Posted in
Education
By: Tom Gentile
on July 26th, 2024
Tom’s Movers Scan Overview
In my tools I have a variety of scans. Many of them are designed for searching up technical patterns and others are for research and finding acceptable risk option strategies.
The one I want to educate you all on today is one I use to find securities that move higher or lower greater than 1% over the last 7-trading days. In this scan it also shows the correlation percentage between that security and the SPDR S&P 500 ETF Trust (SPY) over that same amount of days.
The scan is called Tom’s Movers.
For those not already subscribed to my tools there is a 14-day free trial found here: https://tomsoptiontools.com/cgibin/oa3/pay_choose_MM.php
The subscription classification of ‘Option Trader’ level is all you need to find this powerful scanning tool.
Heck, I will even provide the scan criteria we use in my tools to scan these up.
Everyone is left to make their own decision what stock list they want to search on, whether it be the list of stocks in the S&P, the Dow or their own custom list of securities.
The list I use to start is what’s called the Penny and Weekly Stock List.
This list is comprised of securities that have penny-wide spreads on their bid/ask spreads and also have weekly options.
Purpose of the Tom’s Movers Scan
The purpose of scanning this list is as it is for basically all my scans; instead of having to manually search through thousands of optionable stock and ETF’s this scan tells you the top movers every day at the click of a button.
The results helps find and determine which stocks and ETFs one can consider trading or trading options on during “risk-on” and “risk-off” days.
Risk On – Risk Off Days
Risk-On days happen when there’s more optimism in the market and investors are willing to take on higher-risk investments: meaning they’re actually putting their money on the line to invest and or trade.
Risk-Off days, on the other hand, happen when there’s less optimism in the markets and investors are more likely to take on safer investments or not put their money to work. It may be selling their positions to take the risk off of losing any more on the position or locking in profit they have at that time.
First 10 Tom’s Movers Securities 2024-07-26
At the time of this writing here are the first 10 securities that meet the criteria of the Tom’s movers scan.
To your success,
— Tom Gentile
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