Best tools for the wheel strategy: a $15.98/mo stack
Wheel traders and premium sellers need four things: a way to find puts and calls worth selling, a tracker that gets cost basis right after assignments, a cheap broker, and a way to sanity-check a trade. This stack does all four for $15.98 a month.
The 5 tools and why each is included
| Tool | Why it's here | Plan | Monthly | Yearly | Price checked |
|---|---|---|---|---|---|
| tastytrade Brokerage & execution | No platform subscription. Options cost $1 per contract to open, $0 to close and $10 max per leg, which suits frequent rolls. | No platform fee; commissions apply | $0 | $0 | 2026-11-09 |
| ThetaScanner Screening & scanning | CSP Finder and CC Finder, with 25+ filters including annualized yield, delta and DTE. It has an earnings calendar to avoid reports and covers 1,400+ tickers on the paid plan. | Paid entry plan | $5.99 | $71.88 Annual price not verified; yearly estimated as 12 × monthly. | 2026-11-09 |
| MyATMM Trade journaling & wheel tracking | True cost basis with option premium and dividend tracking across multiple portfolios. That's the number the wheel actually depends on. | Paid entry plan | $9.99 | $79.99 Yearly = annual plan price. | 2026-11-01 |
| Options Profit Calculator Strategy & P&L modeling | Free cash-secured put calculator plus spread and custom strategies, with P&L tables and charts by price and date. | Free tier | $0 | $0 | 2026-11-09 |
| tastylive Education | Free shows and market studies focused on selling premium. | Free | $0 | $0 | 2026-11-03 |
| Total | $15.98 | $151.87 | |||
Coverage
| Need | Status | Covered by |
|---|---|---|
| Screening & scanning | Covered | ThetaScanner, MyATMM (partial) |
| Unusual options flow | Gap | Not covered |
| Volatility & IV analytics | Gap | Not covered |
| Earnings & expected moves | Partial | ThetaScanner (partial) |
| Strategy & P&L modeling | Covered | Options Profit Calculator |
| Backtesting & automation | Gap | Not covered |
| Trade journaling & wheel tracking | Covered | MyATMM, ThetaScanner (partial) |
| Market data & API | Gap | Not covered |
| Education | Covered | tastylive |
| Trade ideas & alerts | Partial | tastylive (partial) |
| Gamma & dealer positioning | Gap | Not covered |
| Brokerage & execution | Covered | tastytrade |
Gaps
Not covered: Unusual options flow, Volatility & IV analytics, Backtesting & automation, Market data & API, Gamma & dealer positioning. Only partly covered: Earnings & expected moves, Trade ideas & alerts.
Cheaper swaps and upgrades
- Go to $0: ThetaScanner's free plan covers 12 major tickers, and Options Wheel Trading Tracker (free) is a free tracker with no signup that replaces MyATMM. MyATMM also has a free-forever plan with 1 portfolio and 3 tickers.
- Cheaper tracker: TrackTheta (from $10/mo) is free for up to 10 options a month. CoveredWheel (free) is free.
- All-in-one upgrade: QuantWheel (from $29/mo) combines a put/call screener, a wheel journal with rolls and assignments, and GEX tools, with broker sync for 15+ brokers. Its plans are billed quarterly.
- Want backtests of the wheel? Add Option Alpha (from $99/mo). Its Pro plan is free with a qualifying tastytrade account of $5,000+.
FAQ
How much does the wheel / premium-selling stack cost?
$15.98 a month or $151.87 a year (prices checked 2026-11-01 to 2026-11-09). The yearly figure for ThetaScanner is estimated as 12 × the monthly price because no annual price is verified. ThetaScanner and MyATMM are paid; the other tools are free plans. Brokerage commissions are extra.
What does this stack cover?
It fully covers 5 of 12 needs: Screening & scanning, Strategy & P&L modeling, Trade journaling & wheel tracking, Education, Brokerage & execution. Partly covered: Earnings & expected moves, Trade ideas & alerts. Not covered: Unusual options flow, Volatility & IV analytics, Backtesting & automation, Market data & API, Gamma & dealer positioning.
Can I change this stack?
Yes. Open it in the stack builder to add, remove or swap tools, switch tools between their paid and free plans, and see new totals and coverage. The builder keeps your stack in the link, so you can share it.
Prices as of 2026-11-09. Each price comes from the tool's own pricing page on the "price checked" date shown, in USD before tax. Totals use each tool's entry paid plan (or its free tier where you pick it). Commissions, data fees, add-ons and higher tiers aren't included. Coverage reflects the tool overall, so some needs require a higher plan ("partial"). Always confirm on the vendor's site before you buy. Not investment advice.
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