Although if I didn’t watch or read a lot about equities and the intelligent investor as well as other finance books I would not know what you were talking about this video explains that in need to know. Quite well and better than all the others I have watched. Thx
Wow, thanks a lot for putting this together. I have never used a scanner like this before but am always “scanning” for stocks. One thing I have found is the ROR on the options of stocks I wouldn’t mind owning seems to hover around 1% (a month) and the only way to get a higher ROR is to trade the options on riskier stocks (almost w/o exception these are companies that have negative earnings or super high PEs).
I don't get it if you're selling puts, why would you be scanning for someone else's puts? what info are you trying to get out of it? are you scanning for buyers?
So we're not scanning for someone else's options, but rather this provides information about current market prices of options. Then we can use this information to decide whether or not we think selling an option on the stock is a good idea for us
Very good info and screener. After all that screening, you still have to pull back and look at the stock and determine if you are comfortable holding it. (The Buffet test). Is it a good company test....
Very true! We talk about this a little further in the series but this is certainly not a list of great companies. That next step of diligence is very important.
Thanks for watching! We’re working on building one and can make a similar video, however you’ll find that a lot of options will high put premiums will also have corresponding high option premiums
Can you narrow the search by stock also, like no stocks under a share price of $10 and no stocks over say $500. Or maybe limit it to nasdaq 100 or S&P 500 and Dow 30. Just trying to narrow the search to quality stocks.
In theory the calls should be the same as the options. In fact, selling a cash secured put in the money is the same as selling a covered call at that strike
The "you asked for a lot of stuff" warning is actually just because you set it to 2000, it doesn't actually have anything to do with how many results you get or how many you could have gotten. Kind of a silly feature.
Great video thank you! Is that scanner/screener free to use? If not do you have a similar scanner/screener that is completely free that I can use? Thanks!
This Ameritrade is very useful and full of information. I am learning it and wonder those option scan results, how do you determine is a sell or buy options? thanks in advance.
Can you share or do you have a video that describes what to expect on smart trades for selling puts on one week to one month trades ? Ie how long before you end up assigned stock where by you have no cash to continue with X amount to begin ie $100,000 or $1,000,000 options account- what kind of cash flow you can generate while taking approach to delay/avoid assignment at expense of highest ROR. ETC ? Your approach appears very good and although you so assume some terms and knowledge you speak to the average viewer Thx
I think the best thing that can speak to “what to expect” is our profit tracker. Since mid-2020 we’ve publicly tracked every single one of our trades. 2022 has obviously been a tough year in the market but we’re still +88% since we started tracking so don’t let the larger $$ losses this year scare you. This has been the worst start to a year ever for a market so this is a good picture of what “worst case” looks like, and we’re still about in line with NASDAQ. Here is the link: docs.google.com/spreadsheets/d/1LYRWoB-YsB0_c-gqiW0vZjMjCcpOR7Mj1QqcPUTCHLU/edit#gid=1311103808
So you ran this scan on a Friday. Do you typically run these scans on Friday, and then sell your puts on that same Friday? Or do you wait until Monday morning to enter your trades?
I like to enter trades (for the following week) on Fridays. That way you get a full weekend of theta decay to help you out. And while I ran this scan on a Friday for the video, I’ll typically look at it anytime during the week that I’m looking for a trade.
Using a scanner is to help you find new trades every week. Which it’s something I would encourage you to do as those stocks you mentioned are very dangerous
@@thehourglasstrader9280 I’ve been trading them consistently for a year already. Haven’t had any issues with them yet. I like that they’re not tied to any single company and are diversified in some fashion. I’m more worried about investing in a single company and that it’ll not perform as expected such as PLTR which I am down on. That’s why I’m focused on ETFs trades and investments now. I also own VTI, SPHD, QQQJ, VYM, KO, COLD, and a few others for long term.
@@RicardoHernandez-zr1pw the issue isn’t so much ETF’s, but rather that they’re leveraged ETFs. The market has basically gone up in a straight line over the past 18 months. The second things turn around people who are selling puts on those are going to get crushed
@@thehourglasstrader9280 That’s actually the best time to sell puts on these however. With increased IV or an increase in the VIX. There’s ways to trade these in any market condition. Someday I’ll make a video on how I manage these and trade them.
