What early option bid-ask spread scans can and cannot show

Scans run March 26 – April 1, 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

These scans were part of an early test of Spreadsearch. The aim was to check how clearly the tool could identify and compare wide displayed bid-ask spreads across a limited group of US equity options.

The scan universe was non-exhaustive. It included names from technology, cybersecurity, financials, energy, power and utilities, and biotech. Minimum bid and volume filters were applied to remove some contracts with very low activity. The results therefore describe this sample only and are not representative of the full options market.

What the tests showed

Contract selection matters. Spread width can vary substantially within the same ticker. Strike, expiry, option type, quoted size, and the time of the observation all need to be considered before comparing two results.

A wide displayed spread is not a trading signal. It is the difference between the displayed bid and ask at a given moment. It does not show where an order would necessarily execute, and it should not be treated as evidence of a directional market view.

Simple averages can be misleading. A dataset can contain many more contracts for one ticker than for another. Without controlling for that imbalance, an overall average may mainly reflect the names with the largest number of observations.

Comparisons need a consistent method. Results are more useful when the same filters, scan time, and selection rules are applied. This makes it easier to distinguish a repeatable pattern from a temporary quote.

Limits of this report

This public summary does not reproduce contract-level market data. The original observations were point-in-time quotes collected through Spreadsearch and may have changed immediately after each scan.

The tests were exploratory. They were designed to assess the tool and its presentation of spreads, not to measure the options market as a whole or to identify trades.