Introduction to the Options Screener

The OpenBB options screener is a versatile discovery tool for an options trader. It is powered by the Open Source Community: https://github.com/Tyruiop/syncretism - go give this repository a star!

The Options Screener Menu

The screener makes use of presets (.ini files) that are stored locally in the OpenBB installation folder.

~/Applications/OpenBB/openbb_terminal/stocks/options/presets/

The folder containing preset files

The file named template.ini is a blank slate and ready for experimentation. There are nearly infinite ways to configure an options search, so customize one and then share it with us on social media! Have a look at the available fields:

# Author of preset: OpenBB Terminal
# Description: This is just a sample. The user that adds the preset can add a description for what type of stocks these filters are being used.
[FILTER]

# tickers [string]: a list of space or comma separated tickers to restrict or exclude them from the query.
# E.g. "GME" or for multiples "AMC","BB","GME".
tickers =

# exclude [true|false]: if true, then tickers are excluded. If false, the search is restricted to these tickers.
exclude =

# min-diff [int]: minimum difference in percentage between strike and stock price.
min-diff =

# max-diff [int]: maximum difference in percentage between strike and stock price.
max-diff =

# itm [bool]: select in the money options.
itm = true

# otm [bool]: select out of the money options.
otm = true

# min-ask-bid [float]: minimum spread between bid and ask.
min-ask-bid =

# max-ask-bid [float]: maximum spread between bid and ask.
max-ask-bid =

# min-exp [int]: minimum days until expiration.
min-exp =

# max-exp [int]: maximum days until expiration.
max-exp =

# min-price [float]: minimum option premium.
min-price =

# max-price [float]: maximum option premium.
max-price =

#min-strike [float]: minimum option strike.
min-strike =

#max-strike [float]: maximum option strike.
max-strike =

# calls [true|false]: select call options.
calls = true

# puts [true|false]: select put options.
puts = true

# stock [true|false]: select normal stocks.
stock =

# etf [true|false]: select etf options.
etf =

# min-sto [float]: minimum option price / stock price ratio.
min-sto =

# max-sto [float]: maximum option price / stock price ratio.
max-sto =

# min-yield [float]: minimum premium / strike price ratio.
min-yield =

# max-yield [float]: maximum premium / strike price ratio.
max-yield =

# min-myield [float]: minimum yield per month until expiration date.
min-myield =

# max-myield [float]: maximum yield per month until expiration date.
max-myield =

# min-delta [float]: minimum delta greek.
min-delta =

# max-delta [float]: maximum delta greek.
max-delta =

# min-gamma [float]: minimum gamma greek.
min-gamma =

# max-gamma [float]: maximum gamma greek.
max-gamma =

# min-theta [float]: minimum theta greek.
min-theta =

# max-theta [float]: maximum theta greek.
max-theta =

# min-vega [float]: minimum vega greek.
min-vega =

# max-vega [float]: maximum vega greek.
max-vega =

#min-iv [float]: minimum implied volatility.
min-iv =

#max-iv [float]: maximum implied volatility.
max-iv =

#min-oi [float]: minimum open interest.
min-oi =

#max-oi[float]: maximum open interest
max-oi =

#min-volume [float]: minimum volume.
min-volume =

#max-volume [float]: maximum volume.
max-volume =

#min-voi [float]: minimum volume / oi ratio.
min-voi =

#max-voi [float]: maximum volume / oi ratio.
max-voi =

# min-cap [float]: minimum market capitalization (in billions USD).
min-cap =

# max-cap [float]: maximum market capitalization (in billions USD).
max-cap =

# order-by [default: e_desc]: how to order results, possible values:
#     e_desc, e_asc: expiration, descending / ascending.
#     iv_desc, iv_asc: implied volatility, descending / ascending.
#     lp_desc, lp_asc: lastprice, descending / ascending.
#     md_desc, md_asc: current stock price, descending / ascending.
order-by =

# limit [int]: number of results (max 50).
limit =

# active [true|false]: if set to true, restricts to options for which volume, open interest, ask, and bid are all > 0.
active =

# [float|int] deviation from the 20 day average
min-price-20d =
max-price-20d =
min-volume-20d =
max-volume-20d =
min-iv-20d =
max-iv-20d =
min-delta-20d =
max-delta-20d =
min-gamma-20d =
max-gamma-20d =
min-theta-20d =
max-theta-20d =
min-vega-20d =
max-vega-20d =
min-rho-20d =
max-rho-20d =

# [float|int] deviation from the 100 day average
min-price-100d =
max-price-100d =
min-volume-100d =
max-volume-100d =
min-iv-100d =
max-iv-100d =
min-delta-100d =
max-delta-100d =
min-gamma-100d =
max-gamma-100d =
min-theta-100d =
max-theta-100d =
min-vega-100d =
max-vega-100d =
min-rho-100d =
max-rho-100d =

How to use the Options Screener

The commands set and view will show the filters present. The command reads the contents of the preset file every time the command is called, which makes changes fast and easy; simply open it in a text editor.

(🦋) /stocks/options/screen/ $ set TSLA_Calls_90Days

(🦋) /stocks/options/screen/ $ view TSLA_Calls_90Days

 - FILTER -
tickers    : "TSLA"
exclude    : false
itm        : true
otm        : true
min-exp    : 3
max-exp    : 90
calls      : true
puts       : true
stock      : true
etf        : true
min-delta  : 0.30
max-delta  : 0.65
order-by   : "oi_desc"
active     : true

The columns for the output of the screener have been abbreviated to be:

CS: Contract Symbol; S: Symbol, T: Option Type; Str: Strike; Exp v: Expiration; IV: Implied Volatility; LP: Last Price; B: Bid; A: Ask; V: Volume; OI: Open Interest; Y: Yield; MY: Monthly Yield; SMP: Regular Market Price; SMDL: Regular Market Day Low; SMDH: Regular Market Day High; LU: Last Trade Date; LC: Last Crawl; ITM: In The Money; PC: Price Change; PB: Price-to-book.

The default number of results returned is 10, add the -l flag with the number of desired results to change.

Options Screener preset: Highest OI

Examples

Using the preset, “3DTE_Degenerate”:

Options Screener preset: 3DTE_Degenerate

Using the preset, “SPY_ATM_POOTS”:

Options Screener preset: SPY_ATM_POOTS

The video below shows the process for building an options screener preset. Any simple text editor will work to make changes. Build a preset and share it with OpenBB on social media!

Options Template Screener Demo

Back to: Introduction To Options Guide