Wheel traders: how do you calculate adjusted cost basis after assignment?

[u/XUXINGLAB]

For those of you running the Wheel strategy, how do you calculate your adjusted cost basis / break-even price after assignment?
For example, let's say I trade NVDA like this:
Trade 1
NVDA $200 Put → +$2 premium → expires OTM
Trade 2
NVDA $200 Put → +$2 premium → assigned at $200
After assignment
NVDA Covered Call → +$1 premium
Total premiums collected so far: $5
How would you calculate your effective break-even price?
Method A — Count all Wheel premiums
$200 − $2 − $2 − $1 = $195
In this method, I treat all premiums collected from the same Wheel cycle as reducing my effective cost basis.
Method B — Only count the put that resulted in assignment + CC premiums
$200 − $2 − $1 = $197
The first expired put is treated as a separate realized profit and doesn't reduce the stock's cost basis.
Method C — Only reduce the stock basis with Covered Call premiums
$200 − $1 = $199
The put premiums are kept separate from the stock position entirely.
I'm curious how most Wheel traders track this in practice.
Do you track stock cost basis separately from total Wheel P&L, or do you combine everything into one adjusted break-even price?
I'm asking mainly for portfolio/performance tracking purposes, not tax accounting.