Wheel Page Guide - BigDipperOptions Docs

The Wheel page is where you compare cash-secured put (CSP) candidates on BigDipperOptions. It does not place trades—you narrow to one (or zero) ideas, then confirm live underlying and option premium at your broker. Use this guide alongside the Learn wheel track: screening rules in Module 2, reject drill and checklist in Module 3, lifecycle in Module 4.

Prices on charts are 15-minute delayed and fetched regularly. Confirm live underlying and option prices at your broker before trading. See Delayed Data Disclaimer.

What this page is for

Question the page helps answer	Where on the page
“Among names I’d own, which puts offer the best return for the assignment risk I accept?”	ROC vs assignment risk scatter
“What are the exact strikes, credits, and capital for my shortlist?”	All CSP candidates table
“After assignment, where might I sell covered calls with structure context?”	All Covered calls table

The page is built for comparison and rejection—not for picking the highest ROC dot and trading it blindly. Your Module 2 ownability and liquidity rules still gate every decision.

Open the page

Log in at bigdipperoptions.com.
From the top menu, open Charts → Wheel — Cash-Secured Puts (wording may vary slightly in the app).
You land on the page title Wheel — Cash-Secured Puts.

For login and the Options Chain Report, see Using BigDipperOptions and Navigation tips.

Full page overview

Full Wheel page showing scatter chart, CSP candidates table, and Covered Calls table

Block	Purpose	Typical usage in a wheel session
Select symbols… (header)	Limit which tickers appear on the page	Pick your Module 2 watchlist before touching chart filters
Scatter Filter (funnel on chart)	Narrow which contracts show as dots and table rows	Set DTE, cash, ROC, assignment risk, premium, score bands
Scatter view toggles	Change how you read the chart (not what data exists)	Ann./Period ROC, Frontier layers, risk zones, labels
ROC vs assignment risk	See efficiency trade-offs across many candidates at once	Reject dominated dots; pick 2–3 frontier finalists to drill into
All CSP candidates	Verify numbers (credit, cash, delta, spread, OI) for finalists	Sort, pin columns, compare side by side before broker quote check
All Covered calls	Plan Phase B after you hold shares	Use after assignment or when pre-planning “if I get assigned here…”

Suggested order: Select symbols → scatter Filter → frontier view → hover tooltips → click side panel (reject symbols) → CSP table → broker.

Purpose

Orient you on which wheel phase you are in (CSP / Phase A), how fresh the data is, and which symbols are in scope.

Potential usage

Element	Use it when…
Wheel — Cash-Secured Puts	You are researching new short puts—not managing an existing covered call (see Covered calls table for Phase B).
Updated timestamp	You need to know if delayed data is stale before comparing to a live broker quote. Re-check after long breaks.
Select symbols…	You have a watchlist from Module 2 (e.g. 5–15 ownable names) and want the page focused on those—not the full market.
View symbols details	You want quick context on selected tickers before opening the chain report.
Clear filters	You changed policy mid-session and need to reset scatter Filter conditions

Filtering the Wheel page

Open Filter on the scatter chart (funnel icon). Conditions apply to both dots and the CSP table. Scope tickers first in Select symbols…, then stack chart filters.

Wheel scatter chart Filter menu showing Symbol, DTE, Cash, Assignment risk, Period ROC, Annualized ROC, Premium, and Score

Each example below is a filter stack you can type into the menu. Search inside Filter jumps to a field when you add several at once. Start here: Conservative income (full stack) — then adjust one field at a time.

Scope the universe (header)

You already passed Module 2 ownability—don’t let a high-ROC dot on a bad name tempt you.

Select symbols…  →  AAPL, MSFT, KO, PEP, JNJ

Result: Scatter and table only show your watchlist. Everything else is out of scope before you touch Filter.

Weekly wheel — only short-dated puts

You want to manage every Friday, not babysit a 45 DTE line for a month.

