Using the Option Screener

Getting Started with the Screener

Our screener is designed specifically for wheel strategy traders. It helps you find the best cash-secured put and covered call opportunities across thousands of options.

Screener Overview

We offer two specialized screeners:

Cash-Secured Put Screener:

• Find puts to sell on stocks you want to own
• Filter by premium yield, delta, expiration
• Check fundamentals before trading

Covered Call Screener:

• Find calls to sell against shares you own
• Target specific strike prices
• Optimize for your cost basis

Key Filters

Filter	Purpose	Recommended Settings
Delta	Probability of assignment	0.15 - 0.30
DTE	Days to expiration	25 - 45
Premium Yield	Monthly return potential	> 1%
IV Rank	IV relative to history	> 30
Market Cap	Company size	> $1B
Volume	Liquidity	> 500K

Using the Dashboard

The dashboard provides a quick overview of:

1. Top opportunities - highest yield options meeting your criteria
2. Your watchlist - tracked stocks with current option data
3. Earnings alerts - stocks with upcoming earnings
4. Expiring positions - options nearing expiration

Step-by-Step Screening Process

For Cash-Secured Puts:

1. Start with your watchlist or the discover page
2. Set delta filter (0.20-0.30 recommended)
3. Set DTE filter (30-45 days)
4. Sort by premium yield (highest first)
5. Check earnings dates (avoid if < 7 days)
6. Review fundamentals before trading

For Covered Calls:

1. Enter the stock you own
2. Set strike filter (at or above cost basis)
3. Set DTE filter (30-45 days)
4. Compare yields across strike prices
5. Consider your outlook on the stock
6. Select strike that balances income and upside

Using the Watchlist

Build your personal watchlist of wheel-worthy stocks:

1. Add stocks you'd be happy to own
2. Monitor IV Rank for optimal entry timing
3. Track earnings to avoid surprise moves
4. Review regularly and remove poor candidates

Saved Screeners

Save your favorite filter combinations:

1. Set up your preferred filters
2. Click "Save Screener"
3. Name your screen (e.g., "Conservative 20-delta puts")
4. Access instantly from your saved list

Understanding the Data Columns

Column	What It Shows
Symbol	Stock ticker
Strike	Option strike price
Expiry	Expiration date
Bid/Ask	Current option prices
Premium	Mid-point price
Yield	Monthly return %
Delta	Assignment probability
IV	Implied volatility
Volume	Option trading volume
OI	Open interest

Pro Tips

Screening efficiently:

• Start broad, then narrow down
• Use the quick filters for common setups
• Sort by different columns to find gems

Avoiding mistakes:

• Always check the earnings calendar
• Verify option liquidity (bid-ask spread)
• Don't ignore fundamental quality

Mobile Access

Access the screener on mobile devices:

• Responsive design works on all screens
• Swipe through option chains
• Quick filtering on the go
• Add to watchlist with one tap

Try It Now

Start with these quick screens:

1. High Yield Conservative Puts: Delta 0.20-0.25, DTE 30-45, Yield > 1.5%
2. Quality Stock Puts: IV Rank > 40, Market Cap > $10B, Delta 0.25-0.30
3. Aggressive Income: Delta 0.30-0.40, DTE 20-30, Yield > 2%

In the final lesson, we'll show you how to track your P&L and measure your wheel strategy performance.