A broker will display a cost basis, but that number shifts in the background after an assignment. Roll a covered call twice and the spreadsheet fails. Those formulas were never built to hold up through an assignment chain.
Wheel tracking works differently from ordinary trade journaling. The strategy moves through a cycle: sell puts, sometimes take ownership of the shares, then sell calls against them. A wheel strategy tracker has to follow the entire loop and keep the accounting accurate, rather than simply collect a list of trades.
Prices and features for all five tools were checked on October 28, 2026. Treat this as a roundup, not a head-to-head comparison. Each option suits a different trader, so choose the one that fits your actual need instead of the one marked “best.”
| Tool | Best for | Starting price | Getting data in | Export |
|---|---|---|---|---|
| PremiumGuardHQ | Cycle accounting and withdrawal math | Free, Pro $49 a month | Broker sync (Schwab, IBKR, Robinhood, Fidelity, tastytrade) plus CSV | No |
| WheelStrategyOptions | Screening first, at the lowest price | Free, Pro $19.99 a month | One broker sync on Pro, plus CSV | Yes, from Pro |
| QuantWheel | One workflow for screening, tracking and rolls | Free demo, GEX $49 a month, Wheel $79 | Broker sync, 15+ brokers | Not stated |
| WingmanTracker | Broad journaling across strategies | $49 a month, 30-day trial, no free tier | CSV import | Not stated |
| ThetaPal | Cheap position monitoring and roll alerts | Free, Pro $9.99 a month | Broker sync, about 15 brokers claimed | Yes, from Pro |
Pricing checked October 28, 2026 on each vendor’s own page.
Cycle accuracy and broker sync are the two places where these tools pull apart.
1. PremiumGuardHQ: Best for automatic cycle accounting and withdrawal discipline
After eight months of selling puts and calls, how much of that cash is actually yours to spend? You need a figure that matches your trades, not the broker’s messy version. PremiumGuardHQ was built to answer that question. It is a wheel tracker made only for wheel traders. Its job is to fix the cycle math brokers get wrong so the numbers line up with what actually occurred.
Pricing, verified October 28, 2026 on our own pricing page: The Free plan costs $0. Pro runs $49 a month or $470 a year. A 14-day Pro trial is free and asks for no credit card.
How it pulls in your data: PremiumGuardHQ never places trades. It only reads the account. Schwab links through OAuth, a secure login handoff rather than a shared password. Interactive Brokers links through a Flex token, which is a read-only key issued by IBKR. Robinhood, Fidelity, and tastytrade link through SnapTrade. Schwab and Interactive Brokers sync on the Free plan. Robinhood, Fidelity, and tastytrade need a paid plan, and the 14-day trial counts. A CSV file, which is a plain spreadsheet export from a broker, can also be uploaded on every plan.
The tool earns its price in three places. First, it handles cost basis through assignment. When a put becomes stock, the tracker adjusts the real purchase price instead of making you do the arithmetic by hand. Second, it connects the whole position. Sell a put, take assignment, sell three calls, and then get called away. That is one story, not five separate trades. Third, the Safe Withdrawal Engine reports the exact dollar amount you can take out of locked-in profits without reducing the equity you trade with.
The limitations are clear. PremiumGuardHQ has no screener, so it will not suggest a stock or a strike price. It has no roll finder, which means it will not tell you when or how to roll a position. There is also no data export button yet, so your trade history for tax time comes from your broker rather than from PremiumGuardHQ.
The tool fits traders who treat premium as income and want an exact read on what they earned and what they can safely withdraw. If the main need is a cheap way to screen for new trades, WheelStrategyOptions is the better choice.
Start with the free plan. Traders carrying real history across several accounts can use the 14-day Pro trial to see the withdrawal math for themselves.
2. WheelStrategyOptions: Best for cash-secured put and covered call screening
Traders who spend more time hunting for the next trade than logging the last one will find the balance reversed here. WheelStrategyOptions is wheel strategy software built for screening first and tracking second. It scans the market for cash-secured puts and covered calls that match your rules, then follows the trade after entry.
Pricing, verified October 28, 2026 on its pricing page: Free Forever includes a basic screener with limits at no cost. Pro runs $19.99 a month, $198 a year, or $399 as a one-time lifetime payment. Ultra costs $39 a month, and Maxx costs $99 a month on month-to-month billing.
On the data: WheelStrategyOptions credits Unusual Whales and Intrinio as its options data providers on its pricing page. Check a quote against your broker before you act on any screener result.
