Options Wheel Strategy Spreadsheet (Excel & Google Sheets) — v2026

Most traders running the Wheel strategy think they know how they are doing.
They collect premium, maybe get assigned, sell a covered call — and assume
it is all working out. But when I ask them: “What is your real cost basis?
What is your actual return on capital after all the fees, rolls, and
dividends?” — most cannot answer.

That is not a trading problem. That is a tracking problem.

I built this spreadsheet because I needed it myself. I wanted one place
where I could see the full picture of every Wheel cycle I was running —
clearly, automatically, without having to do the maths myself every time
something changed.

— WHAT THIS SPREADSHEET DOES —

It gives you a dedicated tracking tab for each stock you are wheeling. You
record every step — capital reserved, put sold, roll, assignment, shares
purchased, dividend received, covered call sold, shares called away — and
the dashboard does the rest.

What it calculates automatically:

– Cash Balance, Cash Allocation, and Unallocated Cash at every stage
– Real cost basis per share — adjusted for every premium, roll credit,
dividend, and fee (not just the strike price you were assigned at)
– Realised and unrealised profit — separately, clearly
– Return on Capital (ROC) — realised and annualised
– Current Wheel phase and recommended next action
– Alert messages for errors, past-expiry options, and assignment actions
needed

Without a tracking tool like this, you are running the Wheel without a
number-based compass. You may be collecting premium — but you have no clear
picture of whether the strategy is actually working for you over time.

— WHAT IS INCLUDED —

→ Microsoft Excel file (.xlsx) — works with Microsoft 365 or Excel 2021+.
Live share price available for Microsoft 365 subscribers via the Stocks
data type, or enter manually — both work perfectly.

→ Google Sheets version — cloud-based, live share price via GOOGLEFINANCE
(free, no subscription needed). Works on any device with a browser.

→ Complete User Guide v2026 (PDF) — step-by-step instructions, a full
worked example using a real SOFI Wheel cycle (CSP → roll → assignment →
dividend → covered call → shares called away), common mistakes to avoid,
and a full FAQ section. You will not be left guessing.

→ YouTube tutorial support — video walkthroughs available at
youtube.com/@tradingoptionsforcashflow

— HOW IT WORKS —

The spreadsheet is built around one stock per tab. You duplicate the
template tab, rename it to your ticker, and start recording.

The colour-coded layout tells you at a glance which fields to fill in for
each action type. The dashboard updates automatically as you log each step.
The alert banner warns you when something needs attention — an option past
expiry, an assignment action still pending, or free capital ready to deploy.

The User Guide walks you through every step with exact field entries and
screenshots, so you can set up your first tab with confidence.

— WHO THIS IS FOR —

✔ Traders running the Wheel strategy on individual stocks
✔ Beginner to intermediate options traders who want a focused,
strategy-specific tool
✔ Stock investors transitioning into options who want clarity on their
real performance
✔ Anyone serious about knowing their actual return on capital — not just
the premium they collected

✘ This is not a trade signal tool — it tracks your trades, it does not
recommend them
✘ This is not designed for futures options — stock options (100-share
equity contracts) only

— WANT TO TRACK MORE THAN THE WHEEL? —

If you also trade iron condors, spreads, or other strategies — or if you
manage more than one account — the All In Trading Options Journal
Spreadsheet is the natural next step. It covers all strategies, multiple
accounts, and full portfolio parameter tracking in one unified tool.

— 30-DAY MONEY-BACK GUARANTEE —

This spreadsheet is a tracking and journalling tool. It does not provide
trade recommendations or financial advice. Options trading involves risk
and is not suitable for every investor. Always trade according to your own
risk tolerance, account size, and strategy understanding.