Options trading alert services go a step further than courses by coming up with trade ideas, options picks and specific recommendations. Get trade alerts, market hours stock picks with relevant options contracts to trade, and access to excellent learning material.
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Best Options Trading Alert Services
What is the best option trading advisory service to consider to ensure a positive experience trading options? This guide describes five legitimate picking services, explains the differences, and reveals the costs and best offers.
1. Option Strategies Insider
Option Strategies Insider was created to teach how to trade options properly – based on insider knowledge, and the profit power of trading options. Some of you may have made similar experiences like the founder Chris Douthit.
In 2014, he was using an options trade alert service and noticed there was a big problem with the service. It was operated by people who had no professional options trading experiences, nor any education in general finance.
Chris Douthit decided to make a difference by creating Option Strategies Insider to enable investors to understand the methodologies and options trading strategies correctly. Chris holds an MBA and multiple finance degrees and worked as a professional trader for Leads & Kellogg, Spear, TFM, and Goldman Sachs.
20 years of experience in the industry and propper knowledge based on experiences by working with some of the best options traders are a solid foundation to get things done right.
Options Strategies Insider offers two core products and services. First, the training center, where in-depth options trading education material can be found. Second, trade alerts with specific portfolio recommendations.
I like that the detailed trade alerts information is available for all open trades. As a new subscriber, you can log in and study the exact trade alerts for all open trades. This helps understand even better what kind of alerts to expect.
Costs
The Executive Membership with instant trade alerts, member forum access and three options trading courses costs $97 per month and focuses on short-term quick profits. The Ultra Membership, focuses on both, long-term large profits and short-term quick profits and costs $167 per month.
2. InsiderFinance
InsiderFinance is different from a traditional options advisory service. InsiderFinance is an options scanner to follow, monitor and find the largest options-related order flows in the market. Options traders use the tool to follow the smart money from institutions with a proprietary algorithm to find the best possible option trades.
Unusual options activity screeners often indicate that big players in the market know about major news before they are announced, and the InsiderFinance trading software helps subscribers to identify such trading opportunities.
InsiderFinance belongs to the options analysis services best for investors willing to choose the best possible options contracts based on pre-defined or customized screener results. Various pre-configured screeners are implemented, but it is also possible to define specific scanner criteria.
Stock options are analyzed for potential bullish and bearish trades, and the results are shown in real-time. A sweep scanner and dark pool prints analysis is also included, and the analysis and chart functionality makes the offer complete.
Costs
Each InsiderFinance plan provides access to all features. There are three paid plans available. A subscription costs $99 paid monthly, $255 paid quarterly, or $900 paid yearly. The link below reduces the price for all subscriptions by 25%, plus you get an additional 20% Off with the promo code DAYTRADINGZ20.
3. Market Chameleon
Market Chameleon customers use the tool to analyze options activity. It is not the fanciest-looking options trading alert service, and some may say that the website design looks outdated. But the point is that Market Cameleon focuses on numbers and allows the investor to analyze options contracts like no other tool in this list.
Market Chameleon is like using a finance API with Google Sheets or Microsoft Excel. All results are visualized in tables where you can sort and filter based on your requirements.
Users can sign in and scan the price data and other fundamental data points for catalyst events, implied volatility movers, open interest changes, and implied volatility rankings. You can also backtest trade ideas, analyze pre-market and after-hours trading, scan for gaps and unusual trading volume.
Millions of options and stock data points are available to calculate all sorts of statistics. For example, you can use the data to find high-yield trade ideas with high probabilities of success.
Costs
The all-in-one research platform Market Chameleon costs $99 per month. This unlocks the modules Stock Trader, Options Trader, and Earnings Trader.
4. Mindful Trader
Eric Ferguson, the founder of Mindful Trader, invested over $200,000 and 4 years of his time developing the strategies used in his service. The median annual return during the 20-year backtest of his strategies is 181%. Eric started live-trading his strategies in November 2020, and the total return on the account is better than the overall S&P500 performance.
Eric began by primary trading stocks and the micro Emini S&P500 future but added options picks in April 2021. Mindful Trader is a hybrid trading service offering stock picks, options picks, and, occasionally, the S&P500 index via micro future contracts.
Mindful Traders stands out from other services by providing one of the best options trading courses for beginners with insights into the exact trading methodology. Subscribers gain access to multiple explainer videos covering options trading strategies and trading system development insights.
