The desk for traders who run the wheel.
Track every dollar of premium, find covered calls and cash-secured puts on stocks you actually want to own, and catch the mistakes that quietly cost money.
New to it? The wheel is a steady options-income routine: sell a put on a stock you'd be glad to own, and if you're assigned the shares, sell calls against them.
The trade journal is free to use today. Founders get every wheel tool as it ships. Just want the math? Try the free wheel calculator.
- Sell a cash-secured put to get paid while you wait for your price.
- Get assigned shares; the premium lowers your cost basis.
- Sell a covered call above your basis for more premium.
- Shares called away, back to cash, and start again.
What the desk does at each turn of the wheel
The wheel is simple on paper. The hard part is the bookkeeping and the discipline. That's the part Arowana handles.
Pick stocks you'd own
Start from a short list of companies you'd be comfortable holding.
Your Want-to-Own list filters every scanner.Sell a put
Choose a strike and expiration that pay enough for the risk.
The put scanner shows yield, cash needed, and earnings dates.Handle assignment
If the stock drops below your strike, you own the shares.
Cost basis updates automatically with every premium.Sell a call
Pick a strike above what the shares really cost you.
The call scanner only suggests strikes above your basis.Review the month
See what you earned, what it cost, and what repeated.
The income tracker and coach sum it up in one place.
Built for income, not for the next hot tip
Some of this works today. The wheel-specific tools are being built now, and Founders get each one first.
Premium income tracker
Premium by month, yield on the cash you tied up, and your real cost basis after every assignment. No more spreadsheet.
Founders firstCovered call and put scanners
Candidates for the shares you hold and the stocks you want to own, with earnings dates flagged before you pick an expiration.
Founders firstRoll and risk coach
When a position is tested, see your choices (roll, take assignment, or close) and the rule behind each one. Get warned about concentration and earnings risk.
Founders firstTrade journal
Stock and options trades in one log, with mistake tags and notes. Import your broker's CSV instead of typing trades by hand.
Available nowThree rules the desk won't break
Every signal shows its rule
No mystery scores. If a number drives a suggestion, you can see exactly how it was calculated.
No made-up numbers
When real data isn't available, you'll see an empty state and the reason, never a placeholder that looks real.
Education, not stock picks
Arowana helps you track, check, and stick to your own plan. It doesn't tell you what to buy.
Who it's for
A good fit if you
- Sell cash-secured puts or covered calls, or want to start
- Hold shares in a brokerage account or IRA and want income from them
- Track premium and cost basis in a spreadsheet today
- Want guardrails that stop an expensive mistake before it happens
Probably not for you if you
- Day trade and need tick-by-tick scanners
- Only buy and hold, and never trade options
- Want someone to hand you stock picks
Become a founding member
Founders are the first traders on the Wheel Strategy Desk. You get every wheel tool as it ships, a year of Pro included, and a direct say in what gets built next.
Limited to the first 100 members.
- 12 months of Pro included, then $399/year
- Every wheel tool as it ships: scanners, income tracker, coach
- A direct line to request features and report problems
- Prefer to pay monthly? See Free, Pro and Pro