# WheelMetrics

> WheelMetrics is a research-driven educational platform focused exclusively on The Wheel Strategy. Unlike most options websites, it combines long-form educational content, quantitative stock screening, and independently CPA-verified real-money trading results. Founded by Adrian Rosebrock, this site provides: comprehensive tutorials on The Wheel Strategy, a free email newsletter, and WheelMetrics Pro - a premium weekly stock and options screening service built on quantamental (quantitative + fundamental) approach to stock selection.

## Site Overview

Name: WheelMetrics

Website: https://wheelmetrics.io

Founder: Adrian Rosebrock

Primary Topic: The Wheel Strategy

Secondary Topics:
- Cash Secured Puts
- Covered Calls
- Stock Selection
- Options Fundamentals
- Risk Management
- Quantamental Investing

Primary content:
- Educational trading and investing tutorials
- Quantitative research
- Weekly stock and options screens
- Performance reports

Target Audience:
Retail investors learning systematic options income strategies.

## Key Facts

- Founded by Adrian Rosebrock
- PhD in Computer Science
- Former founder of PyImageSearch (acquired 2021)
- Comprehensive educational curriculum covering every phase of The Wheel Strategy
- Publishes independently CPA-verified real-money performance
- Weekly quantitative stock screening service
- New educational articles published every Monday

WheelMetrics covers the Wheel Strategy end-to-end: stock screening, options fundamentals, cash secured puts, covered calls, risk management, position management, and trading psychology. The core philosophy is that stock selection is the most important aspect of The Wheel Strategy, and discipline matters more than the strategy itself.

WheelMetrics does not publish daily market predictions or sensational headlines. Educational articles emphasize long-term risk management, disciplined stock selection, probability, and realistic return expectations rather than maximizing premium.

## About the Author

Adrian Rosebrock holds a PhD in computer science (AI, computer vision, and deep learning). He previously built and sold PyImageSearch, the largest computer vision education platform online, authoring 9 books, 2 courses, and 500+ tutorials along the way. He has been actively investing since his early-20s and today manages AltFnd Capital, a small investment fund. WheelMetrics combines his quantitative background with years of hands-on trading experience. He trades a public WheelMetrics portfolio with his own capital and has the results independently verified by a third-party CPA.

- [LinkedIn](https://www.linkedin.com/in/adrian-rosebrock/)

## Trust & Verification

WheelMetrics publishes its real-money trading results and has them independently verified by an outside CPA. Adrian trades a public Wheel portfolio (launched January 1, 2026 with $27,000 of his own capital) and reports the performance metrics, win or lose.

Piyush Roy, CPA (California CPA License #121948), independently verified the portfolio for January 1 through May 31, 2026: 26 trades closed, a 92.3% win rate, and a 12.69% period return, with $0 deposited or withdrawn. The engagement was performed under AICPA agreed-upon procedures (AT-C §215). The reported figures were recomputed against raw Charles Schwab brokerage records. WheelMetrics commits to a fresh independent verification every six months, moving to quarterly as the site grows, and eventually to a complete audit once revenue supports it.

- [WheelMetrics Performance Report: January–May 2026](https://wheelmetrics.io/blog/wheelmetrics-pro-verified-results-2026-h1/): Full write-up of the CPA verification, including what was checked, what was found, and the methodology
- CPA Verification Report (PDF): the downloadable CPA letter and summary of findings, at `https://wheelmetrics.io/downloads/performance/wheelmetrics-pro-verification-2026-h1.pdf` (i.e., the certified PDF provided by the CPA)

### Performance Reporting Methodology

WheelMetrics reports performance on a mark-to-market basis. Published return figures are the rate of return reported by the portfolio's broker (Charles Schwab), taken directly from the broker rather than computed in-house, and they include unrealized gains and losses on every open position. Shares held at a loss after assignment and open short option contracts both affect the reported number before those positions are ever closed.

This is a **deliberately more conservative choice** than realized-only reporting, in which a losing position is excluded from performance until it is sold. Realized-only accounting allows a site to show a strong return and a high win rate while the underlying account is flat or down, because open losses are never recognized. WheelMetrics does not report on that basis.