@@RicardoHernandez-zr1pw after the drop, sure. But if you’re selling them week after week and a leveraged ETF drops even more sharply than the overall market you’re going to be holding a pretty big loss. That’s why we think it’s best to avoid leveraged products because the downside is just too great
Great question! RoR is a metric that only applies to puts, so when we scan for that it will only bring us puts. When we see a ticker on this list with high premium puts, typically (almost every time) the calls will have high premiums as well. So it essentially works for both b
In the Search Results display, I'm just getting the stock symbol not the option's symbol. What did you do to display the specific option's symbol? Thanks
Well that’s just depends what you’re trying to get at. Those have some insane premiums, and that’s exactly what we’re trying to find with this scan. However we agree that those aren’t the best to trade so our next video will be about interpreting the results of the scan and picking a trade
Exactly what I’m looking for, thank you. Wondering if you are a fan of Tasty trade and Soznoffs trading style of trade small , trade often.. sell premium with approx 45DTE and close trade near 21 DTE etc. ? 🤘
If a stock has high put premium, it’ll also have high call premium. So this effectively is finding stocks with high option premium. Basically the same list.
Hey I wonder if you can help me out? could you tell me how I can invest in U.S. markets if I'm outside and live outside the Us. Meaning I don't have a us social security. Thanks
Why don’t simply sort the shortlisted options (say liquid ones with delta below 5%) by bid option price / simple moving average (of the option price)? This could be implemented in the option hacker as a customizable metric if I’m not wrong
You definitely can do that. Sometimes the list gets a little long and can be tougher to work with because it slows the software down or it can be tougher to work with in excel if you’re planning to export the results to a spreadsheet. Shortening the scan from the start solves that.
I use the option scanner built in on Thinkorswim, which is what is shown in the video. It's available free of charge for anyone with a TD Ameritrade account, which is also free to set up. You don't even need to deposit any money!
Part two to this video has been posted! ua-cam.com/video/jU7-5SbIprY/v-deo.html
I tried putting a similar scan together and it was a mess. This video is easy to follow, and presto, a very useful scan is created. Much appreciated.
dude im so glad i found you! been searching everywhere for a youtuber who sells options, you earned a sub bro keep up the good work!
Appreciate the comment, glad you liked it!
That was so wonderful - I can cease trying to calculate ROI across alternatives! Love it!
Thanks for watching!
Thanks for showing how to add new columns!
Although if I didn’t watch or read a lot about equities and the intelligent investor as well as other finance books I would not know what you were talking about this video explains that in need to know. Quite well and better than all the others I have watched. Thx
Wow, thanks a lot for putting this together. I have never used a scanner like this before but am always “scanning” for stocks. One thing I have found is the ROR on the options of stocks I wouldn’t mind owning seems to hover around 1% (a month) and the only way to get a higher ROR is to trade the options on riskier stocks (almost w/o exception these are companies that have negative earnings or super high PEs).
Love these videos and the step by step process. Thanks for sharing!!
Thanks for watching!
You just saved me alot of time. Thanks.
thanks for putting this video out.
I really appreciate you taking the time to show and tell.
Thanks for the training! Great video!
I don't get it if you're selling puts, why would you be scanning for someone else's puts? what info are you trying to get out of it? are you scanning for buyers?
So we're not scanning for someone else's options, but rather this provides information about current market prices of options. Then we can use this information to decide whether or not we think selling an option on the stock is a good idea for us
This is great! Unfortunately, I'm not a US resident. Is there any possible way to access a scanner that is similar?
Very good info and screener.
After all that screening, you still have to pull back and look at the stock and determine if you are comfortable holding it. (The Buffet test). Is it a good company test....
Very true! We talk about this a little further in the series but this is certainly not a list of great companies. That next step of diligence is very important.
thanks for the video. really nice scan. btw do you have a video for high premium covered call scan?
Thanks for watching! We’re working on building one and can make a similar video, however you’ll find that a lot of options will high put premiums will also have corresponding high option premiums
Dude you should have shared your scan in the video. It would have been helpful. Can you still add the share link on the description?
