IT IS READ-ONLY. Wheelwright connects to your broker to read positions, cash and resting orders. It can never place, change or cancel an order. All trading happens in your broker's own app.
What it does
Five things
- Reads your book. Accounts, share lots, short options and resting buy-to-close orders.
- Flags what needs attention. Profit targets hit, management windows reached, deltas past your roll trigger, assignments approaching.
- Suggests positions that fit your rules. When nothing fits, it says so and says why.
- Checks a trade you're considering against your own gates: one line per check, with the number it measured beside the limit you set.
- Tracks your monthly income target per account, and says when you're behind.
Why the name
A wheelwright keeps a wheel true
The strategy it was built for is called the wheel. Four phases, each with its own rules about when to act and when to leave it alone. Most of the work is knowing which phase each position is in.
Sell a put
Cash secured, at a strike where you would be fine owning the shares. Collect the premium.
Take assignment
If the shares are put to you, you own them at the strike less the premium.
Sell a call
Covered by those shares, above your basis. Collect premium again.
Get called away
The shares leave at the strike, the cash comes back, and you start again.
The strategy is simple. Keeping track of a dozen positions across several accounts, each at a different point in the cycle, is the part that takes work.
The rules are yours
Nothing here is a recommendation
You set the delta bands, the days-to-expiry window, the minimum annualized yield, the notional cap and its per-name share, and the profit-capture target. Wheelwright applies them and shows the arithmetic. Change a limit and the verdicts change with it.
It holds nothing, routes nothing, and settles nothing.
No personalized advice. Every order is yours to place and yours to own.
The same book and the same rules give the same answer every time. There is no AI in the money math.
Honest about its data
An unknown is reported as an unknown
Option chains, greeks and implied volatility come from the most recent settled market close, under the data provider's licensing terms. Your positions are priced from your broker. Market-data figures say which session they came from.
If a check cannot be made, because there is not enough history for an implied-volatility rank or an earnings date is missing, Wheelwright says so instead of guessing.