August 17, 2025 • 12 mins
Most Wheel traders are leaking cash every single month without even realizing it — and the culprit is almost always sloppy trade tracking. In this video, I’m breaking down exactly how I log and review every single trade in my portfolio so I know exactly where my money is going, where it’s coming from, and where it’s bleeding. You’ll see my personal system that plugs the holes in the Wheel strategy and gives you a clear ROI picture in seconds. If you’ve ever wondered why your premiums don’t add up the way they should, this will change the way you run your trades forever.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Your wheel strategy trades are bleeding premium and you have
no idea it's even happening. And it's most likely because
you are not tracking your trades properly. In today's DA,
I'm gonna show you exactly how I track my trades
and giving you my spreadsheet. Yo, what is going on,
premium chasers? I hope you are having a god blessed
(00:20):
day today. Every single person that comments down below is
going to be getting all of my calculators completely for free,
my cash gear putt, my cover call calculator, and a
bunch of other free bonuses. Drop a comment down below
while you're down there, hit that legmund and hit that
subscribe button. But guys, let's go over the shoulder, because
we're going to be specifically talking about today how to
track your real strategy trades. Now, everybody's got their own strategy,
(00:43):
and I recommend you take this information that I give you, guys,
and go use it for yourself, right, go develop your
own things. Maybe there's something, Pete, Pete, you're doing something
I don't like. I'm gonna change it up and do
this fantastic. Then my job is done. Let's go into it.
So first and foremost right, you need some proper columns
in place. I'm gonna show you guys how I'm tracking
my live portfolio trades. Here in a second that has
(01:06):
gone through a few wheel strategy trades already. First thing
I like to do is set the date that I
did to trade. Right left side column? What is the
date I did to trade? What strategy am I doing? Is? Next? Right?
Am I doing a covered call? Am I doing a
cast secured put? You can get if here if you
guys are doing like some other trading strategies as well.
(01:26):
I'm specifically talking about covered calls and cast secured puts
because that's what I primarily focus on. Very rarely will
I occasionally throughout the year I'll do like some iron colendors.
Maybe some leaps here and there, but for the most part,
I really just try to stick to my plan. Next
is expiration date. I'm putting what is my expiration date
on that specific contract? This lets me quickly see, right,
(01:49):
how many you know what was my date of trade
and ever expiration usually I'm doing. I'm usually doing either
a weeklies or I'm doing thirty to forty five days
most likely usually closer to that thirty day. Next is stock,
What's what's the damn stock that I did this one? Right?
That's next? What is my strike price? Okay? The strike
price here is what is the price of my option? Right?
(02:11):
So like, for example, if I'm saying I'm buying at
an eleven dollars put here, right, what that would be
the strike price? Right? So that's what I'm putting in there,
and you'll see why here in a second. Next is contracts.
How many contracts? It helped me quickly visually see if
I did two contracts, that means two hundred shares. My
total premium is how much is my total premium that
(02:32):
I collected? Okay, this is important? How what was my
total premium collected? Right, including like if I did two
contracts and like it was like fifty bucks or whatever,
I'm putting fifty dollars total. I'm not putting like twenty
five all right. Next is going to be my collateral
or my purchase price. Okay. I treat that very similarly. Okay,
(02:55):
whether I have my underlying asset is cash or stock,
for you know, either cash or a cover call, I'm
treating them the same. They literally in my mind, I
try to be like, it's just money. It's just money,
like it is a company like obviously, but to me,
it's just cash, right, Like, how do I take this
cash that I have, you know, owning this asset and
put it to work? That's how I look at it.
(03:17):
So if I own like one hundred shares of a
company at twenty five dollars, you know, that's twenty five
hundred dollars, right, Like, I'm looking at it as twenty
five hundred dollars, right because that's my cost space is
that's that I'm literally looking at it like that. Okay,
Next is my outcome? Or we're gonna talk about that
in a second. Right? What did I do? Now? Right here?
