How to Roll a Trade
Rolling means closing the existing options contract and immediately opening a new one — usually at a different strike, expiration, or both. Premium Tracker keeps the two linked so your wheel chain and P&L stay accurate.
The trade must still be in OPEN status. You cannot roll a trade that is already closed, expired, or assigned.
Have the new strike, new expiration date, buyback cost, new premium, and roll date ready.
Confirm you are rolling the correct trade. If the newest roll needs correction, open its detail panel and use Undo when that action is available.
Open the trade you want to roll
Navigate to it and open the details panel.
- Go to the Trades page.
- Click the row for the trade you want to roll.
- The trade detail dialog will appear — verify the ticker, strike, and expiration.
Click Roll
This opens the dedicated roll form.
- Click the Roll button in the action area of the detail dialog.
- A new form will appear showing both the original and the new contract fields.
Tip: On smaller screens, you may need to scroll down to see the new contract fields.
Enter the new contract details
Tell the app what you traded into.
- New strike price — the strike of the replacement contract.
- New expiration date — when the new contract expires.
- New premium — the premium per share you received on the new contract.
- Buyback cost — what you paid per share to close the original contract.
- Roll date — the date the roll happened.
- Notes — optional, but helpful for remembering why you rolled.
Tip: The buyback cost is the amount you paid to close the old contract, not the new premium.
Review original vs. new
The form shows both contracts side by side so you can verify the change.
- Check that the original details match what you expect.
- Verify the new strike and expiration match your actual broker fills.
Confirm the roll
Save the roll and the app will update both positions.
- Click the Roll button to confirm.
- The original trade will change to ROLLED status.
- A new OPEN position will appear in your trades list.
- The roll chain is visible in the trade detail and on the Wheels page.
After rolling, check the Wheels page to confirm the chain looks correct.
If you entered the wrong values, open the new trade and use Edit to correct it quickly.