TC2000 Help SiteSoftware Help Scanning & SortingHow to Scan Up To 10,000 Options

How to Scan Up To 10,000 Options

You can not only view an Option Chain for any optionable stock symbol, but you can populate the chain with options from a list of stocks. Then you can Scan that option list using newly created or saved conditions. Steps to scanning a list of options are below.

1. Right click on the chart and choose Option Chain from the drop down menu

2. This will display the Option Chain for the current active symbol.

3. Click the ticker symbol drop down

4. Select WatchList with the radial button

Note: the steps below to Scan options can be used to scan the options of a single stock symbol. To do so, simply select the ticker symbol instead of a WatchList.

5. Click the WatchList drop down to select any WatchList on which to display an option chain

6. This will display the options for the entire WatchList (up to 10,000 options maximum)

The options will be displayed on the basis of the criteria you have chosen in the option chain: Expiration dates; number of strikes; Calls & Puts. The number of options displayed can be seen at the bottom of the Option Chain.

You can also scan both the stock list and options it produces. For steps to do this, click here.

7. Place a checkmark beside Scan in the WatchList

The checkmark activates the Scan menu from which conditions can be selected or created.

8. Click Select Conditions

To create a new Condition/Condition Set open the Condition editor.

Note: to use scan criteria already created and saved, click the Folder icon to choose from the library.

9. Create the first condition

Click Add condition to open the criteria library from which the condition will be created.

Click the criteria to be used for the condition.

Note: In this example we will build a Condition set looking for options with Open Interest of greater than 300, daily volume of greater than 50 and Options Delta of at least .30.  However, many indicators, options criteria, formula, etc., in the condition criteria library can be used for constructing a condition/condition set.

The condition is set (greater than). Set the Value field to 300

Click OK.

Set the desired Minimum and Maximum values and click OK.

Note: when creating individual conditions, click the Save button to name and add them in the condition library for re-use.

10. Add the next condition

Click  + Add Condition (the example will be: Volume greater than 50 contracts)

6. To add the next condition (Average Volume Greater than 500,000 shares per day) click on + Add Condition.

Use the typing shortcut in the Search field to type part of the word Volume.

Left click on Pre-Built.

Select Volume from the list.

Set the Greater Than value to 50 and click OK.

Set the Greater Than value to 500000 and click OK.

11. Add final condition

Click  + Add Condition (the example will be: Options Delta greater than .30)

6. To add the next condition (Average Volume Greater than 500,000 shares per day) click on + Add Condition.

Use the typing shortcut in the Search field to type part of the word Delta

Left click on Pre-Built.

Select Options Delta  from the list.

Set the Condition (Greater Than) value to .30 and click OK.

Set the Greater Than value to 500000 and click OK.

When constructing Condition Sets, click the Save Condition Set button to name and add the set to the Condition Set library for re-use.

12. Review Results

With the condition set complete, click the Scan button.

The resulting list of option symbols will meet all of the Conditions that were set as part of the Condition Set. The number next to the blue Funnel icon tells how many conditions are in the Condition Set.

The total number of stocks found with the Scan conditions is always at the bottom of the WatchList window.

The options being viewed are those that meet the selected criteria at the top of the option chain window.

The time stamp next to Scanned shows when the Scan was last updated.

The time next to Scanned shows when the EasyScan was last updated.

To refresh the Scan results click the icon which looks like two arrows going in a circle.

To refresh the EasyScan results click the icon which looks like two arrows going in a circle.

Streaming Scans: TC2000 Platinum users can Stream the Scan. This constantly and dynamically refreshes the Scan results in real time.  To stream the Scan click the blue right facing triangle.

Platinum users will be able to Stream the EasyScan which constantly and dynamically refreshes the EasyScan results in real time.  To stream the EasyScan click the blue right facing triangle.

To turn off a Streaming Scan click the Blue Square.

To turn off a Streaming Scan click the Blue Square.

13. Edit Condition Set

To re-enter/Edit the Condition Set conditions, click on the blue Funnel icon

To turn off a Streaming Scan click the Blue Square.

Click on any of the Conditions

To turn off a Streaming Scan click the Blue Square.

Change criteria settings in the Editor. Click OK when completed.

To turn off a Streaming Scan click the Blue Square.

14. Scan a different WatchList of stocks for the Condition/Condition Set on Options

Click the WatchList dropdown menu to select a different WatchList. Click on the name of the desired WatchList to make it the active list being filtered by the Scan condition(s).

15. Stop the Scan

Uncheck the Scan tick box to stop the conditions from filtering the WatchList

To apply the condition to any time frame, click the TimeFrame dropdown to choose the desired bar interval.

Note: the conditions in this article are only examples. Any indicators, fundamentals, PCFs, etc., within TC2000 can be used in an EasyScan. 

The conditions and results of the Scan examples should not be construed as a recommendation to buy or sell any security. They are presented solely for educational purposes.