This is where I have a nice little color coding
for you. Right, Well, was my outcome? Did you close
(03:38):
your position early? Did you get your shares called away?
Meaning did they get sold? Right? Were your shares assigned?
Meaning did you have to buy your shares? Right? Did
you like a cash secret? Put I was assigned, I
had to buy the shares? Right? Next is did I expire?
Sometimes things we just let them go to expiration? Cool? Right?
We note that that means we captured the full amount
(03:58):
of premium, we didn't give any of it back to
those uh to the market. And lastly is rolling. For
the most part, these are the five outcomes that can
happen in a wheel strategy trade. Okay, Next is bought
to close, right. This is the bought to close column.
This is if we had to give a little bit
of back of that premium that we collected here to
(04:21):
close our cast secured put or our covered call position early. Okay.
Very important to note this because we need to know
how much we're giving back to factor into our ROI right,
Like very simple, right, So what I bought to close?
What's that amount? Next is appreciation profit. This is primarily
on the covered call side. Right. You will occasionally have
(04:43):
to sell your one hundred shares right of a stock
when you're running covered calls. We know that, Okay, So
when I have my appreciation profit, I'm gonna put that.
So if it's like one hundred bucks or one thousand
bucks or ten thousand dollars, I'm gonna factor that into
my appreciation profit. Right. There, Then is my nets right,
This is factoring in my closing costs. Right, my cost
(05:04):
to buy, my cost to sell, my appreciation right, it's
factoring all that into my actual net return, right, and
then lastly is my actual return percentage. This is a
very critical column for me because I will I live
in this calculator, guys, and I keep it intentionally simple
for me. I am planning to actually very soon and
(05:28):
if anybody actually knows anybody, shoot me an email Peter
and only Peter Pru. I am planning to develop a
completely free software tool that's gonna be like web based,
that's gonna basically be this for option sellers, but also
advanced stuff in there as well, and then you can
make it as simple or advance as much information as
(05:49):
you want. Now, if you know a developer somebody that
can help me with something very simple like that, before
I go to my favorite place on Earth, upwork or five,
or maybe I'm probably gonna go upwork. Obviously five not
really good for what I'm looking for. Let me know,
eat tell them to email Peter at only Peter Perue.
All right, I want to make this primarily for our
free for our Mastermind group. But if you're in and
(06:09):
if you're interested in that Mastermind group and the ark
option strategy, to click that first thing to the description
and then we have our total and our average return. Okay,
so let me show you guys. So we went over
a lot here in a short period of time. It's
all pretty self explanatory. But again, this is my thing.
There may be some information that you want. And this,
this whole conversation really started yesterday in our mastermind group
(06:32):
where you know, some people like we have some amazing
members and that are taking my spreadsheets and have done
insane things to them, like just way more advanced than
my simple brain could even fathom. Right, And then we
have people that just want specific things and and that's
why I want to create like this, this this tool
that makes it as simple or as advanced as you
really like and giving you the information that you need.
(06:54):
So again, tell them to email me Peter at only
Peter Pru. So here is a live trade log of
how lock things. Okay, so right here is my open
positions in white. We're going to quickly go through a
couple things. If it's in white, that means it's currently open.
That means that is a thing that's open right now.
So if I go over to you know, my public
(07:15):
fidelity account, you see I have four positions open right here, one, two, three, four, Right,
I have four, five and two snapchat puts cool, Right,
I come back over here. I have four positions open right,
that's literally it right, snap five or snap at ford? Right.
I have my premium or my strike price. I have
how many contracts I did just one? Right? How much
of my total premium was? How much of my collateral
(07:36):
is being locked up? And then my net? Right? My
net is obviously equal to my premium right here. But
for example, if I like spent five dollars here to
close this out right, it would factor that into the net.
