How to Create and Run a Scan for High Options Volume on TS
TS Custom Scan High Options Volume
We often hear professional traders talk about “unusually high options volume”. This video shows you step-by-step how to build a custom scan in TS. The custom scan will filter through a universe of stocks, reporting all the ones with above average options volume. From start to finish you learn each step required. Starting from a blank workspace, you see how to add a chart and scanner window. Then we examine every element along the way to implementing a fully functional custom scan.
As a bonus, you even get to see me get into some code and tweak a built in technical indicator. After the tweaks, the new indicator is able to display a new value, the percentage of today’s options volume as compared to the 10 day average. Don’t be afraid to try this tweak on your own system. Just follow me step-by-step and you will be surprised how easy it is.
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Thanks for the quick response. I did find in the TS Hot Lists a list that you can sort by Index options, Stock Options, or Equities options, then by a variety of Price and Volume criteria. I just found this last night and will see what it gives me today during market hours.
Hi Pete…….do you know if a TS scan can be created to look for individual option strike prices that have higher than usual volume. Maybe something like current volume of option strikes greater than open interest
It may be possible. But it does not seem to be something that is already available. I think it would require a custom solution.
Using the standard scan metrics, we can scan for total volume of all options contracts for an individual underlying stock, or we can scan for total open interest of all options contracts for an individual underlying stock.
And those can be subdivided into calls or puts. But I don’t see anything that allows us to drill down to individual strike prices.
Again, this may be possible to create by writing an advanced technical analysis tool. But I don’t see any way to configure a scan without writing code. And it may not even be possible to write code for this. I have never attempted to build a solution of this type. So it may or may not be possible by building a custom chart indicator.