What you get: A cash-secured put screener and a covered call screener narrow the market to strikes and premiums that fit your rules, so you do not scroll ticker by ticker. Automated Wheel Cycle Detection treats the put, the assignment, and the calls that follow as one connected cycle rather than separate line items. Pro includes 15-minute delayed options chains, and live streaming chains start on Ultra.
For moving data in and out, WheelStrategyOptions Pro supports CSV import and export, plus sync of one brokerage with two years of history. A CSV is a plain spreadsheet file. You can pull one from your broker and upload it, or download one from the tool for your own records.
Two items need a caveat. Its Pro plan lists “Adjusted stock basis,” but its pages do not explain how that basis is calculated through assignment, so we cannot verify the method. There is also no separate mobile app. The site is built to work in a phone browser.
Best for: traders who want screening before tracking, at the lowest price among the full-featured tools on this list.
Start on Free Forever to test the screener. Move to Pro when cycle detection and delayed chains matter more than digging through raw options tables by hand.
3. QuantWheel: Best for an all-in-one wheel workflow with screening and rolls
A tracker that only records trades falls short when you also need to screen new positions and compare roll candidates. QuantWheel addresses that gap. It is a wheel-focused platform that combines trade tracking, stock screening, and a roll assistant. A roll means closing a current option and opening a new one, usually later in time or at another strike. QuantWheel removes the need for three separate apps to run the wheel.
Pricing, verified October 28, 2026 on its pricing page: The free demo uses sample data and delayed data, so there is no real money at risk. A paid plan opens with a $1, 7-day trial. Billed monthly, the GEX plan is $49, the Wheel plan $79 and the Quant plan $119. Billed every three months they work out to $29, $49 and $79 a month ($87, $147 and $237 a quarter), and billed annually to $19, $35 and $59 a month ($228, $420 and $708 a year).
How it connects to your broker: QuantWheel says it supports 15+ brokers through read-only connections, and its homepage lists about two dozen. Schwab, Fidelity, Robinhood, Interactive Brokers and Questrade are sync-only, so QuantWheel can see trades and positions there but cannot place orders. The GEX plan includes one broker connection. The Wheel and Quant plans state no limit. Broker sync is a paid feature, so the free demo cannot connect to your account.
What you actually get: Its options journal shows synced trades and what it calls true cost basis, and a breakeven line updates as premium is collected, including through rolls. The Roll Assistant is the main feature. It lets you compare roll choices side by side, so the math does not have to be done by hand. The Roll Finder and journal sit on the Wheel plan and above, not on GEX. An options selling screener searches for new cash-secured put and covered call candidates without leaving the platform. Options flow is Quant only.
A few details are not stated on QuantWheel’s own pages. We found no mention of spreadsheet export or a mobile app. Beyond the plain description on its site, we also cannot say exactly how the cost-basis engine works.
Want a deeper comparison? We covered PremiumGuardHQ against QuantWheel feature by feature in a separate head-to-head guide.
Best for: traders who want one workflow for screening, tracking, and rolls, rather than only the accounting piece.
If clean wheel tracking is all you need, the free demo shows the workflow, and the Wheel plan at $79 a month ($35 a month billed annually) adds broker sync, the journal and the Roll Finder. Traders who also follow options flow should look at the Quant plan at $119 a month billed monthly.
4. WingmanTracker: Best for broad journaling, not wheel-specific
Some traders would rather avoid a wheel-specific tool entirely. They want a general trading journal that also works for wheel trades. WingmanTracker is that tool. Everything below is what is confirmed on its own public pages as of October 28, 2026.
What it is: WingmanTracker is a general trading journal, not a wheel-first product. It handles wheel trades well enough, but nothing in it is built around the wheel’s sequence of puts, assignment, and calls.
Pricing, verified October 28, 2026 on its pricing page: One plan at $49 per month. It offers a 30-day risk-free trial and a money-back guarantee, but we found no free tier. The trial is the way to test it.
How it gets your data in: Its homepage describes exporting a CSV of transactions from your broker and importing it. No live broker sync is described, so plan on CSV uploads.
What it does well: It includes a cost-basis view that shows a position’s original trade price and cumulative cost basis across all activity since the first open. It also auto-groups trades by strategy and tracks expirations and rolls, even outside a wheel-specific structure.
