PMCC Scanner
Finds optimal Poor Man's Covered Call setups by scoring symbols on option chain quality.
What is PMCC?
Buy deep ITM LEAPS call (delta ~0.80) + Sell short-term OTM call (delta ~0.20) against it. Cheaper alternative to covered calls.
Instructions
Note: If uv is not installed or pyproject.toml is not found, replace uv run python with python in all commands below.
uv run python scripts/scan.py SYMBOLS [options]
Arguments
SYMBOLS - Comma-separated tickers or path to JSON file from bullish scanner--min-leaps-days - Minimum LEAPS expiration in days (default: 270 = 9 months)--leaps-delta - Target LEAPS delta (default: 0.80)--short-delta - Target short call delta (default: 0.20)--output - Save results to JSON file
Scoring System (max ~11 points)
| Category |
Condition |
Points |
| Delta Accuracy |
LEAPS within ±0.05 |
+2 |
|
LEAPS within ±0.10 |
+1 |
|
Short within ±0.05 |
+1 |
|
Short within ±0.10 |
+0.5 |
| Liquidity |
LEAPS vol+OI > 100 |
+1 |
|
LEAPS vol+OI > 20 |
+0.5 |
|
Short vol+OI > 500 |
+1 |
|
Short vol+OI > 100 |
+0.5 |
| Spread |
LEAPS spread < 5% |
+1 |
|
LEAPS spread < 10% |
+0.5 |
|
Short spread < 10% |
+1 |
|
Short spread < 20% |
+0.5 |
| IV Level |
25-50% (ideal) |
+2 |
|
20-60% |
+1 |
| Yield |
Annual > 50% |
+2 |
|
Annual > 30% |
+1 |
Output
Returns JSON with:
criteria - Scan parameters usedresults - Array sorted by score:
symbol, price, iv_pct, pmcc_scoreleaps - expiry, strike, delta, bid/ask, spread%, volume, OIshort - expiry, strike, delta, bid/ask, spread%, volume, OImetrics - net_debit, short_yield%, annual_yield%, capital_required
errors - Symbols that failed (no options, insufficient data)
Examples
# Scan specific symbols
uv run python scripts/scan.py AAPL,MSFT,GOOGL,NVDA
# Use output from bullish scanner
uv run python scripts/scan.py bullish_results.json
# Custom delta targets
uv run python scripts/scan.py AAPL,MSFT --leaps-delta 0.70 --short-delta 0.15
# Longer LEAPS (1 year minimum)
uv run python scripts/scan.py AAPL,MSFT --min-leaps-days 365
# Save results
uv run python scripts/scan.py AAPL,MSFT,GOOGL --output pmcc_results.json
Key Constraints
- Short strike must be above LEAPS strike
- Options with bid = 0 (illiquid) are skipped
- Moderate IV (25-50%) scores highest
Interpretation
- Score > 9: Excellent candidate
- Score 7-9: Good candidate
- Score 5-7: Acceptable with caveats
- Score < 5: Poor liquidity or structure
Dependencies
numpypandasscipyyfinance
1---2name: scanner-pmcc3description: Scan stocks for Poor Man's Covered Call (PMCC) suitability. Analyzes LEAPS and short call options for delta, liquidity, spread, IV, and yield. Use when user asks about PMCC candidates, diagonal spreads, or LEAPS strategies.4---56# PMCC Scanner78Finds optimal Poor Man's Covered Call setups by scoring symbols on option chain quality.910## What is PMCC?1112Buy deep ITM LEAPS call (delta ~0.80) + Sell short-term OTM call (delta ~0.20) against it. Cheaper alternative to covered calls.1314## Instructions1516> **Note:** If `uv` is not installed or `pyproject.toml` is not found, replace `uv run python` with `python` in all commands below.1718```bash19uv run python scripts/scan.py SYMBOLS [options]20```2122## Arguments2324- `SYMBOLS` - Comma-separated tickers or path to JSON file from bullish scanner25- `--min-leaps-days` - Minimum LEAPS expiration in days (default: 270 = 9 months)26- `--leaps-delta` - Target LEAPS delta (default: 0.80)27- `--short-delta` - Target short call delta (default: 0.20)28- `--output` - Save results to JSON file2930## Scoring System (max ~11 points)3132| Category | Condition | Points |33|----------|-----------|--------|34| **Delta Accuracy** | LEAPS within ±0.05 | +2 |35| | LEAPS within ±0.10 | +1 |36| | Short within ±0.05 | +1 |37| | Short within ±0.10 | +0.5 |38| **Liquidity** | LEAPS vol+OI > 100 | +1 |39| | LEAPS vol+OI > 20 | +0.5 |40| | Short vol+OI > 500 | +1 |41| | Short vol+OI > 100 | +0.5 |42| **Spread** | LEAPS spread < 5% | +1 |43| | LEAPS spread < 10% | +0.5 |44| | Short spread < 10% | +1 |45| | Short spread < 20% | +0.5 |46| **IV Level** | 25-50% (ideal) | +2 |47| | 20-60% | +1 |48| **Yield** | Annual > 50% | +2 |49| | Annual > 30% | +1 |5051## Output5253Returns JSON with:54- `criteria` - Scan parameters used55- `results` - Array sorted by score:56 - `symbol`, `price`, `iv_pct`, `pmcc_score`57 - `leaps` - expiry, strike, delta, bid/ask, spread%, volume, OI58 - `short` - expiry, strike, delta, bid/ask, spread%, volume, OI59 - `metrics` - net_debit, short_yield%, annual_yield%, capital_required60- `errors` - Symbols that failed (no options, insufficient data)6162## Examples6364```bash65# Scan specific symbols66uv run python scripts/scan.py AAPL,MSFT,GOOGL,NVDA6768# Use output from bullish scanner69uv run python scripts/scan.py bullish_results.json7071# Custom delta targets72uv run python scripts/scan.py AAPL,MSFT --leaps-delta 0.70 --short-delta 0.157374# Longer LEAPS (1 year minimum)75uv run python scripts/scan.py AAPL,MSFT --min-leaps-days 3657677# Save results78uv run python scripts/scan.py AAPL,MSFT,GOOGL --output pmcc_results.json79```8081## Key Constraints8283- Short strike **must be above** LEAPS strike84- Options with bid = 0 (illiquid) are skipped85- Moderate IV (25-50%) scores highest8687## Interpretation8889- Score > 9: Excellent candidate90- Score 7-9: Good candidate91- Score 5-7: Acceptable with caveats92- Score < 5: Poor liquidity or structure9394## Dependencies9596- `numpy`97- `pandas`98- `scipy`99- `yfinance`
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