Scan Trades Tutorial

What can I do on this page?

Every night we scan all stocks with options to find high probability of profit trades as explained in our Trading System Tutorial. On this page is the Scan Trades Tool that includes all the data from that nightly process. You can search this data for possible trades that may not have made our final cut.

Using the inputs above, you can search for trades based on cost, probability of reaching breakeven or a particular stock. On the identified trades, you can get delayed quotes by clicking and check the trade for probability of profit based on you volatility projection and profit target by clicking .

Below is an explanation of each input you can adjust.

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Trade Types

Start by clicking the type of trade you would like to search.

All - returns all available trades that meet your specifications
Straddle - buy a call and put with same strike and month
Strangle - buy a call and put with call strike > put strike and months same
Call Backspread - sell call and buy greater number of calls at a higher strike in same month
Put Backspread - sell put and buy greater number of puts at a lower strike in same month
Call Ratio Spread - buy call and sell greater number of calls at a higher strike in same month
Put Ratio Spread - buy put and sell greater number of puts at a lower strike in same month

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Search Parameters

The top three fields determine the trades returned in the search.

• Probability Breakeven - this is the probability you will reach the breakeven price sometime during the trade. Enter any number between 1 and 99. You want this to be as high as possible since this probability is always greater than your probability of profit.
• Historical Frequency - this is the percentage of the time the stock has made the size move required to reach breakeven within the number of days to expiration. If this value is zero, then you are asking the stock to make a move it has never made before.
• Maximum Cost - enter to maximum cost for Straddles and Strangle or minimum credit on Backspreads and Ratio Spreads

Sort by - select how you want the search results sorted.

Return X trades - this is the number of trades returned in the search results and defaults to 5. The allowed input is any positive whole number or all. If you input all then a very large number of trades will be returned.

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Search Limits

Use this input area to search for trades on a particulat stock. The default is any stock. But if you check Limit search to and enter a stock symbol, then the search returns trades for that stock only.

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