Frequently Asked Questions

The wheel strategy is an options trading technique that involves selling cash-secured puts and covered calls on a stock to generate income and potentially acquire shares at a lower cost basis.

Our website provides tools to track your adjusted cost basis as you implement the wheel strategy, helping you make informed decisions about your trades and maximize your potential returns.

Adjusted cost basis is the original purchase price of an asset, adjusted for factors such as dividends, return of capital distributions, and option premiums received.

When using the wheel strategy, you adjust your cost basis by subtracting the premiums received from selling puts and calls. If you’re assigned shares, your initial cost basis is the strike price minus any premiums received. As you continue to sell covered calls, you further reduce your cost basis by the amount of premiums collected.

Yes, our website is designed to be user-friendly for both beginners and experienced traders.

Absolutely! Our platform allows you to track multiple stocks and create separate accounts/portfolios, giving you a comprehensive view of your wheel strategy implementation across different assets.

We recommend updating your cost basis after each trade or option expiration. Our website makes it easy to input new data and automatically recalculates your adjusted cost basis.

Currently, we do not offer direct integration with brokerage accounts. However, we’re continuously working on improving our services and may offer this feature in the future.

Our calculations are based on standard financial formulas and are designed to be highly accurate. However, always verify the information with your tax professional, as individual situations may vary.

We take data security seriously. All user data is stored securely. We never share your personal information or trading data with third parties.

Currently, our service is only available through a mobile-responsive website.

We offer support through email at stonkapp@gmail.com