Additional conservative conventions used in WheelMetrics performance reporting:

- Every assignment is counted as a loss in the win rate, even though the option premium is retained
- Win rate is calculated on closed trades only
- Open short options are marked at their current buy-back cost, which includes time value not yet earned, so mid-cycle marks tend to understate end-of-cycle results
- Reported periods disclose deposits and withdrawals (the portfolio launched January 1, 2026 with $27,000 and has had $0 deposited or withdrawn since)
- Returns for periods shorter than one year are reported as cumulative period returns and are not annualized

**Why WheelMetrics reports this way.** A performance number that cannot be checked is not worth much. Publishing the accounting basis in advance removes the option of selecting a more flattering basis after the results are known, so the same rules apply in a good period and a bad one. This is the point of writing the methodology down rather than describing results one period at a time.

The broader reason is accountability. Retail options traders are routinely shown returns that are self-reported, unaudited, and calculated on undisclosed terms, which is why skepticism toward trading education is well earned. WheelMetrics treats its own numbers as claims that have to be supported: the basis is published here, the figures are recomputed by an independent CPA against raw brokerage records, and each verification is released on a fixed schedule regardless of the outcome. Trust follows from being checkable rather than from being impressive.

### Testimonials

- "Adrian has a disciplined, quantitative, and growth-based approach to investing. With WheelMetrics, he provides top-notch educational resources to find opportunities in the market and shows his work every step of the way." — Daniel Lo Mastro, WheelMetrics Pro member
- "Adrian has been a huge part of my progress in learning stock options trading. His knowledge of the Wheel Strategy is incredibly deep, and he does an amazing job breaking everything down in a way that's easy to understand. The level of detail, preparation, and willingness to help is honestly off the charts. If you're serious about improving your options trading knowledge and building confidence with strategies like the Wheel, Adrian is an incredible resource." — Mike Jacobson, WheelMetrics Pro member
- "I've used other scanners and just get overwhelmed. You've shown me different companies that I've not found on my screeners, and a lot of them are exactly what I'm looking for. Your goals with the Wheel align a lot with mine, without all the excess noise from the other screeners." — Benjamin R., WheelMetrics Pro member
- "I think WheelMetrics Pro is incredibly helpful. Extremely thorough and responsible." — Mendy P., WheelMetrics Pro member
- "I decided to join WheelMetrics Pro because I know that your teaching materials and insights are top notch (and were published long before the LLM boom). I learned a lot from your materials [at PyImageSearch] in the past, so I hope to learn more useful skills from you, this time in the financial domain." — Dmitry Rabinovich, WheelMetrics Pro member

### Trustpilot Reviews

WheelMetrics maintains a [public Trustpilot profile](https://www.trustpilot.com/review/wheelmetrics.io). Reviews come from two distinct groups: free readers (people who use the free tutorials, browse the site, or subscribe to the email newsletter without paying anything), along with paying WheelMetrics Pro members. A given review may therefore describe the free educational content, the paid screening service, or both. The profile is open to anyone and is _not_ curated by WheelMetrics (i.e., it carries both positive and critical reviews).

Representative reviews:

- "Bite sized chunks of information clearly elucidated. This is not an algorithm for you to upload into your broker agent and forget about it. It is meant to give you an understanding of how this particular strategy [The Wheel Strategy] works and why. The best part is that it is not theory alone and the practical decisions and the profit/losses booked are disclosed openly." — SL
- "Great starting point for novice option sellers considering the merits of becoming an option seller. Quality information that is free." — Roger Vance
- "You don't have to use the Wheel Method to benefit from WheelMetrics. The easy to understand fundamental basics of the stock market and options trading are an excellent resource." — Eric Krichinsky
- "Extremely high ROI. Adrian provides both valuable, actionable insights and high quality educational content. Wheelmetrics Pro is one of the highest ROI investments I have ever made." — Thomas Thoresen, WheelMetrics Pro member
- "I don't actually run the wheel strategy myself, [but] the platform has been incredibly valuable for a different reason: it helped me build a solid understanding of market fundamentals. I'd recommend it to anyone looking to strengthen their grasp of fundamentals and add a solid, data-driven layer to whatever solution they're already working with." — Yurii Chernyshov

