Strategies / The wheel

Open-source The wheel bots

A loop of selling cash-secured puts, taking assignment if it happens, then selling covered calls against the shares until they are called away. Income comes from premium, while the risk is owning shares through a drawdown.

3 listed repos, ordered by grade. A grade is not a measure of whether the strategy or the bot makes money.

• A 90/100 Reviewed

  brndnmtthws/thetagang

  ThetaGang is an IBKR bot for collecting money

  Bot The wheelCovered calls Interactive Brokers AGPL-3.0 Some risk controls Paper mode Last commit 2026-10-16
• B 84/100 Reviewed

  Alexanderk30/OpenclawDerivativeTrading

  Multi-agent options trading system - 8 coordinated AI agents executing Iron Condor, Credit Spread, and Wheel strategies via Alpaca with ML signal validation and risk management

  Bot The wheelIron condorCredit spreads AlpacaInteractive Brokers MIT plus an appended disclaimer Risk limits + kill switch Paper mode Last commit 2026-04-15
• B 72/100 Reviewed

  crux1s/TastyMechanics

  TastyMechanics - A Streamlit dashboard for TastyTrade options traders. Upload your transaction history CSV and get a full breakdown of wheel campaigns, option roll chains, premium selling performance, and realized P/L - built for how theta gang traders actually trade.

  Tool (no orders) The wheel tastytrade GPL-3.0 Risk n/a Paper n/a Last commit 2026-08-28