Risk/Reward-Debitspread Option Scanner?

Discussion in 'Options' started by antares66, Jan 26, 2023.

  1. Hello,
    i´m searching for a scanner to find options with the best risk/reward ratio for a $ 10 wide spread in debit spreads. Is such a scanner available? Thanks.
     
  2. taowave

    taowave

    10 wide spreads for all stocks regardless of stock price is not a great method for scanning.

    10 dollar stock vs a 500 dollar stock???

    Look at Delta equivalent spreads or some measure of percent of spot spreads.Apples to Apples..

    Check out Orats...




     
  3. ZBZB

    ZBZB

  4. I meant for stocks above $ 100,00. Stocks like NVDA, FSLR, TSLA ...
     
  5. Thanks for your recommendation. I love OptionStrat but they have no scanner.
     
  6. taowave

    taowave

    OptionSamurai or Market Chameleon may have what you need,but Orats is the way to go
     
    antares66 likes this.
  7. Are you using Orats? Could you tell what you like most?
     
  8. taowave

    taowave

    Yes,I use Orats..
    For one,I trust the data and the math behind the analytics...

    As sophisticated as the program is,it has a great user interface.
    Its very flexible and powerful and its the only program that has advanced option related charting,screening as well as backtesting. You can create your own custom positions,as simple or complex as you like and get a very good idea of the risk/reward,probability of profit and edge

    Its not plug and play,and there is a small/medium learning curve,but its by far the best tool on the market..

    And I do not work for the company:)
     
    Matt_ORATS and antares66 like this.
  9. Would it be possible to scan for the creteria i´m interested in? I would like trading options as simple as possible without spending hours every day for selecting the right stocka and strikes. I´m mostly trading verticals and know that for buying a bull call spead the IV rank should be rather low (opposite when selling verticals for premium). But i spent hours to select the right stocks and strikes. So i would like to find the stocks with the best risk/reward ratio to minimize the amount of time for trading. Perhaps is Orats the right tool for me or perhaps OptionSamurai which i used two years ago for a trial. Bu i forgot if OptionSamurai has the option to assess verticals for risk/reward/ratio.
     
    Matt_ORATS likes this.
  10. Matt_ORATS

    Matt_ORATS Sponsor

    Our options scanner can incorporate our stock scanner to find symbols meeting overall IV, fundamental, and many other types of ratios. Once you have stocks in the options scanner automatically, you can set up the call spreads with DTE, delta ranges, leg relationships, min max reward risk, open interest, POP, bid ask width, and many other filters. You can sort on theoretical values, reward risk, POP, to find the best options. Then you can analyze the trade including seeing how the price change from yesterday was attributed to delta, gamma, slope change or theta.
    We have a bunch of tutorials or you can email me if you need help matt@orats.com
     
    #10     Jan 27, 2023