DTE  →  7 – 14

Result: Dots cluster for near-term expiries; long-dated “set and forget” ideas disappear.

Cap collateral per contract

Your rule: no single CSP above $8,500 cash at risk (e.g. ~10% of an $85k wheel sleeve).

Cash  →  ≤ 8,500

Result: High-strike / high-notional names drop out even if ROC looks attractive.

Stay left on assignment risk

You prefer premium income, not surprise share delivery.

Assignment risk  →  ≤ 22%

Turn on Risk zones on the chart. Dots should sit in the green band; orange/pink zones are for names you want to own at strike.

Floor return for this expiry (Period ROC)

You won’t sell a 21 DTE put for less than 1% on cash for the cycle.

Period ROC  →  ≥ 1.0%

Set the chart Y-axis to Period ROC so the visual matches the filter.

Compare different DTEs (Annualized ROC)

You’re mixing 10 DTE and 35 DTE dots and need a common yardstick.

Annualized ROC  →  ≥ 20%

Set the chart Y-axis to Ann. ROC. A 0.8% week can beat a 1.2% month on an annualized basis—or not; the filter surfaces that.

Skip credits eaten by spread and fees

$45 premium on a wide name isn’t worth the ticket.

Premium  →  ≥ 180

Result: Small-dollar dots vanish; what remains is worth opening the broker quote.

Tie-break among frontier dots (Score)

Two L1 frontier puts look similar on ROC and risk.

Score  →  < 2

Use Frontier + Label frontier first, then add Score. Score is a decimal—see What is Score? for scale, bands, and heatmap examples. Then confirm live IV and quotes at your broker before you trade.

Head-to-head: two finalists

You’ve scanned the cloud; only AAPL and MSFT remain ownable.

Symbol            →  AAPL, MSFT
DTE               →  28 – 35
Assignment risk   →  ≤ 28%
Period ROC        →  ≥ 0.9%

Result: A tight compare set—pick one row in the CSP table, reject the other.

Conservative income (full stack)

Typical “monthly wheel, don’t get assigned casually” session:

Select symbols…   →  (your Module 2 list)
DTE               →  21 – 45
Cash              →  ≤ your per-ticker cap
Assignment risk   →  ≤ 25%
Period ROC        →  ≥ 1.0%
Premium           →  ≥ 150

Then: Frontier → Label frontier → CSP table → sort Spread %, OI, Delta → broker.

Zero dots after filtering is a valid outcome. Widen Module 2 or wait—don’t loosen Assignment risk or Cash just to force a trade.

Chart toggles (not filters)

These change how you read the same filtered data:

Toggle	Pair with
Ann. ROC / Period ROC	Matching ROC filter above
Frontier / Dominated	Shortlist before opening the table
Risk zones	Assignment risk filter
Label frontier	Final 2–3 symbols

The CSP table Filter button narrows rows after you pick a dot—use it when the side panel helped you reject a symbol but you still want to compare other strikes in the table.

ROC vs assignment risk (scatter)

Purpose

Give a bird’s-eye view of the premium-efficiency vs assignment-risk trade-off across every CSP that passed your filters. The scatter is for elimination and shortlisting, not for precise order entry. Core wheel tension it visualizes: more premium (higher ROC) often comes with more assignment risk—i.e. a higher chance you end up owning shares at that strike.

Period ROC vs annualized ROC

On the Wheel page, ROC measures premium income vs cash secured for a single cash-secured put (Phase A)—not your full wheel P&L after assignment, covered calls, or stock moves.

