Free tools
Wheel yield calculator
Estimate one complete put-to-covered-call cycle, including premiums, fees and the share-price gain or loss.
Your inputs
Example values are provided. Replace them with your own scenario. Prices and premiums are in USD per share; fees are per contract.
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.
Common questions
- 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.
The free YieldCove newsletter
Get The Wheelhouse in your inbox
Three briefings a week — market context, practical wheel-strategy ideas and YieldCove updates. Free to read. Unsubscribe anytime.
Educational only — not financial advice.