Best Options Scanner In The Market

You can make it big in stock trading and if you have already done that, you probably want to unlock bigger profits. One of the best ways to do that is to trade options.

Now, options are not stocks and they do come with a higher risk. With that, you open yourself up to getting higher losses or higher rewards. Of course, you would want greater rewards but to get them, you would have to do it right.

But, how do you do that? You need to equip yourself with an options scanner that will help you pick the right options. 

In this guide, we are going to introduce you to some of the best options scanners around. Stick around for some useful insights.

How Do You Use Option Scanners in 2024?

Options scanners are crucial tools of trade but most investors overlook them especially when starting because there are so many things to learn.

Nevertheless, options scanners are invaluable when it comes to saving time and narrowing down potential options. Some of the things you can expect from the options scanner include:

  • Scanning and filtering for specific options criteria
  • Find options that are likely to break out
  • Live scan the markets for momentum plays

Let us now get into some of the best options scanners in the market.

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1. Trade Ideas

This has to be one of our favorites and it is a popular one in the industry. This is mostly because it is user-friendly once it is set up.

This scanner comes with a simple interface that is easy to navigate and comes with a ton of useful data to help you pick the best options.

Day trading happens fast and because of that, you will often end up being frustrated trying to get moves before they are finished. The Trade Ideas options scanner will find them for you before anyone else gets to them.

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2. Benzinga Pro

The Benzinga Pro scanner is known for its news streaming service. As you are probably aware, the options market is a battleground for sellers and buyers.

News moves the market and the ability to trade news is one of the keys to succeeding in options trading. As a trader, you need to be updated about what is happening in the options market because quarterly reports, news, management, and earnings affect options.

Benzinga Pro offers you the news you need to make the right choice as well as sentiment indicators, economic calendars, analyst ratings, and even rumors.

As a trader, you need to focus on more than one thing to ensure that your trade is going as planned. You cannot afford to be distracted. Benzinga Pro also features Benzinga Pro Squawk, a feature that reads out breaking news to you audibly.

This means that you will not miss anything that could possibly affect your trades before they hit option scanners. This is perfect if you are in the market for volatility.

Being aware of impending volatility before everyone else gives you an upper hand and that is why Benzinga Pro is one of the best options scanners available.

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3. ThinkorSwim

Are you looking for an options scanner that doesn't require you to pay a monthly fee? ThinkorSwim is the options scanner for you because it offers free services.

You get access to the platform's charts that you will love for their usefulness as well as a scanner. What stands out most about the ThinkorSwim options scanner is that it allows you to create and personalize your own scans. You also get access to the platform's simulated trading platform.

On the platform, you can do your trading based on the information derived from the scans. ThinkorSwim also comes with a news section to keep you updated about the market happenings so that you have better chances of picking the right options.

ThinkorSwim is an ideal options scanner because it is a one-stop-shop.

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4. TrendSpider

TrendSpider has to be the trendsetter when it comes to algorithm trading particularly when it comes to technical analysis. Often, traders make mistakes when it comes to drawing out-trend patterns and lines which can lead them to make bad trades. 

What the TrendSpider options scanner does is that it merges computers and math to deliver the perfect technical assessment. The platform has computerized Fibonacci Retracements and owing to the automation, you get accuracy which in turn gives you the edge when it comes to picking options.

This platform is also able to identify candlestick patterns. You decide the pattern you want and TrendSider scans the chart and highlights it for you.

As if that is not enough, TrendSpider allows for the setting of alerts. This means that the scanner can find you plays and you get to set alerts that will go off when your criteria are met.

TrendSpider comes with multifactor alerts and backtesting as well so you will be notified when RSI drops to a particular level.

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5. Market Chameleon

Market Chameleon's research and scanning features can be used by both options and stock traders. Some of the most notable features you will get on the platform include open interest analysis, order flow sentiment, buy-write searches, options volume, and unusual options activity among others.

Also available are web-based research tools, different screeners, options chains, an earnings calendar, and a dividend monitor.

A dividend monitor, earnings calendar, options chain, various screeners, and web-based research tools. Now, Market Chameleon comes with several subscription packages but the total access subscription will give you the best value as provides a remarkable range of data and scans.

What's more, you can download the data to your devices for further assessment.

The total access subscription provides the best value and offers an incredible range of scans and data. A fantastic aspect is that subscribers can download the data to their computer for further analysis.

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6. BlackBox Stocks

This scanner is ideal for options, mid-cap stocks, and penny stocks and we have to say that it embodies ease making it extremely easy and convenient to use.

Everything is displayed on a single screen which is a good thing because then, you won't have to go through different pages trying to find whatever you need. Having everything at your fingertips makes trading options easier.

BlackBox's trading scanner notifies you of promising options with its High-Frequency Trading tactics. Here, the scanner screens the pre-market and post-market data along with social media. This results in pairing and the end, you are alerted of potential plays.

This scanner is easy, simple, and convenient to use as it has a discord room where all your queries will be addressed. This is particularly helpful for new traders who want to learn about options trading.

Moving away from that, this scanner has a news service that allows for round-the-clock streaming. The price of this service is included in the membership fee you pay when getting the scanner and that means that you won't have to pay anything on top of that.

We have to say that gives you great value for your money. The platform also calls out trades it makes and this contributes greatly in helping you comprehend why it picked particular trades.

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7. Optionsonar

This scanner follows the money by screening, monitoring, and assessing the order flow of stock options contracts. Optionsonar comes with in-built screeners that enable you to uncover new trading options.

The platform observes all major option trades and splits the results into bearish and bullish trades. Sweep scanner, block trades, and dark pool orders are all executed in Optionsonar and as if that is not enough, it also examines for stock options spots where the contract volume is larger than the open interest from the last trading day.

The scanner results include strike prices, technical analysis sentiment, volatility, option prices, and charts.

You also get alerts in the form of desktop notifications, emails, or SMS once a promising trade is identified.

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8. FinViz

This is yet another free options scanner but it does have a paid version. Anyway, you can use it to achieve great results when it comes to options trading. It comes with numerous different filters to be scanned so you get to screen unusual volumes, market caps, RSI, candlestick patterns, and more.

Besides, FinViz offers a scan for each style of stock market investing and trading out there and the best part is that you get to do that for free. You can personalize scans, save them, or even share them with others.

Ultimately, this is one of the best free scanners you will ever get your hands on.


Stock trading is great, but options trading is even better because you set yourself up to receive higher returns with the latter. Granted, stock prices are volatile, but options prices can be even more volatile and this is what attracts most traders.

The last thing you want as a trader is to suffer losses and although you cannot completely exempt yourself from the same, you can reduce the chances of it happening. An options scanner will go a long way in helping you do that.

If you have never used one before deciding which one would suit you best may be hard but with our list here, you should have an easier time picking.