Metric	What it answers	Formula (conceptual)
Period ROC	“What return do I earn if I hold this put to expiry and keep the full credit?”	Premium ÷ cash required for this contract
Annualized ROC	“How does that compare across different DTEs on one scale?”	Period ROC scaled to a 365-day year (÷ DTE, × 365)

Cash required is the collateral for one CSP—typically strike × 100 (shown as Cash / cash required in the tooltip and table). Premium is the credit for selling that put (delayed on charts—confirm live at your broker). Worked example (from the scatter tooltip on a 3 DTE MDB put):

Premium        $1,817.50
Cash required  $40,000        (strike $400 × 100)
DTE            3

Period ROC     ≈ 1,817.50 ÷ 40,000  ≈  4.5%   ← return for this 3-day cycle
Annualized ROC ≈ 4.5% × (365 ÷ 3)    ≈  553%  ← same trade, annualized for comparison

The annualized number looks dramatic on very short DTE—that is math, not a promise you can repeat that rate all year. Use period ROC when your policy is tied to this expiry; use annualized ROC when you are mixing weeklies and monthlies on the same scatter.

What ROC does not include: early buybacks, partial fills, commissions, slippage, assignment, stock P&L, or covered-call income. It is a screening metric for comparing CSP credits on equal collateral—not a forecast of account growth. Match the chart toggle (Ann. ROC / Period ROC) and scatter Filter to the metric you are actually thresholding.

Habit: filter and sort on period ROC for “minimum credit this cycle”; use annualized ROC only when DTE varies and you need a common ruler—then still verify period ROC and premium in the tooltip before you trade.

Potential usage

Goal	How to use the scatter
Reject obvious losers	Switch to Dominated or hide pink dots—if another candidate is strictly better on ROC and risk, drop it.
Find efficient ideas	Show Frontier / Pareto L1—compare only dots on the efficient edge of the cloud.
Match assignment appetite	Use risk zones and the horizontal axis—stay left if you want fewer assignments; accept right only on names you want to own.
Compare tenors	Toggle Ann. ROC vs Period ROC—annualized helps compare different DTEs; period ROC reflects this cycle’s credit.
Spot outliers	Label frontier, hover for tooltip, click a dot to open the chain report side panel for that symbol
Stress-test greed	A dot far up (high ROC) and far right (high assignment risk) on a “famous” name is a common Module 2 fail—reject even if it looks green.

Chart controls

Control	Purpose
Ann. ROC / Period ROC	Annualized vs this-period return on capital
All / Dominated / Frontier	Full cloud vs easy rejects vs efficient set
1–5	Pareto frontier layers (L1 = primary efficient frontier)
Risk zones	Shade assignment-risk bands
Label frontier	Ticker labels on frontier dots
Filter (funnel)	Filter recipes with embedded stacks — Filtering the Wheel page

How to read each dot

One dot = one CSP (symbol + strike + expiry) after your filters. Position on the chart is the trade-off; interaction is how you drill in.

Hover dot   →  tooltip — contract stats without leaving the scatter
Click dot   →  side panel · Options Chain Report for that symbol
               Deep-analyze ownability — reject the symbol if it fails Module 2

On the chart	Read it as
Higher on the chart	More ROC (premium efficiency vs cash secured)
Further right	More assignment risk — more Phase B (shares)
Pink (dominated)	Strictly worse than another dot → reject
Green frontier (L1 / L2)	Efficient trade-offs → shortlist 2–3, then hover / click

Hover → click (interaction)

Animated Wheel scatter interaction: first hover on an MDB dot shows a contract tooltip with strike, premium, cash, and ROC; then click opens the Options Chain Report side panel with stock price, VRT regime, and earnings context

Loops between hover (tooltip) and click (side panel) on the same MDB dot. Hover — tooltip: Quick reject-or-continue before you leave the scatter. Check assign. risk, cash required, and period ROC vs the headline ann. ROC—match your filter and chart toggle.