It would take that five or whatever it is, and
then factor it into your actual return. Right. That's why
I say my return is my north star. For the
most part, usually it's very specific. Management of the wheel
(07:59):
strategy is very very uh. It takes time to figure
out what works for you, and the only way you
learn by this is actually doing it and then figuring
out what works for you. You're you might close a
position I would let let go to expiration. I'm a
close a position that you would be like, hey, I'm
taking that and going so that it's it's it's it's
it's a it's relative. That's why I think it's important
to surround yourself with people doing this day in and day.
(08:20):
I say often on this channel, guys, like, my game
in this has gotten so much better because of our
mastermind group that I'm exposed to everybody's trade ideas, what
they're doing, how they're managing them. It's awesome. So get
yourself involved in something, guys, because your game will get
better with this. So for example, right, what is all
of my stuff that is open? Right? Next is my Well,
(08:44):
I'm colorblind, so I have no idea what color this is.
I I color code things very very specifically. But you
can see here I put closed early right, So right
here I had two contracts of a caster could put
two caster could puts on American airlines for eleven dollars. Now,
if they were different rent, I would have two separate lines. Okay, crazy, right,
(09:04):
two contracts forty two dollars collected. Right. I closed this
position early. I did it. It took me six dollars to
close that position out, and I netted thirty six to
fifty nine for a one point six return. Obviously the
results fire for no not financial advice, you will These are
premiums that I only collected and your results will one
hundred percent varied. So up above that one. Right, we
have a called away, Right, we have a covered call
(09:26):
on Sofi. Our strike price was seventeen fifty right, seventeen
fifty are we had a total premium two hundred and
thirty three dollars. See this is important. My collateral or
purchase price is sixteen oh nine. My cost basis for
my Sofi shares was sixteen dollars and nine cents. So
(09:48):
I just treat it like it's cash. I don't treat
it like anything else, right, it is cash to me.
So sixteen oh nine those shares ended up getting sold
for seventeen fifty. So I say, called away, I get
an appreciation profit one hundred and fifty. I factor that
into my net here, right, which is my total premium
plus my appreciation profit for a nice juicy return. Now,
(10:09):
obviously that return I factor in my roles. I lost
my return on roles because we knew that, so if
I was running right, So the roles, I treat them
very simply. Right, It's just another lineup. It's a buye
to close and a sell to open. Guys, and I
put my my role here, and I factor in right, Hey,
my net was lower. Right, I had to spend forty
(10:32):
three dollars to roll this position. I had to spend
two hundred and thirteen dollars to roll this position. Now
that all factors in together here, okay, so whoa what
was that? I don't know what just happened here, But
with that said, right, very important. This will get convoluted
to you. Let me get a sipick off for you, guys.
We got something in my throat. This will grow right
(10:55):
over a course of a year, this will get larger
and larger and larger. What I do I will just
simply hide this. I will hide this when when they're
closed boom. Now I only see my open positions, right,
and then if I need to reference something, I just
show them again. It's crazy. And then I'll do like
a control f and then I'll like search for my
stock symbol and like see, okay, what was the trade
(11:16):
that I did there? Blah blah blah what was the outcome?
Like it's literally, guys, like I'm not even kidding like this.
This is just simple for me, right, And I do
this on a yearly basis usually unless it gets unless
I'm trading a ton and there's like, you know, one
hundredsun hundreds of lines, then I will. But usually as
an option seller, I'm not trading you a thousand times
a year, right, So it's not gonna it's not gonna
(11:37):
be you know, a crazy spreadsheet. And then after the year,
I literally duplicate it and then I have twenty twenty six,
twenty twenty seven, twenty twenty eight, and so on and
so on. Guys, if you want mentorship and be part
of a mastermind of option sellers, both people that are
getting started and people that are veterans in this space
absolutely crushing it, click the first thing of this scription
(12:00):
of today's So you're going to learn about the arc
option strategy, how you can further right clog the leaky
holes that is the wheel strategy, and really things that
you aren't even seeing, little things that you can do,
like earning interests on your custoer, your book collat or
which so many people don't even do or set up
correctly right, that is going to make the wheel strategy
way better for you. Click the first link in the
(12:21):
description of today's video to learn more about that. Guys, Remember,
sell options, collect premiums, repeat, i'll cl tomorrow.
