Scan for Call or Put strike X% Above or Below an EMA


TOS Question

Hope I can get some help with setting up a scan for or Call / Put OPTIONS from a selected list of stocks that satisfies the specified criterion of strike price being at X% Above or Below a selected EMA (50 Day or 100 Day etc).

Currently I spend a good deal of time doing the above in Excel after I have narrowed the list down using a bunch of other criterion in TOS. Some of the other criterion which I already use in TOS to first narrow the list include Imp Vol levels, and Last price above/below 50D EMA. Those parameters are very easily setup in TOS, but I am stumped with comparing the STRIKE price of the option with the EMAs. LOL, now its become a quest to come up with the coding, regardless of how useful or useless this strategy might be!

Hoping to get guidance from the gurus.


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Posted by (Questions: 1, Answers: 0)
Asked on January 24, 2018 12:27 pm

First thing I did was to shorten up that title a bit. Only need to give the general context in briefest terms. Try to avoid using punctuation and special characters in a question title unless absolutely necessary.

Do I understand correctly you would like this scan to return a list of options contracts, and not stocks? That you would like the scan results to consist of a list of options contracts, whose strike price is a specified percentage from an exponential moving average of the underlying stock?

If that is correct, we may not have any tools in Thinkorswim to build a scan for this. We have the Stock Hacker, that returns a list of stock symbols. We have the Option Hacker, that returns a list of options contracts. Neither of these gives us access to available strike prices for a given symbol. The only thing that comes to mind at the moment, would be to create a custom column in the option chain, under the Trade tab of Thinkorswim.

( at January 24, 2018 2:33 pm)