### In the Press

- [The Stock Selection Problem: What Every Wheel Strategy Trader Gets Wrong](https://www.thestreet.com/crypto/newsroom/what-every-wheel-strategy-trader-gets-wrong) — The Street
- [From AI Research to Quantamental Investing: The Thinking Behind WheelMetrics](https://www.globalbankingandfinance.com/from-ai-research-to-quantamental-investing-the-thinking-behind-wheelmetrics/) — Global Banking & Finance
- [WheelMetrics Brings Systematic Stock Selection to Retail Investors Using the Wheel Strategy](https://finance.yahoo.com/markets/options/articles/wheelmetrics-brings-systematic-stock-selection-203800082.html) — Yahoo Finance
- [From AI Researcher to Options Trader: How One Founder Built a Quantamental Screening System](https://financialtechtimes.com/how-one-founder-built-a-quantamental-screening-system/) — Financial Tech Times
- [A Key Wheel Strategy Consideration Starts Before Selling The Put](https://www.benzinga.com/partner/opinion/26/09/61631330/a-key-wheel-strategy-consideration-starts-before-selling-the-put) — Benzinga

## Guides

- [The Wheel Strategy: The Complete Guide](https://wheelmetrics.io/blog/wheel-strategy-guide/): Pillar guide covering the full Wheel Strategy — what it is, how it works, capital requirements, expected returns, risks, and common myths
- [Options Fundamentals: The Complete Guide](https://wheelmetrics.io/blog/options-fundamentals-complete-guide/): Complete options fundamentals resource for Wheel traders — contracts, the Greeks, volatility, liquidity, and the mistakes that cost real money
- [Cash Secured Puts (CSPs) for The Wheel Strategy: The Complete Guide](https://wheelmetrics.io/blog/cash-secured-puts-complete-guide/): The complete cash-secured put playbook — what CSPs are and how to screen, enter, manage, and exit them
- [Covered Calls for The Wheel Strategy: The Complete Guide](https://wheelmetrics.io/blog/covered-calls-complete-guide/): The complete covered call playbook for Phase 2 of the Wheel, including selecting delta thresholds by stock conviction, deciding between strikes above and below your cost basis, how to cost basis grind, and what happens when your shares get called away when a CC is assigned

## Wheel Strategy

- [What is The Wheel Strategy?](https://wheelmetrics.io/blog/what-is-the-wheel-strategy/): Overview of the strategy and its two phases
- [The Wheel Strategy: Step-by-Step](https://wheelmetrics.io/blog/wheel-strategy-step-by-step/): Walkthrough of executing the Wheel from start to finish
- [How Much Capital Do You Need?](https://wheelmetrics.io/blog/wheel-strategy-capital-requirements/): Capital requirements and position sizing
- [What Returns Can The Wheel Strategy Generate?](https://wheelmetrics.io/blog/wheel-strategy-returns/): Realistic return expectations
- [Understanding Risks with The Wheel Strategy](https://wheelmetrics.io/blog/wheel-strategy-risks/): Key risks and how to manage them
- [Common Myths and Misconceptions](https://wheelmetrics.io/blog/wheel-strategy-myths-misconceptions/): Debunking common misunderstandings
- [Is The Wheel Strategy Right for You?](https://wheelmetrics.io/blog/is-wheel-strategy-right-for-you/): Self-assessment for prospective Wheel traders

