If you've been selling covered calls and cash-secured puts to generate weekly income, you know the biggest challenge isn't finding opportunities—it's tracking them accurately. Spreadsheets become unwieldy, formulas break, and before you know it, you've lost track of your true cost basis across multiple assignments and premium collections.
MyAtTheMoneyMachine (MyATMM) was created specifically to solve this problem. It's a purpose-built web application designed for option sellers who run the wheel strategy and need to track their cost basis with precision—without the headache of manual spreadsheet management.
In this comprehensive introduction, we'll walk you through what MyATMM is, who it's for, and how it helps option sellers generate consistent income through a systematic approach we call the continuous wheel strategy.
MyATMM is a cloud-based platform that tracks every aspect of your option selling activities. Whether you're managing one ticker or dozens, the platform automatically calculates and updates your cost basis as you sell covered calls, cash-secured puts, receive dividends, and handle assignments.
The traditional wheel strategy is well-known: sell cash-secured puts until assigned, then sell covered calls until called away. It's a proven income generation method. But MyATMM was built around an enhanced version called the continuous wheel strategy.
The continuous wheel strategy allows you to play both sides of the market simultaneously once you own shares. Here's the complete workflow:
Select a quality underlying you're comfortable owning long-term. Use MyATMM's stock screening tools to analyze candidates based on premiums, volatility, and fundamentals.
Target the next weekly expiration. Selling at-the-money (ATM) provides the highest premium because that's where extrinsic value is maximized.
Two scenarios can occur:
Once you own shares, this is where the strategy becomes powerful:
Now you're collecting premium from both sides. The stock can only move in one direction—up or down—so one side will always profit every week.
One of MyATMM's most valuable features is its ability to show you three different cost basis calculations simultaneously. Understanding these is crucial to effective position management.
This is your pure stock purchase cost basis—the average price you paid for shares through assignments and purchases, without factoring in any option premium collected. This number represents your actual capital deployed into the stock position.
This is your true economic cost basis. It takes your stock purchase cost and subtracts every dollar of premium you've collected on that ticker through covered calls, cash-secured puts, and any other option sales.
This is the number that tells you your real break-even point. If you needed to liquidate the position today, you'd want to sell at or above this price to avoid realizing a loss.
This forward-looking calculation shows what your cost basis would become if your currently active cash-secured puts get assigned. This is incredibly valuable for planning your next covered call strike.
Let's say you're tracking Marvel Technology (MRVL) in MyATMM:
Strategic Insight: If that put gets assigned, you'll own 200 shares instead of 100, and your new overall cost basis drops to $45.50. That means instead of selling covered calls at $46.50, you can now sell them at $45.50—a full dollar closer to at-the-money, which commands higher premiums.
The platform is designed around two primary screens that work together to give you complete visibility into your option selling activities.
Your dashboard provides a high-level snapshot of all your active positions. You can quickly see total premium collected, number of active tickers, shares owned, and overall portfolio performance.
This is where the real power of MyATMM shines. For each ticker you're tracking, you can:
When you add a new position, MyATMM creates a "draft" entry. This lets you see how the position will affect your cost basis before you commit the transaction. Once you're satisfied with the numbers, you save the position and it's recorded in your transaction history and updates all calculations.
The name "MyAtTheMoneyMachine" isn't arbitrary—it reflects a core principle of successful option selling: at-the-money options generate the highest premiums.
When you sell an option, you're collecting both intrinsic and extrinsic value. At-the-money strikes have the maximum extrinsic (time) value because there's the highest probability the option will move in or out of the money by expiration.
As you move away from at-the-money strikes—either deeper in-the-money or further out-of-the-money—the extrinsic value decreases. This means less premium collected per contract.
This is why the dollar-cost-averaging aspect of the continuous wheel is so powerful. Every time you get assigned on a cash-secured put, your cost basis adjusts closer to the current market price. This allows you to consistently sell covered calls closer to at-the-money, maximizing your weekly premium collection.
Over months and years of running this strategy, your cost basis can drop so low that you're always selling calls at-the-money relative to current prices, generating maximum income week after week.
The platform is designed to be intuitive from day one. Here's how to begin tracking your option selling activities:
Head to app.myatmm.com/createaccount and sign up. The free tier lets you track up to 3 tickers forever—perfect for testing the platform or if you focus on just a few quality stocks.
Navigate to the Cost Basis screen and add a ticker symbol you're currently trading or want to start tracking. You can enter historical transactions if you're already running the wheel, or start fresh.
Whether you sold a cash-secured put, covered call, or purchased shares, use the transaction helper functions to log the details. MyATMM will immediately calculate your cost basis.
As you continue selling options weekly, log each transaction. Watch your premium collected increase and your cost basis adjust with each assignment. The platform becomes more valuable the longer you use it.
Explore the stock screening tools, dividend tracking, and portfolio performance metrics to enhance your strategy.
MyATMM is purpose-built for a specific type of trader. If you recognize yourself in any of these descriptions, this platform was designed with you in mind:
If you've ever wondered "What's my real cost basis after all these assignments?" or "How much total premium have I collected on this stock?"—MyATMM answers those questions instantly.
One of the most satisfying milestones in running the continuous wheel strategy is watching your cost basis approach zero. This happens when the total premium you've collected equals or exceeds the capital you've deployed into purchasing shares.
At that point, you're effectively holding the stock for free. Every additional week of premium collection is pure profit. If the stock gets called away, you realize gains on shares you acquired at no net cost.
MyATMM makes this journey visible. You can track your progress toward zero cost basis with every transaction, and the platform shows you exactly how much more premium you need to collect to reach that goal.
MyATMM is priced for serious option sellers who recognize the value of accurate tracking:
Compare this to the cost of even one spreadsheet error causing you to miscalculate your cost basis and make a poor trading decision. The platform pays for itself many times over through accurate tracking and better decision-making.
Join option sellers who've said goodbye to spreadsheets and hello to accurate, automated cost basis tracking.
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