Watchlist Management
Track opportunities over time, monitor performance, and make informed decisions about when to enter or exit positions.
What Is the Watchlist?
The Watchlist is your personal tracking system for options opportunities you're considering or actively monitoring.
Unlike your symbol list (which determines what gets scanned), the watchlist tracks specific option contracts with their
entry prices, current performance, and key metrics.
Key Difference
- Symbol List: Stocks you want the platform to scan (e.g., AAPL, MSFT, SPY)
- Watchlist: Specific option contracts you're tracking (e.g., AAPL Jan 180 Call)
Adding to Your Watchlist
There are multiple ways to add opportunities to your watchlist:
Method 1: From Dashboard
- Browse opportunities in your dashboard table
- Find an opportunity you want to track
- Click the "Add to Watchlist" button in the Actions column
- The opportunity is instantly added with current pricing
Method 2: From Opportunity Details
- Click "View Details" on any opportunity
- Review the comprehensive analysis
- Click "Add to Watchlist" at the top of the details page
- Optionally add notes about why you're tracking this opportunity
Watchlist Information
For each watchlisted opportunity, you'll see:
| Field |
Description |
| Symbol |
The underlying stock ticker |
| Type |
Call or Put |
| Strike |
Option strike price |
| Expiration |
Expiration date with countdown (e.g., "14 days") |
| Entry Price |
The price when you added it to watchlist (your reference point) |
| Current Price |
Live option price (updated with market data) |
| Change % |
Percentage change from entry price (green = profit, red = loss) |
| Expected Return |
Projected return if target is reached |
| Risk Score |
Current risk rating (may change as expiration approaches) |
Monitoring Performance
The watchlist provides real-time performance tracking:
Profitable Positions
When an opportunity's current price is above your entry price, it displays in green.
The percentage change shows how much profit you would have if you entered at the tracked price.
Example: Entry $2.50, Current $3.00 = +20% (shown in green)
Losing Positions
When an opportunity's current price is below your entry price, it displays in red.
The percentage change shows your unrealized loss.
Example: Entry $2.50, Current $2.00 = -20% (shown in red)
Actions You Can Take
View Full Details
Click the opportunity row or "View Details" button to see comprehensive analysis including:
- Current Greeks (Delta, Gamma, Theta, Vega)
- Historical price charts
- Probability calculations
- Strategy recommendations
- Underlying stock information
Remove from Watchlist
If you no longer want to track an opportunity:
- Locate the opportunity in your watchlist
- Click the Remove or icon
- Confirm the removal
- The opportunity is removed from tracking (but remains in scan results if it still qualifies)
Add Notes (Future Feature)
Track your thoughts and rationale for each watchlisted opportunity. Useful for:
- Recording entry/exit triggers
- Noting technical or fundamental reasons
- Setting price alerts
- Documenting your trading thesis
Best Practices
Watchlist Management Tips
- Add Before You Buy: Track opportunities for a few days before entering to understand price movement
- Set Exit Criteria: Define your profit target and stop loss before adding to watchlist
- Regular Review: Check watchlist daily to monitor changes in metrics and prices
- Track Winners and Losers: Keep opportunities in watchlist even after trading to learn from results
- Don't Overcrowd: Limit to 10-20 opportunities so you can focus on quality analysis
- Expiration Awareness: Remove or act on opportunities approaching expiration (7 days or less)
Understanding Entry Price
The entry price is captured when you add an opportunity to your watchlist. This is NOT necessarily
the price you actually paid (if you entered a position)—it's your reference point for tracking.
Important Note
The watchlist is for tracking and monitoring, not trade execution. You still need to place actual
trades through your brokerage account. The entry price helps you compare current pricing to when you first identified the opportunity.
Watchlist vs. Active Positions
Understanding the distinction:
| Watchlist |
Active Positions (in your broker) |
| Opportunities you're considering or monitoring |
Trades you've actually executed |
| Entry price = when you added to watchlist |
Entry price = actual fill price from broker |
| No real money at risk |
Real capital deployed |
| Used for research and planning |
Requires active risk management |
| Easy to add/remove without consequences |
Closing requires market order execution |
Common Workflows
Research Workflow
- Scan dashboard for high composite score opportunities
- Add 5-10 interesting opportunities to watchlist
- Monitor for 2-3 days to see price stability and trend
- View detailed analysis for top performers
- Execute trade through broker on 1-2 best opportunities
- Keep in watchlist to track actual vs expected performance
Expiration Management Workflow
- Sort watchlist by expiration date (nearest first)
- Review opportunities expiring within 7 days
- Decide: enter position, continue watching, or remove
- For entered positions: plan exit strategy before expiration
- Remove opportunities after expiration or after closing position
Troubleshooting
Why isn't my watchlist updating?
- Prices update during market hours (9:30 AM - 4:00 PM ET)
- After hours, prices show last market close
- If opportunity no longer meets scan criteria, it may be removed from active opportunities but remains in watchlist
Can I track options not found by the scanner?
Currently, you can only watchlist opportunities identified by the platform's scans. To track custom options,
add the underlying symbol to your monitored symbols list with appropriate risk parameters.
Next Steps