Some trading strategies take into account the company's or option's liquidity. Option Samurai has several simple ways to screen results based on this criteria.
"Total Option Volume" or "Total Open interest"
Add filter "Total Option Volume" or "Total Open interest". These filter check the volume or OI across the entire chain. We set the value to greater than 10,000 to insure enough liquidity.
Add the filter "open interest" which checks the OI on a specific option. If you use 'total option volume/OI' then you can set this on greater than 10/50 (or above 100 for added liquidity)
"Bid ask spread"
Add the filter "bid and ask spread" (which measure the spread between the bid and ask during live trading). We usually use under 50 or 25 cents.
Add the filter "Average volume" filter (measure the average volume over the last month) and adjust the criteria as necessary.