Capturing Real-Time Options Information

I have received several emails recently from readers who are interested in how I obtain real-time information during the trading day on the stocks and options I am following.  Below is a window on my Schwab StreetSmart Edge platform -- the primary tool I use daily for monitoring positions.  I have customized the screen layout to facilitate that information most useful for my preferred Covered Calls style of investing.  The image below shows one window from my computer screen (for Alphabet Inc.).  Your broker will likely have a platform similar to this that will aid you in your options-related investing.

For any particular company, you can quickly look at all its options chains (both Calls and Puts) and for any options expiration date.  The image below is for the June 19th, 2020 expiration and the Call options chain column headings layout I have established for each strike price are Last Price, Bid & Ask prices, Today's Contracts Volume Traded, # Contracts Open Interest, Implied Volatility at the Bid Price, Delta, Time Value, and Probability % In-the-Money.  These columns were chosen as the most important factors to consider in the expiration date and strike price selection process.  Also, before placing a trade, I quickly compare the time value in the Calls versus that of the comparable Puts to see if there is any time value arbitrage opportunity in establishing a Covered Calls or a Cash-Secured Puts position.

I hope you find this post helpful, but I want to keep it brief; so I won't continue with more detailed explanations now.  But after reviewing and thinking about it, if you have any comments or questions please email me at partlow@cox.net and I will be happy to reply.

Best Wishes and Stay Safe, 
Jeff