Options traders are always searching for high premium opportunities to boost returns. High premium options screeners help them spot these setups fast.
This article highlights the top five high premium options screeners and how to use them well.
What Are High Premium Options?
High premium options have bigger price tags than similar contracts. Why? Usually, it’s because of:
- High implied volatility
- Market betting on big price swings
- Events like earnings or launches
- Imbalances in supply and demand
Traders use high premium options in strategies like:
- Selling covered calls
- Credit spreads
- The wheel strategy
- Selling cash-secured puts
Top 5 High Premium Options Screeners
1. Market Chameleon
Market Chameleon gives traders a sharp look at high premium options across the market. Its volatility analysis tools make it easier to spot overpriced contracts.
Users compare current premiums with past data and catch unusual options activity. Pre-earnings analysis lets traders try to profit from the typical premium spike before big announcements.
Daily options ideas cut down research time for those chasing high-premium setups.
Key Features:
- Volatility analysis with historical data
- Highlights unusual options activity
- Pre-earnings move predictions
- Detailed options chain analysis
- Daily high premium ideas
Pros:
- Easy-to-read data
- Shows volatility context
- Detailed option stats
- Free basic screening available
Cons:
- Full features need a paid plan
- Interface can take time to learn
- Data might lag during wild markets
Pricing: Free basic plan; premium starts at $39/month
2. Option Visualizer
Option Visualizer turns options data into colorful visuals for quick pattern spotting. The platform’s heat maps make high-premium contracts pop out instantly.
Its premium decay charts show how time eats away at option value. You can model profit and loss under different market conditions before risking real money.
This tool is a favorite for visual learners who want less number crunching and more clear pictures.
Key Features:
- Premium and volatility heat maps
- Profit/loss scenario modeling
- Premium decay visualization
- Custom high premium screeners
- Strategy comparison tools
Pros:
- Visuals make patterns obvious
- Side-by-side strategy views
- Options chain heat mapping
- Works well on mobile
Cons:
- Less data depth than some rivals
- Premium features cost more
- Advanced tools take some learning
Pricing: Starts at $49/month with a 14-day trial
3. Option Samurai
Option Samurai focuses on simplicity and powerful filters. Its interface lets traders find high-premium options fast, without a maze of menus.
The high implied volatility screener points out potentially overpriced contracts. Option Samurai alerts users to spikes in options volume, often a hint of big moves coming.
Premium ratio filters help balance risk and reward. You also get technical indicators built right into the screener, so there’s no need to juggle multiple tools.
Newer traders like the weekly high premium report for fresh ideas.
Key Features:
- High IV screener
- Unusual volume alerts
- Premium ratio filters
- Theta decay tracking
- Integrated technical indicators
Pros:
- Simple interface
- Fast scanning
- Custom alerts
- Weekly high premium reports
Cons:
- Not as many advanced features as top-tier tools
- Base plan offers limited historical data
- Some users notice data delays
Pricing: From $30/month, with annual discounts
4. InsiderFinance
InsiderFinance mixes options analysis with tracking unusual activity. It stands out by tying institutional money flow to high premium opportunities.
Users get a peek at what the pros might be doing. Dark pool tracking reveals big trades that rarely show up on standard screens.
Premium/strike ratio filters help zero in on the best risk-reward setups. Real-time alerts flag high premium options that meet your criteria, so you can move fast if needed.
The interface keeps things organized, even with lots of data on display.
Key Features:
- Institutional flow analysis
- Unusual activity scanner
- Dark pool transaction tracking
- Premium/strike ratio filters
- Real-time high premium alerts
Pros:
- Blends institutional and options data
- Modern, clean design
- Mobile app with alerts
- Frequent scanner updates
Cons:
- Pricier than some competitors
- Can overwhelm beginners
- Requires some options know-how
Pricing: Starts at $59/month, trial included
5. BlackBoxStocks
BlackBoxStocks brings real-time scanning and a lively social side. The community chat lets traders swap ideas and talk about high premium setups as they happen.
The scanner uses customizable filters to narrow the field. Instant alerts catch unusual options activity, which can signal big moves.
Options flow analysis shows where the big money is shifting. Educational resources help newer traders make sense of it all.
Key Features:
- High premium scanner with many filters
- Unusual activity alerts
- Real-time data and scans
- Trade idea chat room
- Options flow analysis
Pros:
- Active trader community
- Fast alert system
- Mobile app included
- Education for beginners
Cons:
- More expensive than some
- Busy interface
- Some tools have a steep learning curve
Pricing: $99/month, discounts for longer plans
How to Use High Premium Options Screeners Effectively
Step 1: Set Clear Parameters
Start with specific filters for your search:
- Target premium percentage (say, 5-10% for monthly options)
- Minimum volume (1,000+ contracts for better liquidity)
- Open interest above 1,000
- Delta range that fits your plan
- Days to expiration that match your style
Step 2: Filter for Volatility Metrics
Volatility matters for high premium hunting:
- Compare current IV to its history
- Look for IV percentile over 50% for richer premiums
- Check IV rank for relatively high volatility
- Scan for upcoming events that might shake things up
- Filter for IV skew to catch mispriced options
Step 3: Apply Strategy-Specific Filters
Tweak your screening to match your approach.
For Covered Call Sellers:
- Filter for stocks you own or want
- Look at calls expiring in 30-45 days
- Aim for 2-5% monthly premium on OTM calls
For Put Sellers:
- Stick with stocks showing support near strikes
- Target 0.20-0.30 delta puts for balance
- Check put/call ratio for sentiment
For Credit Spread Traders:
- Find high IV gaps between strikes
- Look for tight bid-ask spreads
- Check volume at both strikes
Step 4: Analyze Underlying Assets
Before trading, check the basics:
- Study the chart for support and resistance
- Review recent price and volume
- Note upcoming events like earnings or dividends
- Make sure bid-ask spreads are reasonable
- Scan for recent news
Step 5: Implement Risk Management
Set your rules before you trade:
- Limit position size (1-5% of your portfolio)
- Set profit targets (maybe 50-75% of max gain)
- Define stop-loss or adjustment triggers
- Plan for early exits if volatility drops
- Use a checklist for entry and exit
Common Mistakes to Avoid
New traders often stumble here:
- Chasing the fattest premium without weighing risk
- Ignoring liquidity in the chain
- Forgetting about earnings or big events
- Not checking implied volatility percentiles
- Going too big on size
- Holding through major events unnecessarily
Final Thoughts
High premium options screeners can give traders an edge when searching for profitable setups. Every platform brings something a bit different, so you’ll want to find one that matches your style.
Most services toss in a trial period, which is handy. Honestly, it’s worth testing a few before you settle on one.
Don’t just rely on screener data alone. Mix in your own analysis, technical patterns, fundamentals, and what’s going on in the market still matter a ton in options trading.
With a bit of practice, these tools will help you spot high premium opportunities faster. That frees you up to spend more time on your strategy and risk management, which is where things get interesting anyway.