Earnings Disclaimer

WheelYield.com provides options calculators, educational articles, and analytical tools. The results generated by our tools — including annualized yields, projected returns, premium income estimates, breakeven prices, and probability calculations — are based on theoretical models and current market data at the time of calculation.

These projections are not guarantees of actual trading results. Market conditions change constantly. Implied volatility, bid-ask spreads, liquidity, slippage, commissions, assignment timing, dividend risk, and broader market movements all affect real-world outcomes in ways that cannot be perfectly modeled.

Hypothetical performance results have many inherent limitations, some of which are described below:

• No hypothetical record can fully account for the impact of financial risk in actual trading. The ability to withstand losses and maintain a trading program despite losses is a material point that can adversely affect actual results.
• Hypothetical trading results do not involve financial risk. No hypothetical trading record can account for the impact of financial risk in actual trading.
• There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in a hypothetical performance record, all of which can adversely affect actual trading results.
• Hypothetical results often show better performance than actual results because they benefit from hindsight and do not include execution costs, slippage, or the psychological pressures of real trading.

Our calculators use the Black-Scholes model for option pricing and standard financial formulas for yield calculations. These models assume:

• Constant implied volatility (which changes in real markets)
• European-style exercise (most US equity options are American-style)
• No dividends during the option period (unless specifically modeled)
• Frictionless markets with no bid-ask spread impact
• Continuous trading and constant risk-free rates

Real-world results will differ from calculator projections, sometimes significantly. Use these tools as a starting point for analysis, not as a prediction of outcomes.

When we use specific ticker symbols, prices, or premiums in examples (such as "selling a $235 put on AAPL for $3.50 premium"), these are illustrative examples only. They are not recommendations to trade those specific stocks, strikes, or strategies. Market conditions at the time you read an example will differ from the conditions when it was written.

Past performance of any strategy, stock, or options trade is not indicative of future results. The options market is inherently uncertain, and historical returns — whether real or hypothetical — should never be used as the sole basis for trading decisions.

The founder of WheelYield.com has publicly stated that he grew a trading account from approximately $6,000 to $231,000 over approximately two and a half years using the wheel strategy (selling cash-secured puts and covered calls).

Testimonials, success stories, and performance figures referenced anywhere on WheelYield.com are individual experiences. They are not intended to represent or guarantee that anyone will achieve the same or similar results.

Your results will be influenced by many factors outside our control, including your financial knowledge, experience, available capital, risk management, the specific securities you trade, market volatility, and broader economic conditions.

Do not trade with money you cannot afford to lose. Do not rely on anyone else's results — including the founder's — as a predictor of your own outcomes.

You are solely responsible for your own investment decisions. Before trading options, you should:

• Read Characteristics and Risks of Standardized Options
• Understand the specific risks of the strategies you intend to use
• Consult with a qualified financial advisor if needed
• Only trade with capital you can afford to lose
• Paper trade or demo trade before committing real capital

If you have questions about this disclaimer, contact us at legal@wheelyield.com.