than settling for inadequate spreadsheet solutions or bloated general-purpose portfolio tools, the platform addresses the specific workflows and calculations that wheel strategy traders require daily.
Before diving into how MyATMM tracks the strategy, understanding the continuous wheel strategy itself provides essential context. This systematic approach to option selling generates weekly income through a repeatable cycle of covered calls and cash-secured puts on the same underlying.
The standard wheel strategy follows this basic pattern:
This creates a cycle where you're alternating between holding cash (selling puts) and holding shares (selling calls). The weakness: you only generate income from one side at a time.
The continuous wheel strategy adds a critical modification: after acquiring shares through put assignment, you simultaneously sell both covered calls AND additional cash-secured puts. This bilateral approach means you generate income whether the stock moves up or down.
Here's how the enhanced strategy works step by step:
Select a stock suitable for the wheel strategy. Ideal candidates have liquid options markets, moderate volatility for decent premiums, and fundamentals you're comfortable owning long-term if assigned repeatedly.
Open a cash-secured put position at or near the money with upcoming Friday expiration. This generates immediate premium income. You need sufficient buying power to purchase 100 shares at the strike price if assigned.
Two scenarios can occur at expiration:
After acquiring shares, you now execute the strategy's distinctive feature:
This bilateral approach guarantees one side wins every week. If stock goes up, calls profit. If stock goes down, puts profit. You collect premium regardless of direction.
At the next expiration, your covered call faces two scenarios:
Simultaneously, your cash-secured put (from Step 4B) also expires with two scenarios:
The continuous aspect creates compounding benefits. As puts get assigned, you accumulate more shares. More shares enable selling more covered call contracts. More contracts generate more absolute premium even at the same percentage rates. The strategy builds on itself organically.
The continuous wheel strategy's power comes from systematic execution over time. But as positions mature and transactions accumulate, knowing your true cost basis becomes increasingly important—and increasingly difficult without proper tools.
MyATMM tracks three distinct cost basis metrics, each serving a specific purpose:
This is your simple dollar cost average based purely on stock purchases. If you bought 100 shares at $46.50 and later bought 100 more shares at $44.50, your cost basis without premium is $45.50 per share.
Use Case: Understanding your capital deployment and raw stock cost before considering income collected.
This is your true economic cost basis after accounting for all option premium collected. Using the example above, if you collected $168 in premiums across 200 shares, your premium-adjusted cost basis drops to $44.66 per share ($45.50 - $0.84).
Use Case: Determining your true breakeven point for the position and selecting covered call strikes that ensure profitability.
This forward-looking metric shows what your cost basis would become if your currently open cash-secured puts are assigned. If you have a $44.50 put open and it gets assigned, this calculation shows your new blended cost basis across all shares.
Use Case: Evaluating whether accepting assignment at a specific strike makes sense given your overall position goals and future covered call strike selection.
As you execute the continuous wheel strategy week after week, the cumulative premium collected can dramatically lower your true cost basis. In the video example, the trader had collected $977 in total premium on a position with just 100 shares. That premium reduced the effective cost basis from $46.50 to $36.73—nearly a $10 per share reduction.
This compounding effect means that over time, your effective cost basis can approach zero or even go negative. At that point, you're essentially holding shares for free with all the premium collected representing pure profit. Any capital gains from eventually selling shares becomes bonus income on top of the systematic premium collection.
Knowing your premium-adjusted cost basis is essential for covered call strike selection. The goal is selling calls at or above your true cost basis to ensure you profit whether shares are called away or the option expires worthless.
If you only know your simple cost basis ($46.50) but your premium-adjusted cost basis is actually $36.73, you're leaving money on the table by selling calls too far above the money. You could be selling closer-to-the-money calls with higher premiums while still protecting your true economic position.
The platform provides two primary interfaces that work together to support the complete option selling workflow: the stock search and analysis page, and the cost basis tracking page.
The covered call search page helps identify suitable stocks for the wheel strategy. Filter by various criteria including price range, option liquidity, dividend yield, and volatility. The search results display key metrics needed to evaluate whether a stock makes sense for systematic premium collection.