Your wheel strategy trades are bleeding premium and you have
no idea it's even happening. And it's most likely because
you are not tracking your trades properly. In today's DA,
I'm gonna show you exactly how I track my trades
and giving you my spreadsheet. Yo, what is going on,
premium chasers? I hope you are having a god blessed
(00:20):
day today. Every single person that comments down below is
going to be getting all of my calculators completely for free,
my cash gear putt, my cover call calculator, and a
bunch of other free bonuses. Drop a comment down below
while you're down there, hit that legmund and hit that
subscribe button. But guys, let's go over the shoulder, because
we're going to be specifically talking about today how to
track your real strategy trades. Now, everybody's got their own strategy,
(00:43):
and I recommend you take this information that I give you, guys,
and go use it for yourself, right, go develop your
own things. Maybe there's something, Pete, Pete, you're doing something
I don't like. I'm gonna change it up and do
this fantastic. Then my job is done. Let's go into it.
So first and foremost right, you need some proper columns
in place. I'm gonna show you guys how I'm tracking
my live portfolio trades. Here in a second that has
(01:06):
gone through a few wheel strategy trades already. First thing
I like to do is set the date that I
did to trade. Right left side column? What is the
date I did to trade? What strategy am I doing? Is? Next? Right?
Am I doing a covered call? Am I doing a
cast secured put? You can get if here if you
guys are doing like some other trading strategies as well.
(01:26):
I'm specifically talking about covered calls and cast secured puts
because that's what I primarily focus on. Very rarely will
I occasionally throughout the year I'll do like some iron colendors.
Maybe some leaps here and there, but for the most part,
I really just try to stick to my plan. Next
is expiration date. I'm putting what is my expiration date
on that specific contract? This lets me quickly see, right,
(01:49):
how many you know what was my date of trade
and ever expiration usually I'm doing. I'm usually doing either
a weeklies or I'm doing thirty to forty five days
most likely usually closer to that thirty day. Next is stock,
What's what's the damn stock that I did this one? Right?
That's next? What is my strike price? Okay? The strike
price here is what is the price of my option? Right?
(02:11):
So like, for example, if I'm saying I'm buying at
an eleven dollars put here, right, what that would be
the strike price? Right? So that's what I'm putting in there,
and you'll see why here in a second. Next is contracts.
How many contracts? It helped me quickly visually see if
I did two contracts, that means two hundred shares. My
total premium is how much is my total premium that
(02:32):
I collected? Okay, this is important? How what was my
total premium collected? Right, including like if I did two
contracts and like it was like fifty bucks or whatever,
I'm putting fifty dollars total. I'm not putting like twenty
five all right. Next is going to be my collateral
or my purchase price. Okay. I treat that very similarly. Okay,
(02:55):
whether I have my underlying asset is cash or stock,
for you know, either cash or a cover call, I'm
treating them the same. They literally in my mind, I
try to be like, it's just money. It's just money,
like it is a company like obviously, but to me,
it's just cash, right, Like, how do I take this
cash that I have, you know, owning this asset and
put it to work? That's how I look at it.
(03:17):
So if I own like one hundred shares of a
company at twenty five dollars, you know, that's twenty five
hundred dollars, right, Like, I'm looking at it as twenty
five hundred dollars, right because that's my cost space is
that's that I'm literally looking at it like that. Okay,
Next is my outcome? Or we're gonna talk about that
in a second. Right? What did I do? Now? Right here?
This is where I have a nice little color coding
for you. Right, Well, was my outcome? Did you close
(03:38):
your position early? Did you get your shares called away?
Meaning did they get sold? Right? Were your shares assigned?
