VolRadar vs Covered Call Pro for Covered Call Screening: Which Tool Should You Use?

The Short Answer Before You Read Further

If you already own stocks and want a fast, focused workflow for selling covered calls on those positions, Covered Call Pro is built specifically for that job. VolRadar is a broader volatility-analysis platform that suits traders who want deep IV-rank data and multi-strategy scanning across the whole options market. The right choice depends on whether you need a dedicated covered-call income tool or a wide-angle volatility dashboard.

What Each Platform Actually Does

VolRadar positions itself as a volatility screener first. It pulls implied volatility rank (IVR) and implied volatility percentile (IVP) across hundreds of underlyings, flags unusual options activity, and lets you filter by strategy type — including covered calls, but also strangles, iron condors, and other multi-leg trades. It is popular with traders who run a diversified options book and want one dashboard for all of it.

Covered Call Pro is purpose-built for one strategy: selling covered calls on stocks you already hold. The screener filters by premium yield, days to expiration, delta, and bid-ask spread quality — the four variables that matter most when you are trying to generate monthly income on a long equity portfolio. There is no noise from strategies you are not running. Every column on the screen answers the question a covered-call writer actually asks: 'Is this strike worth selling this week?'

A Real Trade: Screening AAPL With Both Approaches

Let's make this concrete. Suppose you own 100 shares of Apple (AAPL) purchased at $172 and the stock is currently trading at $189.40 (prices used for illustration; always verify live quotes before trading).

Using a VolRadar-style workflow, you would first check AAPL's IVR. Say it reads 34 — meaning current implied volatility sits at the 34th percentile of its one-year range. VolRadar would flag this as moderate, not a screaming-high premium environment. You would then navigate to an options chain view, pick an expiration, and manually evaluate strikes.

Using the Covered Call Pro screener on the same position, you enter your cost basis ($172) and current share price ($189.40). The tool immediately surfaces the strikes that meet your income target. For example, the $195 call expiring in 21 days might show a mid-price of $1.82, a delta of 0.24, and an annualized yield of 5.8% on the position. The $192.50 call at the same expiration shows $2.65, delta 0.31, annualized yield 8.4%. You can see at a glance that the $192.50 strike pays more but carries a higher assignment risk — meaning if AAPL closes above $192.50 at expiration, your shares get called away at that price.

The difference is workflow speed. VolRadar gives you the raw volatility intelligence; Covered Call Pro translates that intelligence directly into a ranked list of actionable strikes for your specific position.

Honest Risks You Need to Know Before Picking a Tool

No screener eliminates the core risks of covered-call writing, and it is important to name them up front rather than bury them.

Capped upside is real. If AAPL jumps from $189.40 to $205 before expiration and you sold the $192.50 call, you miss $12.50 per share of that gain. A screener that optimizes for premium yield will naturally push you toward higher-delta strikes — which means more income but more assignment risk. Always check the delta column and understand what it means: a delta of 0.30 implies roughly a 30% chance the option expires in the money, according to the Options Industry Council (OIC).

Early assignment is possible on American-style options. FINRA and the OIC both note that short calls on dividend-paying stocks carry elevated early-assignment risk around the ex-dividend date. If a tool does not flag upcoming dividends, you could be caught off guard.

Tax treatment matters. In the US, the IRS treats premiums received from covered calls as short-term capital gains in most cases, and selling a call can affect the holding period of your underlying shares under the qualified covered call rules (IRS Publication 550). In Canada, the CRA has its own rules on option premiums and adjusted cost base. Neither VolRadar nor Covered Call Pro provides tax advice — consult a tax professional before you start writing calls on shares you have held for less than a year.

Data latency is a risk with any screener. Options premiums move fast. A yield that looks attractive in a morning scan may be stale by the time you enter your order. Always confirm the live bid-ask spread in your broker's platform before placing a trade.

Feature-by-Feature Comparison

Here is a plain side-by-side look at the features that matter most to covered-call income traders.

Strategy focus: VolRadar covers the full options strategy spectrum. Covered Call Pro covers covered calls exclusively.

IV rank and percentile data: VolRadar is strong here — it is the core of the product. Covered Call Pro incorporates IV context into its yield calculations but does not expose raw IVR as a standalone metric.

Position-based filtering: Covered Call Pro lets you input your actual cost basis and current holdings so every result is relevant to your portfolio. VolRadar scans the market broadly without a portfolio-import layer.

Premium yield ranking: Covered Call Pro ranks strikes by annualized yield, net premium, and return-if-called in one view. With VolRadar, you build this view yourself.

