Option alerts – what stock options to buy and sell

Asset Last ATR Theta Sigma Alpha

Options screener by OptionClue:

Last update of the screener: UTC.

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Columns of the table

Asset – ticker symbol
Last – the last asset price at the time of indexes calculation
ATR – Average True Range – average intraday asset volatility
Sigma – the value of Sigma index
Theta – the value of Theta index
Alpha – the value of Alpha index

Index Alpha

Alpha index is the option’s attractiveness general index based on Sigma and Theta indexes. It takes into account conditional «high cost» or «cheapness» of options, as well as the market condition and the movement potential (flats, triangles and strong trends).

Alpha index values of 1.0 and lower indicate the «cheapness» of options and attractiveness of their purchases and the opposite index values, ranging from 1.5 and higher indicate their high cost and the ability to sell straddles.

Index Sigma

Sigma index lets you just in minutes find promising assets in a huge stocks list. It shows the market movement potential relative to past prices taking into account current market realities. That lets identify assets with low volatility (flats and triangles) and high volatility (trends).

The index values below 0.8 indicate the existence of an extremely narrow flat and the opposite values, from 1.5 and more, indicate the trend existence.

Index Theta

Theta index allows you to divide options into «cheap» and «expensive» taking into account the option price and recent market volatility.

«Cheap» options can be considered those with a Theta index 1.0 and lower, and «expensive» ones with Theta index from 1.5 and higher.