Free options trading journal template, and what to do with it
Download the free options journal, write one row per trade with the reason you took it, and the sheet works out your results. The best line on it compares the trades where you followed your rules with the ones where you didn't.
Get the file
Download the options trading journal (.xlsx). It opens in Excel, Google Sheets and Numbers. No sign-up, no macros.
It has three tabs: How to use, Journal and Summary. You type on the Journal tab only. Blue cells are yours. Grey cells fill in by themselves.
It's part of our free trading templates. It works for any option trade, not just one strategy.
What you log for each trade
One row per trade. There's room for 100.
| Column | What goes in it |
|---|---|
| Date opened, Ticker | When and what |
| Strategy | Cash-secured put, Covered call, Long call, Long put or Other |
| Strike, Expiry | The option you picked |
| Paper or live | Practice or real money |
| Sold or bought | Sold if you took in cash to open, Bought if you paid |
| Contracts | 1 contract = 100 shares |
| Open price per share | What you sold or bought it for, like 1.00 |
| Close price per share | What you closed it at. 0 if it expired, was assigned or called away |
| What happened | Open, Expired, Closed early, Assigned or Called away |
| Why I took it | One sentence, written before you place the trade |
| Followed my rules? | Yes or No |
| Notes | What you learned |
The "Why I took it" column does the most work. If you can't write the sentence, that's your answer: skip the trade.
Delete the four "Example - delete me" rows first.
What the sheet works out
Two columns fill in once a trade ends:
- Result $: if you sold, (open price − close price) × contracts × 100. If you bought, (close price − open price) × contracts × 100. It stays blank while the trade is Open.
- Win or loss: Win above zero, Loss below, Even at zero.
The Summary tab then adds it all up: closed and open trades, wins, losses, win rate, total result, average result per closed trade, average win, average loss, how often you followed your rules, your result when you followed them and when you broke them, and paper results kept apart from live ones.
One thing to know. If you get assigned or called away, the journal counts the option side only: you keep the premium. What the shares do next goes in your notes, or in the wheel tracker.
Four trades, read the honest way (hypothetical)
The file ships with four example rows. Here they are, in plain words.
| Trade | What happened | Followed rules? | Result |
|---|---|---|---|
| Sold a put, 1 contract at 1.00 | Expired | Yes | +$100 |
| Sold a covered call at 0.50 | Bought back at 0.20 | Yes | +$30 |
| Sold 2 puts at 1.00, earnings inside | Bought back at 3.00 | No | −$400 |
| Bought a call at 2.00 to chase a jump | Expired worthless | No | −$200 |
The Summary tab on those rows:
| Line | Value |
|---|---|
| Win rate | 50% |
| Total result | −$470 |
| Average win | $65 |
| Average loss | −$300 |
| Result when I followed my rules | +$130 |
| Result when I broke my rules | −$600 |
Look at the last two lines. The trades that followed the rules came out ahead. Two rule breaks wiped that out and then some. A 50% win rate tells you almost nothing here. The average loss being bigger than four average wins tells you a lot.
The weekly review: five questions to ask the Summary tab
The sheet gives you numbers. You still have to ask them something. Once a week, take ten minutes:
- Is my average loss bigger than my average win? If yes, a high win rate can still lose money. The expectancy calculator puts the two together.
- What did my rule breaks cost? Compare the two "result when I…" lines.
- Which trades did I mark No? Read their "Why I took it" sentences. Most rule breaks share one reason.
- Are my live results worse than paper? If so, nerves are moving your hands. Trade smaller or go back to paper.
- What one rule do I change? Write it in your trading plan template, on a calm day.
For more prompts, see journaling prompts for traders. After a big loss, read how to read your options journal after a loss.
Make it yours
- Add a column to the right of Notes if you want to track something more, like the Delta you sold at. The formulas won't mind.
- Use one row per trade, not per leg. For a spread, log the net price you sold or bought it for.
- Want to note how long each trade had left? The days to expiration calculator counts the days for you.
- Trade stocks too? Our plain CSV trading journal covers stocks, forex and crypto. How to keep a trading journal explains its columns.
Questions
Is this options journal really free?
Yes. It's a plain .xlsx file. No email, no sign-up, no macros. Download it and it's yours to change.
How do I log a trade that got assigned?
Type 0 as the close price and pick Assigned. The journal counts the premium you kept. Track what the shares do afterward in your notes or the wheel tracker.
Why does the result stay blank?
The trade is still marked Open, or the ticker is empty. Pick what happened once it ends and the result fills in.
Should I log paper trades too?
Yes. Mark them Paper. The Summary tab keeps paper and live results apart, so you can see if real money changes how you trade.
Follow along