Cash Secured Puts
The CSP (Cash Secured Puts) screener is a table with put options and their main characteristics. It analyzes thousands of options and shortlists trading opportunities to sell cash-secured puts.
The columns of the screener show the main characteristics of options e.g. DTE, strike, IV, etc. Also, you can use advanced filters (buttons above the table), such as High IV, Growth Stocks, etc.
For your convenience we added the basic mode of the CSP screener to the dashboard. It includes the most common settings used by options traders to find the best options to trade the wheel strategy (with high liquidity and 30-60 DTE from S&P500 and ETFs).
We recommend starting with the basic version and if you feel that you need more features, try the advanced mode of the screener. Pick the top 10-20 options from the list and analyze them further. The screener lets you easily discard irrelevant options and focus on the most perspective ones.
Filters can help you adjust the screener to your trading goals.
High IV filter excludes options that have low implied volatility and shows those which have IV above 100. High IV values are crucial when selling cash-secured puts.
Growth Stocks filter shows options on stocks that tend to be relatively volatile and grow fast.
DTE 30-60 filter shows options with 30 to 60 days till expiration. This is one of the most commonly used CSP filters.
Conservative Stocks filter shows options on well-known and stable stocks, that often meet Warren Buffet's investing style. For instance, Apple, Bank of America, Coca-Cola etc. It doesn’t include ETFs.
ETF filter shows exchange-traded funds. It is even more conservative than the output of the Conservative Stocks filter.
High Dividend filter shows companies with high dividend yield.
S&P500 filter shows options from the list of S&P500 companies, e.g. Boeing, Nike etc. It can sometimes overlap with the Conservative Stocks filtering list.
High liquidity helps filter out illiquid options.
We apply different colors to highlight categories of certain features. E.g. DTE 30-60 and DTE 180+ are painted in different colors. Options with the most attractive characteristics to sell are highlighted with green.
Primary tab covers all main features to make confident trading decisions. Here you will find such core features as IV, DTE, etc as well as advanced features designed by the 5Greeks team, such as Theta Impact, Time ROI %, etc.
Greeks tab shows Delta, Theta, Gamma, Vega. It’ll be useful for those who want to analyze greeks of a particular option.
Extras tab includes extended features such as OI, Intrinsic Value to dive deeper into options analysis.
Volatility Screener shows low volatility tickers (flats, triangles and weak trends) and high volatility tickers (active trends and impulse waves).
It is based on market movement potential relative to past prices as well as current market conditions. It can be useful both in options and stock trading.
Volatility Screener's index lets sort all stocks to identify flats or active trends. After sorting you’ll get a list of tickers with either high or low values. High index values indicate active trends, low index values — weak trends, flats, and triangles:
- if you trade flats or breakouts, you need to pay attention to stocks with low index values,
- if you trade impulse waves or pullbacks, you’ll often find them in stocks with high index values.
If index values are low, it may be interesting to buy straddles or strangles. If the values are high, selling options can be promising depending on other factors.
Low index values indicate that low volatility dominates in the market now, usually, there is no strong market movement. One typically can see a flat or a triangle on the chart at that time. This means that the price can move in any direction soon, breaking through the nearest support or resistance levels.
High index values indicate that the asset may be interesting for traders who trade impulse movements in the trend or expect correction waves emergence to search for pullback entry points in the direction of the trend from more attractive price levels.
Maximum and minimum index values indicate different market conditions (ranging from the flat in the run-up to strong market movements to the active phase of the trend).
The higher the screener's index, the more actively the market moves at the moment.
The search field can be used for custom requests (e.g. AAPL, 1.25, etc) to identify the market condition of a particular stock without analyzing a price chart.
The index is a key column that takes into account option prices, market movement potential, and output of Volatility Screener:
- If the value is low, buying straddles and strangles can make sense because such stocks are often in flats and are ready for a breakout. Moreover, market movement potential can be significant and their volatility and related options’ prices are relatively low.
- High index values can help find overpriced options to sell as well as stocks that are about to rebound. It can show stocks that move actively and which options can be overpriced. In such cases, it may be interesting to sell ATM options or trade a rebound signal if the Daily trend looks promising.
Minimum index values show tickers with the greatest movement potential and the «cheapest» underlying options. The lower the index, the more attractive long positions can be.
Maximum index values show tickers with the most «expensive» underlying options. The higher the index, the more interesting the selling of such options can be.
Fireball Screener was designed for traders who buy straddles and strangles and sell ATM options. The screener takes into account relative price of options, current and historical market conditions (flats, triangles and active trends) and price movement potential.
It analyzes 3-4 month ATM options and identifies stocks with the most expensive or the cheapest options.
The search field can be used for custom requests (e.g. BABA, 151.19, etc).
Cheapness Screener was designed for traders who buy straddles and strangles and sell ATM options. It analyzes 3-4 month ATM options and identifies stocks with the most expensive or the cheapest options.
The screener allows one to divide options into cheap and expensive taking into account the option price and recent market volatility.
The cheapness index is a key feature that takes into account option prices, market volatility, and price movement potential. You can sort all stocks by the Index column:
- The higher the value, the higher the price of an option relative to stock price movements. It can help find overpriced options. In such cases, it may be interesting to sell ATM options.
- Low index values may indicate that buying straddles or strangles can make sense because such options can be underpriced.
Low index values suggest that options have lower price relatively to previous market movements. In means that it can be interesting to buy underlying options.
Maximum index values show tickers with options that have the highest price relative to recent market moves. The higher the index, the more overpriced can be the ATM options.
The search field can be used for custom requests (e.g. AZN, 59.48, etc) that can help figure out whether there are cheap or expensive options on each particular stock.
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