The Wheel Strategy Dashboard

A Complete Guide

From one learner to another.
Take your time with this. Bookmark it.
Come back to it when a number on your screen confuses you.
There is no rush.

Cash-Secured Put & Covered Call Strategy
for Nifty 50 Stocks

Version 1.0

What Are We Actually Doing Here?
Understanding the Stock — Fundamentals
Reading the Price Action — Technicals
The Options Data — The Heart of the Strategy
The Scoring System — How It All Ranks
The Trade Lifecycle — From First Put to Full Wheel
The Habits That Make This Work
Risk Management — The Rules That Protect You
A Final Word
Quick Reference Card

Part 1: What Are We Actually Doing Here?

Before a single number on this dashboard makes sense, you need to understand the game we are playing. So let us start there.

The Core Idea

You know how insurance companies make money? They collect premiums from people who are afraid something bad might happen. Most of the time, nothing happens. The insurance company keeps the premium. Occasionally something does happen, and they pay out—but because they chose their risks carefully, they come out ahead over time.

That is exactly what we are doing with stocks.

We are selling insurance to other people in the stock market. Specifically, we sell put options—which are insurance contracts that say: “If this stock falls below a certain price, I promise to buy it from you at that price.”

For making that promise, we get paid a premium upfront. That premium is ours to keep no matter what happens.

Now here is the beautiful part—and this is what separates this from gambling:

The Key Principle

We only sell insurance on stocks we would genuinely want to own. If the stock falls and we are forced to buy it, we are not devastated. We just bought a good company at a discount. And then we start selling insurance on the upside (covered calls), collecting more premium while we wait for it to recover.

This cycle—sell puts → get assigned → sell calls → stock gets called away → sell puts again—is called The Wheel Strategy.

Why This Works

Three structural edges are working in your favor:

Time decay is constant. Options lose value every single day. When you sell them, that decay works for you, not against you. You are on the side of the house.
Implied volatility is usually overstated. The market consistently prices in more fear than what actually materializes. Selling options captures this “fear premium.”
You get paid to place limit orders. Think about it—if you wanted to buy Reliance at ₹1,200 anyway, selling a ₹1,200 put means someone pays you to wait for that price. If it never gets there, you made free money. If it does, you bought what you wanted at a price you were happy with, minus the premium you already pocketed.

What This Dashboard Does

This dashboard answers three questions every single day:

The Three Questions

Which stocks should I sell puts on? — Scanner + Scoring
Is now the right time to sell? — Timing Signals
How are my existing positions doing? — Trade Tracker

Every number you see exists to help answer one of these three questions. Let us go through them all.

Part 2: Understanding the Stock — Fundamentals

These answer: “Is this a company I would be comfortable owning if things go wrong?”

This is your safety net. The whole strategy breaks down if you sell puts on garbage companies that keep falling. Fundamentals tell you whether the company underneath the stock is healthy.

Price

What it is: The current market price of one share.

Why it matters here: This is your anchor. Every other number—strike distance, yield percentage, margin—is calculated relative to this. It is also what determines whether your put is in danger of assignment. If you sold a put at strike ₹1,200 and the price is ₹1,350, you are comfortable. If it is ₹1,180, you need to pay attention.

P/E Ratio (Price to Earnings)

What it is: How many years of current earnings you are paying for when you buy the stock. A P/E of 20 means the stock is priced at 20 times its annual earnings.

P/E = Market Price per Share / Earnings per Share

Why it matters here: We are selling insurance on these stocks. If we get assigned (forced to buy), we want to own something that is reasonably priced. A stock with a P/E of 15 has more room to absorb bad news than one trading at 80x earnings. The expensive stock can fall much further.

P/E Range	Reading	Implication for CSP
Below 15	Cheap	Low downside risk, market is not excited
15–25	Fair	Most solid large-caps live here
25–40	Pricey	Growth expectations baked in, more risk
Above 50	Expensive	If the story breaks, the fall will be steep

A Nuance

P/E varies dramatically by sector. A bank at 20 P/E is expensive. An IT company at 25 P/E might be fair. The dashboard scores it as a general heuristic, but you should compare within sectors.

P/B Ratio (Price to Book)

What it is: How much you are paying relative to the company net asset value (what it owns minus what it owes). A P/B of 3 means you are paying 3x the book value.