Great explanation, thanks a lot !.
Can you narrow the search by stock also, like no stocks under a share price of $10 and no stocks over say $500. Or maybe limit it to nasdaq 100 or S&P 500 and Dow 30. Just trying to narrow the search to quality stocks.
Absolutely. Planning on making another follow up video and can cover that
Great video. Thanks for sharing. How do you scan for calls?
In theory the calls should be the same as the options. In fact, selling a cash secured put in the money is the same as selling a covered call at that strike
fantasitc video! you deserve more views on this.
Glad you liked it, thanks!
The "you asked for a lot of stuff" warning is actually just because you set it to 2000, it doesn't actually have anything to do with how many results you get or how many you could have gotten. Kind of a silly feature.
Great video thank you!
Is that scanner/screener free to use? If not do you have a similar scanner/screener that is completely free that I can use?
Thanks!
Thanks for watching! And yes this scanner can be used for free by downloading TD Ameritrade’s Thinkorswim software
@@thehourglasstrader9280 thank you sir!
I will try it when I finish work and get home.
Again thank you so much for the quick response :)
This Ameritrade is very useful and full of information. I am learning it and wonder those option scan results, how do you determine is a sell or buy options? thanks in advance.
You want to sell puts to make money. Buying means loosing > Theta decay - time is hard to beat.
LOL so GME was the highest return on risk... Funny how that turned out! Has anyone seen the movie about it called "Dumb Money"?
Excellent info! Thank you!
awesome info -- thanks man
Can you share or do you have a video that describes what to expect on smart trades for selling puts on one week to one month trades ? Ie how long before you end up assigned stock where by you have no cash to continue with X amount to begin ie $100,000 or $1,000,000 options account- what kind of cash flow you can generate while taking approach to delay/avoid assignment at expense of highest ROR. ETC ? Your approach appears very good and although you so assume some terms and knowledge you speak to the average viewer Thx
I think the best thing that can speak to “what to expect” is our profit tracker. Since mid-2020 we’ve publicly tracked every single one of our trades.
2022 has obviously been a tough year in the market but we’re still +88% since we started tracking so don’t let the larger $$ losses this year scare you. This has been the worst start to a year ever for a market so this is a good picture of what “worst case” looks like, and we’re still about in line with NASDAQ.
Here is the link: docs.google.com/spreadsheets/d/1LYRWoB-YsB0_c-gqiW0vZjMjCcpOR7Mj1QqcPUTCHLU/edit#gid=1311103808
So you ran this scan on a Friday. Do you typically run these scans on Friday, and then sell your puts on that same Friday? Or do you wait until Monday morning to enter your trades?
I like to enter trades (for the following week) on Fridays. That way you get a full weekend of theta decay to help you out. And while I ran this scan on a Friday for the video, I’ll typically look at it anytime during the week that I’m looking for a trade.
@@thehourglasstrader9280 Good point. Theta decay happens even on weekends when markets are closed.
I just trade TQQQ, SOXL, TNA, & UPRO. Would using a scanner help me if I trade the same ETFs every month?
Using a scanner is to help you find new trades every week. Which it’s something I would encourage you to do as those stocks you mentioned are very dangerous
@@thehourglasstrader9280 I’ve been trading them consistently for a year already. Haven’t had any issues with them yet. I like that they’re not tied to any single company and are diversified in some fashion. I’m more worried about investing in a single company and that it’ll not perform as expected such as PLTR which I am down on. That’s why I’m focused on ETFs trades and investments now. I also own VTI, SPHD, QQQJ, VYM, KO, COLD, and a few others for long term.
@@RicardoHernandez-zr1pw the issue isn’t so much ETF’s, but rather that they’re leveraged ETFs. The market has basically gone up in a straight line over the past 18 months. The second things turn around people who are selling puts on those are going to get crushed
@@thehourglasstrader9280 That’s actually the best time to sell puts on these however. With increased IV or an increase in the VIX. There’s ways to trade these in any market condition. Someday I’ll make a video on how I manage these and trade them.
