How to Use the Wheel Strategy Screener - Find Your Next Trade
The Wheel Strategy Screener is the most purpose-built cash-secured put screening tool available, designed specifically for traders who execute the wheel strategy systematically across a diversified set of underlying stocks. This tutorial explains how to configure the screener for your trading style, build a repeatable daily workflow, and use advanced filters to refine opportunities beyond the default settings.
The screener's Wheel Score algorithm ranks every opportunity by a composite metric that combines annualized ROI, probability of profit, liquidity quality, and underlying stock quality score. Begin by filtering the universe to stocks you are comfortable potentially owning — use the sector filter to focus on industries you understand, the market cap filter to exclude micro-cap stocks with volatile options prices, and the earnings date filter to avoid stocks with upcoming announcements within your target expiration window.
Once your universe is configured, set your financial criteria: minimum annualized ROI threshold, delta range for strike selection, and minimum probability of profit. The screener immediately shows how many stocks in your filtered universe have opportunities meeting your criteria, and ranks them by Wheel Score. From there, click any opportunity to open the full analyzer, review the trade in detail, and add it to your watchlist or open a position through your connected broker. Save the complete configuration as a named preset for one-click reuse in future sessions.