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Wheel screener

The wheel screener sweeps every ticker on your watchlist plus every active portfolio symbol (stock holdings and open short options) in a single pass and lists the wheel candidates ranked by your filters. It automatically filters by the slot capacities configured in your filter settings (PUT-L1, PUT-L2, covered calls).

The three strategies

  • PUT-L1 (no shares): Cash-secured puts on names you do not yet own.

Goal: collect premium; if assigned, the shares enter the portfolio.

  • PUT-L2 (with shares): Additional puts on names you already hold. Boosts

premium yield but concentrates position risk.

  • Covered call (CC): Selling covered calls on shares that are not already

locked into an existing CC.

Slot usage (the numbers below the filter row)

The header shows:

  • L1 x/y (free: z): Currently open PUT-L1 positions (x), the configured

limit (y), and free slots (z).

  • L2 x/y (free: z): Same for PUT-L2.

The limits come from Trading settings → Max positions.

Why symbols get skipped

If none of the three strategies can be applied to a symbol, it lands in the Skipped symbols section. Typical reasons:

  • PUT-L1 slot full: No shares owned and the PUT-L1 limit is reached.

→ Close/roll an existing PUT-L1 or raise the limit in trading settings.

  • PUT-L2 slot full: Shares owned but the PUT-L2 limit is reached. When

all shares are also locked into open covered calls, no CC is possible either.

  • No expiries in the DTE range: The symbol currently has no options

inside the configured maturity window.

  • No rankable contracts: All strikes were filtered out by the premium,

delta, ITM or liquidity checks.

Mode „Show candidates that hit a full slot limit"

Turn the checkbox in the filter row on to also see candidates when your PUT-L1 or PUT-L2 slot is already full. This gives you a market overview: „Where would the strongest premium sit today if I closed one of my existing positions?"

Important:

  • Affected rows carry a warning badge ⚠ Slot full (L1/L2) in the flags

column.

  • The Sell button is locked: clicking it opens a warning dialog with the

reason and next steps (close an existing position, or raise the slot limit in trading settings).

  • This is market information, not a recommendation. The app's trading

guardrails stay active so that you cannot accidentally open a position that violates your own rules.

Data sources

  • Option prices, greeks and bid/ask are live from the **IBKR Client Portal

Gateway** while the US market is open (15:30–22:00 CET).

  • Open interest comes from a daily yfinance snapshot because the

client portal API does not deliver that field reliably. Option prices are not affected by this.

  • Outside US market hours a yfinance fallback (15 min delay) kicks in

for entire expiries. When that happens the chain view shows a matching hint.

No investment advice

The wheel screener surfaces algorithmically selected candidates based on public market data and your settings. The ranking is based solely on technical filters you set yourself and public market data — no collection or assessment of personal circumstances or risk appetite, no assessment of an issuer's economic situation, and not investment advice. The display is not investment advice, not a recommendation and not a forecast. Every trading decision remains your own responsibility.