The Wheel Screener Features

The Wheel Screener boasts a solid set of features designed to make the wheel options strategy more manageable and potentially more profitable. It’s all about giving you the tools to make informed decisions without getting lost in a sea of data.

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Comprehensive Options Data Scanning

The core of The Wheel Screener is its ability to scan and screen thousands of options daily. It analyzes over 35,000 contracts every day across 10,000 tickers, which is a massive amount of data to process. This helps you compare and contrast options using a data-driven approach on a market-wide scale. It’s like having a super-fast research assistant that never gets tired.

Proprietary Risk-Reward Scoring

Instead of just giving you raw data, The Wheel Screener goes a step further by providing a proprietary risk-reward score. This score balances profit potential and risk, giving you a clear 0-100 risk-adjusted score to quickly identify the best trades. This means you’re looking at opportunities that are not just profitable but also align with your risk comfort level. The higher the score, the “better” the contract.

Advanced Filtering Capabilities

As mentioned earlier, the filtering options are robust. You can filter by:

• Sector: Helps you narrow down opportunities to specific industries.
• Delta: Measures how much an option’s price moves relative to the stock price. You can set minimum and maximum delta values to fit your strategy.
• Days to Expiration (DTE): Crucial for “The Wheel” strategy, allowing you to focus on options with ideal expiration timeframes.
• Risk: Filters based on the tool’s risk assessment.
• Open Interest: Ensures you’re looking at liquid options with active trading.
• Bid-Ask Spread: Helps you avoid illiquid options where getting a good fill might be difficult.
• Min Yield %: Filters for a minimum desired return on your premium.
• Max Strike Price: Sets a ceiling on the strike price you’re willing to consider.
• Implied Volatility (IV), IV Rank, and IV Percentile: These are key metrics for premium sellers, helping you find contracts with sufficient premium.
• Earnings Data: Get insights into upcoming earnings announcements, which can significantly impact option prices.
• Kelly Sizing: Helps you understand optimal position sizing based on risk.

These filters are designed to exclude “junk data,” so you’re only looking at relevant and liquid options.

The Wheel Strategy Calculator

This is a really handy feature for planning and stress-testing your trades. It lets you simulate cash-secured puts and covered calls using real market data. You can adjust key inputs like strike price, expiration, and volatility to see how different scenarios might play out, helping you plan your trades with confidence. Measuremate Review: Frequently Asked Questions

Dashboard Customization

The dashboard is highly customizable, especially for premium users. You can:

• Rearrange columns: Drag and drop metrics to prioritize what you see.
• Show/hide metrics: Select from a wide variety of metrics to display only what’s relevant to your analysis.
• Highlight metrics: Visually emphasize important data points by changing font size, bolding text, or adding colors. This can be super helpful for quickly spotting critical information.
• Save custom layouts: Your custom layouts are automatically saved, so you don’t have to reconfigure them every time you log in.
• Dark Mode: For those who prefer a less bright interface, dark mode is available.

Export Capabilities

Premium users also have the option to export data to CSV. This is great if you want to do deeper analysis in a spreadsheet or integrate the data with other tools you use.

As a subscriber, you can receive a daily plays newsletter that provides insights into top contracts based on IV rank, IV percentile, and upcoming earnings. This gives you a quick overview of potential opportunities without having to dig through the screener yourself every morning.

Learning Resources

The Wheel Screener also provides helpful resources for users, including a “What is The Wheel?” page to get you up to speed on the strategy, an explanation of how the screener processes data, and even an interactive beginner’s guide. There’s also a glossary of terms related to markets and trading.

Read more about The Wheel Screener Review:
The Wheel Screener Review & First Look
How Does The Wheel Screener Work? Measuremate Customer Support Review