A Helpful Tool for Contract Selection

What is the Options Screener?

When you are ready to start investing, you may wonder, “how do I pick a stock?“ or in the case of options trading, ”how do I pick a contract?” . You may have heard about a stock screener that filters choices for you. Similarly, the options screener can help investors filter options contracts to narrow down their search.

‌

What is the Purpose of an Options Screener?

Options screeners are tools that can help investors filter options contracts from the thousands available. Based on the trading ideas and conditions you selected, the screener will scan all the available options contracts and give a list of those that match.

‌

Why Do Investors Screen Options Contracts?

• When we have too many choices to sort through all of them, the options screener is a useful tool to help us filter through thousands of options contracts and find the right one.
• Create customized options screeners to quickly view options contracts that meet your criteria.
• Save your common screener conditions and view all the available contracts with one click.

‌

What Screeners are Included？

‌

How Can an Options Screener Help You?

Let’s suppose you’re seeking an options strategy that’s potentially risky. You may feel the need to enter a position that will be relatively easy to exit if the market turns against you. In this case, the “volume” parameter in our options screener can be helpful. Typically, contracts that have higher volumes are more liquid, meaning they have a larger market of buyers and sellers, and a higher likelihood that you’ll be able to quickly exit the position if needed. So, in this case, you might begin narrowing your search to only the highest-volume contracts available. Of course, there is no guarantee that this will prevent you from ending up on the losing side of a trade, but the information you’ve gained from this screener can be a valuable tool as you continue researching to find the contracts that best suit your investment goals. —And that’s just one of the many parameters that you can screen for using this tool.

‌

How Do You Find the Options Screeners on Webull?

Entry: Market>Screener>Options

Note: Please subscribe to OPRA quotes and update your app to the latest version to get started.

Let’s try it out!

Source: https://www.webullapp.com/learn/nPCbGM/DbpPvC/A-Helpful-Tool-for-Contract-Selection?sourcePage=InvestEducationLessonDetail