Option Scanning: How to Find Puts with the Highest Premium

  Рет қаралды 54,173

The Hourglass Trader

The Hourglass Trader

Күн бұрын

Пікірлер: 109
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Part two to this video has been posted! kzbin.info/www/bejne/oIaaXmiJl66jqLs
@kilim5583
@kilim5583 3 жыл бұрын
I tried putting a similar scan together and it was a mess. This video is easy to follow, and presto, a very useful scan is created. Much appreciated.
@salemmckenzie
@salemmckenzie 3 жыл бұрын
dude im so glad i found you! been searching everywhere for a youtuber who sells options, you earned a sub bro keep up the good work!
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Appreciate the comment, glad you liked it!
@Vested_Investor
@Vested_Investor 3 жыл бұрын
That was so wonderful - I can cease trying to calculate ROI across alternatives! Love it!
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Thanks for watching!
@fredwinslow744
@fredwinslow744 2 жыл бұрын
Although if I didn’t watch or read a lot about equities and the intelligent investor as well as other finance books I would not know what you were talking about this video explains that in need to know. Quite well and better than all the others I have watched. Thx
@scrappydoo9
@scrappydoo9 3 жыл бұрын
Wow, thanks a lot for putting this together. I have never used a scanner like this before but am always “scanning” for stocks. One thing I have found is the ROR on the options of stocks I wouldn’t mind owning seems to hover around 1% (a month) and the only way to get a higher ROR is to trade the options on riskier stocks (almost w/o exception these are companies that have negative earnings or super high PEs).
@sheryllynmc
@sheryllynmc 6 ай бұрын
Thanks for showing how to add new columns!
@stevea326
@stevea326 3 жыл бұрын
Love these videos and the step by step process. Thanks for sharing!!
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Thanks for watching!
@plutus205
@plutus205 Жыл бұрын
You just saved me alot of time. Thanks.
@Don6641
@Don6641 3 ай бұрын
This is great! Unfortunately, I'm not a US resident. Is there any possible way to access a scanner that is similar?
@Jason-ib8kx
@Jason-ib8kx 2 жыл бұрын
Thanks for the training! Great video!
@weeb3277
@weeb3277 Жыл бұрын
I don't get it if you're selling puts, why would you be scanning for someone else's puts? what info are you trying to get out of it? are you scanning for buyers?
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
So we're not scanning for someone else's options, but rather this provides information about current market prices of options. Then we can use this information to decide whether or not we think selling an option on the stock is a good idea for us
@jaireddy8794
@jaireddy8794 2 жыл бұрын
I really appreciate you taking the time to show and tell.
@57Carlibra
@57Carlibra 10 ай бұрын
thanks for putting this video out.
@62Sketch
@62Sketch 2 жыл бұрын
Can you narrow the search by stock also, like no stocks under a share price of $10 and no stocks over say $500. Or maybe limit it to nasdaq 100 or S&P 500 and Dow 30. Just trying to narrow the search to quality stocks.
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
Absolutely. Planning on making another follow up video and can cover that
@mathewm1350
@mathewm1350 3 жыл бұрын
fantasitc video! you deserve more views on this.
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Glad you liked it, thanks!
@hxn9264
@hxn9264 3 жыл бұрын
thanks for the video. really nice scan. btw do you have a video for high premium covered call scan?
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Thanks for watching! We’re working on building one and can make a similar video, however you’ll find that a lot of options will high put premiums will also have corresponding high option premiums
@hishailesh77
@hishailesh77 2 жыл бұрын
Great explanation, thanks a lot !.
@stephtraveler7378
@stephtraveler7378 7 ай бұрын
Very good info and screener. After all that screening, you still have to pull back and look at the stock and determine if you are comfortable holding it. (The Buffet test). Is it a good company test....
@thehourglasstrader9280
@thehourglasstrader9280 6 ай бұрын
Very true! We talk about this a little further in the series but this is certainly not a list of great companies. That next step of diligence is very important.
@housepartyCarm
@housepartyCarm Жыл бұрын
What's in the scan that tells Thinkorswim we are just looking for Puts? How would we scan for high premium out of the money calls ?
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
Great question! RoR is a metric that only applies to puts, so when we scan for that it will only bring us puts. When we see a ticker on this list with high premium puts, typically (almost every time) the calls will have high premiums as well. So it essentially works for both b
@ahmedabduljabar6269
@ahmedabduljabar6269 Жыл бұрын
Great video thank you! Is that scanner/screener free to use? If not do you have a similar scanner/screener that is completely free that I can use? Thanks!
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
Thanks for watching! And yes this scanner can be used for free by downloading TD Ameritrade’s Thinkorswim software
@ahmedabduljabar6269
@ahmedabduljabar6269 Жыл бұрын
@@thehourglasstrader9280 thank you sir! I will try it when I finish work and get home. Again thank you so much for the quick response :)
@olenaromanchuk2021
@olenaromanchuk2021 6 ай бұрын
Dude you should have shared your scan in the video. It would have been helpful. Can you still add the share link on the description?
