Hey r/options,

I’m the developer behind ThetaScanner.

I built this platform because I was tired of the existing options scanners on the market. Most were either absurdly expensive or lacked the specific combination of features I needed for selling options.

I found myself opening 15 different tabs just to check IV, earnings dates, technicals, and fundamentals to validate a single trade. I wanted a specific tool designed for Theta strategies (The Wheel, CSPs, Covered Calls) that consolidated that workflow into one place without spending hundreds of dollars a year.

The goal of theta strategies isn't just to find the highest premium, because high premium usually means high risk. It is to find the best risk-adjusted premium on quality underlying stocks, and that's what this tool tries to achieve.

What it actually does

The platform analyzes over 200,000 options contracts on 1400+ tickers to help find income-focused setups. It combines market data with technicals and fundamentals to help you stay away from yield traps.

• The Scanner: This is the main dashboard. You can filter contracts by Strike, DTE, ROI, Delta, Theta, IV, Annualized Yield, and a lot more.
  • Liquidity Control: You can specifically filter by Open Interest and Bid/Ask Spread to ensure you aren't trading illiquid garbage that you can't close. Illiquid contracts are automatically filtered out.
  • Fundamental & Technical Filters: Screen by P/E, EPS, Market Cap, Dividend Yield, RSI, Moving Averages, and more.
• Curated Market Views: If you don't want to set manual filters, you can view the Top Yields (highest return), Most Traded (highest volume/OI), and ThetaScanner Picks (Algo-curated setups) pages to see what the market is focusing on.
• CSP & Covered Call Finders: These are dedicated tools for the Wheel Strategy. You can toggle between "Safe", "Balanced" , and "Income" strategies to see annualized returns based on your risk tolerance. For CSP finder, different filters are available based on your objectives and capital.
• Earnings Calendar: Navigating earnings season is critical for sellers. The scanner flags upcoming earnings and lets you strictly filter out contracts that expire during a binary event to avoid assignment risk.

ThetaScanner In-House Algo Scores

I didn't want to just display raw data, so I built three proprietary algorithms to help sort the noise. I want to be transparent about how these work so you know what you are looking at:

1. ThetaScanner Rating: This looks at the underlying stock itself. It analyzes multiple data points including technicals (moving averages, relative strength, etc.) and fundamentals (P/E ratios, beta, short float, etc.). It penalizes high volatility or bad financials and rewards stability. It’s basically designed to answer: "Is this a stock I wouldn't mind owning if I get assigned?"
2. ThetaScanner Option Score: This looks at the specific contract. It takes the Stock Rating above and blends it with individual option data like Delta, Open Interest, earnings dates, etc. Ideally, this points you toward that sweet spot (usually around .25 Delta) with good liquidity.
3. Relative Strength: This compares the stock's performance against the SP500 and 1,400+ other tickers on the platform. It helps identify if the stock is trending with the market or lagging behind.

Pricing and Free Tier

I know nobody likes a tool that is entirely paywalled, and I want people to actually use it, so the free tier is generous.

• Free Tier: You get full access to the scanner and filtering for major tickers (SPY, QQQ, AAPL, TSLA, NVDA, MSFT, etc.). If you only trade the big names, you can use the tool for free forever. We also offer limited access to the other features.
• Pro ($5.99/mo): Unlocks all 1,400+ tickers and all the features mentioned plus more. I wanted to make this tool as accessible as possible, because that's what i had been looking for and couldn't find. The yearly plan is just $60/year.

Since this post is for this community, I created a special promo code: ROPTIONS. It gives you a one-time 30% discount, which you can apply to either the first month or the full annual plan (bringing the yearly cost down to $42, just $3.50/mo).

All data on the platform is updated every ~10 minutes for both tiers.

Coming Soon

I am currently finalizing a full Trading Journal feature integrated directly into the platform, which is scheduled to go live later this month.

I’m looking for genuine feedback. If you think the scoring is off, or if there’s a specific filter missing that you need for your strategy, let me know in the comments.

Link to the platform: thetascanner.com

Our subreddit: r/ThetaScanner

Happy trading,
The ThetaScanner Team