Tooltip field	Use it to…
Strike / underlying to strike	Confirm OTM distance matches your policy
Premium / cash required	Size the trade vs your cap before clicking
Assign. risk / period & ann. ROC	Match scatter position to the numbers
Put-wall buffer / score	First structure read—full context after click

Click — side panel: Opens the Options Chain Report for that symbol. Scroll for price, VRT regime, GEX, walls, and bias—then reject the symbol if you would not own it. Here, Earnings: Today is a Module 2 fail for many wheel policies even with strong ROC on the dot. Typical pass on a frontier dot:

Hover — tooltip confirms strike, cash, assignment risk, and ROC fit your filters.
Click — side panel for ownability (events, regime, structure). Reject the symbol if anything fails Module 2.
Next dot — repeat until 1–2 symbols survive.
CSP table — verify spread, OI, delta, and live broker quote for the specific strike.

The side panel is a reject tool: a dot can look great on ROC but fail on earnings, regime, or walls. Only open the CSP table for symbols you would hold through a drawdown.

Deeper framing: Module 3 — Execution.

All CSP candidates (table)

Purpose

Turn scatter finalists into actionable numbers for symbols that survived the side-panel reject pass: exact strike, credit, capital at risk, liquidity, and structure columns for the puts you might actually sell. Use the scatter to shortlist; use the side panel to reject symbols; use the table to verify you can trade what remains.

Potential usage

Scenario	What to do in the table
Compare 2–3 frontier dots	Filter or sort to those symbols; pin Strike, Premium, Assignment risk, Spread %, Cash
Size the trade	Read Cash × contracts vs your per-ticker cap (Module 2)
Liquidity check	Sort by Spread % and OI—reject wide spreads even if ROC looks good
Assignment policy	Sort by Assignment risk or Delta—confirm it matches how often you want shares
Structure at the put strike	Glance Put wall strike / Max γ put—if far from your comfort zone, open Navigation tips for that symbol
Tie-break frontier peers	Compare Score on BigDipperOptions—then confirm IV / IV Rank live at broker
Pre-broker sanity check	Shortlist complete here—confirm live premium, IV, and quotes at broker

Column reference

Column	Purpose	Wheel usage
Symbol / Expiry / DTE	Identity and holding period	Match your DTE policy; avoid earnings inside window
Underlying / Strike	Spot vs where you might own	Strike must be a price you accept in a drawdown
Cash	Collateral if assigned	Fits account and Module 2 size cap
Premium / Mid price	Credit (delayed)—verify live	Compare to broker bid; reject if slippage kills edge
Annualized ROC / Period ROC	Efficiency metrics	Align with scatter view; period ROC for this cycle
ROC ÷ risk	Combined efficiency score	Secondary sort among finalists
Assignment risk	Platform assignment estimate	Higher → plan for Phase B sooner
Delta	Rough ITM / assignment proxy	Cross-check against your delta band
Spread %	Liquidity	Must be acceptable vs credit collected
Score	Composite engagement (IV, OI, gamma, …)	Screen here—confirm live IV at broker before order
OI	Open interest	Minimum bar for entry/exit
Max γ put / Put wall strike	Downside structure labels	Optional deep dive via chain report

Table habits: scroll horizontally · pin columns · sort by header · paginate. Sort by ROC or assignment risk only after ownability and liquidity pass.

All Covered Calls (Phase B)

All Covered Calls table with call wall, put wall, distances, and walls fit columns

Purpose

Support Phase B of the wheel: you hold 100 shares per contract and need a covered-call strike that matches your willingness to sell, premium goals, and market structure. This block is a planning and comparison view—not a substitute for Module 4 management rules (50–70% profit take, rolls, called-away mindset).

Potential usage

Scenario	How to use this table
Just assigned on a put	Find your symbol; compare call wall distance vs strikes you would sell
Pre-planning before selling a put	“If assigned near $X, where would I sell calls?”—sanity-check Phase B before Phase A
Choosing CC strike	Balance call wall distance (room to run) vs premium—you cap upside on purpose
Avoiding bad CC strikes	Walls fit and wall distances flag structural mismatch—still verify on chain report
Rotation after call-away	After shares are called away, return to CSP scatter/table for the next put cycle

Column reference

Column	Purpose	Wheel usage
Current price	Spot vs walls	Anchor for strike selection
Call wall / Put wall	Concentration levels	CC often discussed relative to call wall; put wall for context
Wall distances	% from spot to each wall	See how much room before structural levels
Wall volumes	Activity at walls	Heavier levels = more discussed, not guaranteed
Max γ / distances	Gamma hotspots	Manage DTE and strike with chop in mind
Walls fit	Platform alignment flag	One input—combine with your sell discipline

Full lifecycle: Module 4 — Lifecycle · Lifecycle decision map.