@sidewalkadventures6622
@sidewalkadventures6622 2 жыл бұрын
Great video. Thanks for sharing. How do you scan for calls?
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
In theory the calls should be the same as the options. In fact, selling a cash secured put in the money is the same as selling a covered call at that strike
@jschro446
@jschro446 3 жыл бұрын
So you ran this scan on a Friday. Do you typically run these scans on Friday, and then sell your puts on that same Friday? Or do you wait until Monday morning to enter your trades?
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
I like to enter trades (for the following week) on Fridays. That way you get a full weekend of theta decay to help you out. And while I ran this scan on a Friday for the video, I’ll typically look at it anytime during the week that I’m looking for a trade.
@TheHarveySpectre
@TheHarveySpectre Жыл бұрын
@@thehourglasstrader9280 Good point. Theta decay happens even on weekends when markets are closed.
@RicardoHernandez-zr1pw
@RicardoHernandez-zr1pw 2 жыл бұрын
I just trade TQQQ, SOXL, TNA, & UPRO. Would using a scanner help me if I trade the same ETFs every month?
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
Using a scanner is to help you find new trades every week. Which it’s something I would encourage you to do as those stocks you mentioned are very dangerous
@RicardoHernandez-zr1pw
@RicardoHernandez-zr1pw 2 жыл бұрын
@@thehourglasstrader9280 I’ve been trading them consistently for a year already. Haven’t had any issues with them yet. I like that they’re not tied to any single company and are diversified in some fashion. I’m more worried about investing in a single company and that it’ll not perform as expected such as PLTR which I am down on. That’s why I’m focused on ETFs trades and investments now. I also own VTI, SPHD, QQQJ, VYM, KO, COLD, and a few others for long term.
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
@@RicardoHernandez-zr1pw the issue isn’t so much ETF’s, but rather that they’re leveraged ETFs. The market has basically gone up in a straight line over the past 18 months. The second things turn around people who are selling puts on those are going to get crushed
@RicardoHernandez-zr1pw
@RicardoHernandez-zr1pw 2 жыл бұрын
@@thehourglasstrader9280 That’s actually the best time to sell puts on these however. With increased IV or an increase in the VIX. There’s ways to trade these in any market condition. Someday I’ll make a video on how I manage these and trade them.
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
@@RicardoHernandez-zr1pw after the drop, sure. But if you’re selling them week after week and a leveraged ETF drops even more sharply than the overall market you’re going to be holding a pretty big loss. That’s why we think it’s best to avoid leveraged products because the downside is just too great
@happy4ever95
@happy4ever95 2 жыл бұрын
Hi. How do I limit to scan on option with a list of counters
@fredwinslow744
@fredwinslow744 2 жыл бұрын
Can you share or do you have a video that describes what to expect on smart trades for selling puts on one week to one month trades ? Ie how long before you end up assigned stock where by you have no cash to continue with X amount to begin ie $100,000 or $1,000,000 options account- what kind of cash flow you can generate while taking approach to delay/avoid assignment at expense of highest ROR. ETC ? Your approach appears very good and although you so assume some terms and knowledge you speak to the average viewer Thx
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
I think the best thing that can speak to “what to expect” is our profit tracker. Since mid-2020 we’ve publicly tracked every single one of our trades. 2022 has obviously been a tough year in the market but we’re still +88% since we started tracking so don’t let the larger $$ losses this year scare you. This has been the worst start to a year ever for a market so this is a good picture of what “worst case” looks like, and we’re still about in line with NASDAQ. Here is the link: docs.google.com/spreadsheets/d/1LYRWoB-YsB0_c-gqiW0vZjMjCcpOR7Mj1QqcPUTCHLU/edit#gid=1311103808
@MS-jx5su
@MS-jx5su 2 жыл бұрын
In the Search Results display, I'm just getting the stock symbol not the option's symbol. What did you do to display the specific option's symbol? Thanks
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
If you look too right of the results there should be a drop down menu for stocks, options, or stocks and options. You’ll want to select “Options”
@cathyhirzel3751
@cathyhirzel3751 2 жыл бұрын
Excellent info! Thank you!
@stockoptionsprophet146
@stockoptionsprophet146 11 ай бұрын
LOL so GME was the highest return on risk... Funny how that turned out! Has anyone seen the movie about it called "Dumb Money"?
@telex0682
@telex0682 2 жыл бұрын
This Ameritrade is very useful and full of information. I am learning it and wonder those option scan results, how do you determine is a sell or buy options? thanks in advance.
@C00ltronix
@C00ltronix Жыл бұрын
You want to sell puts to make money. Buying means loosing > Theta decay - time is hard to beat.
@Kingcob7
@Kingcob7 Жыл бұрын
The "you asked for a lot of stuff" warning is actually just because you set it to 2000, it doesn't actually have anything to do with how many results you get or how many you could have gotten. Kind of a silly feature.
@samholder196
@samholder196 2 жыл бұрын
awesome info -- thanks man
@tisurmaster
