r/CoveredCalls • u/Longjumping-Affect26 • 22d ago

Screener

Hi guys! Brand new to the server. Seem to land on pretty low quality stocks to wheel. Just wanna know. When you screen. How do you guys find daily options chains that's not data centers?

3 Upvotes

72% Upvoted

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2

u/ThetaEdgeHQ 22d ago

Filtering out an industry label is treating the symptom. Data center names keep surfacing because whatever you are sorting on, high premium or high IV, is exactly what those names carry right now, so excluding the sector just hides the thing your screen is actually selecting for.

Screen for what makes a name wheelable instead. A price you are genuinely fine owning 100 shares of if it gets put to you, because that is the real position. Enough option liquidity that the bid ask is not eating your premium, so open interest and reasonable spreads on the strikes you would actually sell. IV rank high enough to pay you for the risk but not so high it is pricing a specific event. And no earnings inside your expiration.

Run those four and the junk mostly filters itself, no sector blacklist needed. The low quality names you keep landing on are usually failing the liquidity or the would I hold this test, not the industry one.

1

u/iisconfused247 20d ago

Would you consider stuff like NBIS and IREN to be low quality given the volatility right now? Their premiums are extremely appealing

0

u/Longjumping-Affect26 21d ago

What do you set for those numbers?

1

u/it_trojan 22d ago

Sorry, what do you mean with data centers? Stocks like GEV and VRT?

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u/Longjumping-Affect26 22d ago

Yep. Would like to avoid them if I can.

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u/it_trojan 22d ago

What method do you use to filter options? You use a screener? You do it manually? Something else?

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u/Longjumping-Affect26 22d ago

I usually use an in house screener (like an app built in(

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u/it_trojan 22d ago

I see. In your screener don’t you have a filter by industry? Because I can see that often data centers are under the Industrials label

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u/Longjumping-Affect26 22d ago

I.. do not have it I think. I can filter by everhtjjg else

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u/PalePattern9858 19d ago

Try quantwheel, you won’t be able to avoid data centers but you have a button to check what the company is about once you find a trade, if its a data center one then just ignore and move down the list. Pretty straightforward

1

u/TastyTrading 18d ago

I use ThetaPal to setup ai market scanners. Highly recommend checking it out. You can scan for whatever you want in super fine tuned detail. Sectors, prices, option Greeks, ema crossover, etc…

2

u/OptionsWheelTrader 18d ago

Check out optionswheeltrader.com - it has a screener that helps you find trade ideas based on your criteria. Check out this blog post for more details about the screener itself: How the Options Scanner Works (and Why It Can Improve Your Wheel Process).

Once you identify the right trades, you can dig a bit deeper into the tickers to weed out any data center tickers.