This analysis function removes the guesswork from stock selection. Rather than browsing random tickers hoping to find good premium opportunities, use systematic filters to surface stocks meeting your specific strategy requirements.
The cost basis page serves as mission control for managing active positions. Key features include:
Displays at a glance for each ticker:
See all currently open covered calls and cash-secured puts with:
When selling new options, add them as draft positions to see the proposed impact on your metrics before finalizing. This lets you model different strike prices and see how they would affect your proposed cost basis before committing to trades.
The permanent audit trail at the bottom of each ticker's page records:
This chronological history serves as your complete record of activity. Export this data for tax preparation or review your strategy performance over any time period.
Rather than manually typing every transaction detail, MyATMM provides quick-add buttons that populate transaction forms with data from your active positions. Selling a new call on an existing position? Click the "Sell Call" helper, confirm the details, and the transaction records automatically with all the position linkage maintained.
These workflow accelerators reduce data entry time and minimize transcription errors that plague manual spreadsheet tracking.
The video demonstrates MyATMM's functionality using an actual position on Marvell Technology (MRVL). Walking through this real example illustrates how the platform handles the continuous wheel strategy in practice.
The trader had previously sold a cash-secured put on MRVL that was assigned, resulting in the purchase of 100 shares at $46.50. The position summary displayed:
| Metric | Value |
|---|---|
| Shares Owned | 100 |
| Cost Basis Without Premium | $46.50 |
| Cost Basis With Premium | $38.41 |
| Total Premium Collected | $809 |
| Current Stock Price | $44.55 |
The $8.09 difference between the two cost basis figures ($46.50 vs $38.41) represents the cumulative impact of $809 in collected premiums. This position demonstrates premium collection's power—even though the stock traded below the purchase price, the premium-adjusted cost basis showed a much healthier position.
With 100 shares owned, the trader was now positioned to execute Step 4 of the continuous wheel strategy by selling both a covered call and a cash-secured put.
Using the draft position system, the trader added:
This covered call at the purchase price ensures that if assigned, the shares sell at breakeven (before premium) or profit (after premium). The $1.05 premium represents income collected for providing this upside exposure.
Simultaneously, a cash-secured put was added:
This at-the-money put required $4,450 in buying power. If assigned, it would result in purchasing 100 additional shares at $44.50, lowering the overall position's average cost.
With both positions added as drafts, MyATMM calculated the proposed cost basis—what the cost basis would become if the cash-secured put was assigned:
This $1.00 reduction in cost basis (from $46.50 to $45.50) demonstrates the dollar cost averaging effect of accepting assignment on cash-secured puts. Each assignment at lower strikes progressively reduces your average cost, making future covered calls more profitable as you can sell closer to the money.
After reviewing the proposed impact, the trader saved both positions, moving them from drafts to the permanent transaction history. The platform updated all metrics automatically:
| Metric | Before | After |
|---|---|---|
| Cost Basis With Premium | $38.41 | $36.73 |
| Total Premium Collected | $809 | $977 |
| Proposed Cost Basis | $38.41 | $36.73 |
The additional $168 in premium ($105 + $63) further reduced the premium-adjusted cost basis by $1.68 per share. The trader collected this income immediately regardless of what happens at expiration.
The most powerful aspect of the continuous wheel strategy reveals itself over extended time horizons. As you execute week after week, the cumulative premium collected continues reducing your effective cost basis. Eventually, this can reach zero or even go negative.
If you've collected more total premium than you've spent purchasing shares, your premium-adjusted cost basis becomes negative. At that point, you effectively own the stock for free—all the money you invested has been returned through premium collection.
From that point forward:
How long does reaching negative cost basis take? This depends on several factors:
In the MRVL example shown, the trader had collected $977 in premium on what started as a 100-share position (now grown to potentially 200 shares if the put is assigned). With an initial investment of perhaps $4,650 (100 shares at $46.50), the premium has already returned 21% of invested capital in what appears to be several months of trading.
Extrapolating this pace suggests reaching breakeven (premium equals capital invested) within 2-3 years of consistent execution. After that point, every dollar becomes pure profit with zero remaining capital at risk.
