The Wheel Screener is a cloud‑based analytics platform designed specifically for traders using the wheel options strategy. It processes tens of thousands of options contracts each day and applies a custom risk‑adjusted scoring system to surface high‑probability, high‑reward trades. Users can filter by delta, open interest, bid‑ask spread, expiration, and other parameters to remove low‑quality data. The platform includes visual trend charts, market‑wide screening, and specialized datasets such as the “Magnificent 7.” It offers a strategy calculator to simulate cash‑secured puts and covered call outcomes using real option chain data. Additional supporting tools include curated trade ideas, filters for sectors and industries, and minute‑level simulations for advanced analysis. It is fully web‑based and accessible without installing software.

Key Features

Daily Market‑Wide Screening Analyzes the full options market with automated contract ranking.

• Processes 35,000+ contracts across 10,000 tickers daily
• Assigns a 0–100 risk‑adjusted score for fast trade evaluation

Advanced Filters & Data Cleaning Removes low‑quality trades through customizable parameters.

• Filter by delta, open interest, bid‑ask spread, and risk levels
• Sector, industry, and ticker‑specific refinements

Magnificent 7 Dataset Access Provides deep insights into top‑volume tickers.

• Premium users unlock full‑market data
• Trend charts for 7‑day, 30‑day, and YTD analysis

Strategy Simulation Tools Models wheel‑strategy outcomes with real data.

• Simulate cash‑secured puts and covered calls
• Adjust strike, expiration, and volatility for outcome comparison

Minute‑Level Scenario Modeling Supports deeper statistical analysis for decision making.

• Uses detailed simulations to compare alternative trade outcomes
• Enhances prediction accuracy for different price movements

Curated Trade Ideas & Education Supports both beginners and advanced traders.

• Provides recommended trade opportunities
• Includes step‑by‑step guidance on wheel execution

Benefits

Identifies High‑Quality Wheel Trades Quickly Reduces manual review time by highlighting optimal risk‑reward trades.

• Automated scoring system surfaces top opportunities
• Helps avoid mispriced or high‑risk contracts

Improves Trading Consistency With Data‑Driven Insights Supports systematic trading decisions rather than relying on intuition.

• Statistical simulations inform trade selection
• Filters remove noise and unreliable market data

Enhances Strategic Planning for Puts & Calls Allows users to model scenarios before entering trades.

• Compares strategies under different market conditions
• Helps optimize strike and expiration choices

Supports Both New and Experienced Wheel Traders Provides guidance and curated ideas for growth.

• Helps beginners learn the strategy using real data
• Saves time for experienced traders needing quick scans