Why option scan fields should be read together

Scans run August 3 to August 14, 2026 via Spreadsearch

Editorial note (September 25, 2026): This page was substantially revised to replace the original scan-data summary with a methodology note. The original URL and reporting period have been retained for continuity.

Purpose of the scans

The early-August tests brought together several fields already used in Spreadsearch: dollar spread, percentage spread, volume, bid and ask size, strike, and expiry.

Each field adds information, but none can determine by itself whether a contract is liquid, executable at a particular price, or suitable for a trade.

Different fields answer different questions

Dollar spread shows the absolute gap between the displayed bid and ask.

Percentage spread places that gap in relation to the option premium.

Volume shows reported trading activity for the session, but does not guarantee that substantial size is currently available at the displayed prices.

Bid and ask size show the quantity displayed at the best quoted prices at that moment.

Strike and expiry identify the exact contract and allow comparisons within the option chain.

Why one ranking is not enough

A contract can rank highly by dollar spread because its premium is expensive, while remaining moderate in percentage terms. Another can rank highly by percentage because its bid is low, even though the dollar gap is small.

A third contract may show a wide spread and a large difference between bid and ask size, but the displayed sizes can change before an order is entered. These cases should not be collapsed into one automatic conclusion.

A research workflow, not a trading score

Spreadsearch is more useful when it narrows a large option universe to a smaller group for review. The user can then compare the exact contracts, check whether the quote persists, and consider the surrounding chain.

The tool does not calculate whether a contract is “worth trading,” and a high position in a scan is not a recommendation. The output is a research starting point.

For more information about this workflow, see How It Works or explore the demo.