Options Screener — Filter F&O Stocks by IV, OI, Volume & More

What is the options screener?

The Options Screener is a free filtering tool that helps you find F&O stocks and indices meeting specific options criteria — without scrolling through 265+ symbols one by one.

Instead of opening every option chain manually, the screener lets you ask questions like: - “Which stocks have IV above 40% today?” - “Which F&O stocks saw fresh long buildup in the last hour?” - “Which options have unusual volume relative to their average?” - “Which stocks have the highest change in OI today?”

The screener returns a filtered list of stocks matching your criteria, with key options data visible at a glance. From there, you can drill into individual stock option chains for deeper analysis.

NiftyTrader’s options screener pulls live data from NSE F&O segment — refreshed continuously during trading hours.

Filter criteria available

The options screener supports filtering on multiple dimensions. Combine filters to narrow down to highly specific candidates.

Content team note: Verify the actual filter set available on the current screener before publishing. The list below reflects typical options screener functionality and may not match exactly. Adjust to match real available filters.

Implied Volatility (IV)

Filter by current Implied Volatility level — useful for finding “expensive” or “cheap” options: - High IV filter: IV above a threshold (e.g., 40%) — candidates for option selling strategies - Low IV filter: IV below a threshold (e.g., 20%) — candidates for option buying strategies - IV change filter: Recent IV expansion or compression — signals shifts in market expectation

Combining IV with stock fundamentals can reveal mispricings — high IV with no obvious catalyst suggests overpriced options.

Open Interest (OI)

Filter by absolute OI levels to find heavily-positioned stocks: - High OI filter: Stocks with significant institutional positioning - Low OI filter: Stocks with limited derivatives activity (often less liquid for trading) - OI by strike: Some screeners allow filtering by OI at specific strike distances from spot

OI is a leading indicator — heavy positioning often precedes significant price moves.

Change in OI

Today’s net OI buildup or unwinding tells you what’s happening NOW versus historical positioning: - Fresh buildup: Stocks where positions are being added today — directional conviction is forming - Unwinding: Stocks where positions are being closed — existing thesis is changing - Short covering: Falling OI with rising prices — bearish positions being squeezed

Filter direction (positive vs negative change) and magnitude (top 10, top 25 percentile) to surface specific patterns.

Volume

Today’s trading volume in options reveals current activity: - Volume spike filter: Stocks with volume significantly above average - Volume relative to OI: High volume with low OI = active intraday trading; high volume with high OI = institutional positioning - Volume at specific strikes: Concentrated volume at particular strikes signals positioning at those levels

Build-up patterns (Long Buildup, Short Buildup, Unwinding, Covering)

Build-up combines price action with OI changes to classify the pattern: - Long buildup: Price up + OI up — bullish positioning being established - Short buildup: Price down + OI up — bearish positioning being established - Long unwinding: Price down + OI down — bullish positions being closed - Short covering: Price up + OI down — bearish positions being closed

Filter by build-up type to find stocks where specific patterns are forming.

Percentage move filters

Filter by today’s price percentage change: - Top gainers / top losers in F&O segment - Threshold filters (e.g., stocks moved more than 3% today) - Combined with options data — a stock up 3% with massive call buildup is a stronger momentum signal than the same move without buildup

Liquidity and tradability filters

For traders who want to actually trade what the screener finds: - Minimum volume threshold: Filter out illiquid stocks where bid-ask spreads make trading impractical - In F&O ban filter: Exclude stocks currently in F&O ban (no new positions allowed) - Minimum option premium filter: Filter out far-OTM options with tiny premiums

How to use the options screener effectively

The screener returns lots of stocks. The skill is asking the right question to narrow down to actionable candidates.

Finding unusual options activity

Combine filters to spot stocks with anomalous activity: - Volume in options >2x daily average AND - Change in OI in top 10 percentile AND - Implied Volatility expansion >5 points today

This combination typically surfaces stocks where institutional positioning is happening — often before news or events become public.

Identifying potential breakouts

Stocks setting up for breakouts often show specific options patterns: - Long buildup (price up + OI up) AND - IV expanding (market expecting more movement) AND - Price near a technical resistance level

Use the screener to surface these candidates, then verify with chart analysis.