P/B = Market Price per Share / Book Value per Share

Why it matters here: Book value is a floor of sorts. If a company trades at 1x book, in theory you are buying its assets at cost. For our strategy, lower P/B means a firmer floor under the stock—less distance to fall in a worst case.

Where it is most useful: Banks, NBFCs, and capital-heavy businesses where book value is meaningful. For IT and pharma, book value is less relevant because their value is in intangibles (talent, patents, brands).

ROE (Return on Equity)

What it is: How much profit the company generates with the money shareholders have invested. An ROE of 20% means for every ₹100 of shareholder equity, the company earns ₹20.

ROE = (Net Income / Shareholder Equity) × 100

Why it matters here: This is probably the single best number to judge business quality. High ROE means the company is good at making money. When we get assigned on a high-ROE stock, we own a business that generates wealth—it is likely to recover and grow.

ROE	Reading
Above 20%	Excellent business. Strong competitive advantage.
15–20%	Good. Solid operator.
10–15%	Average. Not bad, not special.
Below 10%	Mediocre. Company is not doing much with your capital.

The Compound Insight

High ROE + low debt = a genuinely good business. High ROE + high debt = the ROE is artificially inflated by leverage. The dashboard tracks both.

Debt/Equity Ratio

What it is: How much debt the company has relative to shareholder equity. A D/E of 0.5 means for every ₹100 of equity, there is ₹50 of debt.

D/E = Total Debt / Shareholder Equity

Why it matters here: Debt is what kills companies during downturns. When we sell puts, we are betting a stock will not crash. Heavily indebted companies are more likely to crash during tight credit conditions, bad quarters, or sector downturns. Debt magnifies both gains and losses.

D/E Range	Reading
Below 0.5	Conservative. Can weather storms.
0.5–1.0	Moderate. Reasonable use of leverage.
Above 2.0	High. One bad quarter and equity gets destroyed.

Exception for Financials

Banks and NBFCs naturally have high D/E because they borrow to lend. For financials, look at NPA ratios and capital adequacy instead (which we do not track here—that is a judgment call you make manually).

Dividend Yield

What it is: Annual dividend as a percentage of current stock price. If a stock costs ₹100 and pays ₹2 in dividends per year, dividend yield is 2%.

Dividend Yield = (Annual Dividend per Share / Current Price) × 100

Why it matters here: Two reasons. First, a company that pays regular dividends is usually stable and profitable—good characteristics for our strategy. Second, if we get assigned and hold the stock, we collect dividends on top of the covered call premiums we will be selling. It is another income stream layered into the wheel.

Promoter Holding

What it is: What percentage of the company is owned by its founders/promoters.

Why it matters here: Promoters have the most information about the company and the most at stake. High promoter holding (above 50%) signals that the people who know the company best believe in it enough to keep their wealth tied up in it. Low promoter holding, or worse, declining promoter holding, can signal trouble.

Manual Check

If promoters are pledging shares (using them as collateral for loans), that is a red flag the dashboard does not currently catch—something to check manually for smaller names.

Market Cap

What it is: Total market value of all the company shares.

Market Cap = Price × Total Shares Outstanding

Why it matters here: We only scan Nifty 50 stocks, so everything here is large-cap (above ₹50,000 crores typically). This is deliberate. Large-cap stocks have:

Better liquidity (important for options)
More analyst coverage (fewer unpleasant surprises)
More resilient during crashes (they fall less and recover faster)
Tighter bid-ask spreads on options

Sector

What it is: The industry the company operates in.

Why it matters here: Diversification. If your top 5 CSP candidates are all banking stocks, you have concentrated sector risk. One RBI policy change could hit all five simultaneously. The dashboard shows sector breakdowns so you can consciously spread your risk.

Practical Tip

Try to have active positions in at least 3–4 different sectors. The sector view on the scanner page helps with this.

Part 3: Reading the Price Action — Technicals

These answer: “Is the stock trending up, down, or sideways? Am I selling into a falling knife?”

Fundamentals tell you what to sell puts on. Technicals tell you when the price action is favorable.

52-Week High and Distance From It

What it is: The highest price the stock touched in the past year, and how far the current price is from that peak.

Distance = ((Current Price - 52-Week High) / 52-Week High) × 100

Why it matters here: This gives you context about the stock recent journey.

Distance	Interpretation
Within 5%	Strong. Uptrend intact. Puts are relatively safe. Premiums may be lower.
10–20% below	Pulled back. Often the sweet spot—premiums are juicier but no freefall.
More than 30%	Something is wrong, or the whole market is crashing. Fat premiums but real risk.

