Question 1

Why does adjusted cost basis get messy after rolls and assignment?

Accepted Answer

Because the wheel stops being one trade. It becomes a chain of linked events. Once you add assignment, covered calls, called away shares, and rolls, a simple spreadsheet often starts treating connected events as if they were unrelated. That creates formula drift, double counting, or a cost basis number that no longer explains what happened. The usual trouble spots are: assignment creating a new share lot premium reducing the effective basis of that lot covered calls being sold against the same shares rolls extending the position without a clean cycle link open and closed legs being mixed together The fix is to keep the raw trade legs intact, then connect them in a cycle level view. That way you can still calculate adjusted cost basis, but you are not forcing the whole wheel into one fragile formula. Wheelytics is designed for exactly this kind of linked trade history, especially when broker reports stop short of showing the full wheel cycle clearly.

Question 2

Should stock gains count as wheel premium?

Accepted Answer

Usually, no. If shares are assigned or called away at a gain, that stock leg result is separate from option premium. Mixing the two makes it harder to see whether the wheel itself is producing steady premium income or whether the result came from stock appreciation. A cleaner approach is to track: premium income from sold puts and covered calls stock leg P&L from assignment, holding, and called away shares cycle level net result if you want the full outcome of the wheel This is especially important after assignment and re entry, where cash movement can look larger than the real options income. Wheelytics separates these views so you can review premium, stock leg P&L, and cycle outcome without folding everything into one number.

Question 3

Why do I need two Flex Reports?

Accepted Answer

Wheelytics uses two separate Flex Reports to import your options trade data from Interactive Brokers (IBKR): Activity Flex Query – used both for initial historical import and for daily background syncs . This query helps capture trades that may appear in the report outside of market hours (e.g., on weekends or after expiration events). You can set any date range , but the report must include all required trade fields for proper processing. We recommend selecting “Last 365 Calendar Days” for the broadest coverage. Trade Confirmation Flex Query – used for importing real time trade updates during market hours. It runs automatically once per hour while markets are open. Using both reports ensures complete, reliable, and continuous tracking of your options trades — including delayed or off hours activity.

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Performance & Analytics

Data Import