Screening Filters
Price: 30–50 USD
- Purpose: Limit the universe to stocks trading between $30 and $50 per share.
- Rationale:
- You explicitly asked for “$30–50 ETF’s and blue- [chip] stocks,” so the price band is correctly captured.
- Keeping the price in this range helps align the underlying with the type of option contracts you’re targeting (ATM or slightly ITM strikes in a moderate dollar range, which usually keeps option premiums more manageable).
Volume: ≥ 1,000 (stock trading volume)
- Purpose: Require that the underlying stock trades at least 1,000 shares per day.
- Rationale:
- You specified option volume ≥ 1,000 and open interest ≥ 500 to ensure liquidity at the contract level.
- While the screener cannot directly filter on options volume or open interest, minimum stock volume is a reasonable proxy: actively traded stocks are more likely to have liquid options chains with tighter spreads.
- This helps move us in the direction of underlyings whose options are more likely to meet your liquidity needs.
List of Exchanges: XNYS, XNAS, XASE (NYSE, NASDAQ, AMEX)
- Purpose: Restrict results to major US exchanges.
- Rationale:
- Most “blue-chip” names and the more established, liquid underlyings (and their options) are listed on these exchanges.
- Avoids less liquid OTC or pink-sheet names, which typically have very poor options markets, wide spreads, and low open interest—contrary to your goals.
What Does Not Match Your Request
Your original criteria for the options contracts were:
- Bid–ask spread: ≤ $0.05 (≤ $0.03 ideal)
- Option volume: ≥ 1,000
- Option open interest: ≥ 500
- Days to expiration (DTE): 20–45 days
- Strike: ATM or slightly ITM
- Underlying universe: $30–50 ETFs and blue-chip stocks
The current filters do not directly implement:
- Option bid–ask spread
- Option contract volume
- Option open interest
- DTE (20–45 days)
- Strike moneyness (ATM / slightly ITM)
- A direct “blue-chip only” indicator
- A direct “exclude ETFs” flag
Our screener system does not support options-level metrics or qualitative tags like “blue-chip” at the screening stage, nor an explicit ETF exclusion in the filters shown here. It operates on the underlying securities using basic fields like price, volume, and exchange.
Why the Applied Filters Are Still Useful
- Align with your price band: The $30–50 price filter correctly reflects your desired underlying price range, which influences where ATM/ITM strikes will sit.
- Improve chances of options liquidity: Requiring minimum stock volume and focusing on major US exchanges tilts the universe toward underlyings that are more likely to have active, tighter-spread options markets—closer to your desired spreads, volume, and OI.
- Practical first step: Even though we can’t screen contracts by spread, DTE, OI, or moneyness, these filters give you a narrower, more liquid list of underlyings. From there, you (or your trading platform) can apply the detailed options filters directly on each symbol’s options chain.
In summary, the filters accurately capture your price range and approximate your liquidity needs using stock-level data on major US exchanges, but they cannot enforce the specific options-contract conditions or the “blue-chip only / no ETFs” requirement.
This list is generated based on data from one or more third party data providers. It is provided for informational purposes only by Intellectia.AI, and is not investment advice or a recommendation. Intellectia does not make any warranty or guarantee relating to the accuracy, timeliness or completeness of any third-party information, and the provision of this information does not constitute a recommendation.