Track Your Wheel Strategy Visually
Every short option is a color-coded tile. Green means you're winning, red means it needs attention. Sort by theta burned, DTE, or profit — your entire options book on one screen.
Your options book, at a glance
Stop juggling spreadsheets. ThetaPal pulls your open options from your brokerage and displays them as intuitive, color-coded tiles. Instantly see which positions are profitable and which need your attention.
- •Strike price vs current stock price side-by-side
- •P&L in dollars and percentage
- •Days to expiration and expiry date
- •Entry price vs current option price
- •ITM warnings for positions at risk
Everything you need to manage the wheel
From position monitoring to AI-powered roll recommendations, ThetaPal covers every step of the wheel strategy.
Color-Coded Tiles
Every position is a tile. Green for profit, red for attention needed. Scan your entire portfolio in seconds without clicking into individual positions.
Smart Sorting
Sort by theta burned percentage, days to expiration, total profit, or surface the positions that need your attention first. Find what matters fast.
AI Roll Recommendations
When it's time to roll, see 9 replacement options by expiry and risk tier. AI highlights its top pick with market sentiment analysis and net credit estimates.
AI-powered trade analysis
Click into any position to get a full AI analysis. ThetaPal evaluates market sentiment, models bull and bear scenarios, and gives you a concrete recommendation — including the exact contract, net credit, and risk assessment.
Confirm your instinct before you click trade. Every recommendation considers earnings dates, recent news, and your position's current Greeks.
Best DTE and strike price
ThetaPal shows you 9 replacement options organized by expiry (~2 weeks, ~45 days, ~90 days) and risk tier (Safe, Balanced, Aggressive). AI highlights its top pick and runner-up so you can act fast.
- •3 expiry windows covering short, medium, and long-term
- •3 risk tiers so you pick your comfort level
- •Earnings date warnings to avoid surprise moves
- •Put/call toggle for full wheel cycle coverage
How it works
Connect
Link your brokerage through SnapTrade's secure, read-only integration. Your positions sync automatically.
Visualize
See every short option as a color-coded tile. Sort and filter to find the positions that need action.
Act
Click any tile for AI analysis and 9 replacement options. Know exactly when and how to roll your positions.
Frequently Asked Questions
What is the wheel strategy?
The wheel strategy is an options income strategy that cycles between selling cash-secured puts and covered calls on the same underlying stock. When a put is assigned, you sell covered calls on the shares. When a call is assigned, you go back to selling puts. ThetaPal tracks every phase of this cycle automatically.
How does ThetaPal visualize my options?
Every short option in your portfolio is displayed as a color-coded tile. Green tiles indicate profitable positions, red tiles highlight positions that need attention. Each tile shows strike price vs current stock price, P&L in dollars and percentage, days to expiration, and entry price vs current option price.
How do AI roll recommendations work?
When it's time to roll a position, ThetaPal shows you 9 replacement options organized by expiry (approximately 2 weeks, 45 days, and 90 days) and risk tier (Safe, Balanced, Aggressive). AI highlights its top pick and runner-up based on market conditions, earnings dates, and your position's current state.
What brokerages are supported?
ThetaPal supports 15+ brokerages through SnapTrade's secure integration, including Schwab, Fidelity, Robinhood, E-Trade, Vanguard, Chase, Wells Fargo, Webull, tastytrade, Interactive Brokers, and more. Connections are read-only with bank-level security.