CSP → assignment → covered calls → called away. Most trackers see four unrelated trades; a real wheel strategy tracker sees one position — with cost basis, cumulative premium, and true P/L across the whole cycle.
↺ the wheel restarts automatically — cycle #3 opens as a linked CSP when shares are called away.
Every put and call premium lowers your effective share cost automatically — see $10.76, not the $12 your broker shows. Your real breakeven updates on every fill, and you can sort every wheel by true cost so you instantly know which lots are safely in the green and which need a defensive roll before assignment.
Getting assigned links the shares straight into the wheel instead of scattering them across your account. Idle shares with no covered call written against them get flagged so capital never sits dead, and the whole lot — from the first put through the final call-away — stays on one linked timeline.
Compare full wheel cycles by ticker with annualized return on collateral, not just per-trade wins. See which names are actually worth wheeling and which quietly bleed, and stack cycle #1 against cycle #2 on the same ticker to confirm your edge is holding over time.
Part of ThetaStreak — the full options tracker for premium sellers. Compare plans.