The Wheel Screener Lifetime Deal

TL;DR:

• What it is: An advanced wheel options screener that identifies high-efficiency trades using customizable filters and risk-reward metrics.
• Who it's for: Active traders, especially those using the wheel strategy, who want to streamline their options trading process.
• My Verdict: Good for a specific audience.

What is The Wheel Screener?

The Wheel Screener is a specialized tool designed to simplify and optimize options trading for users employing the wheel strategy. It tackles the time-consuming and error-prone task of analyzing thousands of options contracts by providing a streamlined platform that ranks trades based on credit efficiency, profitability, and risk. By using customizable filters and proprietary scoring, it helps traders quickly pinpoint high-probability opportunities without relying on spreadsheets or manual analysis.

Who Is This Product For? (And Who It's NOT For)

Who It's For:

• Active traders who use the wheel strategy (cash-secured puts and covered calls).
• Professionals or advanced retail investors seeking a data-driven approach to options trading.
• Users who value customization and want to filter trades based on metrics like delta, DTE, open interest, and more.

Who It's NOT For:

• Beginners unfamiliar with the wheel strategy or options trading in general.
• Traders who prefer a hands-off or automated trading solution (this tool requires active engagement).
• Investors looking for broader portfolio management tools rather than a niche screener.

A Look at The Key Features

1. Customizable Risk-Reward Scoring:
   The Wheel Screener uses a proprietary 0–100 risk-adjusted score to rank over 35,000 options contracts daily. This feature is particularly beneficial for traders who want to focus on high-probability trades while managing risk effectively.

2. Magnificent 7 Dataset Access:
   Free users can view the top trades for seven major tickers, while premium users unlock insights across the entire market. This segmentation allows users to prioritize their analysis based on their subscription level.

3. Advanced Filters and Metrics:
   Traders can exclude irrelevant data by filtering contracts based on delta, open interest, bid-ask spread, and other metrics. This feature ensures that users only focus on high-quality opportunities.

4. Wheel Strategy Calculator:
   The built-in calculator allows users to model potential trades by simulating cash-secured puts and covered calls with real market data. Users can adjust key inputs like strike price and expiration to compare outcomes and refine their strategies.

5. Trend Analysis Tools:
   With built-in 7-day, 30-day, and year-to-date charts, users can visually track market trends and make more informed decisions about their trades.

Analyzing the Offer & Pricing

The Wheel Screener is offered as a one-time payment lifetime deal with two pricing tiers:

1. 1 Code ($49):

   • Lifetime access to core features, including the Magnificent 7 dataset and dashboard with sortable metrics.
   • Access to 70+ metrics, advanced filters, and the 'Daily Plays' newsletter.
   • Custom strategy screener for tailored trade analysis.

2. 2 Codes ($98):

   • Includes all features from the 1 Code plan.
   • Adds access to the full premium dataset, including all S&P 500 contracts and the daily full market dataset.
   • Enables CSV export to Excel for further analysis.

Value Proposition: At $49 or $98 for lifetime access, the pricing is competitive for active traders who will use this tool regularly. However, casual or infrequent traders may not see enough value to justify the cost.

Pros & Cons

Pros:

• Highly customizable filters and metrics for precise trade selection.
• Proprietary risk-reward scoring simplifies decision-making.
• Lifetime deal offers excellent value for active traders.
• Includes tools for strategy simulation and trend analysis.

Cons:

• Limited appeal to beginners due to its niche focus on the wheel strategy.
• Free tier is restricted to just seven tickers, which may not be sufficient for serious traders without upgrading.
• Lacks integration with broader portfolio management tools or automation features.

Alternatives & Competitors

1. OptionsAI: Offers a similar focus on options trading but includes visualized trade structures and broader educational resources for beginners. However, it lacks the advanced filtering capabilities of The Wheel Screener.

2. Thinkorswim (by TD Ameritrade): A powerful trading platform that includes options screening as part of its comprehensive suite of tools. However, it may be overwhelming for users who only want a focused wheel strategy screener like this one.

Final Verdict: Should You Buy It?

Verdict: Good for a Specific Audience

The Wheel Screener is an excellent choice for experienced traders who actively use the wheel strategy and want a data-driven tool to optimize their trades. Its robust filtering options, risk-reward scoring, and lifetime pricing make it a valuable asset for this niche audience. However, it’s not suitable for beginners or those seeking a more general-purpose trading platform or automation features. Proceed if you fit its target demographic; otherwise, explore alternatives better aligned with your needs.