Wheel Position Management

ROLL DECISION CALCULATOR

Enter your current position and the proposed roll target. The calculator tells you whether to roll, close, or take assignment — and why.

The Golden Rule of Rolling

Only roll for a net credit. Rolling for a debit means you are paying to delay a loss — not solving the problem. If you cannot collect at least $0.05 net credit after the roll, close the position and move on.

Exception: Rolling down AND out (lower strike, longer DTE) can be done for small debit if it meaningfully improves your break-even and you still want to own the stock at the lower strike.

Cash-Secured Put/Covered Call

Current Position — CSP

• Ticker
• Current stock price ($)
• Put strike price ($)
• Original premium collected ($)
  • Per share when you opened the trade
• Current option price ($)
  • What it costs to buy back right now
• Days to expiration (DTE)
• Number of contracts

Proposed Roll Target

• New strike price ($)
  • Lower strike = less assignment risk
• New expiration DTE
  • 14–30 days recommended
• New premium available ($)
  • Per share at the new strike + expiry

Do you want to own this stock?

• Yes — willing to own at strike
• Maybe — depends on price
• No — do not want assignment

Earnings within 21 days of new expiry?

• No — clear
• Yes — earnings risk
• Unknown — need to check

▶ Calculate Roll Decision

Decision breakdown

Full scenario comparison

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This calculator is for educational purposes only. Options trading involves substantial risk of loss. Always verify earnings dates at earningswhispers.com before rolling. · OPERATOR Trading · Not financial advice.