Filters & Criteria

Overview

Filters allow you to narrow scanner results to trades that match your specific criteria. FlashAlpha supports simple filters and complex multi-condition logic.

Basic Filters

Expected Value Filters

• Min EV ($): Minimum expected value in dollars
• Min EV%: Minimum EV as percentage of risk
• Min EV/Day: Minimum daily expected value

Probability Filters

• Min PoP: Minimum probability of profit
• Max PoP: Maximum probability of profit
• Min P50: Minimum probability of 50% max profit

Risk Filters

• Max Risk ($): Maximum capital at risk
• Max Risk (%): Maximum risk as % of account
• Min Reward/Risk: Minimum reward-to-risk ratio

Time Filters

• Min DTE: Minimum days to expiration
• Max DTE: Maximum days to expiration
• Expiration Type: Weekly, Monthly, Quarterly

Volatility Filters

Implied Volatility

• IV Range: Filter by current IV level
• IV Rank: Filter by IV percentile (0-100)
• IV Percentile: Alternative IV measure

Volatility Comparison

• IV vs HV: Filter where IV > or < historical volatility
• IV Change: Filter by recent IV movement
• Skew: Filter by put/call volatility skew

Liquidity Filters

Volume & Open Interest

• Min Volume: Minimum daily volume
• Min OI: Minimum open interest
• Combined Min: Sum of all legs

Spread Width

• Max Bid-Ask %: Maximum spread as % of mid
• Max Bid-Ask $: Maximum spread in dollars

Greeks Filters

Delta

• Position Delta: Net delta of spread
• Delta Range: Per-leg delta requirements

Theta

• Min Theta: Minimum daily theta
• Theta/Risk: Theta as % of capital

Vega

• Max Vega: Maximum vega exposure
• Vega/Theta: Ratio filter

Gamma

• Max Gamma: Maximum gamma exposure

Price Filters

Underlying Price

• Price Range: Min/max underlying price
• Price vs MA: Price relative to moving average

Premium

• Min Credit: Minimum premium received
• Max Debit: Maximum premium paid
• Premium/Width: Premium as % of spread width

Advanced Filter Logic

AND Conditions

All conditions must be true:

EV% > 5 AND PoP > 60 AND DTE < 45

OR Conditions

Any condition can be true:

(IV Rank > 50) OR (EV% > 10)

Nested Logic

Combine AND/OR with parentheses:

(EV% > 5 AND PoP > 60) OR (EV% > 15 AND PoP > 40)

Filter Presets

Conservative Income

PoP > 70%
EV% > 3%
DTE: 30-45
IV Rank > 30
Max Risk < $500

Aggressive EV

EV% > 10%
PoP > 40%
DTE: 7-21
Min Volume > 100

Balanced

PoP: 55-70%
EV% > 5%
DTE: 21-45
IV Rank: 30-70

Saving Filter Sets

1. Configure your filters
2. Click Save Filters
3. Name your filter set
4. Access from Saved Filters dropdown

Tips for Effective Filtering

Start Broad, Then Narrow

Begin with loose filters, then tighten based on result count.

Don't Over-Filter

Too many filters = missed opportunities. Focus on what matters most.

Consider Market Conditions

Adjust filters based on:

• Overall market volatility
• Sector trends
• Earnings season

Test Filter Performance

Backtest your filter combinations to see historical results.