This is Part 4 — the finale — of our SoFi wheel strategy series. Over the past three installments, we walked through every phase of the wheel from start to finish: selling a cash-secured put in Part 1, getting assigned and tracking cost basis in Part 2, and then selling both a covered call and a second cash-secured put simultaneously in Part 3.
Now it is time to see what happened at expiration. Did the covered call get assigned? Did the cash-secured put expire worthless? What was the total premium collected across the entire wheel cycle? And most importantly, how do you track all of this cleanly inside MyATMM so your records are airtight?
The short answer: the wheel worked exactly as designed. The cash-secured put expired out of the money, the covered call expired in the money and our shares were called away, and we walked away with $107 in total premium and zero capital gains or losses on the underlying stock. That is as clean as a wheel cycle gets.
Heading into expiration on June 20th, we had two open positions on SoFi ($SOFI):
Both positions expired on the same weekly cycle. The question at expiration always comes down to one thing: where did the stock close relative to those strike prices?
SoFi opened the session at $15.57, reached a high of $15.64, and closed at $15.20. That closing price is the number that determines the outcome for both positions.
The cash-secured put had a strike price of $14.00. For the put to be assigned, SoFi would have needed to close below $14.00 at expiration. With the stock closing at $15.20 — well above the $14.00 strike — the put expired worthless. That is exactly what you want when you sell a cash-secured put: the stock stays above your strike, the option expires, and you keep the full premium with no obligation.
Strike Price: $14.00
Stock Close: $15.20
Distance from Strike: $1.20 above (well out of the money)
Result: Expired worthless — premium retained in full ($23)
Obligation: None — no shares purchased, collateral released
When a cash-secured put expires out of the money, your collateral is released back into your account. The $1,400 that was tied up as collateral for this put is now free to deploy on the next trade. The $23 in premium is yours to keep regardless.
The covered call had a strike price of $14.50. For the call to expire in the money, SoFi needed to close above $14.50 at expiration. With the stock closing at $15.20 — $0.70 above the strike — the covered call was firmly in the money. That means the option was exercised, and our 100 shares of SoFi were called away (sold) at the $14.50 strike price.
Strike Price: $14.50
Stock Close: $15.20
Distance from Strike: $0.70 in the money
Result: Assigned — 100 shares sold at $14.50
Premium Retained: $34 (premium is always kept)
Here is the key detail: we originally acquired those 100 shares at $14.50 per share (through put assignment in Part 2), and we sold them at $14.50 per share (through call assignment in Part 4). That means the capital gain on the stock itself is exactly zero. No gain, no loss on the shares. All of our profit came from option premium collected along the way.
With the expiration results confirmed, the next step is recording everything inside MyATMM. Accurate record-keeping is critical for the wheel strategy because you are juggling multiple transaction types — puts sold, puts assigned, stock purchases, covered calls sold, covered calls assigned, stock sales — and each one impacts your overall profit and loss. Let us walk through each action.
Since the cash-secured put expired worthless, there is nothing to "close" in the traditional sense. The option simply ceased to exist. In MyATMM, you handle this by deleting the option position from the cost basis page. Navigate to the cost basis page, select the SoFi ticker, and remove the cash-secured put from your active positions. That is all it takes — the premium you collected was already recorded when you originally sold the put, so there is no additional transaction to log.
The covered call assignment requires a few more steps because shares are changing hands. In MyATMM, select "Assigned" from the action dropdown on the covered call position. This brings up the assignment details form where you enter:
When you click Submit, MyATMM creates a proposed transaction record for the stock sale. This proposed record captures the $1,450 credit from selling 100 shares at $14.50 each.
One detail that many traders overlook: your broker may charge a small fee when shares are sold through option assignment. Schwab, for example, typically charges around $0.02 for stock assignment transactions. While two cents is not going to make or break your trading career, tracking it accurately matters when you are reconciling your records. In MyATMM, you can add this fee to the proposed transaction before finalizing it.
After submitting the assignment transaction, MyATMM adds the proposed record to your transaction history. However, the stock position still appears in your active positions because MyATMM does not automatically remove stock positions on assignment — this is by design, giving you control over when positions are cleared. Manually remove the stock position and the assigned covered call from your active positions to reflect that you are now completely flat on SoFi.
