Options Scanner

We use the latest data analysis algorithms to evaluate all the optionable symbols on the US stock market. Then calculate the Return on Capital of neutral option selling strategies, so you can use the options screener to find high IV options instantly for the most profitable Strangles and Iron Condors of the day.

Last updated: 2024-07-20 8:05 pm

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All data is delayed by at least 15 minutes.

*Strangle Buying Power may differ based on different trading platforms and different account types.

Market Cap is calculated in the local currency.

How to Use the Strangle and Iron Condor Options Scanner

The aim of the Options Scanner is to quickly pick out the best Strangles and Iron Condors. Here are the tips to get the most out of the screener:

  • Upside uses fundamental analysis to find the difference between Fair Value and Last. The higher the Upside means the higher probability of the stock price going up.
  • IV Perc and IV Rank use a scale of 0-100% to indicate the current IV level relative to last year. Sort by >50% IV Perc or IV Rank to find high IV stocks then sell options when the prices are high.
  • Strangle Details outline the 0.20 delta strike prices to sell Put and sell Call. When trading an Iron Condor, use the same 0.20 delta strike prices to sell Put and sell Call, then buy Put and buy Call at strike prices one step further out.
  • Sort symbols by the ROC (Return on Capital) of Strangles or Iron Condors to find the most profitable option-selling trades.
  • BP is the Buying Power required to trade Strangles, we recommend utilising <5% of your account to manage risk.
  • Spread is a measure of the bid-ask spread of the symbol, choose a symbol with good liquidity that has a low Spread.
  • Choose symbols with Market Cap >$10B for financially strong companies with relatively stable stock prices. They are less prone to price manipulation and have a greater probability of winning neutral options strategies.
  • Open Interest and Options Volume are measures of liquidity for the symbol. Choose high option volume symbols so your trades are filled more quickly.
  • Squeeze and Squeeze Days indicate the time in which the symbol's price movement is compressed. The stock price has a high chance of large movement after Squeeze, so we don't recommend trading Strangles/Iron Condors during a Squeeze.
  • P/C Ratio is the ratio for the total Put contracts/Call contracts. It indirectly tells us the directional expectations of the market.
  • Earnings usually lead to higher price volatility, so we don't recommend selling Strangles/Iron Condors that expire after the Earnings Date. We can use Days To/Since Earnings to countdown to the Earnings day. If Days To/Since Earnings is a negative number, it means there has been an Earnings Date recently, and we expect the IV to contract.
  • We choose only monthly Expirations for better liquidity, so trades are filled more quickly.

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