How to decide which option to trade - based on what?

#1
If I am not mistaken expert traders use implied volatility and option Greeks to choose which strike price and which type of option to trade ..can someone correct me if I am wrong?
But how do they use IV and/or Greeks ...Is there any website that can give the pointers on daily basis to help us choose which options to trade....

Please don't tell me read this book and that...nowadays there are softwares/websites out there which automatically scans for the good opportunities based on various data like PCR, IV , greeks and more...so I am looking for those websites/tools.

Yes we can manually look for opportunities, but Its better to use computers to scan those opportunities instead we spend many hours for it.
So dont give me a lecture on that.
 

Dylan

New Member
#3
If I am not mistaken expert traders use implied volatility and option Greeks to choose which strike price and which type of option to trade ..can someone correct me if I am wrong?
But how do they use IV and/or Greeks ...Is there any website that can give the pointers on daily basis to help us choose which options to trade....

Please don't tell me read this book and that...nowadays there are softwares/websites out there which automatically scans for the good opportunities based on various data like PCR, IV , greeks and more...so I am looking for those websites/tools.

Yes we can manually look for opportunities, but Its better to use computers to scan those opportunities instead we spend many hours for it.
So dont give me a lecture on that.
I would like to recommend you to analyze the market manually. Options trading is much riskier for traders if they completely rely on trading Softwares.
 

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