How to Use the E*TRADE Options Income Finder Tool
The E*TRADE Options Income Finder tool can be used to screen your portfolio (or an individual stock), for income strategies based upon your desired criteria.
1. Log on to your E*TRADE account, hover over the “Research” tab and select “Options” from the dropdown choices.
2. Click “Options Income Finder” on the “Options Tools” tab to launch the tool.
3. To begin, select a portfolio or watch list from the drop down menu, or enter a company name or stock ticker in the symbol box.
4. Next, select the criteria you would like to use for your search.
· By clicking “additional filters” you can further refine your search to include minimum and maximum days to expiration, minimum and maximum deltas, and minimum implied volatility.
· You can also choose to exclude results with stocks that have earnings or ex-dividend dates before expiration.
5. Once you set all of your criteria, click “Search”. The Options Income Finder will quickly screen the markets based upon your criteria to display potential opportunities.
6. View the results to determine if any of the potential opportunities may be right for you.
· By default, the report displays 10 results, but you can view all results by clicking “View all” at the bottom of the report.
· Click the title of any column to sort the report by that column. Click the blue arrow on any of the rows to see additional details about that particular opportunity.
7. To trade one of the strategies, click the “Trade” button to populate an options order ticket with your specified strategy.
8. On the options order page, you will need to select a “price type” from the dropdown list before you can preview the order. You can also set the duration of the trade from the Duration dropdown list.
9. When you are ready, click “Preview” and if everything is accurate, click “Place Order” to send your order to the market.
By using the E*TRADE Options Income Finder tool, you can quickly and easily screen the markets for potential options income strategies, and create an order ticket so you can take control of how you trade options.