SMA 20 and SMA 50 (Simple Moving Averages)

What they are: The average closing price over the past 20 and 50 trading days, respectively.

SMA(n) = (1/n) × Sum of last n closing prices

Why they matter here: These are trend filters. They smooth out daily noise and show you the direction.

Price above both SMAs → Uptrend. The stock is healthy. Good environment for CSPs.
Price below SMA 20 but above SMA 50 → Short-term weakness in a medium-term uptrend. Could be a pullback (opportunity) or the start of a reversal (caution).
Price below both → Downtrend. The stock is weak. Selling puts here is riskier. You had better have very strong fundamental conviction.

The Intuition

Moving averages are like the stock mood. SMA 20 is its current mood. SMA 50 is its general temperament. You want to sell insurance on stocks that are generally in a good mood.

RSI (Relative Strength Index)

What it is: A momentum oscillator that measures the speed and magnitude of recent price changes, expressed as a number from 0 to 100.

RSI = 100 - (100 / (1 + RS)) where RS = Average Gain / Average Loss

Why it matters here: RSI tells you if a stock has been bought too aggressively (overbought) or sold too aggressively (oversold).

RSI	State	Implication for CSP
Below 30	Oversold	Worst selling may be over, premiums elevated. If assigned, buying near a bottom.
40–60	Neutral	Stock moving normally. Safe territory.
Above 70	Overbought	Stock has run up. Might pull back. Low premiums.
Above 80	Very overbought	Pullback likely. Avoid new CSPs.

The Key Insight for CSP Sellers

An RSI of 35 on a fundamentally strong stock is often the best entry. Everyone is scared, premiums are fat, and you are being paid handsomely to buy a quality stock at a lower price.

Part 4: The Options Data — The Heart of the Strategy

These answer: “How much will I get paid, and what is the risk?”

This is where the actual money is made. Everything above is context. This section is the trade itself.

Strike Price

What it is: The price at which you are promising to buy the stock if the option gets exercised. When you sell a put with a strike of ₹1,200, you are saying: “I will buy this stock at ₹1,200 per share if it falls to that level.”

Why it matters: The strike determines both your income and your risk.

Strike closer to CMP → Higher premium (more income) but higher chance of assignment. More aggressive.
Strike further from CMP → Lower premium but more safety margin. More conservative.

How to Think About It

Ask yourself: “At this price, would I be happy to own this stock for the next 6–12 months?” If the answer is yes with conviction, the strike is right. If you feel uneasy, go lower.

Distance from CMP

What it is: How far below the current price your strike is, expressed as a percentage.

Distance = ((Current Price - Strike) / Current Price) × 100

Distance	Stance	Guidance
2–5%	Aggressive	High yield but thin cushion.
5–10%	Balanced	Good premium-to-risk ratio. The sweet spot.
10–15%	Conservative	Lower yield but significant protection.

Premium (LTP)

What it is: The price of the option—what someone is paying you to take on the obligation. LTP stands for Last Traded Price.

Why it matters: This is your income. When you sell one put contract, you receive Premium × Lot Size in cash, immediately. That money is yours no matter what happens.

Bid and Ask: The bid is what buyers are willing to pay. The ask is what sellers want. The LTP might be between them. When you actually sell, you will likely get closer to the bid. The dashboard shows both so you can estimate realistic fills.

Monthly Yield

What it is: Your return on the margin/capital blocked, expressed as a monthly percentage.

Monthly Yield = (Premium × Lot Size / Margin Required) × 100

Why it matters: This is the number that makes or breaks the strategy. It normalizes everything—different stocks, different lot sizes, different margins—into one comparable number.

Yield	Reading
Above 3%	Excellent. The market is frightened and paying generously.
2–3%	Good. Bread-and-butter territory. Most profitable trades live here.
1–2%	Acceptable. You need conviction in the stock.
Below 1%	Usually not worth the capital lock-up.

The Compounding Math

If you average 2% monthly yield and reinvest the premiums, that is roughly 27% annually (compounded). At 2.5%, it is roughly 34%. This does not sound flashy compared to “this stock doubled,” but it is consistent, and consistency over years is how real wealth is built.

Margin Estimate

What it is: How much capital your broker will block as collateral for the put you sold. This is the “cash-secured” part of Cash-Secured Put.

