Trading Options Wheel Strategy - Excel & Google Sheets Spreadsheet instruction

Before you continue : I have now a new and improved version, called the ALL IN Options Trading Journal - version 2024, integrating all strategies (including improved wheel strategy reporting) and all types of trades, which may even be a better spreadsheet to cover your needs :

It is wise to have a look at both spreadsheets before making a choice. I will add also the link at the bottom of the page.

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In this video, I will explain and demonstrate how to use the customised spreadsheet I have created to track the options wheel strategy.
A good and correct tracker is paramount in options trading in general, because it will allow us to become more precise, correct and quicker in our decision-making when applying the option wheel strategy.
The spreadsheet provides at all times an up-to date overview of my realised net profit, my cash balance, my realised stock profit, my realised options profit, my unallocated cash, and many more parameters, to track my options wheel strategy for a specific stock I trade.

This spreadsheet, available for Microsoft Excel and for Google Sheets, can track selling cash secured puts, covered calls and the buying and selling of shares with complete tracking dashboard with net results cash balance, return on capital and more.

but here are basic steps to the wheel strategy:
1) Sell cash-secured puts
3) When assigned, buy the shares
4) While holding the shares, sell covered calls
5) When assigned, sell the shares
6) Rinse and repeat

I hope this video will have helped you understand the options wheel strategy and the use of the customised spreadsheet. If you've got any questions, just comment it below and I'll be happy to help.

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Disclaimer: I am not a financial planner and am not offering investment advice. This is an opinion channel only and should not be taken as any form of financial advice. There are financial risks involved in taking on any monetary transaction that I discuss in my videos.

#options #tradingstrategy #optionselling #optionstrading

[tradingoptionsforcashflow]

It is always wise to have a look at both spreadsheets before making a choice.Don't hesitate to ask questions about it.
Thanks

[jeffreytartamella]

I AM IMPRESSED WITH YOUR SPREADSHEET. i HAVE A FEW QUESTIONS. 1.CAN YOU TRADE MULTIPLE UNDERLYING ON THE SAME SHEET OR IS A DIFFERENT SHEET REQUIRED FOR EACH. 2. DOES YOUR WORKSHEET PROVIDE ANY ABILITY TO SHOW DASHBOARD DATA FOR THE ENTIRE PORTFOLIO SUMMARIZED OR ONLY BY UNDERLYING.

[GrantGrant]

Can you add a field to show the adjusted cost basis?