What we couldn’t confirm: A few things do not appear on WingmanTracker’s public pages. No wheel screener was found, so there is no built-in way to scan for wheel candidates. It tracks rolls you make, but we found no roll finder, so identifying roll opportunities falls to you. No export feature was found either. Absence from public pages means we could not verify it, not that it definitely does not exist.
Best for: traders who want journaling and performance review across several strategies, rather than only the wheel, and who are comfortable structuring wheel cycles by hand.
Not ideal if: you need wheel cycle accounting that survives assignment automatically. Assignment happens when a broker forces the trade because the stock crossed the strike price. A wheel-native tool tracks that transition for you. We found no claim that WingmanTracker does.
Use the 30-day trial to see whether CSV import fits the way you actually work before committing.
5. ThetaPal: Best for lightweight position monitoring and roll alerts
ThetaPal keeps an eye on open positions and helps you find rolls. Rolling means closing the current option and opening a new one, usually later in time or at a different strike. ThetaPal is a monitoring, roll and research dashboard, not a full wheel tracker. It also bundles an AI market scanner and other research tools.
Pricing, verified October 28, 2026 on its pricing page: Free costs $0. Pro runs $9.99 a month. Premium runs $14.99 a month. Annual billing is $99.99 a year for Pro and $149.99 for Premium, advertised as 17% off. Pro is the cheapest paid tier on this list by a wide margin.
How it connects to your broker: ThetaPal syncs with your broker and shows SnapTrade as a partner on its pricing page. Its homepage lists Schwab, Fidelity, Robinhood, Vanguard, Webull, E*Trade, tastytrade and Interactive Brokers, among others. It claims 15+ brokerages but does not list them all, so we cannot give you a precise count. Free and Pro include one brokerage connection, and Premium includes five.
What you get: A color-coded tile dashboard shows which positions need attention at a glance, and an options heat map lays out every strike and expiration by delta. AI roll recommendations and a Quick Roll tool look for net-zero or near-zero credit rolls. Pro and Premium include CSV export, so data can be pulled into a spreadsheet. Free does not.
ThetaPal’s site does not spell out how it handles cost basis through assignment. Its homepage calls manual cost basis recalculation a spreadsheet problem it replaces, but gives no detail. Tracking the real purchase price after a put turns into stock is a specific, harder job. Think of it as a second set of eyes on positions already tracked elsewhere, not as the system of record for cycle profit and loss.
Best for: traders who want a cheap, simple way to watch positions and receive roll alerts, especially when full cycle accounting is not needed.
Not ideal if: you need assignment-aware cost basis and a real profit number for every completed cycle. That requires a tool built around cycle accounting, not just monitoring.
Start on Free to test the heat map and roll suggestions. Free shows only two positions, so it is a test drive rather than a full tracker. Move to Pro when CSV export becomes important.
A note on optionwheeltracker.app
An earlier version of this roundup included optionwheeltracker.app, a manual-entry wheel tracker. We could not re-verify it on October 28, 2026. Its site returned an HTTP 402 “Payment required” error with a disabled deployment, and a third-party directory listing marks it as offline. Because we cannot confirm its price, its features, or that it still operates, we removed its price and feature claims and dropped it from the comparison. It is a different site from optionwheeltracker.com and optionwheeltracker.ai, which we did not review.
How to pick the right wheel tracker for you
Before choosing a tool, identify the actual problem first. These five tools solve different problems. Searching for one “best” tool will likely point you to the wrong one.
Ask which of these sounds like you:
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I need a true cost basis after a put turns into stock. A put is a contract that can force you to buy shares at a set price. I want the full cycle linked together from the first put through every later trade.
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I need help finding new wheel trades, rather than only logging old ones.
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I need help deciding when to roll a position I already hold. Rolling means closing the current option and opening a new one, usually to buy more time.
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I just want a simple, honest ledger. A ledger is a record of your trades, and I will handle the rest by hand.
Each answer points to a different tool. The matching process works like this.
Criterion 1: Do you need assignment-aware cost basis?
Assignment occurs when a broker forces a trade because the stock crossed the strike price. The strike price is the set price written into the option contract. Assignment is where spreadsheets and simple trackers usually fail. The Options Industry Council explains what happens when an option is exercised, and we cover what assignment does to your cost basis in its own guide.
Check the vendor’s page for two items. First, look for a clear claim about handling cost basis through assignment. Second, see whether the tool links a full cycle as one story. A full cycle means the put, the assignment, and every call after it are connected rather than scattered as separate trades.
