Re: [TheOptionClub.com] Screening for Strategies

 

Bill - You make a very good point about trading the same stock/index all the time versus finding something new.  Maybe it's just human nature - we're always looking for the next best thing, something better - 'the grass is always greener ' mentality.  I know I spend a lot of time researching different companies and strategies.  Yet when I look back at my spreadsheets, I sometimes come across a trade that I have been doing over and over and over again on the same stock and the returns are just as good if not better overall.  And the effort was minimal after the initial major research and all.  And I agree about the TMI syndrome - I know now to walk away from my PC when my head starts buzzing :).  Good luck with all your trades! - Bob C.

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From: Bill Fletcher <wnfletcher@hotmail.com>
To: OptionClub@yahoogroups.com
Sent: Tue, March 23, 2010 8:27:40 PM
Subject: RE: [TheOptionClub.com] Screening for Strategies

 

I am looking at Dan's TASC article right now, but the post raises an issue in my mind.

 

I have looked at a lot of Dan's stuff, and I have a great deal of respect for his capabilities, (and for his refusal to put ketchup on his hot dogs) but he talks a lot about the fact that his successful students trade the same instruments every month – month in, month out etc. etc.  So if I am going to trade the SPX and the RUT every month, why do I need screening software?  The way I was heading was to pick a couple of large size instruments to keep my commission low, then to pick the strategy based on their behavior.  This is quite different than the "Oh, search engine – find me a nice calendar" approach.  If you use the latter, you then have to do the due diligence on expiration, news etc., which is a big pain in the asset.

 

I am trying to get good at something, and suffering from TMI, right now.

 

Bill

From: OptionClub@yahoogro ups.com [mailto:OptionClub@ yahoogroups. com] On Behalf Of Nick Horowitz
Sent: Tuesday, March 23, 2010 11:17 AM
To: OptionClub@yahoogro ups.com
Subject: RE: [TheOptionClub. com] Screening for Strategies

 

 

www.poweropt. com has a very good screener.  Not sure if it has all those parameters mentioned, but it does have most of them.  They are supposedly adding a double calendar/double diagonal screen soon.

 

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From: OptionClub@yahoogro ups.com [mailto:OptionClub@ yahoogroups. com] On Behalf Of RobertH
Sent: Tuesday, March 23, 2010 9:29 AM
To: OptionClub@yahoogro ups.com
Subject: [TheOptionClub. com] Screening for Strategies

 

I was reading an interview with Dan Sheridan this morning, and he had a checklist of the specific criteria he wants to see before putting on a particular spread trade. The criteria involves implied volatility skews, pricing of the spreads, open interest in the options, and a few other things. He said that you need stock screening software with options capabilities. Is anyone familiar with software which will screen for spreads, or maybe an internet site?

Thanks,
RFH

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