@tisurmaster 3 жыл бұрын
Is there a good studies filter? I added price filtert to 20 dollars or higher, but that doesn't filter out the gamestop and amc kind of stocks.
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Well that’s just depends what you’re trying to get at. Those have some insane premiums, and that’s exactly what we’re trying to find with this scan. However we agree that those aren’t the best to trade so our next video will be about interpreting the results of the scan and picking a trade
@lucibee77
@lucibee77 Жыл бұрын
This scanner for put options?
@ddt77ta
@ddt77ta 2 жыл бұрын
Why don’t simply sort the shortlisted options (say liquid ones with delta below 5%) by bid option price / simple moving average (of the option price)? This could be implemented in the option hacker as a customizable metric if I’m not wrong
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
You definitely can do that. Sometimes the list gets a little long and can be tougher to work with because it slows the software down or it can be tougher to work with in excel if you’re planning to export the results to a spreadsheet. Shortening the scan from the start solves that.
@nickmaina6165
@nickmaina6165 3 жыл бұрын
Hey I wonder if you can help me out? could you tell me how I can invest in U.S. markets if I'm outside and live outside the Us. Meaning I don't have a us social security. Thanks
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Yeah there are several different brokerages that will let you invest in the US market. I know Interactive Brokers is one so I’d look into that
@ahmedabduljabar6269
@ahmedabduljabar6269 Жыл бұрын
Is the Discord still free to join? if yes can you please provide the link? Thanks!
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
Yes, free to join the main chat. Link should be in the description of the video
@lucibee77
@lucibee77 Жыл бұрын
I can’t find link of discord,
@jaynguyen1491
@jaynguyen1491 3 жыл бұрын
can you do call option one?
@matthewellis3004
@matthewellis3004 3 жыл бұрын
Exactly what I’m looking for, thank you. Wondering if you are a fan of Tasty trade and Soznoffs trading style of trade small , trade often.. sell premium with approx 45DTE and close trade near 21 DTE etc. ? 🤘
@vikasgupta1828
@vikasgupta1828 3 ай бұрын
Thanks
@araakin7765
@araakin7765 3 жыл бұрын
hello, has the 2nd prt of this video been made. if so, please direct me to the title. Thanks
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
It has not yet but I’m planning on making it this weekend! Been super busy lately
@araakin7765
@araakin7765 3 жыл бұрын
@@thehourglasstrader9280 ok will look out for it. If possible please include buying calls or puts from the underlying. Great video. Thanks
@travisdt
@travisdt 2 жыл бұрын
is there anyway I can export the list to document?
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
Yeah on thinkorswim there’s a drop down menu in the top right part of the screen which has an “export” option
@telex0682
@telex0682 2 жыл бұрын
which option screener do you recommend? there are too many in the market.
@thehourglasstrader9280
@thehourglasstrader9280 2 жыл бұрын
I use the option scanner built in on Thinkorswim, which is what is shown in the video. It's available free of charge for anyone with a TD Ameritrade account, which is also free to set up. You don't even need to deposit any money!
@telex0682
@telex0682 2 жыл бұрын
@@thehourglasstrader9280 thank you very much. I live in Canada, is this Aneritrade only available in US?
@telex0682
@telex0682 2 жыл бұрын
Nvm, I managed to open one. Thank you very much.
@contactcpl5729
@contactcpl5729 2 жыл бұрын
thank, very usefull
@Jeff-mn2ws
@Jeff-mn2ws Жыл бұрын
when do you run this scanner?
@acp7328
@acp7328 Жыл бұрын
What is the significance of color? Some are green others are red?
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
I believe red means the individual option itself has decreased in value while green means it has increased in value
@RemodelSalesSecrets
@RemodelSalesSecrets 3 жыл бұрын
10:00 Aged well xD
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
If only we had known
@sef2273
@sef2273 2 жыл бұрын
Dude it aged amazing lol
@Rebel-from-Hell
@Rebel-from-Hell Жыл бұрын
thank you
@lieren410
@lieren410 Жыл бұрын
Does this work the same way with call premium?
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
Yes it does. High put premiums almost always mean high call premiums
@lieren410
@lieren410 Жыл бұрын
@@thehourglasstrader9280 awesome thanks love your content just started following 🤙
@tombickers3519
@tombickers3519 Жыл бұрын
Awesome thankyou
@mistletoe91
@mistletoe91 2 жыл бұрын
Subscribed
@RamRam-cg3rq
@RamRam-cg3rq 2 жыл бұрын
"return on risk" or "return on capital" , I feel the later is the one we need
@matthewellis3004
@matthewellis3004 3 жыл бұрын
please post the follow up video...
@thehourglasstrader9280
@thehourglasstrader9280 3 жыл бұрын
Been super busy lately but will definitely make one soon about how to evaluate the results of the scan!
@msheets5250
@msheets5250 Жыл бұрын
Can I get an invite to your discord channel?
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
discord.gg/Y6Q4qTNR6J
@sef2273
@sef2273 2 жыл бұрын
Bro 9:53 should of sold all the puts in the world and went heavy on calls
@HT.Steven777
@HT.Steven777 Жыл бұрын
This scanner for put option ?
@thehourglasstrader9280
@thehourglasstrader9280 Жыл бұрын
Correct, however if a stock has high put premiums it also likely has high call premiums as well!
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