OPERATOR System · Members
OPTIONS CHECKLIST
60-second pre-trade check · IV rank · strike selection · expiration guide · verdict
Trade inputs
Open TOS → Trade tab → Options chain → Implied Volatility column
TOS → Options chain → look for highest IV over past year (or use 80 as default estimate)
Use 15 as a safe default if unknown
TOS options chain → OI column at your ATM or 1-ITM strike
Ask minus Bid at your target strike. Under $0.15 = acceptable.
Days to expiration. Use 30-45 DTE for standard swing trades.
Checklist results
○
Fill in inputs to run the checklist
Enter stock price, IV, open interest, spread, DTE, and hold time on the left. The checklist will evaluate all 6 criteria and give you a verdict.
Strike selection by stock price
Stock priceBuy this strikeNever buy
$4.00–$6.00$5 call (ATM)$6 or $7 call
$6.00–$8.00$7 call (ATM/1 ITM)$8 or $9 call
$8.00–$10.00$9 or $10 call$11+ call
$10.00–$12.00$10 or $11 call$13+ call
RuleNever go more than $1 OTM on stocks under $10
Expiration by hold time
Hold timeBuy this DTEStatus
2–5 days21–30 DTEOK
5–15 days30–45 DTEIdeal
15–20 days45–60 DTEOK
Same weekWeekly optionsNever
Under 7 DTEAnyExit now
IV Rank guide
IVRPremium costAction
0–20Very cheapBuy calls
20–30AffordableBuy calls
30–50ModerateReduce size
50–70ExpensiveStock preferred
70+IV crush riskStock only
Position sizing at 100 shares
Premium costContractsTotal risk
Under $801–2$80–$160 ✓
$80–$1501$80–$150 ✓
$150–$2501 (half)$150–$250 ⚠
Over $2500 — skip optionsBuy stock instead
Stop lossExit when option loses 40–50% of value