Putting the three blocks together

Module 2 policy (ownability, DTE, delta, size)
        ↓
Select symbols (header)  →  watchlist scope
        ↓
Scatter Filter  →  DTE · Cash · Assignment risk · ROC · Premium · Score
        ↓
Scatter view  →  Frontier · hover tooltip · click → side panel (reject symbols)
        ↓
CSP table     →  verify credit, cash, spread, OI, assignment risk
        ↓
Module 3 checklist  →  reject until ≤1 remains
        ↓
Broker        →  live underlying + option premium → order
        ↓
(If assigned) Covered calls table  →  Phase B strike planning
        ↓
Module 4 journal + management rules

Suggested workflow (with Module 3)

Module 2 — reject tickers you would not own; note DTE, delta, and size caps.
Select symbols — set header watchlist.
Scatter Filter — copy a stack from Filtering the Wheel page or build your own.
Scatter view — frontier + risk zones; hover dots, click finalists to deep-analyze and reject symbols in the side panel.
CSP table — verify spread, OI, delta for symbols that passed; use table Filter if needed.
Options Chain Report (optional) — full-page deep dive via Navigation tips when you need more room than the side panel.
Pre-trade checklist — Module 3.
Reject until at most one remains.
Broker — confirm live underlying, strike, and option premium.
Journal — Module 4.

Doc	Purpose
Navigation tips	Options Chain Report UI
Key metrics explained	Walls, max gamma, score labels
Wheel Learning Series	Full wheel curriculum hub
Module 2 — Candidates	Screening before the Wheel page
Module 3 — Execution	Reject drill and checklist
Module 4 — Lifecycle	After entry; covered calls phase

​What this page is for

​Open the page

​Full page overview

​Page header

​Purpose

​Potential usage

​Filtering the Wheel page

​Scope the universe (header)

​Weekly wheel — only short-dated puts

​Cap collateral per contract

​Stay left on assignment risk

​Floor return for this expiry (Period ROC)

​Compare different DTEs (Annualized ROC)

​Skip credits eaten by spread and fees

​Tie-break among frontier dots (Score)

​Head-to-head: two finalists

​Conservative income (full stack)

​Chart toggles (not filters)

​ROC vs assignment risk (scatter)

​Purpose

​Period ROC vs annualized ROC

​Potential usage

​Chart controls

​How to read each dot

​Hover → click (interaction)

​All CSP candidates (table)

​Purpose

​Potential usage

​Column reference

​All Covered Calls (Phase B)

​Purpose

​Potential usage

​Column reference

​Putting the three blocks together

​Suggested workflow (with Module 3)

​Related docs

What this page is for

Open the page

Full page overview

Page header

Purpose

Potential usage

Filtering the Wheel page

Scope the universe (header)

Weekly wheel — only short-dated puts

Cap collateral per contract

Stay left on assignment risk

Floor return for this expiry (Period ROC)

Compare different DTEs (Annualized ROC)

Skip credits eaten by spread and fees

Tie-break among frontier dots (Score)

Head-to-head: two finalists

Conservative income (full stack)

Chart toggles (not filters)

ROC vs assignment risk (scatter)

Purpose

Period ROC vs annualized ROC

Potential usage

Chart controls

How to read each dot

Hover → click (interaction)

All CSP candidates (table)

Purpose

Potential usage

Column reference

All Covered Calls (Phase B)

Purpose

Potential usage

Column reference

Putting the three blocks together

Suggested workflow (with Module 3)

Related docs