Why it matters: This is your capital deployed. It determines your yield and your position sizing.

How it is calculated: The dashboard estimates margin as 20% of (Strike × Lot Size). Actual margins from your broker (fetched from Kite when logged in) may differ—SEBI SPAN + exposure margins are dynamic.

Position Sizing Rule

Never deploy more than 20–25% of your total capital on a single stock CSP. If you have ₹10L, no single position should require more than ₹2–2.5L margin. This ensures one bad stock does not destroy your portfolio.

Lot Size

What it is: The minimum number of shares per option contract. You can only sell in multiples of the lot size.

Why it matters: Lot size determines the minimum capital required. Reliance has a lot size of 250—at ₹1,300, one lot represents ₹3.25L of stock. Your margin for one lot might be ₹65,000+. Stocks with larger lot sizes or higher prices need more capital.

Days to Expiry (DTE)

What it is: Number of calendar days until the option contract expires.

Why it matters more than you think: Options do not lose value linearly. Time decay (theta) accelerates as expiry approaches. This creates a sweet spot:

DTE	Interpretation
30–45	The golden zone. Steepest theta curve. Enough recovery time. Best entry.
20–30	Acceptable. Theta accelerating but gamma risk increasing.
Below 15	High risk for new positions. Gamma amplifies moves.
Above 45	Capital tied up longer. Theta decay is slower.

Professional Practice

Professional option sellers almost always enter between 30–45 DTE and close at 50% profit or 21 DTE, whichever comes first. The dashboard DTE score reflects this principle.

Implied Volatility (IV)

What it is: The market forecast of how much the stock will move over the life of the option, expressed as an annualized percentage.

This is the single most important number for option sellers.
Read this section twice.

IV of 25% means the market expects the stock could move about 25% over the next year (or roughly 7.2% in a month). Higher IV → more expected movement → higher option prices → more premium for you.

Where does IV come from in the dashboard?

When Kite is connected, the dashboard takes the actual market price of each put option and reverse-engineers what volatility assumption would produce that price using the Black-Scholes formula. This is called “solving for IV.” The market price embeds the collective fear/greed of every participant—IV extracts that sentiment into a single number.

The Black-Scholes put price is:

P = K · e^-rT · N(-d₂) - S · N(-d₁)

d₁ = [ln(S/K) + (r + ½σ²)T] / (σ√T)
d₂ = d₁ - σ√T

Given the market price P, the dashboard numerically solves for σ (IV).

When Kite is not connected, the dashboard estimates IV from historical price movements (HV) and scales it up by roughly 18% (because IV is typically higher than HV—the “fear premium”).

IV Range	Reading
15–25%	Low IV. Market is calm. Thin premiums. Not the best time to sell.
25–40%	Moderate. Good premiums without excessive risk. The sweet spot.
40–60%	High. Something is spooking the market. Fat premiums but real risk.
Above 60%	Very high. Enormous premiums but violent moves possible.

The Greeks — Your Risk Dashboard

The Greeks are sensitivity measures. They tell you how your option position will behave as things change.

Delta (Δ)

What it is: How much the option price changes for a ₹1 move in the stock. A put delta of -0.20 means if the stock falls ₹1, the put becomes ₹0.20 more expensive (bad for you as the seller).

Delta also roughly approximates the probability of assignment:

\|Δ\| Range	Stance	Meaning
0.10–0.20	Conservative	10–20% probability of assignment
0.20–0.35	Balanced	20–35% probability
Beyond 0.35	Aggressive	>35% chance of assignment

Theta (Θ)

What it is: How much the option price decreases per day just from the passage of time.

Why it matters: Theta is your daily paycheck. When you sell a put with theta of -₹2.50, that means the option is losing ₹2.50 in value every single day. Since you sold it, that ₹2.50 is flowing into your pocket.

Gamma (Γ)

What it is: How fast delta changes as the stock moves. High gamma means delta is unstable—a small move in the stock can dramatically change your risk profile.

Why it matters: Gamma is highest for ATM options near expiry. This is why selling puts in the last week before expiry is dangerous—if the stock moves against you, your loss accelerates rapidly because gamma amplifies the move.

Practical Rule

Keep gamma in check by selling 30–45 DTE and choosing strikes with comfortable distance from CMP.

Vega (V)

What it is: How much the option price changes for a 1% change in IV.