Spotting reversals

Reversals often have signature options patterns: - Short covering after a sustained downtrend (price up + OI down) — bears giving up - Long unwinding after a sustained uptrend (price down + OI down) — bulls taking profits - Combined with extreme IV (often >60% percentile of trailing range)

These reversals can be sharp and short-lived. Don’t hold reversal trades through major events.

Filtering for liquid trading candidates

Many screener hits will be illiquid stocks where you can’t actually trade size: - Set minimum daily options volume (e.g., 50K contracts) - Avoid stocks with OI under 1 lakh in front-month - Skip stocks in F&O ban - Verify bid-ask spread is acceptable on your target strike before entering

A “great screener result” that you can’t actually trade isn’t useful.

Common screener strategies

Four screener-based approaches that work well for Indian F&O traders.

High IV stocks for option selling

Filter: IV > 40% (or top 10 percentile of F&O universe) Use case: Find expensive options for selling premium (covered calls, cash-secured puts, iron condors) Caveat: High IV often means high realized volatility — your short options can get tested. Use defined-risk strategies (iron condors) over naked short premium.

Low IV stocks for option buying

Filter: IV < 20% (or bottom 20 percentile) Use case: Buy options when premiums are cheap — long straddles or directional plays Caveat: Low IV often persists for weeks; don’t buy options just because they’re cheap. Pair low IV with a specific catalyst expectation.

Fresh long buildup for momentum trades

Filter: Long buildup + Today’s volume > 1.5x average + Stock up >2% today Use case: Catch early momentum on stocks where positioning supports the move Caveat: Momentum reverses fast in choppy markets. Set stops at 2% below entry.

Short covering for reversal plays

Filter: Short covering pattern + RSI was oversold yesterday + Today’s volume spike Use case: Catch reversals after sustained selling pressure Caveat: Distinguish genuine reversal from temporary bounce. Confirm with sector/index direction before trading.

Reading screener output

The screener output table typically shows:

Sort by any column to surface specific patterns. Click on a stock symbol to navigate to its option chain for deeper analysis.

Tips for screener-based options trading

Combine screener with option chain analysis

The screener tells you WHICH stocks to look at. The option chain tells you HOW to trade them. Use the screener as a filter; use the option chain to identify specific strikes, expiries, and strategies. Trading based on screener output alone (without option chain analysis) typically leads to poor strike selection.

Verify liquidity before trading

Many screener hits are theoretically interesting but practically untradeable. Before placing any trade: - Check the bid-ask spread on your target strike - Verify OI at that strike is meaningful (>1,000 contracts as a rough minimum) - Check today’s volume — at least some volume at your strike

A 5% bid-ask spread will eat most of your edge on short-duration trades.

Set realistic IV expectations

IV percentile (current IV vs trailing 1-year range) is more useful than absolute IV. A stock at 35% IV that historically trades 25-45% IV is just average — not “high IV.” A stock at 35% IV that historically trades 15-25% IV is dramatically elevated. The screener typically shows absolute IV; cross-reference with historical IV ranges for accurate interpretation.

Use screener as starting point, not signal

The screener generates candidates. It does not generate signals. A screener result is the START of analysis, not the conclusion. The traders who do well with screener-based approaches treat output as “stocks worth looking at today” — then apply their judgment, charts, news context, and risk management.

Options screener vs other tools

Screener vs Option Chain

• Option Chain shows everything about one stock’s options (all strikes, all expiries)
• Screener shows one specific metric across many stocks

Use the screener to find interesting stocks; use the option chain to plan the actual trade. They’re complementary tools, not alternatives.

Screener vs Stock Screener

• Options Screener filters by options-specific metrics (IV, OI, build-up)
• Stock Screener filters by stock fundamentals (P/E, market cap, financial ratios)

Both have their place. Use stock screeners for finding investment candidates; use options screeners for finding trading candidates.

When to use each tool

• At market open: Options screener to find today’s setups (gap-ups, fresh builds, IV expansions)
• Mid-session: Options screener to find intraday momentum (volume spikes, OI changes)
• End of day: Stock screener to find tomorrow’s swing trade candidates (fundamentals + technicals)