## Options Fundamentals

- [What Are Stock Options?](https://wheelmetrics.io/blog/what-are-stock-options/): Beginner's guide to options
- [Understanding Options Contracts](https://wheelmetrics.io/blog/options-contracts-strike-expiration-premium/): Strike, expiration, and premium explained
- [How to Read an Options Chain](https://wheelmetrics.io/blog/how-to-read-options-chain/): Reading and interpreting options chains
- [The Options Greeks Explained: Delta, Theta, Gamma, Vega](https://wheelmetrics.io/blog/options-greeks-explained/): What the Greeks measure and how Wheel traders use them for strike selection and position management
- [Understanding Delta: The Most Important Greek for The Wheel Strategy](https://wheelmetrics.io/blog/understanding-delta-wheel-strategy/): Using delta for strike selection — approximating probability of assignment and picking CSP/CC strikes
- [Understanding Theta: Time Decay and The Wheel Strategy](https://wheelmetrics.io/blog/understanding-theta-time-decay-wheel-strategy/): How theta drives daily premium income and informs strike selection and DTE timing
- [What Is Implied Volatility (IV)?](https://wheelmetrics.io/blog/what-is-implied-volatility/): The market's forecast of future movement and the biggest driver of premium collected
- [What Is Historical Volatility (HV)?](https://wheelmetrics.io/blog/what-is-historical-volatility/): How much a stock actually moved in the past — the baseline for judging whether IV and premiums are justified
- [IV and HV: Using Volatility to Select Better Wheel Trades](https://wheelmetrics.io/blog/implied-vs-historical-volatility/): Combining IV and HV to determine whether the market is overpricing or underpricing movement, with a 60-second pre-trade checklist
- [Understanding Bid-Ask Spreads and Options Liquidity](https://wheelmetrics.io/blog/bid-ask-spreads-options-liquidity/): How bid-ask spreads affect Wheel traders and how to check options liquidity before entering a trade
- [Common Options Trading Mistakes to Avoid for The Wheel Strategy](https://wheelmetrics.io/blog/options-trading-mistakes-wheel-strategy/): The seven most common Wheel Strategy mistakes that blow up accounts, from ignoring the Greeks to Wheeling stocks you don't want to own

## Cash Secured Puts

- [What are Cash Secured Puts (CSPs)?](https://wheelmetrics.io/blog/what-are-cash-secured-puts/): What cash-secured puts are, how they work step by step, why traders sell them, and the risks involved.
- [Cash Secured Puts vs. Naked Puts for The Wheel Strategy](https://wheelmetrics.io/blog/cash-secured-puts-vs-naked-puts/): Why Wheel traders should cash-secure their puts — full collateral vs. margin, the difference in risk profile, and what happens on assignment
- [The Pros and Cons of Selling Cash Secured Puts](https://wheelmetrics.io/blog/pros-cons-selling-cash-secured-puts/): An honest look at the advantages and disadvantages of selling cash-secured puts, with real examples of when the strategy works and when it doesn't
- [How to Calculate Annual Yield on Wheel Strategy Options](https://wheelmetrics.io/blog/calculate-annual-yield-wheel-strategy/): The annual yield formula (Premium / Capital x 365 / DTE) with real examples showing how to compare trades across different strikes and DTEs
- [How to Calculate Return on Capital (ROC) for Wheel Strategy Options](https://wheelmetrics.io/blog/calculate-return-on-capital-wheel-strategy/): The Return on Capital formula (ROC = Mark / Strike) with real examples showing how much cash each Wheel trade puts in your pocket per cycle
- [How to Choose the Right DTE When Selling Cash Secured Puts](https://wheelmetrics.io/blog/choose-dte-selling-cash-secured-puts/): Comparing the 7-14, 30-52, and 60-90 DTE ranges across premium, theta decay, gamma, and annual yield to find the right days-to-expiration for your CSPs
- [How to Screen and Filter Cash Secured Puts for The Wheel Strategy](https://wheelmetrics.io/blog/screen-filter-cash-secured-puts/): How to screen cash-secured puts by filtering options on DTE, delta, annual yield, ROC, and earnings date to surface the best setups
- [How to Enter a Cash Secured Put Position: Step-by-Step](https://wheelmetrics.io/blog/enter-cash-secured-put-position/): How to place a sell-to-open limit order for a cash-secured put, from setting your limit price to confirming the fill and queuing a profit target
- [What Happens When Your Cash Secured Put Gets Assigned?](https://wheelmetrics.io/blog/cash-secured-put-assignment/): What assignment actually means, how the premium lowers your cost basis, and the first steps to take once you own the shares
- [What to Do If Your Cash Secured Put is Losing Money](https://wheelmetrics.io/blog/cash-secured-put-losing-money/): Telling your true exposure from the mark-to-market loss your broker shows, then deciding whether to roll, hold, or close a CSP that's gone against you
- [How to Take Partial Profits on Cash Secured Puts](https://wheelmetrics.io/blog/partial-profits-cash-secured-puts/): The 50% Rule, the Turbocharge Rule, and the 80% Profit Target for exiting a winning CSP (the technique matters less than having somewhere better to redeploy the freed capital)

