How many contracts should I sell for the wheel?

Many traders limit each position to 5-10% of portfolio. Max contracts = (portfolio × risk%) ÷ (strike × 100). This keeps you diversified.

Wheel Strategy Position Size Calculator

How many contracts can you trade given your portfolio size and risk per position?

Portfolio size

Risk per position (%)

Strike price

Screen 2,000,000+ option contracts with powerful filters for premium yield, delta, IV rank, and more.