Any stock in the s&p 500

Screening Filters

1. is_index_component: ['GSPC']

   • Purpose: Limit results to stocks that are constituents of the S&P 500 index.
   • Rationale:
     • Your question explicitly asks for “any stock in the S&P 500 index,” so this filter is essential.
     • It ensures every result is an S&P 500 member, excluding mid/small caps or non-index names that may be less stable or liquid.

2. list_exchange: ['XNYS', 'XNAS', 'XASE'] (NYSE, Nasdaq, AMEX)

   • Purpose: Restrict results to major U.S. exchanges.
   • Rationale:
     • Day traders need tight spreads and fast execution; these major exchanges generally offer better liquidity and infrastructure.
     • It avoids OTC and less-regulated venues where liquidity and pricing can be problematic.

3. price: {'min': '20', 'max': '200'}

   • Purpose: Focus on mid-priced stocks.
   • Rationale:
     • Under ~$20, many stocks can have wider spreads, more slippage, and “penny stock–like” behavior—less ideal for precise day trading.
     • Above ~$200, position sizing becomes harder for small accounts (fewer shares, larger capital per share) and intraday moves may require more capital to trade effectively.
     • The $20–$200 range balances affordability with quality and tends to yield highly liquid, institutionally followed names.

4. relative_vol: {'min': '1.5'}

   • Purpose: Find stocks trading with significantly higher volume than usual today.
   • Rationale:
     • Relative volume compares today’s trading activity to its own historical average (e.g., 1.5× normal activity).
     • Elevated relative volume usually signals news, catalysts, or increased trader interest—key ingredients for intraday price movement and reliable liquidity.
     • This is particularly relevant for day trading, where you want names that are “in play” today, not just generally liquid.

5. monthly_average_dollar_volume: {'min': '5000000'}

   • Purpose: Ensure stocks have strong baseline liquidity over time.
   • Rationale:
     • Dollar volume = price × shares traded; a higher number means more money flowing through the stock daily.
     • A minimum of $5M average dollar volume filters out thinly traded names, which can have large bid–ask spreads and be hard to enter/exit quickly—bad for day trading.
     • This works together with relative volume: one ensures usual liquidity, the other ensures today’s activity is elevated.

6. price_change_pct: {'min': '2', 'max': '8'}

   • Purpose: Target stocks moving meaningfully, but not excessively, on the day.
   • Rationale:
     • For day trading, you generally want some intraday movement; a 2%+ move suggests there is enough volatility to potentially trade.
     • Capping at 8% avoids extreme moves where spreads can widen, slippage can be severe, and risk becomes harder to control—especially for newer or smaller day traders.
     • This range tries to find a “sweet spot” of tradable volatility: not flat, not out-of-control.

Why Results Match Your Request

• The S&P 500 filter (is_index_component: 'GSPC') directly aligns with your request to focus only on S&P 500 stocks.
• The exchange, price, and liquidity filters (exchange list, $20–$200 price, $5M+ dollar volume) tailor the list specifically to day-trade-friendly names: easier fills, tighter spreads, and manageable position sizing.
• The relative volume and daily price-change filters ensure that, among S&P 500 stocks, you see those that are actually moving and active today, which is critical for finding usable intraday setups rather than stagnant names.

Together, these filters try to surface liquid, actively traded S&P 500 stocks with intraday movement that are more suitable candidates for day trading than a random index constituent.