Scanner of the Day: Near-Term Expiration Investable Options

I thought I would start presenting some scanners I have found helpful. Here is my first one. It identifies potential near-term options that I can sell for quick turnarounds. Note that I always go through my list and only take trades where I would be fine owning the stock in case the trade goes south.

Filter Min Max Notes
Option Bid 0.1 If the bid isn’t 0.1, the contract costs will eat up too much of the price.
Days to Exp 15 Looking for short-term options. If you find some, this will compound well.
Stock Last 8 This makes sure the option is a decent % of the stock (because I have to reserve that much cash), and this is the level I play at.
Stock EPS -0.1 This makes sure the stock isn’t just oozing money. If I get stuck the stock they have a decent chance of recovery.
Option % out of the money 1% This is just to make sure I’m not hitting a stock just because it has an in-the-money option (which gives false triggers for the “option bid” filter)

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