Wheel Strategy

Wheel Strategy runs the classic wheel on Deribit USDC-settled BTC options from your own Protected Server. On the cash side it sells cash-secured puts; if a put is assigned it holds the BTC and sells covered calls until the coins are called away — then the cycle repeats.

You set a handful of honest knobs: target delta, an expiry window, size per cycle and a minimum premium worth your risk. Hard guardrails — a maximum BTC position and a maximum realized loss — halt the wheel and wait for you instead of digging deeper.

Before trusting a configuration with real orders, replay it: backtests run on the platform's own Deribit history, prefilled with your live settings. Every run is listed by its window, parameter fingerprint and outcome, and a finished run shows exactly which parameters differ from your live wheel — apply them in one tap.

The dashboard shows net realized P&L, which side of the cycle the strategy is on, the live or next contract, guardrail headroom and a full decision timeline. Built mobile-first, in a warm amber-on-dark theme, with the venue credential managed by the platform — no API keys pasted into the app.