How to Use a Covered Call Screener Effectively
Why You Need a Covered Call Screener
Manually scanning options chains is impractical. A single stock might have 10+ expiration dates with 20+ strikes each. Across 50 stocks, that's 10,000+ potential trades to evaluate.
A covered call screener automates this process, scanning thousands of option contracts in seconds and ranking them by the metrics that matter most: premium-per-day, delta, annual return, and more.
Without a screener, you're likely: • Missing the best opportunities hidden in stocks you don't check • Spending hours doing what software does in seconds • Leaving money on the table by not comparing across all expirations
Key Screener Filters
Effective covered call screening uses these filters:
1. Delta (0.05-0.30): Controls your assignment risk. Start with 0.10-0.20. 2. DTE (14-60 days): Focus on 30-45 for optimal theta decay. 3. Minimum Premium Per Day: Filter out trades that don't meet your income threshold. 4. Minimum Open Interest: Ensures liquidity. Look for 100+ open interest. 5. Maximum Bid-Ask Spread: Tight spreads (under 10% of premium) reduce slippage. 6. Stock Universe: Define which stocks you're willing to hold.
The best screeners rank results by PPD (premium per day) so you can instantly see which trade offers the most daily income for the risk taken.
Covered Call Pro: Built for Income Seekers
Covered Call Pro scans 50+ stocks daily across all available expirations to find the best covered call opportunities. Features include:
• Daily "Pick of the Day" — the single best trade ranked by PPD • Golden Triangle scoring (premium + delta + DTE optimization) • Sector-level analysis to diversify your income portfolio • Portfolio Income Tracker for multi-holding income estimates • CC vs Buy & Hold comparison to validate the strategy • Real-time options data with delta, theta, and IV for each trade
Instead of spending hours in your broker's options chain, you see the top trades ranked and ready to execute in seconds. The free tier shows top trades daily; premium unlocks the full screener with 200+ stocks.