Watch list Scan for Option Strike Prices


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Hello Pete,

I’ve been searching to see if you’ve created anything similar to this request, but haven’t found anything at this point.

 

My issue is this.  I’m having to copy and paste multiple consecutive option strike prices for the same expiring day, from TOS option chain into a watch list.

So far I’ve come up with the following scan that a step in a better direction.  Here is my scan example for SPX in this case (added screen shot).  I’m still researching to see if you have a Think Script that can make this easier.

  • Day of an selected Option for a particular day of choice (using “Days to exp” criteria)
  • Option Strike Prices for that particular day (using “Strike” criteria)
  • Type of Option, CALL or PUT for that particular day (using “Strike” criteria)
  • To return between 7-20 strike prices going from coupe ITM to several OTM strike levels (using “Mark % of underlying)

The problem I’m facing with this scan is I would have to constantly adjust the criteria for example.

If SPX was to get outside the range of 2700 – 2800 and go up to 2850, I would have to manually readjust that part of the scan criteria to let’s say 2800 – 2900, to get the desired results.

Hoping you can point me in the right direction.  Thank again for all you teachings.

 

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Posted by (Questions: 3, Answers: 3)
Asked on February 24, 2018 12:59 pm
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Your screenshot does not include the top of the screen. So it’s not possible to see which scanner you are using. From the filters you have selected and the results output I am guessing this was created using the Option Hacker scanner. Most posts on this forum are for the Stock Hacker scanner so I wanted to make sure other visitors to his post understand that detail.

As I understand your request. You would like to replace the filter used to select the range of strike prices with some code that would automatically adjust to the price of the underlying symbol.

If it were possible. (sadly, it is not). Then you would use the following line of code in the custom study filter:

GetStrike() is less than 2800 and GetStrike() is greater than 2700

Then you would replace those values with some mathematical computations to adjust their values based on the current price of the underlying. You can test this line of code to prove that it is impossible to do this with the current tools available in Thinkorswim.

Since this is the most basic of your several goals I can pretty much assure you that we can do nothing to approach your desired end point. But you never know, might be possible at some point in the future. That will take some effort from the developers at Thinkorswim.

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Answered on February 24, 2018 2:01 pm
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Sorry I did not copy the additional details; will make note of that for future references.

I’ve added the picture anyway just as a FYI, thanks Pete.

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Posted by (Questions: 3, Answers: 3)
Answered on February 24, 2018 3:12 pm