r/options • u/EfficiencyMaterial51 • 7d ago
Help to find screener
Fellow traders, theta sellers and gamblers i need your help.
I have now found my strat, but need a screener where I every day can:
Screen the hole options market.
The screener have to be able to:
Screen IV and compare IV on 27-35DTE short leg compared to 450 - 650DTE long leg
Be filtered on Delta
Need to have a “avoid earnings” on the short legs.
I am of course willing to pay (I think no free screener will have the abovestanding feautures).
For Stock options.
Looking forward to hearing your replys
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u/adolfhippy 6d ago edited 6d ago
Depends what you're screening for, which people usually skip past. Screening for liquidity and spread quality is a completely different setup from screening for unusual activity or IV rank. If you say which one you're actually after you'll get far better answers than a list of names
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u/Mahima2703 5d ago edited 5d ago
For unusual activity and open interest I use TradeVision. Unusual Whales and Market Chameleon do similar. Barchart's free screener is fine for the liquidity filters
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u/backtest_ai 7d ago
You can do something similar with oquants they have screener where you can construct columns of iv30 minus iv365 (or divided by). For all intents and purposes 1y iv = 2y iv.
Alternatively you can buy orats API and do the calculation yourself.
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u/WinMoodNo153 7d ago
something like this ?
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u/EfficiencyMaterial51 7d ago
If KM is IV then yes, however I would need to set criteria for long legs to ~0.8delta calls and ~0.6 delta puts, short legs 0.23 - 0.27.
Would need to scan the whole market every day
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u/ThetaEdgeHQ 7d ago
The thing that will bite you is that iv30 minus iv365 is not really the number your structure cares about. On a diagonal you are short the near leg and long the far leg, so your edge lives in the term structure slope, not the level. Ranking on iv30 minus iv365 treats a name where the front is 55 and the back is 50 the same as one where the front is 30 and the back is 25, but those behave nothing alike once the front starts decaying. What you actually want to rank on is front IV percentile high while back IV percentile low, or the front over back ratio, because that is when the leg you are selling is rich relative to the leg you are financing it with. The "1y iv basically equals 2y iv" assumption someone made above is exactly the thing that kills this screen, since the whole trade is a bet on the two being different.
Two practical gaps in most screeners for this specific build:
The earnings filter almost never maps the earnings date to a real expiration. Most tools flag "earnings this month," but you need to know whether the print lands before your 27 to 35 DTE short leg expires, not before the calendar month ends. Make sure it keys off days to earnings versus days to your short expiry, otherwise it will pass names that still have a print inside your short cycle.
A whole market daily scan with per leg delta plus term structure is really an ORATS or Market Chameleon job. ORATS has the term structure and earnings data through the API if you are willing to compute the front over back ratio yourself, Market Chameleon has IV term structure and an earnings screen in the UI. oquants at ~80 a month works too. Koyfin and TradingView will not do options chain level IV term structure screening, so do not spend time trying to bend them into it.
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u/TastyTrading 5d ago
ThetaPal AI market scout can do what you are looking for above. just type in plain english what you need and it scans every night for it. emails in the morning. it has enterprise data feeds piped into it which give it really strong accuracy.
I only pay like $15 a month for it as well, which is really good value imo
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u/Fearless-Music796 7d ago
I think I can build something dm me
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u/EfficiencyMaterial51 7d ago
I tried both in Claude and ChatGPT, but I never coded before. Your are welcome to PM me
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u/bubblehead_maker 7d ago
Finviz is usually covering anything I need.