Bid-ask spread quality filter: Covered Call Pro flags strikes where the spread is too wide to get a fair fill — critical for retail traders on less-liquid names. VolRadar surfaces liquidity data but does not filter it automatically for covered-call use.

Learning curve: VolRadar assumes you understand options Greeks and volatility concepts. Covered Call Pro is designed for investors who are newer to options income or who want a faster workflow without a steep learning curve.

Pricing: Both platforms offer subscription tiers. Check each provider's current pricing page, as rates change. Factor in whether you need one tool or both — some active traders use VolRadar for market-wide volatility context and Covered Call Pro for their actual trade selection.

Who Should Use Which Tool?

Choose VolRadar if you run a multi-strategy options book, actively trade strangles or spreads alongside covered calls, and want granular IV-rank data to time your entries across the whole market. It rewards traders who are comfortable reading volatility charts and building their own trade filters.

Choose Covered Call Pro if your primary goal is generating income from stocks you already own, you want a screener that does the filtering work for you, and you value a clean workflow over a feature-heavy dashboard. It is also the better starting point if you are newer to covered calls and want guardrails — like automatic flagging of wide spreads and upcoming ex-dividend dates — built into the tool.

Many serious covered-call traders end up using both: VolRadar to understand the macro volatility environment (is IV elevated enough to make selling premium worthwhile right now?) and Covered Call Pro to execute the actual strike selection on their portfolio. That combination costs more but removes the two biggest friction points in the covered-call workflow: knowing when to sell and knowing exactly what to sell.

Bottom Line: Match the Tool to Your Actual Workflow

The best screener is the one you will actually use every week. VolRadar is a powerful volatility platform that happens to support covered calls. Covered Call Pro is a covered-call platform that happens to be powerful. If your portfolio is mostly long equities and your goal is consistent monthly income, the purpose-built tool wins on speed and simplicity. If you are running a more complex options book and need volatility intelligence across dozens of strategies, VolRadar earns its place.

Either way, remember that a screener is a starting point, not a guarantee. Verify every output against a live options chain in your brokerage account, understand the tax implications for your jurisdiction (IRS Publication 550 in the US; CRA guidance for Canadian traders), and never sell a covered call on shares you cannot afford to have called away at the strike price you chose.

Is VolRadar good for covered call screening specifically?

VolRadar is a strong volatility screener that can support covered-call research, especially for traders who want raw IV-rank and IV-percentile data. However, it is not purpose-built for covered calls, so you will need to build your own filters for yield, delta, and spread quality. Traders who want a faster, more focused workflow often find a dedicated covered-call tool more practical for day-to-day trade selection.

Can I use both VolRadar and Covered Call Pro together?

Yes, and many active covered-call traders do exactly that. A common workflow is to use VolRadar to assess whether the broader volatility environment justifies selling premium right now, then switch to Covered Call Pro to identify the specific strikes worth selling on your existing positions. Using both adds subscription cost but removes the two biggest friction points in the process.

What delta should I target when selling covered calls?

Most income-focused covered-call writers target a delta between 0.20 and 0.35, which the Options Industry Council (OIC) describes as roughly a 20–35% probability of the option expiring in the money. Lower delta means less premium but lower assignment risk; higher delta means more premium but a greater chance your shares get called away. The right delta depends on your income target and how attached you are to holding the underlying stock.

How does selling a covered call affect my taxes in the US?

The IRS generally treats premiums received from covered calls as short-term capital gains, reported in the tax year the option expires, is closed, or is exercised. Selling a call can also suspend or reset the holding period on your underlying shares under the qualified covered call rules outlined in IRS Publication 550. Always consult a tax professional before writing calls on shares you plan to hold long-term for preferential capital-gains treatment.

What is the biggest risk of relying on a covered-call screener?

The biggest risk is acting on stale data. Options premiums can move significantly between the time a screener refreshes and the moment you place your order, especially around earnings announcements or macro events. Always confirm the live bid-ask spread and current premium in your broker's platform before entering a trade, regardless of which screener you use.

Do covered-call screeners work for Canadian investors?

Yes, most covered-call screeners including Covered Call Pro can be used by Canadian investors trading US-listed options on stocks held in taxable or registered accounts. However, Canadian traders should note that the CRA has specific rules on how option premiums are treated for tax purposes, which differ from IRS rules in the US. Consult a Canadian tax advisor familiar with CRA guidance on derivatives before starting a covered-call income strategy.