Optiondash is a tool built for options traders. It helps investors spot income-producing covered call trades using detailed screening features.

The platform keeps things simple, focusing on clear data instead of overwhelming interfaces. It’s designed to make trading decisions a bit less stressful.

Finding stocks with the right mix of safety, yield, and upside can feel like searching for a needle in a haystack. Optiondash tries to make that hunt easier by offering both free and premium versions tailored for covered call strategies.

Features

Optiondash packs in several features that options traders might appreciate.

  1. Proprietary Scoring Systems: It calculates Value, Quality, and Trend scores for every stock. These scores let users size up investment factors quickly and compare stocks without much hassle.
  2. Advanced Screening Criteria: You can filter stocks by things like fundamental metrics, expiration dates, and option moneyness. That way, it’s easier to find trades that fit your style.
  3. Watchlists: Save your favorite stocks in one spot. This makes tracking potential trades and comparing premiums a whole lot simpler.
  4. Saved Searches: The platform lets you save your search filters. Next time you log in, you can pick up right where you left off without re-entering everything.
  5. Research Tools: All the stock info you need lives in one place. No more bouncing between a dozen tabs to do your research.
  6. Key Metrics Display: The screener shows data like Downside Protection, If Called Return, Annualized Return, Ex-Dividend dates, and Dividend Yield.
  7. Cash Secured Put Screener: There’s also a put screener that works with the covered call tool. You can access it with just a click.

Each stock has its own analysis page, with price charts, drawdown history, dividend info, seasonality data, valuation metrics, and even analyst opinions. It’s a lot to take in, but it’s all right there.

Costs

Optiondash uses a tiered pricing model.

  1. Free Version: The basic covered call screener costs nothing. Just create an account and verify your email to get started.
  2. Premium Version: This one runs $39 a month or $349 a year. New users get a 14-day free trial for premium features after signing up.

The free version gives you the main screener and real intraday market data. The premium plan probably offers more, though the site doesn’t spell out every difference.

Snider Advisors built Optiondash. They also run a trading platform called Lattco, which helps execute covered call trades more efficiently.

Summary

Optiondash targets options traders who focus on covered calls and cash secured puts. With detailed filters and proprietary scoring, it helps investors hunt for income opportunities in a more organized way.

Pros and Cons

Pros:

  • Free basic version available.
  • You get real-time market data.
  • The interface feels easy to use, especially if you’re into covered call strategies.
  • Proprietary scoring systems let you size up stocks fast.
  • You can save searches and put together watchlists.
  • All the research tools are right there in one spot.
  • It screens both covered calls and cash secured puts.

Cons:

  • Premium features cost extra ($39/month or $349/year).
  • The focus is mostly on covered calls and cash secured puts, not every options strategy out there.
  • You have to use a separate platform to actually place trades.
  • If you’re new to options, expect a bit of a learning curve.
  • Only works for stocks that have options.

Optiondash makes it a lot easier to spot covered call opportunities. You get the info you need to figure out which stocks might work for income strategies.

The platform feels pretty approachable, whether you’re just starting out or know your way around options. The layout’s clear, and the screening tools are surprisingly detailed.