This seems to sort of do it. Kinda annoying cuz you have to enter the trade manually as far as I can tell. https://www.interactivebrokers.com/en/trading/options-calculator.php
Man, that's just a simple options calculator, not a scanner/screener... Try this options scanner: https://marketchameleon.com/Screeners/Options An options scanner is a complicated beast as it has many settings for filtering...
Im not sure why hes even bothering with options. He's right 60 percent of the time. We don't know his risk reward metrics,but I don't think I know one great directional trader who sells premium . If he goes the backtesting route I think he will find on a risk adjusted basis,selling premium is not the way to go..
And that is more or less what I was looking for. I can figure out which markets I want to trade....man.
This sounds something like 'what is the best kind of razor blades to swallow? I like being safe, so I'm just picking ones that are about 2"x2" right now.' If you're any good on direction, you should be buying options, not selling them - just what @taowave was saying. Selling is basically a bet against volatility (to put it crudely, a bet on minimal price movement) whereas buying is the opposite. If you're any good at predicting direction - and even more so, the distance the price will move over a given tenor - you can make a killing by buying options (e.g., some types of trades have returns in the 100:1 range.) Selling is mostly about smaller returns in steady or decreasing volatility - i.e., when the market isn't moving (not exactly the case right now.) All of the above has exceptions and can be modified in lots of ways... that's why it's called "options". But in the main, that's how it works. In general, selling options in this market is a bad idea. But then, doing anything that you don't understand with options - or trading in general - is a bad idea. And yet, here we are...
Then why am I up on 60% of my trades and profitable overall after about 1,000 trades? Imagine if I were as smart as you are.
Every one here is always ready to tell you why you should not be trading. Don’t judge a book by it’s cover. Don’t judge a trader by one post.
Right 60% of the time but he doesn't know what he's doing and he's quoting a snake oil options vendor.... you've seen this story before.