OpScanBot is an options selling screener tool that helps you find options contracts. It eliminates the manual searching through thousands of options, saving you time and effort. This review covers the features, costs and overall value of OpScanBot.
Features
OpScanBot has two main delivery options: a web-based screener and a Google Sheet screener. The web-based version works on smartphones, tablets and computers while the Google Sheet option is for Excel users.
The screener supports several options selling strategies:
- Cash Secured Puts/Naked Puts
- Covered Calls/Naked Calls
- Put Credit Spreads/Bull Put Spreads
- Call Credit Spreads/Bear Call Spreads
- Short Iron Condors
OpScanBot scans thousands of US and non-US stocks plus select ETFs. The data refreshes every 30 minutes to one hour so you get current option prices, expiration dates, strike prices and more.
The filtering system is extensive, you can search by:
- Sectors and specific tickers
- Strike and contract price ranges
- Return on Capital (ROC)
- Implied Volatility (IV) and Historical Volatility (HV)
- IV Rank and IV Percentile
- Percent Out of the Money (% OTM)
- Days to Expiration (DTE)
- Days to Earnings
You can customize your view by selecting which data columns to show. The tool also allows export to Excel and CSV for further analysis. The Google Sheet version has a dashboard with preset filters for quick scanning.
Costs
OpScanBot has different pricing tiers based on delivery method and features:
Web-Based Option:
- Free Trial: 5 days full access to all features
- Basic Plan: $19/month (billed monthly) or $17/month (billed yearly at $204)
- Premium Plan: $26/month (billed monthly) or $23/month (billed yearly at $276)
The main difference between Basic and Premium is that Premium includes spread strategies (Bull/Put Credit Spreads, Bear/Call Credit Spreads, Short Iron Condors).
Google Sheet Option:
- Free Trial: 7 days full access
- Single Leg Strategies: $15/month (billed monthly) or $13.50/month (billed yearly at $162)* Multiple Leg Strategies: $15/month (billed monthly) or $13.50/month (billed yearly at $162)
The Single Leg plan is for Cash Secured Puts and Covered Calls, the Multiple Leg plan is for spread strategies. You must choose one or the other.
All paid plans have customizable filters, frequent data updates and export capabilities.
Summary
OpScanBot is a tool for options traders who sell options contracts. It automates the search process and gives you current market data with customizable filters.
3 Pros and 2 Cons
Pros:
- Data updates frequently (every 30-60 minutes), so you get current market information
- Lots of filtering options so you can find specific opportunities that match your criteria
- Two format options (web-based and Google Sheet) so you can choose what you like
Cons:
- You must choose between single-leg and multi-leg strategies in the Google Sheet version instead of having both
- The basic web plan doesn’t have spread strategy features, you need to upgrade to the premium plan
OpScanBot is for options sellers who want to find opportunities quickly without manual searching. It’s good value for active traders who need to scan the market regularly and make decisions based on specific criteria.