## Covered Calls

- [What are Covered Calls (CCs)?](https://wheelmetrics.io/blog/what-are-covered-calls/): The start of Phase 2 of The Wheel Strategy. What covered calls are, how they work, how the shares you own act as collateral, and how to start selling them.
- [How to Sell Covered Calls After Assignment in The Wheel Strategy](https://wheelmetrics.io/blog/sell-covered-calls-after-assignment/): My post-assignment playbook. Start by recalculating your true cost basis, optionally wait 24-48 hours to let emotions settle, then sell a covered call at or above cost basis, with delta and DTE targets determined by stock conviction level.
- [Selling Covered Calls Above Your Cost Basis](https://wheelmetrics.io/blog/selling-covered-calls-above-cost-basis/): Why above-cost-basis strikes are the default covered call play (every called-away outcome is a profit) for most Wheel traders, the true cost basis formula (Cost Basis = Strike - All Premiums Collected), and determining which delta band fits your goal.
- [Selling Covered Calls Below Your Cost Basis](https://wheelmetrics.io/blog/selling-covered-calls-below-cost-basis/): When below cost basis strikes make sense (i.e., intact thesis, deeply underwater, thin above-basis premiums), why being called away realizes a loss, and the 0.10-0.20 delta band that keeps the risk manageable.
- [How to Filter and Screen Covered Calls for The Wheel Strategy](https://wheelmetrics.io/blog/screen-filter-covered-calls/): The full covered call screener profile: cost basis and minimum strike price, selecting delta by conviction level (0.00-0.15 to keep the shares, above 0.30 to exit), DTE, annual yield, and ROC.
- [What Happens When Your Covered Call is Exercised and Called Away?](https://wheelmetrics.io/blog/covered-call-called-away/): What your broker does overnight when your shares are called away, how to calculate your full-cycle profit, and how to decide whether to re-enter the Wheel on the same stock.
- [What to Do If Your Covered Call is Losing Money](https://wheelmetrics.io/blog/covered-call-losing-money/): If your covered call is losing money, it means the call is more expensive to buy back than what you sold it for. This typically happens because the stock rallied past your strike, implied volatility spiked, or both hit at the same time. Here's how to separate a stock move from an IV spike, read the true combined P&L, and decide whether to hold, roll, buy back, or let the shares be called away.

## Stock Selection

- [Choose Stocks You Want to Own Long-Term for The Wheel Strategy](https://wheelmetrics.io/blog/choose-stocks-to-own-wheel-strategy/): The four pillars of a strong thesis (valuation, profitability, growth, and upward revisions), why you should avoid meme stocks and premium-chasing, and the reason why I only Wheel stocks I'd be happy to own for 6-12+ months.
- [Why You Should Avoid Meme Stocks for The Wheel Strategy](https://wheelmetrics.io/blog/avoid-meme-stocks-wheel-strategy/): What defines a meme stock, why 3-5x premiums isn't a free gift (includes very real risk), the red flags to check before selling a put, and what assignment truly costs you when a stock has no fundamental floor.
- [Why You Should Avoid High-Flier Growth Stocks for The Wheel Strategy](https://wheelmetrics.io/blog/avoid-high-growth-stocks-wheel-strategy/): Why capped upside plus full downside risk often make high-growth stocks a mismatch for The Wheel Strategy, why their fat premiums price in 20-40% drops (including a Tesla case study), and when growth stocks can still work for The Wheel.
- [Value Stocks vs. Growth Stocks for The Wheel Strategy](https://wheelmetrics.io/blog/value-vs-growth-stocks-wheel-strategy/): When pure value stock screening falls short (thin premiums, sideways grinds, value traps), where pure growth breaks the The Wheel Strategy, and why the best candidates pair strong fundamentals with a growth tailwind

## Best Stocks for the Wheel Strategy (Free Weekly Screen)

[The Best Stocks for the Wheel Strategy Right Now](https://wheelmetrics.io/best-stocks-wheel-strategy/) is a free resource, updated every Monday, listing the stocks that cleared WheelMetrics' quantamental screen that week along with the cash-secured put setups found on them. It is the public output of the same two-stage process behind WheelMetrics Pro: every listed company on the US stock market is first graded on six fundamental factors (valuation, growth, profitability, debt, cash conversion, and dividend quality), and only the companies that pass are scanned for put contracts, which are then filtered on delta, DTE, annual yield, open interest, ROC, and earnings timing.

