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OptionScoutOptionScout
Learning-Focused Trading
Wheel Strategy

Trade smarter.
Wheel smarter.

OptionScout helps you find the best stocks for the Wheel Strategy with smart screening and hands-on learning. Bridge the gap between theory and real-world implementation.

Run the ScreenerSee PricingSee How the Wheel WorksStart the curriculum

The Wheel cycle

Three steps, one repeatable income cycle.

The Wheel earns options premium at every leg — whether you own the stock or not.

01

Sell a cash-secured put

Collect premium upfront on a stock you'd own anyway — cash secured, strike chosen by you.

02

Get assigned (buy the shares)

If the put expires in-the-money you take shares at your strike — a discount to today's price.

03

Sell a covered call

Sell a covered call against those shares to earn more premium while you wait for a profitable exit.

Repeat
Read the full Wheel explainer →

Core Features

Everything you need to master the Wheel

From intelligent screening to guided position management, OptionScout provides the tools and knowledge to pursue consistent income through options.

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Smart Stock Screening
Our intelligent filters identify stocks with the right balance of premium income potential and assignment risk, tailored specifically for Wheel Strategy success.
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Interactive Learning
Practice identifying suitable candidates, evaluating strike prices and expiration dates, and understanding risk management — all in a risk-free simulated environment.
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Structured Wheel Process
Follow the cyclical Wheel Strategy step-by-step: sell cash-secured puts, manage assignments, and sell covered calls — with guided prompts at each stage.
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Risk Management Tools
Understand position sizing, assignment exposure, and exit strategies before committing capital. Build confidence with every trade through systematic analysis.
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Try the Paper Simulator
Walk through the full Wheel cycle — sell a cash-secured put, take assignment, sell a covered call, then close. Runs in your browser, no signup.
Open the simulator

The Wheel Cycle

Three steps to a single Wheel cycle

Each leg of the cycle plays out in order — premium in, optional assignment, more premium in. Then it repeats.

Step 01
Sell a cash-secured put
Pick a strike you would be comfortable owning, set cash aside to cover it, and collect premium upfront while you wait.
Step 02
Manage an assignment
If the put expires in-the-money, you take ownership of the shares at the strike — now you own the stock at a discount to today.
Step 03
Sell a covered call
Sell a call against your shares to collect more premium, capping your upside while you wait for a higher exit price.
Read the Wheel Strategy playbook →

Ready to find your Wheel Strategy stocks?

Start screening stocks, learning the process, and building your confidence — all in one place. No credit card required.

Try the Screener nowSee PricingTry the Screener

Common Questions

Frequently asked questions