Stocks under $2 for day trade today

Screening Filters

1. Price: min = 0.25, max = 2

   • Purpose: Find low-priced stocks under $2 while excluding ultra‐cheap, typically illiquid “lottery ticket” names.
   • Rationale:
     • The user explicitly wants “stocks under $2,” so the max = 2 directly matches that requirement.
     • The min = 0.25 avoids sub‑penny and micro‑cent stocks that often have huge spreads, low liquidity, and are harder to day trade efficiently.

2. Relative Volume (relative_vol): min = 1.5

   • Purpose: Ensure the stock is trading with unusually high activity today compared with its normal volume.
   • Rationale:
     • Relative volume ≥ 1.5 means today’s trading volume is at least 50% higher than average.
     • For day trading, you want stocks that are “in play” – more traders, more orders, better liquidity, and clearer intraday moves. This filter targets exactly that.

3. Weekly Average Dollar Volume (weekly_average_dollar_volume): min = 500,000

   • Purpose: Guarantee a minimum level of liquidity in dollar terms.
   • Rationale:
     • Dollar volume = price × volume; a weekly average ≥ $500k implies that, on average, meaningful cash is trading in and out.
     • For day traders, this helps ensure:
       • Tighter spreads
       • Easier fills for entries and exits
       • Less slippage when trading intraday

4. Price Change % (price_change_pct): min = -10, max = 10

   • Purpose: Focus on stocks that are moving, but not already in extreme gap-up or crash territory.
   • Rationale:
     • Day traders need some volatility, but stocks that are up or down more than 10% may already have made their main move or be dominated by chaotic, news-driven spikes.
     • Keeping moves between -10% and +10% balances tradable volatility with risk control and avoids the most unstable tickers.

Why Results Match:

• The price cap at $2 directly aligns with your request for “stocks under $2.”
• The relative volume and dollar volume filters target names that are actively traded today, which is crucial for day trading (you need liquidity and intraday movement, not dead tickers).
• The price change % range keeps stocks in a zone where they are moving enough to be interesting for intraday trades but not so extreme that they are purely speculative blow‑ups.
• Together, these filters narrow the universe to sub‑$2 stocks that are liquid and in play today, making them more suitable candidates for day trading than a simple price-only screen.