Find Puts Worth Buying Before the Decay Hits.
Scans live options chains on every tracked leveraged and inverse ETF with three strategy modes: Long Puts, Bear Call Spreads, and Debit Put Spreads — all aligned with historical decay targets, sorted by return on risk, and backed by historical win rates.
Get Access — Free With Membership| Strike | Bid | Ask | Buy Under | Profit Projection |
|---|---|---|---|---|
| $38.00 | 1.45 | 1.62 | $4.03 | Profitable |
| $37.00 | 1.10 | 1.28 | $3.03 | Profitable |
| $36.00 | 0.82 | 0.97 | $2.03 | Profitable |
| $35.00 | 0.58 | 0.71 | $1.03 | Profitable |
| $34.00 | 0.38 | 0.48 | $0.03 | Loss |
The scanner combines live options data with historical decay analysis to surface actionable put opportunities across every tracked ETF.
For each leveraged and inverse ETF, the scanner calculates the running all-time low from the full price history going back to 2018. This is the decay target — the price the ticker has historically returned to after every spike. The ATL anchors every calculation that follows.
Foundation · Full history since 2018The scanner fetches the closest available expiration for each ticker and selects the five nearest put strikes at or above the ATL. Real-time bid and ask quotes are pulled for each contract, giving you the current market price to evaluate.
Live data · Closest expirationFor each strike, the "Buy Under" price tells you the maximum you can pay for the put and still profit if the ticker reaches its ATL by expiration. This is the intrinsic value at the decay target — anything below that number is a profitable entry at the current ask.
Actionable · Instant breakeven mathThe Profit Projection column compares the current ask price against the breakeven for each strike. If the ask is below the breakeven, it shows "Profitable" in green. If not, it shows "Loss" in red. No manual math required — you can scan dozens of contracts at a glance.
Color-coded · Green or red instantlyEach card shows the historical win rate — the percentage of past spike episodes where the ticker actually returned to its all-time low. Along with the number of historical samples, this gives you a data-driven probability to weigh against each trade's risk/reward profile.
Data-driven · Full sample transparencyEach data point in the scanner serves a specific purpose. Here's what you see and why it matters.
The five nearest put strike prices at or above the all-time low. Strikes below the ATL are filtered out since they'd have no intrinsic value at the decay target. Sorted from highest to lowest.
Real-time bid and ask quotes for each put contract. The ask is what you'd pay to buy the put. Shown regardless of market hours so you can plan entries before the open.
The maximum price you can pay for the put and still profit if the ticker hits its ATL. Calculated as strike minus ATL (the intrinsic value at the decay target). If the ask is below this number, the trade is profitable.
Compares the current ask against the Buy Under price. Shows "Profitable" in green when the ask is below the breakeven, or "Loss" in red when it's above. Scan an entire options chain in seconds.
The percentage of historical spike episodes where the ticker returned to its all-time low. A higher win rate means the decay target has been reached more consistently in the past.
The number of past spike episodes backing the win rate. More samples mean more statistical reliability. Fewer samples mean wider uncertainty. You decide how to weight it.
The median number of days it has historically taken for the ticker to return to its all-time low after a spike. Helps you judge whether the closest expiration gives the trade enough time to work.
Days to expiration and the expiration date for the contracts shown. The scanner automatically selects the nearest available expiration so you're always looking at the most liquid, lowest-theta contracts.
The Options scanner is included free with every CI Volatility membership — along with the Spike Analyzer, Decay Projection, Backtester, and 12 purpose-built tools.
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