Platform Overview
OptionsWheelTrader is a niche tool built exclusively for traders running the wheel strategy. It focuses on tracking cash-secured puts and covered calls through their lifecycle, recording premium collected, and calculating basic return metrics. Its simplicity is both its strength and its limitation.
AllInvestView is a comprehensive portfolio tracking platform that supports stocks, bonds, options, crypto, real estate, and custom assets. Its wheel strategy module provides a full lifecycle stepper (CSP → assignment → CC → called away), premium income charts, candidate detection, and cost basis adjustment—all integrated with broader portfolio analytics, Greeks tracking, and tax reporting.
OptionsWheelTrader
Dedicated wheel strategy tracker with simple premium logging and basic return calculations. Focused exclusively on the CSP/CC cycle.
AllInvestView
Our PickFull portfolio tracker with integrated wheel lifecycle stepper, Greeks dashboard, premium income analytics, broker sync, and tax reporting across all asset classes.
Wheel Strategy Tracking
The core question for wheel traders: how well does each platform track the full wheel lifecycle?
OptionsWheelTrader
OptionsWheelTrader provides a straightforward interface for logging wheel trades. You can record your cash-secured puts and covered calls, track the premium collected, and see basic metrics like total income and win rate. It is designed for traders who want a simple ledger-style record of their wheel trades without extra complexity.
However, the platform lacks advanced features like automatic cost basis adjustment when puts are assigned, Greeks tracking, or integration with the rest of your portfolio. There is no broker synchronization, so every trade must be entered manually.
AllInvestView
AllInvestView provides a dedicated wheel strategy tab with a visual lifecycle stepper that tracks each cycle through its phases: CSP open, CSP expired or assigned, covered call open, covered call expired or called away, and cycle closed. When a put is assigned, the system automatically creates the stock position and adjusts the cost basis by the premium received.
Additional wheel-specific features include:
- Candidate detection — identifies stocks in your portfolio suitable for starting new wheel cycles
- Premium income charts — monthly and cumulative premium tracking with annualized ROC calculations
- Roll chain tracking — full history of rolls with net credit/debit for each position
- Cost basis adjustment — automatically reduces cost basis by premiums collected throughout the wheel cycle
- Expiration alerts — notifications when options are approaching expiration
Key difference: AllInvestView treats the wheel as a lifecycle with interconnected phases, while OptionsWheelTrader treats each trade as an independent log entry. This means AllInvestView can calculate true cost basis and total return per cycle including all premiums and the stock P&L.
Beyond the Wheel
If the wheel strategy is your only trading approach, a dedicated tool might seem sufficient. But most wheel traders also hold stocks, ETFs, and other positions. This is where the platforms diverge significantly.
OptionsWheelTrader tracks only wheel-related options trades. Your stock portfolio, bonds, dividends, and other positions must be tracked elsewhere. AllInvestView consolidates everything into one platform—your wheel cycles, stock holdings, bond portfolios, dividends, and even real estate—giving you a complete view of your investment performance with unified tax reporting.
Feature Comparison
| Feature | OptionsWheelTrader | AllInvestView |
|---|---|---|
| Wheel lifecycle stepper | ||
| Premium income tracking | ||
| Cost basis adjustment | ||
| Greeks dashboard | ||
| Multi-leg strategies | ||
| Roll chain tracking | ||
| Break-even analysis | ||
| Scenario analysis | ||
| Payoff diagrams | ||
| Multi-asset tracking | ||
| Broker auto-sync | ||
| Tax reports |
Pricing Comparison
OptionsWheelTrader pricing:
| Plan | Price | Key Features |
|---|---|---|
| Free | $0 | Limited trades, basic logging |
| Premium | ~$10/month | Unlimited trades, full premium tracking |
AllInvestView pricing:
| Plan | Price | Key Features |
|---|---|---|
| Free | $0 | Full tracking, limited holdings count |
| Pro | $5.99/month | Unlimited holdings, wheel lifecycle, tax reports, broker sync, AI import |
| Lifetime | One-time payment | All Pro features forever, no recurring fees |
AllInvestView is more affordable at $5.99/month compared to ~$10/month for OptionsWheelTrader, while offering significantly more functionality. The lifetime pricing option eliminates recurring costs entirely.
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Which Should You Choose?
Choose OptionsWheelTrader if:
- You only run the wheel strategy and nothing else
- You prefer the simplest possible trade logging
- You do not need Greeks, roll tracking, or tax reports
- You track your other investments in a separate platform
Choose AllInvestView if:
- You want a full wheel lifecycle stepper with cost basis adjustments
- You also trade other options strategies or hold stocks and bonds
- You need Greeks tracking, roll chains, and premium analytics
- You want broker auto-sync to avoid manual trade entry
- You need tax reports for your options trading activity
Bottom line: OptionsWheelTrader is a simple, focused tool for logging wheel trades. AllInvestView provides a more comprehensive wheel tracking experience with lifecycle management, cost basis adjustments, and full portfolio integration—at a lower price point. If you trade the wheel as part of a broader portfolio, AllInvestView is the clear choice.
Common Questions
Does OptionsWheelTrader track other strategies besides the wheel?
OptionsWheelTrader is purpose-built for the wheel strategy and does not provide comprehensive tracking for other options strategies like iron condors, straddles, or vertical spreads. AllInvestView supports all options strategies with Greeks tracking, roll chain history, and strategy auto-detection alongside its dedicated wheel lifecycle stepper.
How does AllInvestView handle wheel assignment?
AllInvestView provides a full wheel lifecycle stepper that tracks each phase: CSP open, CSP expired or assigned, covered call open, covered call expired or called away, and cycle closed. When a cash-secured put is assigned, AllInvestView automatically links the resulting stock position and adjusts your cost basis by the premium received, then prompts you to sell a covered call to continue the cycle.
Can I track premium income over time?
Both platforms track premium income, but AllInvestView provides more detailed analytics including monthly and cumulative premium income charts, annualized return on capital, per-cycle P&L breakdowns, and integration with your broader portfolio performance metrics. You can view premium income across all wheel cycles or drill into individual underlying positions.
Which tool supports broker auto-sync?
AllInvestView supports automatic broker synchronization through SnapTrade, connecting to major brokerages to import your options trades automatically. OptionsWheelTrader requires manual trade entry. AllInvestView also offers AI-powered CSV import that can parse exports from virtually any broker format.