Options prices as % of stock price

StockGuru71

New member
I am trying to find or create a scanner to find Options at a certain percent of the actual stock price. Does anyone know where I can find a similar scan or get some help creating on? Thanks

ex: I want to search all options trading at 1% of the actual stock price. Then can change the % to whatever I like.
 
Solution
I'm new to options... looking for something of a 2-3 week swing type ... You said you have scanners? I can't find them... could you help? Thanks!

@Ronathan Edwards Here is the Option Scan that I use... Modify it to your needs...

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rad14733

Well-known member
VIP
@StockGuru71 Welcome to the usethinkscript forums... I doubt you'll find anything like that here in the forums - and for good reason... Perhaps you could take some time to explain your logic and strategy on this because it sounds counterintuitive to how Options are traded... I have several scans for options which are intended to find Options that meet optimal criteria for trading but none are based off of Stock price percentage... It would be difficult to help without understanding what it is that you are attempting to accomplish...

What will your Options trading style be, scalping, day trading, swing trading, or longer term...??? Have you traded Options before...??? What is your trading experience...??? What general strategies are you looking to trade...??? All are relevant questions...
 

StockGuru71

New member
@StockGuru71 Welcome to the usethinkscript forums... I doubt you'll find anything like that here in the forums - and for good reason... Perhaps you could take some time to explain your logic and strategy on this because it sounds counterintuitive to how Options are traded... I have several scans for options which are intended to find Options that meet optimal criteria for trading but none are based off of Stock price percentage... It would be difficult to help without understanding what it is that you are attempting to accomplish...

What will your Options trading style be, scalping, day trading, swing trading, or longer term...??? Have you traded Options before...??? What is your trading experience...??? What general strategies are you looking to trade...??? All are relevant questions...
Well it’s important to buy an option at a low price if possible. I always like to know at what percent of the stock price I am spending for the option. It’s extremely important.

I trade mostly longer term options (60-250 days). I prefer them to have a much better success of being ITM.

My experience is long with stocks but trade options a lot also. Always looking for a low price to get in with a higher volatility. That ends up being more profit to the upside.

I am new to scripting and would like to set up a scan for options that looks at the stock price vs the option price but as a percentage.

Hope you understand and don’t mind helping. It will help out plenty of people with options. I am also looking for a good scan to help day or week trade SPY. Can you help there also sir?

Thank you
 

rad14733

Well-known member
VIP
My trading style is scalping and SPY is a great asset to scalp... I've never traded options any further out than swing trades... Always glad to help with options, although I've never been interested in anything other than simply trading Calls and Puts rather than strategies like spreads, etc...
 
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StockGuru71

New member
My trading style is scalping and SPY is a great asset to scalp... I've never traded options any further out than swing trades... Always glad to help with options, although I've never been interested in anything other than simply trading Calls and Puts rather than strategies like spreads, ect... I'd need to look into longer term concepts which is fine...
I’d love to see a scalping scanner for spy or any stock for swing trades. I’d like to play some faster options also.
Could you help me with a script that will search a stock option cost by percentage of the stock price itself? Much appreciated
 

us3r001

New member
OK hope it's interesting enough for the whole community.

You know a certain breakout price of a stock.
What order would you create if you wanted to buy the (ATM) strike of the nearest call contract with minimum 14 DTE ?
 

rad14733

Well-known member
VIP
OK hope it's interesting enough for the whole community.

You know a certain breakout price of a stock.
What order would you create if you wanted to buy the (ATM) strike of the nearest call contract with minimum 14 DTE ?

In reality, writing the code for that would be somewhat daunting for a Conditional Order... Not that it couldn't be done... The issue is that Thinkscript doesn't have simple Date/Time functions so it takes a lot of convoluted code to do what those of us who have programmed in multiple other languages can do with relative simplicity... If you are looking for ideas then I'd suggest reviewing this topic... I use a modified version of the code which is posted here...
 
My trading style is scalping and SPY is a great asset to scalp... I've never traded options any further out than swing trades... Always glad to help with options, although I've never been interested in anything other than simply trading Calls and Puts rather than strategies like spreads, etc...
I'm new to options... looking for something of a 2-3 week swing type ... You said you have scanners? I can't find them... could you help? Thanks!
 

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