Best screener for 1 week naked calls

Screening Filters

1. market_cap ≥ $10,000,000,000 & market_cap_category: ["large"]

   • Purpose: Focus on large-cap, established companies.
   • Rationale:
     • Naked calls carry theoretically unlimited risk, so you generally want more stable, less “explosive” names.
     • Large-cap stocks tend to have lower gap risk, more predictable price behavior, and tighter option markets than small caps.
     • This helps reduce the chance of extreme one-week moves that can quickly blow through your short call strike.

2. monthly_average_dollar_volume ≥ $1,000,000

   • Purpose: Ensure the underlying stock is sufficiently liquid.
   • Rationale:
     • Higher dollar volume usually means tighter bid–ask spreads and better execution for both stock and options.
     • For weekly naked calls, you may need to manage or adjust quickly; liquidity is crucial for entering/exiting at fair prices and reducing slippage.

3. list_exchange: ["XNYS", "XNAS", "XASE"]

   • Purpose: Limit to major U.S. exchanges (NYSE, NASDAQ, AMEX).
   • Rationale:
     • These exchanges list the most actively traded, well-regulated U.S. equities with the deepest and most developed options markets.
     • This increases the likelihood of having tight option spreads, multiple strikes/expirations, and reliable pricing—important for weekly options trading.

4. one_week_rise_prob ≤ 45

   • Purpose: Tilt toward underlyings with a relatively lower modeled probability of rising over the next week.
   • Rationale:
     • For 1-week naked calls, your ideal scenario is the stock staying flat or moving down, so the call you sold decays and expires worthless.
     • Capping the 1-week rise probability at 45% filters out names with a strong short-term bullish expectation, making them less suitable for selling naked calls.
     • This doesn’t guarantee the stock won’t rise; it only biases the list toward names where the short-term upside odds look more modest.

5. is_optionable: True

   • Purpose: Only include stocks that actually have listed options.
   • Rationale:
     • Naked calls are an options strategy; if a stock isn’t optionable, it’s irrelevant.
     • This basic filter removes non-optionable stocks so everything in your results is directly tradeable via options.

6. option_iv_rank ≥ 50

   • Purpose: Focus on stocks whose current implied volatility is elevated relative to their own past (IV rank at or above 50).
   • Rationale:
     • As a naked call seller, you’re a net option premium seller; you want to collect rich premiums.
     • Higher IV rank typically means options are relatively expensive compared to the stock’s historical volatility environment.
     • This enhances the credit you receive for 1-week calls and can make time decay (theta) more attractive, provided you’re comfortable with the increased risk associated with higher volatility.

Why Results Match Your Goal of 1-Week Naked Call Opportunities

• The screener focuses on liquid, large-cap U.S. stocks with well-developed options markets, which is important for managing the high risk of naked calls and getting fair prices.
• It biases toward names with elevated implied volatility, so you’re selling calls where the premium is relatively high for a one-week horizon.
• It filters out stocks with a higher short-term rise probability, aligning with the neutral-to-bearish stance you want when selling naked calls.
• Every stock that passes is optionable and actively traded, making them more practical candidates for executing and managing short-dated naked call positions.