Hello again everyone, included below please find a FREE copy of the Options Wheel Strategy Spreadsheet. I’ll save the long introduction and get right into discussing the features of the sheet.
For those new to this strategy please have a look at Options trading IQ.
Download your copy of the Options Wheel Strategy Spreadsheet here. Its available freely and safely. If you have any questions please reach out if I can assist.
Step 1 – Create a copy
Step 2 – Append copy to a new sheet
*Admittedly, steps one, two, and three are something you didn’t need me to list but they’re important so you always have the primary sheet as a functioning template. Pretty much, just copy and paste the primary sheet to a new sheet.
Step 3 – Rename sheet to your liking
*For details on how to complete steps 1 – 3 please have a look at my free Covered Call Spread spreadsheet here.
Step 4 – Enter Options Contract Details
To enter the stock data into the FREE options wheel strategy spreadsheet you’ll need to type the ticker symbol and hit enter or tab over to have it populate. Sometimes, if you just click to a new cell excel will not populate the data. Further, enter the number of contracts, type of contract, strike price, and credit or debit. Finally, select the trades status using the drop down.
Step 5 – Changing the contract status
As the position changes or additional trades are placed you’ll need to revisit the contract status bar to make the appropriate selection. For instance, if you’ve been assigned you’ll want to input “assigned open”. Then, move to the next line and enter any call option data for the options wheel strategy. Afterward, if your call is exercised you’ll want to select “exercised” and then change the original put contract to “assigned closed”. If you have any questions please view the video above or reach me in the comments.
Step 6 – Investment Lookup
Utilizing the dropdown window, select the desired company you would like to view. This will return the current number of open shares held, their relevant cost and cost basis, and full profit/loss detail for the investment.
The rest of the spreadsheet will calculate and populate without further data entry. Additionally, you’ll be able to view all assigned or exercised contracts separately as well as lookup specific investments as desired.
For anyone interested in tracking, analyzing, and reviewing every trade, do check out the OptionBoxer Analyze and Journal spreadsheet. You may be surprised at all it can do.
I’m trading using ThinkOrSwim platform of TDAmeritrade broker firm.
Can you guide me the best book or software the improve my skill, especially the options strategies.
This is a difficult question to answer for anyone other than myself but when I started I simply purchased long puts & calls to familiarize myself with options. From there I moved on to Iron condors and had good success but with such fast moving markets I ultimately moved on to cash secured puts, covered calls, and the occasional scalping play when I have time to monitor the market. That said, this has been the best book, in my opinion, regarding options. https://optionboxer.com/options-strategic-investment/
Hi, thanks for the spreadsheet.
Is there an easy way to add a running break even price for each ticker?
Thank you for the message. This would likely take some reconstruction of the sheet but the cost basis for all positions as well as individual assets is included. With that information I’m hopeful you’ll be able to maintain an idea of where each position stands and make any necessary decisions regarding appropriate strikes. If that doesn’t help please reach me at email@example.com to elaborate on how knowing the breakeven would be more appropriate. I may be missing something that would help everyone.
Thank you for sharing the tool, Jeff! It’s a fantastic spreadsheet. Again, many Thanks!
You’re welcome. Glad you like it.
My Put was assigned and now have the underlying in my portfolio. I am now wondering about which status is the right to selevct in the spreadsheet: assigned open or assigned closed? What’s the difference between the two? Thank you for your help!
Feel free to watch my video where i discuss the spreadsheet.
Youll want to select assigned open initially, then if the shares are called away go back and change it to assigned closed. Hope that helps.
Hello Jeff, great, thanks a lot. That helps a lot!
Thanks Jeff, simple and to the point for us newbies.
You’re welcome and glad to hear it.
How does one get to populte the Company/Ticker? I get #UNKNOWN! WHt am I missing here?
Try checking to make sure the stock data type is active in your version of excel or possibly try the google sheets version. If that doesn’t resolve please send me an email and Ill assist.
Hi Jeff, I just discovered your site and xls. I like it but have a couple questions.
First, what is the Debit column for? Is that for trading fees to calc profit net of fees? Or is it for the buyback price if I exit the position for some reason?
Second, I’m a bit confused about the statuses. I assumed that Open, Assigned Open, Assigned Closed are to be used for Puts only. And that Open, Exercised, Closed would be for Calls. However, your download has a Put with status=Exercised. Can you clarify the statuses and when to use them? The video didn’t quite cover this.
Thanks for checking it out! To answer your questions, Yes and Yes!
1. The debit column is exactly as you mentioned, a place to input the buyback price of the contract if you closed it early or a place to account for any trading fees.
2. The put with “exercise” status is probably an accidental selection while making changes to the spreadsheet. You have listed the options for puts and calls correctly.
Hope that helps.