6 Best Options Trading Alert Services of 2023
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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 complex than it first appears.
Options trading services help you get into options trading fast, and options trading alert services go even a step further by coming up with trade ideas, options picks and specific recommendations.
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.
Best Options Trading Alert Services
- Bullseye Trades: Best Weekly Options Trading Service
- Lightning Alerts: Best Options Trading Alert Service
- Market Navigator: Best for Daily SPY Options Trading
- InsiderFinance: Best Option Flow Service and Dark Pool Alerts
- LottoX: Best for Short Time to Expiration Options
Best Options Trading Service Reviews
1. Bullseye Trades – Best Weekly Options Trading Service
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.
The retail price for the Bullseye Trades membership is $399 per year.
Best Offer: Here, you can join Bullseye Trades for $47 per quarter (51% Off) or $147 per year (63% Off) (30 days money back guarantee included).
See Also: Bullseye Trades Review
2. Lightning Alerts – Best Options Trading Alert Service
Lighning Alerts by Jason Bond is the best options trading alert service. Jason is well-known for his penny stock trading and continuously listens to subscribers. Due to high demand, he started the Lightning Alerts service. A nightly watchlist with trade ideas, real-time trade alerts and access to a chat room with charts and portfolio streaming is what you get as a Lightning Alerts subscriber.
The service is helpful for investors who struggle to scan for trade opportunities on their own every day. The trade alert service notifies subscribers before the market open about the trade ideas with details about the trade, including the options contract specifications.
Lightning Alerts’ focus is the trade alert component, and subscribers receive live trade alerts using the app and within the member dashboard. In addition, access to Jasons’ digital vault of trading secrets with how-to guides and videos is included in the price.
The Lightning Alerts membership costs $560 per year.
Best Offer: Here, the subscription to Lightning Alerts costs $297 yearly, or $47 per month. (47% off compared to the regular annual price).
See Also: Raging Bull Trading Reviews
3. Market Navigator – Best for Daily SPY Options Trading
Market Navigator is an options trading alert service led by Jeff Williams, an options trader with over 20 years of experience in trading. The Market Navigator concept differs from the other services in this curated list.
Instead of trading stock options contracts on multiple stock tickers, Jeff trades only one ticker – the SPY. So while the options contract changes in terms of strike price and expiration date, the ticker of the underlying asset always remains the same.
Beginners often consider the consistency of staying with one ticker helpful. It helps to understand the broad market and its implications better.
Jeff’s service has three main components.
- The trading plan, shared daily at 9:00 AM EST, comes in 30 minutes before the market opens.
- In addition, Jeff starts streaming his screen every trading day at 9:00 AM.
- Finally, the trading chat room can be used by subscribers to interact or ask questions.
There is also a solution if someone misses a trading or educational session since the video vault contains many helpful video recordings.
The retail price of the service is $1,499 per year.
Best Offer: The current promotion is $499 per year (you save $1,000 annually).
4. InsiderFinance – Best Option Flow and Dark Pool Alerts
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.
Each InsiderFinance plan provides access to all features. There are three paid plans available. A subscription costs $75 paid monthly, $195 paid quarterly (equals $65 per month), or $660 paid yearly (equals $55 per month). The link below reduces the price for all subscriptions by 20%.
Best Offer: 20% InsiderFinance Discount on all plans (use the promo code DAYTRADINGZ20 during checkout in combination with the link).
See Also: Insider Finance Review
5. Market Chameleon – Best for Options Data Analysis
Market Chameleon is another great source for option trading ideas. 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.
The all-in-one research platform Market Chameleon costs $99 per month. This unlocks the modules Stock Trader, Options Trader, and Earnings Trader. You can also subscribe solely to the Options Trader module for $69 per month.
See Also: Market Chameleon Review
6. LottoX – Best for Short Time to Expiration Options
LottoX is what the name suggests and is entirely different from all other offers. Instead of swing trading options contracts during a day, over a couple of days or even weeks, LottoX holds highly volatile options for a very short time.
Trading Zero Days to Expiration Options contracts is the focus of the service, led by Ethan Harms. US-listed weekly options typically expire Fridays, and the newsletter, which goes out to subscribers every Thursday, only features options trading ideas with contracts that expire within the next 24 hours.
The win rate of those trades is relatively low, but if they work out in the right direction, the profits can be exceptionally high.
The best way to use the service is by getting started testing the waters of this high-risk strategy using an options paper trading account while subscribing for a short period. Those who feel comfortable with it after trying it can subscribe for a more extended period at any time.
The good news is that the current offer enables new users to join for $79 per quarter or $249 per year with the annual membership.
The service is currently unavailable
Best Options Trading Alert Service Conclusion
Jeff Bishop’s Bullseye Trades is the best options trading alert service because it combines weekly trade alerts with educational components for a reasonable price. The best systematic options trading alerts come from the InsiderFinance tool, with options trade alerts triggered by options flow and dark pool analysis.
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. The best 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, trade 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
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What is an options trading alert service?
Investors and traders use options trading alert services to make more profitable investment decisions with less analysis work. Trade 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, 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.
How to become an options trader?
As an options trader, you must use education services to improve your skills and ensure a positive trading experience. First, learn what calls and puts are. Understand the role of the options chain, the importance of Greeks and time decay.
Plenty of trading opportunities are out there and will always be there. However, before you start options trading, you need to decide if you want to follow options analysis services to use their scanners for your trading ideas or if you want to go with the best options trading advisory service to receive trade recommendations directly.
As a beginner, you should only trade options in a trading simulator or paper trading account in the first six months.
What defines a good option trader?
The best options traders are well-educated, have strong analysis skills, and trade their plans. A trading plan needs a well-defined options strategy and utilizes excellent tools. Finally, all trades are tracked, and a report is used to analyze the profits and losses to improve the trading strategy.
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.
See Also: 7 Best Options Screeners