Options Screener Recap

Good morning everyone!

I hope you are all enjoying your day in markets. I might not get around to too many articles this week, however today I want to quickly take a look at the Options Screener's performance from the few posts I have made and see if it has been performing worse than expected, better than expected, or neutral.

The original idea is to use the Options Screener to filter for unusual Options Buying activity with the thought that someone always knows something. With my utility (built on MooMoo by the way), we can view those individuals trades and do further research to see if they actually do know something.

In today's article, we will take a look to see if they did know something and what happened soon after I mentioned their Options Buying activity.

For reference: The Purple Horizontal Line is around the time the individual(s) took their trades

Unusual 9,400 Call Buyer @.20

Unusual 11,000 Call Buyer @.92

Unusual 18,000 Call Buyer @.47

Unusual 5,000 Call Buyer @1.05

Unusual 13,460 Call Buyer @.49

Unusual 10,000 (2x) Call Buyers @.80 and .81

16,000 Call Buyer @.48

7,250 Call Buyer @.50

7,250 Call Buyer @.78

6,000 Call Buyer @.73

5,000 Call Buyer @.71

Unusual 10,000 Call Buyer @.28

Unusual 23,750 Call Buyer @ .90

Unusual 7,052 Call Buyer @.21

Unusual 20,000 Call Buyer @.75

Unusual 10,250 Put Buyer @1.09

Unusual 11,700 buyer @.83

Unusual 5,000 buyer @1.18

Unusual 22,500, 7,500(x2), 6,500 buyer @.84 & .86

Unusual 12,000 buyer @1.20

Unusual 7000 buyer @.87

Total Options Activity Alerts: 25

Total Call Activitiy: 24

Total Put Activity: 1

Total Charts: 18

Average Holding Time: 3-5 Days

-Stock above $10

-Not an ETF

-Liquid Options Chart

-Calls not Puts

I chose not to include puts after the first one. Not because of performance, but because I want to work on the Calls Screener first as the overall market is still bullish, but also because valuable Calls are much easier to find than Puts.

The average duraton until ("meaninful") profits is around 3-5 days. This is not a guarentee, but a lot of the time individuals will place large orders before some sort of pending or anticipated news such as earnings or what not. Sometimes, there are large orders before unexpected news, those are the ones which are the most volitile and see larger profits.

A lot of these options expire later on the year, or sometimes not in 2024 and therefore have really not played out at all yet. A factor to consider when looking at the charts as the contracts have infinite potential to gain or lose between now and the expiration date.

It is not necessarily true that the higher the contract volume the better result (so far), especally on the ETFs. This is why more research should be done rather than following a trade blindly.

Overall, I am extremely happy with how the Options Scanner is playing out so far. I might even take a trade soon if I see a really unusual buyer enter the market, of course depending on the charts, price, company performance, ect. There is still a lot more room for improvement, however I think we are off to a good start.

Please be aware that I won't be posting the settings for the Screener, at least for now. There are a few requirements I need to get down with the Screener itself and I would like to post it for our next Follower Goal. I may try another Likes Challenge, however I think the work I have / am putting in is beyond an "reasonably" obtainable Likes Challenge. I wouldn't want to share a half-finished product like an Options Screener anyways!

With that said, thank you for all the support and I hope you all end the day in profit as we continue on the week in the Market