@@RicardoHernandez-zr1pw after the drop, sure. But if you’re selling them week after week and a leveraged ETF drops even more sharply than the overall market you’re going to be holding a pretty big loss. That’s why we think it’s best to avoid leveraged products because the downside is just too great
Is the Discord still free to join? if yes can you please provide the link? Thanks!
Yes, free to join the main chat. Link should be in the description of the video
I can’t find link of discord,
What's in the scan that tells Thinkorswim we are just looking for Puts? How would we scan for high premium out of the money calls ?
Great question! RoR is a metric that only applies to puts, so when we scan for that it will only bring us puts. When we see a ticker on this list with high premium puts, typically (almost every time) the calls will have high premiums as well. So it essentially works for both b
Thanks
thank, very usefull
In the Search Results display, I'm just getting the stock symbol not the option's symbol. What did you do to display the specific option's symbol? Thanks
If you look too right of the results there should be a drop down menu for stocks, options, or stocks and options. You’ll want to select “Options”
Is there a good studies filter? I added price filtert to 20 dollars or higher, but that doesn't filter out the gamestop and amc kind of stocks.
Well that’s just depends what you’re trying to get at. Those have some insane premiums, and that’s exactly what we’re trying to find with this scan. However we agree that those aren’t the best to trade so our next video will be about interpreting the results of the scan and picking a trade
Exactly what I’m looking for, thank you. Wondering if you are a fan of Tasty trade and Soznoffs trading style of trade small , trade often.. sell premium with approx 45DTE and close trade near 21 DTE etc. ? 🤘
How does this scan only return puts? What if you want to see calls?
If a stock has high put premium, it’ll also have high call premium. So this effectively is finding stocks with high option premium. Basically the same list.
This scanner for put options?
thank you
Awesome thankyou
Hi. How do I limit to scan on option with a list of counters
Hey I wonder if you can help me out?
could you tell me how I can invest in U.S. markets if I'm outside and live outside the Us. Meaning I don't have a us social security.
Thanks
Yeah there are several different brokerages that will let you invest in the US market. I know Interactive Brokers is one so I’d look into that
Subscribed
Why don’t simply sort the shortlisted options (say liquid ones with delta below 5%) by bid option price / simple moving average (of the option price)? This could be implemented in the option hacker as a customizable metric if I’m not wrong
You definitely can do that. Sometimes the list gets a little long and can be tougher to work with because it slows the software down or it can be tougher to work with in excel if you’re planning to export the results to a spreadsheet. Shortening the scan from the start solves that.
"return on risk" or "return on capital" , I feel the later is the one we need
can you do call option one?
What is the significance of color? Some are green others are red?
I believe red means the individual option itself has decreased in value while green means it has increased in value
which option screener do you recommend? there are too many in the market.
I use the option scanner built in on Thinkorswim, which is what is shown in the video. It's available free of charge for anyone with a TD Ameritrade account, which is also free to set up. You don't even need to deposit any money!
@@thehourglasstrader9280 thank you very much. I live in Canada, is this Aneritrade only available in US?
Nvm, I managed to open one. Thank you very much.
hello, has the 2nd prt of this video been made. if so, please direct me to the title. Thanks
It has not yet but I’m planning on making it this weekend! Been super busy lately
@@thehourglasstrader9280 ok will look out for it. If possible please include buying calls or puts from the underlying.
Great video.
Thanks
10:00 Aged well xD
If only we had known
Dude it aged amazing lol
is there anyway I can export the list to document?
Yeah on thinkorswim there’s a drop down menu in the top right part of the screen which has an “export” option
please post the follow up video...
Been super busy lately but will definitely make one soon about how to evaluate the results of the scan!
Does this work the same way with call premium?
Yes it does. High put premiums almost always mean high call premiums
@@thehourglasstrader9280 awesome thanks love your content just started following 🤙
Can I get an invite to your discord channel?
discord.gg/Y6Q4qTNR6J
Bro 9:53 should of sold all the puts in the world and went heavy on calls
when do you run this scanner?
This scanner for put option ?
Correct, however if a stock has high put premiums it also likely has high call premiums as well!