Can You Use NSE Screener for Options Trading?
Introduction
The NSE Screener is a popular tool among equity traders in India, but many traders wonder: Can it be used effectively for options trading? The short answer is: not directly. While the NSE Screener doesn’t provide options data, you can still use it to pre-screen stocks that are suitable for options strategies. This article explores what’s possible and what’s not when it comes to using the NSE Screener for options trading.
What NSE Screener Can Do for Options Traders
Although the NSE Screener does not screen options contracts, it can help in the stock selection process by identifying:
- High-volume stocks (for liquidity)
- Stocks with momentum or breakouts (for directional trades)
- Stocks in the F&O segment
- Stocks with high price movement potential
These pre-selected stocks can then be analyzed further using options-specific platforms.
What NSE Screener Cannot Do
The NSE Screener does not offer:
- Options chain data (strike prices, expiry dates, OI)
- IV (Implied Volatility) metrics
- Greeks (Delta, Gamma, Theta, Vega)
- Option premium screening
- Strategy suggestions (e.g., Iron Condor, Straddle)
For such features, you’ll need to use advanced platforms like:
- Sensibull
- Opstra by Define Edge
- NSE Option Chain Page
- Fyers One or TradingView (Pro)
How to Use NSE Screener Before Options Analysis
Step 1: Screen Stocks with Momentum or Breakout Potential
Use filters such as:
- Volume > 2x 20-day average
- Price > previous day’s high
- Price > 50 EMA or 200 EMA
These indicate strong movement, ideal for buying options or setting up spreads.
Step 2: Ensure the Stock Is in F&O List
After filtering, make sure the stock is part of NSE’s Futures and Options (F&O) segment. You can find the list here:
🔗 https://www.nseindia.com/products-services/equity-derivatives-equity-derivatives
Step 3: Move to an Options Analysis Platform
Once you’ve selected high-momentum or high-volume stocks:
- Use Sensibull or Opstra to view option chain, OI analysis, and IV
- Analyze support/resistance and decide on strike prices
- Evaluate Greeks for risk-adjusted positions
Example Use Case
Let’s say the NSE Screener highlights Tata Motors with a 4% up move and 3x volume.
- Check if Tata Motors is in F&O ✅
- Head to Opstra and review its option chain
- Use breakout charts on TradingView
- Choose an ATM or slightly OTM call option
- Enter with stop-loss and monitor IV
Recommended Tools for NSE Options Traders
| Tool | Feature |
|---|---|
| Sensibull | Strategy builder, option chain, Greeks |
| Opstra | OI charts, IV Rank, PCR |
| NSE India | Free option chain lookup |
| Fyers One | Full-featured desktop terminal |
| QuantsApp | Mobile options analytics |
FAQs
Can I find options contracts on NSE Screener?
No. NSE Screener is equity-based only. Use NSE’s Option Chain page or Sensibull for contract data.
Is screening stocks for options trades useful?
Yes. Options trades are built around underlying stock direction. So pre-screening is essential.
Are there free tools for options analytics in India?
Yes. NSE’s website, Sensibull (basic version), and Opstra (free tier) all offer free tools.
Conclusion
While the NSE Screener cannot directly help you screen options contracts, it plays a critical role in filtering the right stocks for building your options strategies. Combine NSE Screener with tools like Sensibull or Opstra to bridge the gap between equity momentum and options planning.
For best results, develop a habit of:
- Screening on NSE Screener (EOD)
- Validating with option chain tools
- Managing risk with proper strategy selection