With everything recorded, the SoFi wheel cycle produced exactly five transactions in MyATMM. Each one represents a distinct phase of the wheel, and together they tell the complete story of this position from entry to exit.
| # | Transaction | Type | Amount |
|---|---|---|---|
| 1 | Sold cash-secured put ($14.50 strike) | Credit | +$51.00 |
| 2 | Put assigned — bought 100 shares at $14.50 | Debit | -$1,450.00 |
| 3 | Sold covered call ($14.50 strike) | Credit | +$33.49 |
| 4 | Sold cash-secured put ($14.00 strike) | Credit | +$22.49 |
| 5 | Call assigned — sold 100 shares at $14.50 | Credit | +$1,449.98 |
Notice that transaction #5 shows $1,449.98 instead of an even $1,450.00. That two-cent difference is the assignment fee charged by the broker. It is a trivial amount, but tracking it ensures your records reconcile perfectly with your brokerage statement.
This is the fundamental appeal of the wheel strategy. You do not need the stock to move dramatically in your favor to generate returns. By systematically selling options and collecting premium at each phase of the cycle, you accumulate income regardless of whether the stock goes up, goes down, or moves sideways.
With the SoFi wheel cycle closed out, the MyATMM dashboard provides a clean, high-level summary of your account. Let us walk through what each number tells you after completing this wheel cycle.
The summary tab on the dashboard rolls up all of your positions and cash into a single view. After closing out the SoFi position, here is what the demo account shows:
Total Deposits: $100,000.00 (initial demo account funding)
Brokerage Value: $100,107.00
Total Premium Collected: $107.00
Shares Owned: 0
Open Cash-Secured Puts: 0
Unrealized Gain/Loss: $0.00
Total Capital Available: $100,107.00
The brokerage value now reflects the original $100,000 deposit plus the $107 in premium earned from the wheel cycle. Since we have zero open positions — no shares, no open puts, no open calls — the entire account balance is available for new trades. The unrealized gain/loss is zero because there are no active positions generating unrealized exposure.
One powerful feature of the MyATMM dashboard is the ability to see what percentage of your total account each position consumes. When you are running the wheel on multiple tickers simultaneously, this becomes critically important for risk management.
During the SoFi wheel cycle, the position required approximately $2,850 in total collateral — $1,450 for the stock purchase and $1,400 for the cash-secured put. Against a $100,000 account, that represents roughly 2.85% of total capital. This is well within conservative allocation guidelines that many traders follow, such as keeping each position at 10% or less of total account value.
The allocation view becomes increasingly valuable as you scale. Running the wheel on one ticker is educational. Running it on five, ten, or twenty tickers simultaneously is where real portfolio income starts to build — and that is exactly where tracking tools like MyATMM become indispensable.
The performance tab in MyATMM provides time-segmented reporting so you can see how your account performed month by month and year by year. After the SoFi wheel cycle, here is what the performance data reveals.
Since all transactions in this series were kept within June 2025, the performance tab shows the complete wheel cycle contained within a single month. The realized gain/loss from the stock itself is effectively zero (minus the $0.02 assignment fee), and the $107 in premium is captured as option income.
You might notice that the performance percentage displayed seems lower than expected. This is because MyATMM uses a time-weighted return calculation rather than a simple percentage. Instead of calculating $107 / $100,000 = 0.107%, the system accounts for the timing and size of deposits throughout the period.
This approach is actually an advantage for accurate performance measurement. Consider this scenario: if you made $10,000 in premium during a month but also added $50,000 in new deposits halfway through that month, a simple percentage would overstate your return by calculating against only your starting balance. The time-weighted method averages the capital base to produce a more honest representation of your actual return on invested capital.
Simple Percentage: $107 premium / $100,000 starting balance = 0.107%
Time-Weighted: Adjusts for the timing of deposits and withdrawals throughout the measurement period, giving a more accurate picture of portfolio performance.
Why it matters: As you add more capital over time, the time-weighted method prevents your performance numbers from being distorted by deposit timing. This is the same methodology used by institutional portfolio managers.
At scale, the performance tab becomes one of the most valuable screens in MyATMM. When you have been running the wheel across multiple tickers for six months or a year, the month-over-month and year-over-year performance data shows you exactly how your premium selling strategy is performing. You can identify which months were strongest, which tickers contributed the most premium, and whether your overall approach is delivering the returns you are targeting.
Stepping back and looking at the full four-part series, several important observations emerge about how the wheel strategy works in practice.
Across five transactions spanning the entire wheel cycle, the stock was acquired and disposed of at the same price. The capital gain on shares was zero. Yet the position generated $107 in income purely from option premium. This is the fundamental mechanism of the wheel: you are paid to participate at each step of the cycle, and the cumulative premium is your return.
