For more information, please refer to your account agreement and the Margin Risk Disclosure Statement. When you select more than one strategy at a time using the Ctrl key those strategies will be grouped by strategy, making it easier to move to the order entry screen. Look for more in-depth reviews of the top options tools in the coming months. Please review the Special Margin Requirements for certain securities. Additionally, if you're only interested in strategies that will generate a specific rate of return if the option expires static rate of return or if your stock gets called away assigned rate of return , you'll have that capability, too. Once you've selected your strategy and narrowed down the potential stock universe, you can add some specifics regarding exactly what type of option you're looking for by defining several criteria ranges figure 3. One of my favorite features is the ability to specify whether or not the underlying security is part of a specific sector or industry and even whether it's a component of a well-known index.
Welcome to Options Screener. Oscreener is a Stock Option Screener and a tool to backtest option strategies.
Since implied volatility is one measure of uncertainty of the underlying instrument, a significant change in the implied volatility of options may be indicative of an anticipated change in the volatility expectation of the underlying stock, ETF or index. If you're a more advanced options trader or you simply want to specify exactly what you are looking for, use the Customizable Screeners figure 2. Because options traders need to have an opinion about the underlying security before they select an options strategy, many of the same criteria you would use to find stock trading candidates are available in this tool.
The five tabs located at the top, allow you to screen for a specific strategy. Once you've selected your strategy and narrowed down the potential stock universe, you can add some specifics regarding exactly what type of option you're looking for by defining several criteria ranges figure 3. One of my favorite features is the ability to specify whether or not the underlying security is part of a specific sector or industry and even whether it's a component of a well-known index.
If you are a seller of volatility, you can use implied volatility as a complement to other filtering for both the option and the underlying stock, ETF or index. Additionally, if you're only interested in strategies that will generate a specific rate of return if the option expires static rate of return or if your stock gets called away assigned rate of return , you'll have that capability, too.
Once you have defined all of your criteria, you'll even be able to dictate how the output should look figure 4. You can select exactly which fields to display, thereby eliminating any unnecessary data.
Finally, you can save your criteria by name, so you can run the same screen any time you want. The output of your screen should be exactly what you want and only what you want figure 5. The Trade Assessor figure 6 is a single and multi-leg order entry screen that allows you to specify a number of items: When you select more than one strategy at a time using the Ctrl key those strategies will be grouped by strategy, making it easier to move to the order entry screen. My favorite features in the Trade Assessor are the ability to view graphical charts plots for profit and loss and options Greeks figure 7.
The final tool I'd like to discuss is the pricing calculator. It comes in two forms: The Basic Options Calculator figure 8 , which is designed for investors who are new to options, will help you calculate options Greeks and theoretical values by reading the explanations and entering the relevant criteria.
The Advanced Options Calculator figure 9 is designed for more experienced options traders. Its functionality is similar to the basic version, but the interface skips the detailed explanations of the different components and allows you to change the criteria after the output and recalculate on the fly.
Learn more about Schwab Trading Services. Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Multiple-leg strategies will involve multiple commissions. Spread and uncovered options trading must be done in a margin account. Margin trading increases your level of market risk. For more information, please refer to your account agreement and the Margin Risk Disclosure Statement. Any strategies discussed, including examples using actual securities and price data, are strictly for illustrative purposes and are not to be construed as a recommendation or an offer to sell or a solicitation to buy any securities.
As part of our new website we'll be delivering trader tech reviews monthly on anything and everything for traders. We'll be reviewing trading platforms, options tools as well as anything our readers want to see. Start the blog roll now and place your comments below, what do you want to see reviewed?
OptionsOracle - The most comprehensive free options trading tool out there, Options Oracle, can help traders screen for and visualize options strategies. SamoaSky, the creator of Options Oracle sums up the software well OptionsOracle is free tool for stock options trading strategy analysis, built for options traders.
The software uses Yahoo! Finance as the data feed by default but you can integrate your brokers live data with a little work. Here's a quick rundown of the best features for options traders.
TrixyCharts - These free interactive charts on the new BigTrends. The great innovators over at Vestly Software have created a masterpiece in non-software based browser based charting with Trixy, but they've also got another tool well worth the mention called StockFetcher. You can find a more in-depth review of TrixyCharts from a previous Daily TrendWatch in options tools. We provided a full review of TrixyCharts on BigTrends.
TradeLogger - Many traders lack the money management component in their trading plans. As a BigTrends coach I see this as the major weakness far too often, TradeLogger is a great resource for traders to help minimize portfolio drawdowns while mitigating the psychological draw downs that accompany periods of system inefficiency. TradeLogger uses the equity curve of your portfolio value to signal when to paper trade or live trade. Equity curve management is covered as a part of our 50 course coaching program, but you can get a jumpstart by using this awesome tool today.
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WHY OPTION PARTY? Option Party’s suite of advanced screeners, enhanced data, and automation features make it the best-in-class choice for options research. See why Option Party is the options research tool of choice for thousands of successful options traders. Sep 09, · The ultimate guide to options trading. Get actionable ideas and unique insight about specific stocks from Lawrence G. McMillan. Also get guidance on risk management, sentiment from the trading floor, and what's coming up next for traders. Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading privileges subject to TD Ameritrade review and approval. Not all .