Understanding this long-term trajectory changes how you evaluate the continuous wheel strategy. Rather than focusing solely on week-to-week returns, recognize that you're building toward a future state where:
MyATMM's cost basis tracking makes this long-term vision concrete. You can watch your premium-adjusted cost basis decline week by week, month by month, knowing exactly how much further you need to go until reaching the breakeven point and beyond.
The platform is designed to eliminate barriers to entry. Create a free account and start tracking immediately without payment information or subscription commitments.
The free tier provides full platform functionality for up to 3 tickers. This limitation allows you to:
Many traders find 3 tickers sufficient for generating meaningful income while maintaining manageable position monitoring requirements. You can trade the continuous wheel strategy successfully with just 2-3 carefully selected stocks.
When you're ready to expand beyond 3 tickers, paid subscriptions unlock unlimited position tracking. The pricing is designed to be accessible—far less than the value created by accurate cost basis tracking and the time saved versus manual spreadsheet maintenance.
MyATMM runs entirely in the browser with all data stored securely in the cloud. This means:
This accessibility enables managing positions from anywhere with internet connection. Review your cost basis while researching potential trades on your phone, or log weekend transactions from a tablet without needing your trading computer.
Once your account is created, recommended first actions include:
The platform is intentionally simple. Most users become comfortable with core workflows within 15-20 minutes of initial exploration.
The continuous wheel strategy offers option sellers a systematic path to consistent weekly income with clearly defined rules and repeatable workflows. But executing the strategy successfully over time requires accurate position tracking that spreadsheets simply cannot provide efficiently.
MyATMM bridges this gap with a platform designed specifically for option sellers' needs. Automatic cost basis calculations, integrated transaction history, proposed position modeling, and cloud-based accessibility combine to create infrastructure that makes systematic execution practical and sustainable.
The platform's focus on three different cost basis calculations—simple, premium-adjusted, and proposed—provides the exact metrics needed for intelligent strike selection and position management decisions. Knowing your true economic breakeven point rather than just your purchase price average enables optimal covered call strike selection that maximizes premium while protecting profitability.
The long-term vision enabled by accurate tracking is perhaps most valuable. Watching your premium-adjusted cost basis decline week after week toward zero and eventually negative provides tangible progress metrics that reinforce consistent execution. The goal isn't spectacular single-trade gains but rather methodical accumulation of premium that eventually returns all invested capital and beyond.
The platform was built by an active option seller who experienced the frustrations of spreadsheet tracking firsthand. Rather than creating bloated general-purpose software with features most option sellers never need, MyATMM delivers focused functionality for the specific workflows that matter daily when running wheel strategies.
Whether you're new to the continuous wheel strategy or an experienced practitioner frustrated with inadequate tracking tools, MyATMM provides the infrastructure needed to execute systematically, track accurately, and build toward positions with zero or negative cost basis through cumulative premium collection.
Start with a free account tracking up to 3 tickers. Experience automated cost basis calculations, clean transaction logging, and cloud-based access across all your devices. Transform option selling from spreadsheet chaos into systematic strategy execution with proper tracking infrastructure.
Options trading involves significant risk and is not suitable for all investors. The continuous wheel strategy described involves selling cash-secured puts that obligate you to purchase shares if assigned, potentially resulting in losses if the stock declines significantly. Covered calls cap upside potential and do not protect against downside risk beyond the premium received.
Past premium collection results do not guarantee future income. Stock prices can decline substantially, creating unrealized losses even when premium collection is factored into cost basis calculations. Achieving zero or negative cost basis through premium collection requires consistent execution over extended periods and is not guaranteed.
MyATMM is a tracking platform only and does not provide investment advice, trade recommendations, or guarantee profitability of any strategy. The platform calculates cost basis based on transaction data you provide but cannot prevent losses from unfavorable market movements.
This content is for educational purposes only. Always consult with a qualified financial advisor before implementing any options trading strategy.
MyATMM calculates cost basis automatically, logs every transaction, and shows your true economic position in real-time. Built specifically for option sellers running wheel strategies.
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