Auto-Execute
Defaults to ON. The app sells puts when you have cash, sells calls when you hold shares — based on your delta, DTE, and premium rules.
iOS · Options Automation
Run the wheel on autopilot.
Theta Wheel Mistro sells cash-secured puts and covered calls for you — rules-based, hands-off, with push notifications when the wheel turns.
Currently in private beta — v014
Built for the wheel
Everything you need to run theta, nothing you don't.
IV Scanner
Continuously ranks your watchlist by implied volatility so you're always selling premium where it's richest.
Historical Backtests
Replay your rules against years of historical data to see how the wheel would have performed before you commit real capital.
Push Notifications
Get alerted the moment a contract fills, expires, or gets assigned. No staring at the screen.
Dashboard
Live P/L, open positions, cash buffer, and the next scheduled action all in one screen.
Safety Rails
Warns before pausing auto-execute. Confirms assignments. Your rules are your rules.
How it works
The wheel, automated in four steps.
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01
Pick your tickers
Add the stocks you'd actually want to own. The wheel works because you don't mind getting assigned.
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02
Set your rules
Target delta, days-to-expiration, minimum premium, max position size. Defaults are sane.
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03
Turn on Auto-Execute
The app scans, ranks, and sells the highest-IV contract that fits your rules. Daily, automatically.
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04
Get notified
Fills, expirations, assignments, called-aways — every wheel turn lands in your notifications.
The strategy
What is the wheel?
Step 1 — Sell a put
Collect premium for the obligation to buy a stock at a strike price you'd be happy to own it at. If the stock stays above the strike, the put expires worthless and you keep the premium.
Step 2 — Get assigned (maybe)
If the stock drops below the strike, you buy 100 shares at that price. You now own a stock you wanted anyway, at a discount to where you sold the put.
Step 3 — Sell a call
Now sell a covered call against those shares. Collect more premium. If the stock rises above the strike, your shares get called away at a profit.
Step 4 — Repeat
Back to step 1. The wheel turns. Premium flows in. Theta — time decay — is on your side every day.
FAQ
Questions, answered.
Does it place real trades?
Theta Wheel Mistro is currently a strategy engine and tracker. Broker integration for real-money execution is on the roadmap — for now it surfaces the trades and you place them.
What brokers will be supported?
Initial broker integrations are TBD based on beta feedback. Tell us which one you use when you join the waitlist.
Where does the price data come from?
Yahoo Finance v8 chart endpoints for quotes and historical bars. Free, fast, and accurate enough for the wheel's daily cadence.
How much capital do I need?
Enough to cover one cash-secured put on whatever ticker you're starting with — typically $2K–$50K depending on the stock. The wheel scales with your capital, not the other way around.
Is this financial advice?
No. It's a tool. The wheel has risks — including being assigned stock that keeps falling. Know the strategy before you run it.
When does it launch?
Private beta is live now. Public TestFlight and App Store release are planned for later this year. Join the waitlist to be notified.