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Rank: Admin
Groups: Admin
Joined: 4/25/2009
Posts: 74
Points: 200
Location: USA
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This thread is for discussions on the new option search features. Many investors emailed with questions so I thought it would be a good idea to start a thread of discussions here.
Two Main Features.
1. Search Feature: This allows option traders to search for the highest possible premiums when writing Covered Calls or Naked Puts.
- Search for options with the highest return on investment for covered call and naked put writing
- Options must return at least 1/2% to make it to the list. Why bother with options that have less than 1/2% ?
- Currently the data on the search is End Of Day. Is was done this way with the thought that most option writers have a time-frame of at least 2 weeks to a month when selling options. We may move to updates a couple of times a day.
- We are going to add features such as Sorting, % Protection for Naked Puts and more.
2. Option Lookup: This feature has 20 minute delayed quotes. It is best used when you know the stock you want to write options on and what to find out what options have the highest ROI.
If you have any questions, or feature requests please reply to this post.
I have to thank Teddi at FullyInformed and Troy at TheMoneyTree for all their input on these features.
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Rank: Admin
Groups: Admin
Joined: 4/25/2009
Posts: 74
Points: 200
Location: USA
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We just added new features to the Option Search Engine Today.
The two best tools to find great trades are Downside Protection. This is best used on Naked Puts and tells you how far the stock has to drop before you would even have to start thinking about a loss. The second is Out Of The Money Percent.
When you combine a high Downside Protection % and and High Out Of The Money% when writing Naked Puts you odds for the contract to expire worhtless greatly increase. Enjoy and make some money!!!
Filtering...
1. Filter by Downside Protection (DSP) From 1% and up.
2. Filter by OTM by 1% and up.
3. I added (per Teddi) ROI starts at 1/2% and up. This brought many more options in the grid.
Sorting...
1. By Stock Name
2. By Stock Price
3. By Bid Price
4. By OTM
5. By DSP
6. By ROI
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Rank: Newbie
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Joined: 5/9/2009
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Location: USA
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Patrick,
What are your thoughts on including Implied Volatility in the master table?
Knowing the implied volatility for am option allows one to know if the options are expensive or not. I personally find it very useful.
Thanks.
Peter
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Rank: Admin
Groups: Admin
Joined: 4/25/2009
Posts: 74
Points: 200
Location: USA
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Peter,
Great idea. I will add it in the coming weeks.
Thank you,
Patrick
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Rank: Member
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Joined: 4/27/2009
Posts: 9
Points: 27
Location: Montreal, Canada
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Hi Patrick,
I want to thank you for your new Covered Call/Naked Put search engine. With it, I was able to sell naked puts for HGSI, only a week ago, and make some very nice profit in a relatively safe way while being at risk for only a few days.
Once again thanks and keep up the good work!
/Bass
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Rank: Admin
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Joined: 4/25/2009
Posts: 74
Points: 200
Location: USA
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Bass,
I appreciate your feedback and really happy to hear the trades went well.
I used it to sell puts on APC, PCX, (two more I don't remember right now). All worked out as profitable.
These were stocks that would have never looked at if it were not for the search. The company APC (oil) has been around since the 50's, makes huge money, and premiums are high now because they have 25% invested in the BP mess.
Patrick
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Rank: Newbie
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Joined: 8/4/2010
Posts: 2
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Location: USA
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I like the lookup feature in addition to the search feature. It would be nice if the lookup feature included the current month and next month. One LEAP month is also very nice. Thanks for the great work. Hal
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