If you don't have a chain or rope, rest the eyebolt on your fingertips. Be sure to practice this before you try a demonstration. You will have to move with the wheel as it slowly turns in a circle. A rotating bicycle wheel has angular momentum, which is a property involving the speed of rotation, the mass of the wheel, and how the mass is distributed. For example, most of a bicycle wheel's mass is concentrated along the wheel's rim, rather than at the center, and this causes a larger angular momentum at a given speed.
Angular momentum is characterized by both size and direction.
The bicycle wheel, you, and the chair comprise a system that obeys the principle of conservation of angular momentum. This means that any change in angular momentum within the system must be accompanied by an equal and opposite change, so the net effect is zero. Suppose you are now sitting on the stool with the bicycle wheel spinning. One way to change the angular momentum of the bicycle wheel is to change its direction. To do this, you must exert a twisting force, called a torque, on the wheel.