|OptionVue's proprietary market scanning service can help you uncover hidden trade opportunities throughout every trading day.
Stop spending hours scanning lists of options chains searching for trade opportunities, and use the power of OpScan to:
OpScan works with stocks, commodities, currencies, indexes, and bonds - over 4,000 optionable assets. Locating opportunities that
match your needs and trading style can be accomplished in a matter of seconds. And, because you get unlimited scans for one low
monthly or annual charge, you can search the trading universe as often as you like.
All you need to access OpScan is Internet access and the OptionVue 8 software with a valid User ID and password. With OpScan,
you have complete control. Save time and let OpScan help you become more successful at finding good trading candidates.
|The Basics: OpScan works by formulas which query our data base to find your trading opportunities.
There are 12 built-in formulas you can use right out of the box, or modify to suit your own needs. You can also create completely custom
formulas from scratch. Select one or more formulas to run with a simple click in its check box. The titles of our 12 standard formulas are:
|Elements of an OpScan Formula: Formulas are built using the available Parameters and Operators. Each parameter helps you filter the
market to find exactly what you are looking for. OpScan is extremely flexible and helps you filter out unwanted data quickly and effectively.
To help you better understand how OpScan formulas work, let's look at the built-in formula "Exceptional Put/Call Volume Ratio" and explain
what each field does step-by-step.
|Title: This field is simply the name you want to give the formula.
Pick: This field is the heart of the scan as it describes what assets or options you are looking for. Only items that qualify are included in the
report - the rest are filtered out leaving you with the best candidates! This particular scan looks for assets that meet the following criteria:
PVOL$ / CVOL$ > 2.5 means the The Put Dollar Volume divided by the Call Dollar Volume in the asset must be greater than 2.5 today.
The put/call ratio is a widely used indicator of investor sentiment and any number greater than 1 indicates bearish sentiment for this asset.
ATVOL(5) > 200 means the Average Total Volume over the past five trading days is at least 200 contracts per day. This ensures the
candidates will have fairly liquid options. The operator AND means only assets that satisfy both statements will be on the resulting report.
Sort: This field contains a (typically simple) formula that specifies how you want to sort the report results (how qualified items are listed).
PVOL$ / CVOL$ means that assets with the highest Put/Call ratio will be at the top of the results. No manual sorting required!
Show: This field tells OpScan what information you want on the report. All reports automatically include the asset name, symbol, and sort
value. In this report, the Put Dollar Volume and Call Dollar Volume for each of the qualified assets will also be displayed in the final report.
Include: This section allows you to select only those types of assets that you would like to consider.
Max number of items in the report: This lets you enter how many qualified candidates can be listed on the report (Maximum=250).
|Running An OpScan: You can run as many formulas at a time as you want, or run them periodically throughout the day to find new
opportunities. To start, simply check the box next to the formula(s) you want to run and click the "Go" button.
OptionVue 8 then sends the formula to run on our servers. A confirmation dialog box shows that the formula was accepted and the
progress of your scan. Don't blink! OpScan is remarkably fast. A typical scan takes only a few seconds.
When it is finished, the OpScan server sends its official report(s) to your OptionVue 7 software in a designated folder where they can be
viewed or printed at your discretion. Below are the results of an "Exceptional Put/Call Volume Ratio" scan and what it found:
|Some Important Notes on OpScan
Opscan can be used to scan the market based on data for both the underlying assets and their options.
Some of the OpScan parameters are Underlying Specific. This means they pertain to individual assets. For example, LASTU (Last price of
the underlying asset), VOLU (Volume of the underlying asset) and IV (Implied Volatility) are all underlying specific parameters.
Other OpScan parameters are what we call Option Specific. They pertain to individual options. LAST (Last price of the option), VOL (Volume
of the option), and MIV (Market Implied Volatility) are all examples of option specific parameters.
If your Pick formula contains only underlying specific parameters, the result of your scan will be a list of assets. However, if your Pick
formula contains at least one option specific parameter, then the result of your scan will be a list of individual options.
If OpScan finds nothing that satisfies your search criteria, the report will show the statement: No Qualified Items Were Found. Try another
preferred or proprietary formula and search again - it only takes a few seconds.
If the report lists fewer items than you asked for in the Max Number of Items field, it simply means only that many items qualified under
your Pick formula. You can always try new variations and concepts to find what works best for your trading style!
OpScan provides great flexibility in locating good trade opportunities. With OpScan, you have complete control. Save time and let OpScan
help you become more successful at finding good trading candidates.
|There is a substantial risk of loss in trading financial instruments of any kind including stocks, futures and options.
Clients should consider all relevant risk factors, including their own personal financial situation, before trading.
Don't trade with money you can't afford to lose. Past performance is not indicative of future results.
that is displayed on
your report is fully
Simply put all the
wish to see in the
"Show" field of
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