Hi, as some background have done great for 2 months till this week doing diagonals buying say three 1-2 month out XOP and selling two 1 week out. Got big theta and made bucks on delta too, maybe best option play have ever had. Then this week the prior IV advantage went away. It was like 41% IV for weekly sold and 39% for 1 month bot, now opposite, so results much worse, even though XOP went right direction. I have used iVolitility in past, poked around and see that Barchart does very nice job of showing you IV and other greeks for free so got free account there. But to one by one look at stocks/ETFs to see the IV and then one by one compare exprs is way too time consuming. 1. Is there a free or reasonable tool screener out there that will show best higher 1 week out IV compared to 1-2 month out IV ? 2. To be effective also need to see that it is consistent not just a one week anomaly, so a way to look a week back or 3 weeks back etc. to see if back then it was similar? Does such exist? The best would be a chart that has say 3 lines of 1 week, 1 month, 2 month IV for that stock over months. That would be fantastic, give me what need. 3. By hand found IBM has great skew if that is right word, weekly IV way higher, BUT earnings next week, so not good compared to steady higher nearby IV as both options will IV crash on that day. Overall it seems whole market is now higher IV further out?? Anyone have a clue on why this is? 4. BTW I have both Etrade and TDAmer accounts, mostly use ET on options (Pro platform on options) and am very happy with that. However it seems to only show IV after you buy it not before, is there a way without buying the option to see IV there? 5. And lastly on XOP being thsat IV is now higher further out, anyone have a good strategy to make money of that with options? Cheers
Poking around see AMC has hugely higher IV 1 month out than 1 week, like 20 IV more. Have figured out good way to profit from opposite, any suggestion on GME to profit from this?
I'm not aware of any screener that would scan for term structure; if you had an options data feed (and I don't know of any free ones, or cheap ones that are any good), it wouldn't be that hard to code one up, though. The classic way to profit from increasing IV would be debit spreads - but IV behavior in meme stocks doesn't follow the usual patterns. I'd suggest doing some paper trading to make sure that you're not being misled by false expectations.
Exactly, is that TOS? How did you get to that screen? I see an exception in it, the Oct 29th IV is lower than the Oct 22, the rest are as have encountered higher, and on Oct 29th it is only the ATM strikes that are lower the OTM and ITM are also higher. OK whoever has those graphs do they also give you a way to screen for such IV differences against universe of weekly option stocks? Thanks!
Fantastic. Any "everything" includes a way to screen for stocks with the best 1 week vs 1 month higher IV? If not just the chart is very helpful. Cheers