Why it matters: After you sell a put, if IV increases (market gets scared), the option becomes more expensive—bad for you (you would lose money if you tried to close). If IV decreases (market calms), the option gets cheaper—good for you.

The Connection

This is why selling when IV is HIGH is so important. If you sell at high IV, the subsequent IV decrease (mean reversion) works as a tailwind—your position profits from both time decay (theta) AND IV contraction (vega).

Open Interest (OI)

What it is: The total number of open contracts at a particular strike price.

Why it matters: High OI means lots of market participants are positioned at this strike. This has two implications:

Liquidity → High OI = tighter bid-ask spread = better execution for you. Avoid strikes with very low OI.
Magnet effect → Strikes with very high OI can act as magnets. Market makers have hedging incentives to keep the price near max-pain (the price at which the maximum number of options expire worthless).

Put-Call Ratio (PCR)

What it is: The ratio of put OI to call OI.

PCR = Put Open Interest / Call Open Interest

PCR	Interpretation
> 1.0	More puts than calls. Actually bullish—heavy put OI creates support cushion.
0.8–1.2	Normal. Balanced sentiment.
< 0.7	More calls than puts. Complacency or speculative upside bets.

Part 5: The Scoring System — How It All Ranks

This answers: “Among all 50 stocks, which are the best candidates right now?”

Three Pillars of Scoring

Each stock gets three sub-scores on a 0–100 scale:

Score Composition

Total Score = (Fundamental × 0.35) + (Technical × 0.35) + (Option × 0.30)

Fundamental Score (35% weight): Starting at 50, adjusted by P/E, ROE, D/E, dividend yield, and promoter holding. Ensures you are only selling puts on quality businesses.
Technical Score (35% weight): Starting at 50, adjusted by distance from 52-week high, RSI, and position relative to SMAs. Ensures the stock price action is favorable.
Option Score (30% weight): Starting at 50, adjusted by monthly yield, IV level, and margin requirement. Ensures the trade economics make sense.

Grade Scale

Grade	Score	What It Means
A+	85+	Exceptional candidate. Strong on all three pillars.
A	75–85	Very good. Minor weakness in one area at most.
B+	65–75	Good. Solid candidate with some imperfections.
B	55–65	Average. Tradeable but not exciting.
C	45–55	Below average. At least one pillar is weak.
D	35–45	Poor. Multiple weaknesses. Strong conviction required.
F	Below 35	Avoid. The stock fails too many criteria.

Practical Approach

Focus on A+ through B+ grades. Life is too short and capital too precious to sell puts on C-grade stocks when there are A-grade alternatives available.

Part 6: The Trade Lifecycle — From First Put to Full Wheel

Now that you understand every number, here is how they come together in practice.

Stage 1: Scanning and Selection

Run a full scan (all 50 stocks)
Sort by grade or total score
Filter for your capital constraints (check margin estimates)
Ensure sector diversification
Click into your top 3–5 candidates

Stage 2: Timing and Entry

On each stock detail page:

Check the Timing Score. Is it “Good” or better?
Check IV Rank. Is it above 30%? Ideally above 50%?
Check RSI. Is it below 60?
Check for earnings. Are they more than 21 days away?
Look at the put chain. Find a strike with 5–10% distance, good yield (>1.5%), and |δ| around 0.15–0.25.

If most signals align, enter the trade. If signals are mixed, reduce your position size (fewer lots) or wait.

Stage 3: Active Management

Once you have sold a put:

Track it on the Trades page
Monitor the stock price relative to your strike
At 50% profit (option has lost half its value), consider closing early. You have captured the easy money—the remaining 50% takes the same time but with more gamma risk.
If the stock moves sharply against you, do not panic. Check fundamentals. If nothing has changed, the put might be fine—you might just be experiencing temporary volatility.

Stage 4: Expiry Outcomes

Outcome A: Stock stays above strike (most common)

Option expires worthless. You keep 100% of the premium. Go back to Stage 1 and sell another put.

Outcome B: Stock falls below strike (assignment)

You now own the stock at your strike price, but your effective cost is Strike - Premium. The dashboard detects this and suggests confirming assignment. Your CSP trade status changes to “assigned.”

