Finding wedges

Discussion in 'Options' started by rishb, Jun 12, 2012.

  1. rishb


    I'm 18 and looking into learning how to trade options.

    I came up with the following strategy:
    - Find a stock that is currently trading in a wedge because implied volatility will be low
    - Do a straddle trade
    - Make money when the stock breaks the wedge and shoots in a certain direction

    I want to try this strategy out in a virtual account but in order to do so, I first need to find a stock currently in a wedge.

    Is there any quick way to find such stocks through a screener or through some other method? If not, do I have no choice but to keep going through a whole bunch of stocks until I find one that is trading in a wedge?
  2. finviz
  3. I would suggest getting a demo with think or swim, also they have a billion technical studies and a built in scanner, this will take some time to learn but you hopefully have some time to learn this....:)