Strangle Candidate Finder

Symbol Expiration Call
Strike
Stock Put
Strike
Call
Premium
Put
Premium
Div Days Break-Even Downside
Protection %
Call Above
Stock %
Put Below
Stock %
Return If
Unchanged %
Return If
Called %
Annualized If
Unchanged %
Annualized If
Called %
Filter
Downside Protection At least % below current stock price.
Return If Expires Unchanged At least % of stock and put strike price.
Annualized Return If Expires Unchanged At least % of stock and put strike price annualized.
Return if Called At least % of stock and put price.
Annualized Return If Called At least % of stock and put price annualized.
Filter
Call Strike Price At least % above current stock price.
Put Strike Price At least % below current stock price.
Max Time Frame Expiring in month(s) or less.
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Data Source
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Calculate on

Choose to calculate on Bid, Ask, Last or Bid/Ask Split: the value between bid and ask, best estimate of premium you could collect

Div

Dividends until Expiration. Considered part of the return if you are holding the stock and writing covered calls.

Break-Even $

Stock price minus the option premium paid to you

Downside Protection %

Break-Even price over current stock price.

Call Above Stock %

How far the call strike is from the current stock price. The higher the number, the least likely your stocks will get called away.

Put Below Stock %

How far the put strike is from the current stock price. The higher the number, the least likely your put will be assigned.

Return If Unchanged %

Average of call premium over stock price and put premium over put strike price. Your absolute return if the stock does not move by expiration.

Return If Called %

Premium plus stock appreciation over current stock price plus put premium over put strike price. Your absolute return if the call got called away.

Annualized If Unchanged %

Return If Unchanged on an annualized basis.

Annualized If Called %

Return If Called on an annualized basis. Be careful on this one: if your Call Above Stock is high and it is set to expire soon, this number will be unrealistically high. Meaning the chances of this occurring might be low. Consider using Annualized If Unchanged as a safer assumption.

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