Stage 5: The Wheel Turns — Covered Calls

Now that you own the stock:

Go to the Covered Call section (available on the stock detail page and trade page)
The dashboard fetches call option chains from Kite
Sell a call at or above your cost basis
This means: “I will sell my shares at this price if the stock rises”
You collect more premium while you wait

Stage 6: Stock Gets Called Away

If the stock rises above your call strike at expiry, your shares are sold. You have now completed one full wheel rotation:

1. Sell Put
Collect premium → 2. Get Assigned
Buy stock at discount → 3. Sell Calls
Collect more premium → 4. Called Away
Sell stock at profit → Back to Step 1

Total Wheel Profit

Total Profit = Put Premium + Sum of Call Premiums + Dividends + (Call Strike - Put Strike)

Now go back to Stage 1. The wheel turns again.

Part 7: The Habits That Make This Work

Daily (2 minutes)

Glance at the dashboard. Check active positions.
Are any puts approaching their strike? If yes, review the stock.

Weekly (15 minutes)

Run a full scan.
Review timing signals on your top watchlist.
Any new A-grade opportunities?
Any existing positions at 50% profit to close?

Monthly (30 minutes)

Review your trade journal (export CSV).
What was your average yield this month?
Did any positions get assigned? What happened?
Are you diversified across sectors?

Part 8: Risk Management — The Rules That Protect You

No amount of analysis helps if you ignore these:

The Six Rules

Never risk more than 20–25% of capital on one stock. If that stock gaps down 20% overnight, you lose 4–5% of portfolio. Painful but survivable.
Always have cash reserves. Do not deploy 100% of your capital. Keep 30–40% free. When the market crashes, that is when premiums are fattest—you want capital available for the best opportunities.
Do not fight the trend. If a stock is in a genuine downtrend (below all SMAs, breaking supports), the premium is not worth the risk. Wait for stabilization.
Close losers when your thesis breaks. If you sold a put on a stock because of strong fundamentals, and then the company reports fraud/terrible earnings/regulatory action, close the position at a loss. Do not hope. The original thesis is gone.
Earnings are landmines. Either be out before earnings or consciously accept the event risk with smaller position sizes.
Track everything. The dashboard trade tracker exists for a reason. Review your wins and losses. Pattern recognition improves with data.

Part 9: A Final Word

This strategy is not about getting rich quickly. It is about building a systematic, repeatable income stream that compounds over years. Some months will be boring—you will collect small premiums on stable stocks and wonder if it is worth the effort. Some months will be exciting—a market correction will hand you fat premiums and you will enter positions that yield 3–4% in 30 days.

The discipline is in treating both months the same way. Follow the data. Follow the process. Let the numbers on this dashboard guide you, not your emotions.

Every professional option seller will tell you: the first year is about learning. The second year is about consistency. The third year is when compounding becomes visible. Be patient with yourself.

The dashboard will get smarter with every scan you run. Your IV history will deepen. Your intuition for what makes a good trade will sharpen. And one day you will glance at a stock timing signals and know—without needing to think about it—whether it is time to sell or wait.

That is the goal. Not to predict the market. Just to consistently be on the right side of probability, collect premium, and let time do the heavy lifting.

Good luck. Trade safe. Be patient.

Appendix: Quick Reference Card

The Ideal CSP Setup

Parameter	Ideal Range	Why
Grade	A+ to B+	Quality filter
IV Rank	> 50%	Rich premiums
RSI	30–60	Neutral to oversold
DTE	30–45 days	Optimal theta
Strike Distance	5–10%	Balanced risk/reward
\|Δ\|	0.15–0.25	15–25% assignment probability
Monthly Yield	> 1.5%	Minimum return threshold
Earnings	> 21 days away	No event risk
Timing Score	> 55	Multiple signals aligned

Data Sources

Data	Source	Availability
Price, fundamentals, technicals	Yahoo Finance	Always available
Live option chain, Greeks, IV	Kite API	When logged in
ATM IV, IV Skew, OI	Kite option chain	When logged in
India VIX	Kite (NSE:INDIA VIX)	When logged in
IV Rank (real)	Stored Kite IV history	After 10+ daily scans
IV Rank (proxy)	Historical volatility	Immediate (fallback)
Earnings date	Yahoo Finance calendar	When available

Key Formulas

Formula	Expression	Purpose
Monthly Yield	(P × L / M) × 100	Income measurement
Cost Basis	K - P	Assignment price
IV Rank	(σ_current - σ_low) / (σ_high - σ_low) × 100	Timing
Safety Margin	(S - K) / S × 100	Risk measurement

where P = premium, L = lot size, M = margin, K = strike, S = spot price, σ = implied volatility.