A Simple Options Wheel Planner
for Beginner Traders
Enter one ticker and see one clear example plan: covered call, cash-secured put, or both — with the capital required, strike, expiration, and breakeven.
Educational tool, not financial advice.
What you get
The important numbers, explained plainly
YieldTerminal is designed to answer the questions a novice trader usually has before opening an options trade.
Beginner Questions
What does the Trade Plan do?+
Enter a ticker and choose a covered call, cash-secured put, or both. YieldTerminal turns the market data into a plain-English plan with the capital required, strike, expiration, breakeven, and a simple exit guide.
Do I need to understand an options chain?+
No. YieldTerminal is designed for people who want the important numbers without decoding a large options chain. Advanced traders can still review the details before placing a trade through their own broker.
What is the wheel strategy?+
The wheel commonly starts with a cash-secured put. If shares are assigned, the next step is often a covered call. The cycle may repeat, but each trade still carries stock and options risk.
Does YieldTerminal place trades?+
No. YieldTerminal does not connect to a brokerage account, hold funds, or execute orders. It is an educational planning tool that helps you understand a possible trade before using your broker.
Is the Trade Plan free?+
The core Trade Plan is free to try. Saving trades and the weekly Income Flow view require Pro. The beginner calculators stay free with no signup.