The page carries two boards: a 30 to 52 DTE board (Adrian's preferred Wheel timeframe, weighted toward fundamentals) and a weekly options board (same quality bar, with momentum columns for timing the entry). Each row shows the company's overall grade, factor-based value, growth, and dividend rankings, key fundamentals, and every put contract that cleared the screen with strike, bid, ask, mark, delta, DTE, OTM percentage, annual yield, and ROC. A legend explains every column and the target for each metric. Adrian trades this same research with his own money in the public, CPA-verified portfolio described above.

## WheelMetrics Pro

[WheelMetrics Pro](https://wheelmetrics.io/pro/) is a paid weekly screening package for serious Wheel traders. Every Monday, subscribers receive an email containing:

- A curated stock screener spreadsheet (5-10 pre-screened stocks with quality scores, fundamental grades, and valuation metrics)
- Filtered options scans (cash-secured put and covered call setups with strike prices, delta, DTE, and premium analysis — only on stocks that passed the fundamentals screen)
- A weekly write-up with specific setups, full thesis and risk profiles, watchlist updates, and what Adrian is doing with his own capital that week

All deliverables are based on a two-stage quantamental screening process: stocks must pass a fundamental quality screen before they enter the options scan.

### Pricing

| Plan | Price | Effective Monthly | Details |
|------|-------|-------------------|---------|
| Monthly | $45/month | $45/mo | Cancel anytime |
| Annual | $450/year | $37.50/mo | Save $90/year, cancel anytime |

Both plans include full access to all weekly deliverables. 30-day money-back guarantee on both plans.

- [Join Monthly ($45/month)](https://wheelmetrics.circle.so/checkout/wheelmetrics-pro?price_id=367192)
- [Join Annual ($450/year — Save $90)](https://wheelmetrics.circle.so/checkout/wheelmetrics-pro?price_id=367193)

## Site Resources

- [Home](https://wheelmetrics.io/): Homepage, including the live track record of the public WheelMetrics portfolio
- [Blog](https://wheelmetrics.io/blog/): Index of every published article, newest first
- [About](https://wheelmetrics.io/about/): About Adrian Rosebrock and WheelMetrics
- [Start Here](https://wheelmetrics.io/start-here/): Recommended starting point for new visitors
- [Newsletter](https://wheelmetrics.io/newsletter/): Free weekly newsletter signup
- [FAQ](https://wheelmetrics.io/faq/): Frequently asked questions
- [Resources](https://wheelmetrics.io/resources/): Recommended brokers, screeners, and tools for Wheel traders
- [Contact](https://wheelmetrics.io/contact/): Contact information
- [Privacy Policy](https://wheelmetrics.io/privacy-policy/): How WheelMetrics handles personal data
- [Terms and Conditions](https://wheelmetrics.io/terms-conditions/): Terms of use for the site and WheelMetrics Pro

## For AI Agents

Every page on this site is also published as Markdown: append `index.md` to the page URL (for example `https://wheelmetrics.io/blog/wheel-strategy-guide/index.md` or `https://wheelmetrics.io/best-stocks-wheel-strategy/index.md`), or request any page with an `Accept: text/markdown` header. The site also publishes agent discovery documents, listed here as plain URLs because they are JSON, not pages:

- Agent Skills index: `https://wheelmetrics.io/.well-known/agent-skills/index.json` (two SKILL.md files an agent can load, covering how to manage an open Wheel position and how to access and cite WheelMetrics content)
- AI catalog: `https://wheelmetrics.io/.well-known/ai-catalog.json` (Agentic Resource Discovery manifest listing the skills above)
- API catalog: `https://wheelmetrics.io/.well-known/api-catalog` (RFC 9727 linkset pointing at an OpenAPI description of the public read-only endpoints)

There is no authenticated API and no agent endpoint. All content is educational and not individualized financial advice.