Simplifying the Stocks selection process for the Option Trade:

As per Santoshji’s teaching way to take an Option Trade based on IV is as shown below [based on “VIX”]:
VIX Zone From to VIX Level Zone Strategy
52W-High 22.1850 1 22.1850 19.6340 Very High Credit Short Straddle OR Short Strangle
12.7550 2 19.6340 17.0830 High Credit Short Iron Condor OR Short Iron Butterfly
3 17.0830 14.5320 Neutral Credit Iron Butterfly
4 14.5320 11.9810 Low Debit Calendar Spread
52W-Low 9.4300 5 11.9810 9.4300 Very Low Debit Calendar Spread
As per ‘Trades Lounge’ using “Options Dashboard” [have modified] the same based on above teaching:
Zone From to IVP Level Zone Strategy [Not exactly as per the Web-page]
1 100 85 Very High Credit Short Straddle OR Short Strangle
2 86 70 High Credit Short Iron Condor OR Short Iron Butterfly
3 69 41 Neutral Credit Iron Butterfly
4 40 21 Low Debit Calendar Spread
5 20 1 Very Low Debit Calendar Spread

The most difficult part for the ‘Option Trade’ is the selection process of Stock for the Option Trade, hope you agree with me.
Following my past few months experiments & experience have worked on a system as described below:

Using “Options Dashboard” @ http://opstra.definedge.com/options have found the same easy and the Process followed is detailed below:

Pls have a look at the following screen shot before you go further, mind you it is only for illustration purpose:

As can be seen above and as mentioned within the screen shot I use following steps once the page Refreshed:
1 Once the page is refreshed I click on button so that only Liquid Stocks appears on the page,
2 Next I click on button so that Stocks with “Highest” IVP appears on the page,
3 Next I click on so that “Highest” change in IV is sorted and appears on the top of the page,
4 Once this is done we have Stocks with Highest Liquidity, Highest IVP & Highest change in IV @ EOD is on this web page, [for the complete
result of these actions see last page where a screenshot for the EOD 20Feb19 is displayed],
5 Thus we have the short list of Stocks to initiate an Option Trade, so next check on the charts for the same and establish the ‘Trend’ for each
one of them,
6 Thus have all Technical Data for each stock and now need to check on the ‘Volume’ of contracts traded on EOD basis,
7 That can be checked in ‘Options Oracle’ by sorting the ‘Open Int’ column so that have strikes with highest OI is displayed on top, thus have all
3 important parameters are in front of me, the Strikes with good A/B Spread, good Volume and reasonably good OI,
8 With all these info’ now it is easy to plan an Option Trade with good probability of profit,

Hope you like the process, and make more winning Option Trades than loosing ones.

Just like to add following based on the C Surya Prakash “Option IV EOD Scanner”:
Short Strangle IVP range (100-90)
Short Straddle IVP range (90-80)
Short Iron Condor IVP range (80-60)
Short Iron Butterfly IVP range (60-40)
Calendar Spread VIP range (40-0)
The above parameters are used while suggesting the Option Trades in his Option IV Scanner.
Screenshot for the EOD 20Feb19