Scan for SPX 0DTE options with high volume



Is it possible to create a dynamic watchlist for SPX 0dte option alerts? What im trying to accomplish is getting alerted when an option contract has a volume spike over 1,000 contact per minute after 3:30pm to 4:00pm eastern. I have a scan for SPX 0dte just need a way to get alerted when contracts have 1,000+ volume per minute.

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Posted by (Questions: 1, Answers: 0)
Asked on May 11, 2024 4:12 pm
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Sorry to bring you the bad news that this is not possible using the current version of Thinkorswim. I will explain what would need to be done to complete this scan, in the hopes that one day Thinkorswim may be updated to make this sort of scan possible. And the more people read this post the more likely that Thinkorswim will eventually be updated to support this. But it would also require a larger number of people to report this as a feature request to Thinkorswim developers.

First up, you would need to use the "Options Hacker" scan. And this tool would seem to be perfectly suited for custom scans of the type you described. But the problem is your solution would require the use of a custom script.

And when we add a Study Filter to the Options Hacker and apply a custom script to that Study Filter, the filter only reads data from the underlying ticker symbol. The custom script is NOT able to read any data from the individual options contracts included in your scan.

The script itself would be very simple to create. And if Thinkorswim enables this in the future I will be very happy to provide that as an update to this post.

For those wishing to submit a feature request to Thinkorswim developers, here is what you would need to ask for (You can copy/paste this into your feature request or create your own):

The current Options Hacker scan is only able use custom scripts that read data from the underlying ticker symbols. Add a new feature to the Options Hacker scan which enables users to add a custom script to a study filter which is able to read data of each individual options contract from those underlying ticker symbols.

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Posted by (Questions: 37, Answers: 4097)
Answered on May 11, 2024 4:22 pm