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How to SCAN for Liquid Stocks on ThinkorSwim: E2

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Welcome to another episode of Beginner’s Blitz, where we discuss essential concepts for those starting in the stock market. In this video, we’ll explore how to scan for liquid stocks using the Thinkorswim platform.

Liquidity refers to the ease of trading a stock due to high trading activity and popularity. Liquid stocks have narrow bid-ask spreads, making it easier to enter and exit positions without significant price fluctuations. Scanning for liquid stocks will help you find popular and active trading opportunities with ease.

Step 1: Access the Scan Tab

In Thinkorswim, navigate to the Scan tab to begin your stock search. This feature allows you to filter stocks based on specific criteria.

Step 2: Set Criteria for Liquidity

To scan for liquid stocks, focus on stocks with weekly options. Weekly options availability is a good indicator of a stock’s liquidity, as it suggests active trading and popularity. Select the “Weeklies” section in the public section of the scan tab.

Step 3: Define Price Range

Determine the price range you want to scan for. You can set a minimum and maximum price, such as $15 to $999, to ensure you are considering stocks within your preferred range.

Step 4: Filter by Volume

Next, add a volume filter to narrow down the results further. Setting a volume threshold, such as 900,000 shares, will help you focus on stocks with significant trading activity.

Step 5: Sort by Volume

Once you have your results, sort the stocks by volume in descending order. This will display the most actively traded stocks at the top of the list.

Step 6: Analyze the Results

Review the scanned results to find liquid stocks that match your criteria. Stocks with high trading volume and narrow bid-ask spreads are excellent candidates for day trading or short-term positions.

Step 7: Consider Additional Criteria

If needed, you can add more filters or condition groups to refine your scan results further. However, the weekly options and volume filters should already give you a good selection of liquid stocks.

Conclusion

Scanning for liquid stocks is essential for traders seeking easy and efficient trading opportunities. Using the Thinkorswim platform, you can filter stocks based on weekly options availability and volume to identify highly liquid stocks.

Liquid stocks offer tighter bid-ask spreads, making it more cost-effective to trade and reducing the risk of slippage. By following these steps and analyzing the results, you can find liquid stocks that align with your trading goals. Happy scanning and best of luck with your trading journey!

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