Free calculators by Spoke. Get a daily AI brief on every open wheel position with the iOS app.

Free Options Calculators

Eight calculators for wheel-strategy traders. No signup, no ads, no email capture. If you like them, the iOS app will track the trades you actually take.

New to the wheel?Learn about options →Interactive scenarios and plain-English articles on the wheel strategy.Looking for ideas?AI Market Screener →Cash-secured put candidates ranked twice per trading day, with an AI note on each pick.

Covered Call CalculatorStatic return, if-called return, downside breakeven, annualized yield. The math wheel traders run on every call they sell.Cash-Secured Put CalculatorMax profit, breakeven, cash secured, annualized yield on capital. The one you probably came here for.Wheel Strategy CalculatorModel both legs of the wheel at once. See the yield if the put expires worthless and the full-cycle return if the shares get called away.Assignment Probability CalculatorBlack-Scholes probability the option finishes in the money, plus the probability it touches your strike before expiration.Roll AnalyzerNet credit or debit on the roll, DTE change, new breakeven. Answers whether the roll is worth doing.Annualized Yield CalculatorAny premium, any holding period, one annualized percentage. Presets do the capital-at-risk math for CSPs and CCs.P/L DiagramThe hockey-stick chart, live. Payoff curve, breakeven, max loss for any single-leg option at expiration.Greeks CalculatorDelta, gamma, theta, and vega for a specific contract. Includes a theta-per-day estimator for the position you're considering.

Educational tools. Not investment advice. Options trading has real risk of loss. Verify prices with your broker before trading.