Meaning did you have to buy your shares? Right? Did
you like a cash secret? Put I was assigned, I
had to buy the shares? Right? Next is did I expire?
Sometimes things we just let them go to expiration? Cool? Right?
We note that that means we captured the full amount
(03:58):
of premium, we didn't give any of it back to
those uh to the market. And lastly is rolling. For
the most part, these are the five outcomes that can
happen in a wheel strategy trade. Okay, Next is bought
to close, right. This is the bought to close column.
This is if we had to give a little bit
of back of that premium that we collected here to
(04:21):
close our cast secured put or our covered call position early. Okay.
Very important to note this because we need to know
how much we're giving back to factor into our ROI right,
Like very simple, right, So what I bought to close?
What's that amount? Next is appreciation profit. This is primarily
on the covered call side. Right. You will occasionally have
(04:43):
to sell your one hundred shares right of a stock
when you're running covered calls. We know that, Okay, So
when I have my appreciation profit, I'm gonna put that.
So if it's like one hundred bucks or one thousand
bucks or ten thousand dollars, I'm gonna factor that into
my appreciation profit. Right. There, Then is my nets right,
This is factoring in my closing costs. Right, my cost
(05:04):
to buy, my cost to sell, my appreciation right, it's
factoring all that into my actual net return, right, and
then lastly is my actual return percentage. This is a
very critical column for me because I will I live
in this calculator, guys, and I keep it intentionally simple
for me. I am planning to actually very soon and
(05:28):
if anybody actually knows anybody, shoot me an email Peter
and only Peter Pru. I am planning to develop a
completely free software tool that's gonna be like web based,
that's gonna basically be this for option sellers, but also
advanced stuff in there as well, and then you can
make it as simple or advance as much information as
(05:49):
you want. Now, if you know a developer somebody that
can help me with something very simple like that, before
I go to my favorite place on Earth, upwork or five,
or maybe I'm probably gonna go upwork. Obviously five not
really good for what I'm looking for. Let me know,
eat tell them to email Peter at only Peter Perue.
All right, I want to make this primarily for our
free for our Mastermind group. But if you're in and
(06:09):
if you're interested in that Mastermind group and the ark
option strategy, to click that first thing to the description
and then we have our total and our average return. Okay,
so let me show you guys. So we went over
a lot here in a short period of time. It's
all pretty self explanatory. But again, this is my thing.
There may be some information that you want. And this,
this whole conversation really started yesterday in our mastermind group
(06:32):
where you know, some people like we have some amazing
members and that are taking my spreadsheets and have done
insane things to them, like just way more advanced than
my simple brain could even fathom. Right, And then we
have people that just want specific things and and that's
why I want to create like this, this this tool
that makes it as simple or as advanced as you
really like and giving you the information that you need.
(06:54):
So again, tell them to email me Peter at only
Peter Pru. So here is a live trade log of
how lock things. Okay, so right here is my open
positions in white. We're going to quickly go through a
couple things. If it's in white, that means it's currently open.
That means that is a thing that's open right now.
So if I go over to you know, my public
(07:15):
fidelity account, you see I have four positions open right here, one, two, three, four, Right,
I have four, five and two snapchat puts cool, Right,
I come back over here. I have four positions open right,
that's literally it right, snap five or snap at ford? Right.
I have my premium or my strike price. I have
how many contracts I did just one? Right? How much
of my total premium was? How much of my collateral
(07:36):
is being locked up? And then my net? Right? My
net is obviously equal to my premium right here. But
for example, if I like spent five dollars here to
close this out right, it would factor that into the net.
It would take that five or whatever it is, and
then factor it into your actual return. Right. That's why
I say my return is my north star. For the
most part, usually it's very specific. Management of the wheel
(07:59):
strategy is very very uh. It takes time to figure
out what works for you, and the only way you
learn by this is actually doing it and then figuring
out what works for you. You're you might close a
position I would let let go to expiration. I'm a
close a position that you would be like, hey, I'm
taking that and going so that it's it's it's it's
it's a it's relative. That's why I think it's important
to surround yourself with people doing this day in and day.
