Self Operating Brokerage sizes Wheel Paycheck with the cash-secured amount by default. For a cash-secured put, that is roughly the full share cost if you get assigned: strike price × 100 per contract.

Your brokerage often records a smaller number because it is using the margin requirement for that same put, not the full cash-secured amount. Those are different measurements of the same trade, so capital used / allocation in SOB can look higher than what the broker shows as buying power used.

That gap is intentional. Cash-secured sizing keeps assignment pre-funded without relying on a margin loan.

A cash-secured put might require about $10,000 of buying power in SOB (strike × 100), while the broker only requires about $2,000 of margin for the same position. SOB is counting the full cash-secured collateral. The broker is counting its margin requirement.

Your Wheel allocation still caps how much the system can commit. The difference is what each side counts toward that commitment.

You can turn on Use Margin Buying Power in Wheel system settings (Misc). It is off by default.

With it on, SOB may size against margin buying power instead of full cash-secured collateral, so the numbers can line up more closely with what the broker shows. Assignment on margin-backed puts can leave you with a margin loan, interest, and margin-call risk. Read Using margin buying power before enabling it.

Margin is not available on every account type (for example many cash and retirement accounts). If your broker does not offer margin on that account, the toggle will not change much.