PremiumGuardHQ and QuantWheel both speak to this directly. ThetaPal does not spell it out. It watches positions and suggests rolls, but gives no detail on fixing cost basis after assignment. WheelStrategyOptions Pro lists adjusted stock basis, but its pages do not explain how that basis is calculated through assignment, so we cannot verify the method.
Criterion 2: Do you need screening, or just tracking?
Screening means searching the market for new trade setups. Tracking means recording trades that are already open or closed.
If you spend real time looking for new puts and calls to sell, a built-in screener matters. WheelStrategyOptions wins on screening depth and price. QuantWheel also screens, and adds a roll assistant and quant tools on top.
If you already like a screener elsewhere, skip this criterion and prioritize accounting depth instead. Paying for a second screener you will not use is wasted money. A tracker is not a practice account either, so if you are still rehearsing the strategy, an options trading simulator is the tool that belongs in that slot.
Criterion 3: How much manual work will you actually do?
Broker sync means trades appear on their own, pulled directly from a brokerage account. CSV import means exporting a spreadsheet from a broker and uploading it by hand. Manual entry means typing every trade yourself, one at a time.
Be honest about which method you will actually maintain. A broker sync you forget to check is no better than a spreadsheet you forget to update. If you want to try the manual route before paying for anything, building the tracker yourself in a spreadsheet shows exactly how much upkeep that choice costs you. When broker sync exists, choose read-only connections where possible. Read-only means the tool can see the account but can never place a trade or move money.
Criterion 4: Can you actually get your data back out?
Ask the vendor’s page one plain question. Can I export my data, and in what format? This matters at tax time, because the IRS sets out how your basis in an asset is defined and you are the one who has to support the number. If the answer is not stated anywhere public, treat it as not verified. Do not assume yes just because nothing says no.
PremiumGuardHQ has no export feature today. WheelStrategyOptions Pro and ThetaPal Pro and Premium support CSV export. QuantWheel and WingmanTracker do not mention export on their pages.
Criterion 5: What are your budget and trial constraints?
For the lowest ongoing cost, ThetaPal starts at $9.99 a month. For a one-time payment, WheelStrategyOptions Pro has a $399 lifetime option.
If you only want to sanity-check the arithmetic of one cycle before paying for anything, a free wheel strategy calculator covers that much without an account.
For trials, PremiumGuardHQ offers a 14-day Pro trial and does not ask for a credit card. WingmanTracker offers a 30-day risk-free trial, and QuantWheel opens paid plans with a $1, 7-day trial.
Quick-start recommendations
No tool wins in every situation. Start with the one that matches your use case:
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If you run the wheel like a business and pay yourself from profits: start with PremiumGuardHQ.
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If you want screening first at the lowest price: start with WheelStrategyOptions.
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If you want cheap roll suggestions and position monitoring, nothing deeper: start with ThetaPal.
Frequently asked questions
What is a wheel strategy tracker, and why does assignment break spreadsheets?
A wheel strategy tracker follows the full cycle: the put sold, the shares assigned, and every covered call sold afterward. Assignment happens when a broker forces the trade because the stock crossed the strike price. Regular spreadsheets log each trade on a separate line, so when a put turns into stock, the real cost basis is not updated by hand. That leaves the break-even number wrong until you catch it yourself.
Do these tools calculate cost basis through assignment automatically?
Only a few make this clear. PremiumGuardHQ and QuantWheel both directly claim assignment-aware cost basis, meaning they adjust the real purchase price after a put becomes stock. WheelStrategyOptions Pro lists adjusted stock basis, but its pages do not explain how that basis is calculated through assignment, so we cannot verify the method. WingmanTracker shows a cumulative cost basis view, though it is not wheel-specific. ThetaPal does not spell this out on its site. It watches positions and suggests rolls, but it is not described as fixing cost basis after assignment.
Can I export my wheel trades for taxes?
The answer varies by tool. WheelStrategyOptions Pro supports CSV export, a plain spreadsheet file you can hand to an accountant. ThetaPal offers CSV export on Pro and higher. PremiumGuardHQ has no export feature today. Export support for QuantWheel and WingmanTracker is not stated on their public pages, so do not assume either way.
Do I need a screener built into my wheel tracker?
Only if you spend real time hunting for new trades rather than just logging the ones already made. A screener searches the market for cash-secured puts and covered calls that fit your rules. WheelStrategyOptions is the strongest pick at the lowest price. If you already screen somewhere else, skip this and prioritize accounting depth and clean broker imports instead. Paying for a screener you will not use just wastes money.