Free tool

Cash planner by account size

Cash-secured puts tie up cash, so the useful question is how many you can run at once. Set a reserve and a position limit and see what fits, whether your account is $5,000 or $50,000.

Your account

Cash you're willing to use for the Wheel.
Example only. Not a recommendation.
Example only. Pick your own limit.

What that gives you

Cash kept in reserve—
Cash available to secure trades—
Largest single position—
Positions that fit at that size—
Highest strike price for one contract—

Check a trade

Cash this trade secures—
Share of your account—
Against your position limit—
Cash still available afterwards—
How I think about it:

Keeping cash back means one assignment doesn't stop you taking the next opportunity. Smaller accounts hit the limit faster, because one contract on a $50 stock secures $5,000, so a position limit quickly rules out higher-priced shares.

Related: Capital allocation guide · How much capital to put to work

Risk notice: Options trading involves substantial risk and is not suitable for every investor. Cash-secured puts and covered calls can result in losses, including significant losses from owning shares that decline in value. Rolling does not eliminate losses or guarantee a profitable outcome. Premiums are not guaranteed income. The educational material on this website is general information only and is not personalised investment advice or a recommendation to buy or sell any security or options contract.