Each stage of the wheel produced a credit to the account:
In Part 3, selling both a covered call and a cash-secured put simultaneously doubled the premium income for that week. The covered call was secured by the shares already owned, and the cash-secured put required separate collateral of $1,400. For traders with sufficient account size, this bilateral approach significantly improves capital efficiency by generating income from both sides of the options chain.
Tracking each transaction as it happens — not retroactively, not approximately, but precisely — is what separates organized traders from those who are guessing at their performance. Throughout this series, every premium collected, every assignment processed, and every fee paid was logged in MyATMM. At the end of the cycle, the numbers reconcile perfectly with what happened in the brokerage account.
This four-part series demonstrated the wheel strategy on a single ticker with modest position sizing. The real power of the wheel reveals itself when you begin scaling — running the strategy across multiple tickers, multiple expirations, and multiple account sizes simultaneously.
Imagine running the wheel on five different stocks at the same time. Each ticker is at a different phase of the cycle: one has an open cash-secured put awaiting expiration, another just got assigned and needs a covered call, a third has both a covered call and a cash-secured put open, and so on. Without a dedicated tracking system, keeping all of those positions, premiums, and cost basis numbers straight becomes a genuine headache.
This is precisely the scenario MyATMM is built for. The dashboard aggregates all tickers into a single view. The cost basis page lets you drill into any individual position. The performance tab shows you how the entire portfolio is performing over time. And the allocation percentages keep your position sizing in check so no single ticker dominates your account.
SoFi is a relatively low-priced stock, which makes it accessible for learning and for smaller accounts. But the same wheel mechanics apply to higher-priced stocks like Nvidia, Tesla, or Apple. The premiums on those names are proportionally larger, which means each cycle of the wheel generates more income — though the collateral requirements are also higher. Future series will cover the wheel on these bigger names.
Not every stock is a good candidate for the wheel strategy. You generally want stocks that are liquid (tight bid-ask spreads), have reasonably rich option premiums, and are names you would not mind owning for a period of time. The wheel is a strategy that inherently involves stock ownership, so it works best on underlyings you have conviction in.
For quick reference, here is a summary of the entire four-part series with links to each installment:
| Part | Title | Key Action | Premium |
|---|---|---|---|
| Part 1 | Selling Cash-Secured Puts | Sold CSP at $14.50 strike | +$51.00 |
| Part 2 | Put Assignment & Cost Basis | Assigned 100 shares at $14.50 | $0.00 |
| Part 3 | Covered Calls + Cash-Secured Puts | Sold CC at $14.50, sold CSP at $14.00 | +$55.98 |
| Part 4 (This Article) | Full Wheel Wrap-Up | CC assigned, CSP expired, cycle complete | $0.00* |
*Part 4 premium is $0.00 because no new options were sold — this was the resolution of positions opened in Part 3. Total premium across all parts: $107.
Throughout this four-part series, one theme has been constant: tracking matters. It is not enough to know roughly how much premium you collected or approximately when you entered a position. The wheel strategy involves multiple interrelated transactions, and getting sloppy with record-keeping leads to confusion about your true profit, your actual cost basis, and whether your strategy is genuinely working.
Here are the specific tracking challenges the wheel presents — and how MyATMM addresses each one:
A single wheel cycle on one ticker generated five separate transactions. Scale that to ten tickers running simultaneously, and you could be managing 50+ transactions across different phases, different dates, and different premium amounts. MyATMM's cost basis page organizes all of this by ticker, showing you exactly where each position stands at any moment.
Every time you sell a cash-secured put or covered call, the premium collected effectively reduces your cost basis on the underlying position. Tracking this accurately is important for understanding your true breakeven price on any stock you own through the wheel. MyATMM handles these adjustments automatically as you log each transaction.
Assignments generate stock buy or sell transactions. Expirations require position cleanup. Broker fees need to be captured. MyATMM's workflow — proposed records, copy-to-transaction, manual position cleanup — gives you full control over each step while keeping your history accurate.
Options trading involves significant risk and is not suitable for all investors. The wheel strategy, like all options strategies, carries the risk of substantial losses. The example presented in this series uses simulated/paper trading data for educational purposes only and does not represent actual trading results.
Past performance — whether real or simulated — is not indicative of future results. The $107 premium collected in this example should not be interpreted as a guaranteed or expected outcome. Market conditions, volatility, stock selection, and timing all impact results and can lead to losses that exceed the premium collected.
MyATMM is a tracking and record-keeping tool. It does not provide investment advice, trading recommendations, or financial planning services. Always consult with a qualified financial professional before making investment decisions. You should fully understand the risks of options trading, including the possibility of losing your entire investment, before employing any options strategy.
For more information, please review our full disclaimer.
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