How to Place Trades (We're a Screener & Tracker, Not a Broker)

The short answer

Wheel Strategy Options does not place trades. We are a screener (find opportunities) and tracker (log performance) — not a brokerage.

You find contracts here, then enter the order at your broker (Robinhood, Webull, Fidelity, Interactive Brokers, etc.).

The wheel workflow end to end

1. Screen — use the CSP screener or covered call screener with filters that match your risk (delta, DTE, yield, cushion, IV, etc.).
2. Decide — pick a row from the results table. Click through to confirm liquidity, earnings dates, and your sizing.
3. Execute at your broker — open the same symbol, expiration, and strike at your brokerage app or platform. Place a sell to open order for the put or call.
4. Track — log the trade in the Trade Tracker manually or via broker sync so premium income and cost basis stay accurate.

That loop — screen → broker → track — is the core wheel workflow on WSS.

Placing a cash-secured put from screener results

From the screener table, note:

• Symbol (e.g., AAPL)
• Expiration date
• Strike price
• Premium (bid/ask — use a limit order near mid or your target credit)

At your broker:

1. Open the options chain for that symbol and expiration.
2. Select the same strike put.
3. Choose Sell to open (not buy).
4. Set contracts — each contract = 100 shares; ensure you have enough cash to secure the put.
5. Use a limit order at your target credit (e.g., the screener's bid or mid).
6. Submit and wait for fill.

After fill, add the trade to Trade Tracker (or let broker sync import it).

Placing a covered call from screener results

You must own at least 100 shares per contract before selling a covered call.

1. Screen on the covered call screener.
2. At your broker, open the call options chain for the expiration shown.
3. Sell to open the call at the strike from your screener row.
4. Confirm the broker shows the position as covered (shares held against the short call).

Understanding cushion / moneyness

Users often ask about deep in-the-money covered calls or how far a strike sits from the stock price. On WSS this is the Cushion (Moneyness) filter:

• Positive cushion = out-of-the-money (strike farther from the money — generally safer for sellers)
• Zero = at-the-money
• Negative cushion = in-the-money (higher premium, higher assignment risk)

Example: to scan for ITM covered calls, set Cushion less than 0 on the CC screener. Full guide: Moneyness Filter.

Why we don't execute trades

Brokers hold your cash and shares, route orders to exchanges, and carry regulatory licenses WSS doesn't need for a research and analytics product. Keeping execution at your broker also means you control fills, margin, and account type (taxable vs IRA).

Our job is to help you find better setups faster and measure whether your wheel is working over time.

After you place the trade

• Track premium in Trade Tracker → Performance → Income Calendar
• Monitor cost basis after assignment → Adjusted Stock Basis
• Re-screen when positions expire or you roll

Related guides

• Options Screener Overview — 5-minute screener tour
• Moneyness / Cushion Filter — ITM vs OTM screening
• Trade Tracker Overview — logging and sync