Costs
Mindful Trader costs $47 per month, and members receive about three stock buy signals, stock options trading alerts, and futures picks per day. Access to educational resources and email support is included in the price. The minimum contract duration is only 1 month, and subscribers can discontinue the service at any time.
5. Bullseye Trades
Bullseye Trades is an options trading alert service operated by the co-founder of Raging-Bull, Jeff Bishop. Jeff shares a new trade idea every Monday with Bullseye subscribers, 52 times per year. Each trade alert comes with detailed analysis, options contract details and trade management insights for the profit target and stop-loss level.
In addition, subscribers have access to the Raging Bull dashboard with a comprehensive stock options trading video library, which covers the basics of options trading but also trading strategies in 20 lessons.
Jeff uses the strategies he teaches as the baseline for the weekly options trade alerts. Besides the detailed trade alerts, a weekly video with a trade alert and market recap gets posted within the dashboard.
Costs
The Bullsey Trades webesite does not show the pricing details at the moment.
Bottom Line
The best human-based options trading alerts come from Option Strategies Insider, while InsiderFinance is a great choice with options trade alerts triggered by options flow and dark pool analysis. MarketChameleon is the perfect all-in-one tool.
Remember, the internet is full of success stories from people making a lot of money day trading options with gains of 1,000% and more. It looks easy, but options trading is more complicated than it appears at first. Options trading courses help beginners to understand options basics like how to read an options chain and how to sell weekly put options for income.
At the same time, trading alert services combine the theory of options trading with trading signals based on that knowledge and experience. Still, the world of options trading alert services and education services is complex, and it takes time to find the best one that suits your needs perfectly.
Your experience level, budget, and expectations make a big difference. Therefore, a well-structured plan is needed to calculate the total expenses and find the best from all available options trading services.
Comparison – Monthly vs. Quarterly vs. Yearly Subscriptions
| Options Trading Services | Month | Quarter | Year |
|---|---|---|---|
| Option Strategies Insider | $134 – $167 | ✘ | $1,336 – $1,670 |
| Insider Finance | $75 | $195 | $660 |
| Market Chameleon | $69 | ✘ | ✘ |
| Mindful Trader | $47 | ✘ | ✘ |
| Bullseye Trades | n.a. | n.a. | n.a. |
Options trading alert services are best if the alerts can be tracked backwards. And this is exactly what systematic tools like InsiderFinance and Marke Chameleon do. Instead of manuall trading signals, you get a list of options contracts that meet the strategy criteria. You can quickly check, how effective the scans have been and then decide if you want to use this signals.
If you are more looking for a trading course, please consider my article https://daytradingz.com/trading-courses/
FAQs
What Is an Options Trading Alert Service?
Beginners and experienced traders use options trading alert services to make trading decisions with less market analysis work. Trading alert services notify subscribers when experts identify a new trade idea.
Those trade alerts typically include the symbol of the underlying asset, entry price, stop loss level and additional background information for the trade. In addition, when options contracts are traded, the expiry date and strike price are typically provided for more clarity.
Still, trading alert services differ regarding analysis methodology, trade alert frequency, historical trade transparency and pricing. In addition, some trading services have an options trading course, or at least basic options trading education included.
Who Are Option Alert Services Good For?
Yes, option alerts are suitable for day traders and swing traders. Options can be used to hedge existing positions and traded solely. Strike prices, expiring data and volatility should be monitored closely before trading. Options alerts from a trading service should be traded within a simulator before investing money.
What Is the Best Options Trading Advisory Service?
The best option advisory service is the one that suits your needs the best. For example, a options picking service is excellent for investors who don’t have the time for extensive analysis. In contrast, options screeners are perfect for independently operating data-driven investors. And if you prefer to trade the stock market, consider stock market guides over options trading. Alternatively combine it by trading stock options.
What Is Better, Using Trade Alerts From Options Alert Services or From Options Scanners?
Options trade alert services operated by a professional trading analyst are beneficial for beginner traders. Often, those services have great educational resources. Advanced traders who know exactly what to look for consider using options scanners to find the best possible trade entries based on their criteria. The scanners provide real time alerts and trading ideas with details like the expiration date of the options contract, current options price, strike prices, etc. Both sources can help to find profitable trades.
Alexander Voigt • Senior Editor & Founder of DAYTRADINGz
Alexander is a day trader and investor with over 20 years of experience analyzing and trading the financial markets. He wrote for Benzinga and Equities.com and has been quoted on leading financial websites such as Business Insider, Investors.com and Forbes.