Try the following:
1) Go to stock list filter (from nav bar or site map)
2) In Step 2: Choose Stocks to Rank, Under "Use Stocks in the list" click on the drop down arrow and scroll down the list and below List 20 and My Stock List you should see Expensive IV Stocks, then Cheap IV Stocks. Look just above DJ 30 and you should see Breakout Low IV Stocks, keep going up.
If you don't see these, email me at ray.vos@optionetics.com with your platinum user ID and I'll try to replicate what you're seeing.

Very clear, thanks. Only, you say that an "expensive IV list is already included in the drop down selected stock lists". Where is it exactly?
As prepared lists I just see DJ 30, DJ Transports, S&P 500, .... till Russel 2000 optionable, but no "expensive IV list"

The precomputed rankings shows stocks with high IVs, which could also be viewed as high extrinsic value if they're OTM (since it's all extrinsic). The expensive IV list is already included in the drop down selected stock lists so you could use that as your input list to run searches and then add your search thresholds such as strikes 0-10% above (or below) stock price to find OTM (all extrinsic) calls / puts and then sort by ATM IV. Just a thought.

Updated by rayvos on 11/6/09 10:25 AM

Perfect, thank you.
This approach should be suitable even for searching ATM front month options with the most (or the least) extrinsic value. Or do you know anything better ?

Here's an approach using Find Trades III in platinum pro:
a)select a list of stocks, this allows you to do prefiltering such as volume, price range.
b)in the 'Allowed Strike Variation' section of the Search Parameters set the Primary strike UP search to 0 and set the Primary strike DOWN search to 0 - this forces the search to be close to the current price.
c)in the Expiration and Time Filters section set the min Days to expiration must be greater than 5 days and the Days to expiration must be less than 30 days - you can adjust these limits.
d) select a 'buy call' trade. use the Smart Search wizard select Call and then click GO.
e) save the trade so that if the search needs to be continued you can do so since only saved trades can continue searches.
click Search.
Just above the results table that comes up, click on the Greeks link which will list the greeks. Click on the Vega column to order, click again to order in the opposite order.
If the search time expired before searching through all stocks in your list, click the continue button and you'll get an page with the next set of stocks.
You can do d) again by selecting a 'buy put' trade. The greeks are only slightly different.

Please, how may Platinum find those stocks whose ATM front month options have the highest vega ?
Thank you