(08:20):
I say often on this channel, guys, like, my game
in this has gotten so much better because of our
mastermind group that I'm exposed to everybody's trade ideas, what
they're doing, how they're managing them. It's awesome. So get
yourself involved in something, guys, because your game will get
better with this. So for example, right, what is all
of my stuff that is open? Right? Next is my Well,
(08:44):
I'm colorblind, so I have no idea what color this is.
I I color code things very very specifically. But you
can see here I put closed early right, So right
here I had two contracts of a caster could put
two caster could puts on American airlines for eleven dollars. Now,
if they were different rent, I would have two separate lines. Okay, crazy, right,
(09:04):
two contracts forty two dollars collected. Right. I closed this
position early. I did it. It took me six dollars to
close that position out, and I netted thirty six to
fifty nine for a one point six return. Obviously the
results fire for no not financial advice, you will These are
premiums that I only collected and your results will one
hundred percent varied. So up above that one. Right, we
have a called away, Right, we have a covered call
(09:26):
on Sofi. Our strike price was seventeen fifty right, seventeen
fifty are we had a total premium two hundred and
thirty three dollars. See this is important. My collateral or
purchase price is sixteen oh nine. My cost basis for
my Sofi shares was sixteen dollars and nine cents. So
(09:48):
I just treat it like it's cash. I don't treat
it like anything else, right, it is cash to me.
So sixteen oh nine those shares ended up getting sold
for seventeen fifty. So I say, called away, I get
an appreciation profit one hundred and fifty. I factor that
into my net here, right, which is my total premium
plus my appreciation profit for a nice juicy return. Now,
(10:09):
obviously that return I factor in my roles. I lost
my return on roles because we knew that, so if
I was running right, So the roles, I treat them
very simply. Right, It's just another lineup. It's a buye
to close and a sell to open. Guys, and I
put my my role here, and I factor in right, Hey,
my net was lower. Right, I had to spend forty
(10:32):
three dollars to roll this position. I had to spend
two hundred and thirteen dollars to roll this position. Now
that all factors in together here, okay, so whoa what
was that? I don't know what just happened here, But
with that said, right, very important. This will get convoluted
to you. Let me get a sipick off for you, guys.
We got something in my throat. This will grow right
(10:55):
over a course of a year, this will get larger
and larger and larger. What I do I will just
simply hide this. I will hide this when when they're
closed boom. Now I only see my open positions, right,
and then if I need to reference something, I just
show them again. It's crazy. And then I'll do like
a control f and then I'll like search for my
stock symbol and like see, okay, what was the trade
(11:16):
that I did there? Blah blah blah what was the outcome?
Like it's literally, guys, like I'm not even kidding like this.
This is just simple for me, right, And I do
this on a yearly basis usually unless it gets unless
I'm trading a ton and there's like, you know, one
hundredsun hundreds of lines, then I will. But usually as
an option seller, I'm not trading you a thousand times
a year, right, So it's not gonna it's not gonna
(11:37):
be you know, a crazy spreadsheet. And then after the year,
I literally duplicate it and then I have twenty twenty six,
twenty twenty seven, twenty twenty eight, and so on and
so on. Guys, if you want mentorship and be part
of a mastermind of option sellers, both people that are
getting started and people that are veterans in this space
absolutely crushing it, click the first thing of this scription
(12:00):
of today's So you're going to learn about the arc
option strategy, how you can further right clog the leaky
holes that is the wheel strategy, and really things that
you aren't even seeing, little things that you can do,
like earning interests on your custoer, your book collat or
which so many people don't even do or set up
correctly right, that is going to make the wheel strategy
way better for you. Click the first link in the
(12:21):
description of today's video to learn more about that. Guys, Remember,
sell options, collect premiums, repeat, i'll cl tomorrow.
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