To The Moon

As an option newbie, even if you have learned basic knowledge about options, you probably have experienced confusion about which contract you should trade as there are so many on the option chain. 

Is there a better way to find out what strategies you may try?

Yes! The Option Screener from Tiger Brokers is coming to help you!

Update to version 7.1.7 or later and you will see it on the option chain page.

Click on it, then pick your current position status and expected price on the expected date.

For example, I am currently holding a long position in AAPL. Concerned that the FED is raising interest rate, I guess the price of AAPL will fall to USD 155 by April.1st. (Just guess for any reason you like.)

Click on "next" and two potential strategies based on your expectations will be displayed. Generally, the higher the Max profit, the lower the chance of profit. Investors need to make a trade-off. 

Pick the first one and then you will see the PnL Chart and review the order, which will only be a paper trade that involves no risk. 

After you place the order, you will see the estimated debit, with no brokerage fee included.

Then switch to the paper trading account to follow the outcome of this strategy.

That's all. Thanks for reading and if you find this helpful, please let us know. 

Kindly note that 

Investing in derivatives or leveraged financial products involves significant risk and may result in loss of principal in your paper account, which may not be suitable for everyone; please operate with caution. 

This function as an investor education tool is only applicable to the paper account. These screening results are not considered investment advice from Tiger Brokers, and Tiger Brokers shall hold no liability for the profit or loss that may occur. 

For actual option trading, please ensure you have relevant qualifications/knowledge for options trading. Performance in the paper account should not be relied upon.