I've been using a pair of Filter Mags on my spin-on oil filter for the last 2-3 years.
See pic.
The steel shell of an auto oil filter is only .010" thick so the field of the magnets
goes right thru!
On hydraulic filters with a 400 PSI burst rating and a .030" thick steel the field is
reduced by more then half, but not an issue for automotive.
To chose a filter magnet that works:
1 - check clearance all around sides of oil filter - you need 1/2" clearance
2 - measure diameter of filter then go to the Filter Mag website and decide
3 - on the cheap, you can buy neodymium bar magnets after you decide on a size that fits.
(Leave enough room to use whatever filter cap wrench to remove filter)
4 - DON'T use a filter magnet that goes on the end of the filter, too little
flow there and catches nothing - I've tried it already!
5 - DON'T bother with oil plug magnets, not enough flow past the magnet for it
to pick up any visible material - I've tried it already!
6 - Filter Mags can be bought on Ebay, Summit Racing and other locations.
7 - I use a combo of Filter Mags and every other magnet I can jam on there!
8 - A single magnet is not enough to make a difference, I ramped up the magnets and saw better results each time.
This also applies to magnets inside the transmission oil pan, be careful though, there's not a lot of space!