Free tool · Wheel yield · no signup
Wheel yield calculator One full cycle, every dollar counted.
Estimate one complete put-to-covered-call cycle, including premiums, fees and the share-price gain or loss.With these inputs the cycle makes $798.00 over 60 days — 48.54% annualized.
Profit if shares are called away
$798.00
Return over this cycle
7.98%
Simple annualized return
48.54%
Total premiums after fees
$298.00
Cash securing the put
$10,000.00
Share-price breakeven
$97.02
01
Your inputs
Example values are provided. Replace them with your own scenario. Prices and premiums are in USD per share; fees are per contract.
02
Your estimate
One 100-share contract: the put is assigned, then the covered call finishes with the shares called away. Each option leg incurs the entered fee.
- Profit if shares are called away
- $798.00
- Return over this cycle
- 7.98%
- Simple annualized return
- 48.54%
- Total premiums after fees
- $298.00
- Cash securing the put
- $10,000.00
- Share-price breakeven
- $97.02
Simple annualization scales this cycle’s return to 365 days; it is not a forecast. No compounding, idle cash, dividends, taxes, early assignment or closing trades are modeled.
Like this cycle? Save the put leg to a free tracker and YieldCove follows the wheel from there.
03
Worked example
The default scenario, computed with this tool’s own math — replace the inputs above with your trade.
Sell a $100.00 put for $2.00 and get assigned after 30 days, then sell a $105.00 call for $1.00 and get called away — 60 days in all. Premiums bring $298.00 after fees and the shares add $500.00: $798.00 on the cycle, 7.98% of the cash, about 48.5% a year.
- Total premiums after fees
- $298.00
- Share gain, put to call strike
- $500.00
- Profit if shares are called away
- $798.00
- Return over this cycle
- 7.98%
- Simple annualized return
- 48.5%
04
Common questions
What the numbers mean — and what they leave out.
- Does this measure premium income only?
- No. Cycle profit includes both net premiums and the difference between the call and put strikes on 100 shares. A lower call strike can turn the cycle into a loss.
- Is the annualized return guaranteed?
- No. It assumes this example’s return repeats at the same pace. Real prices, premiums, assignment timing and gaps between trades change the result.
05
The rest of the workbench
Every free tool, one click away — plus the terms behind these numbers.
Next steps
Plan the trade before you place it: the position size calculator shows how many shares or contracts fit your risk, the options profit calculator draws the payoff at expiry, the risk/reward calculator weighs the target against the stop, and the drawdown simulator shows how deep a run of losses can go. New to options? Start with the free lessons Why sell options instead of buy them, Reading an options chain and The Greeks, in plain English.
Terms behind the numbers
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Keep going
Priced a trade? Track it for real, or learn the ideas behind the numbers.
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