Best Options Trading Alert Service
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 services help you get into options trading fast, and option trading alert services go even a step further by coming up with trade ideas and recommendations.
What is the best options trading service to consider to ensure a positive experience trading options? This guide describes five credible options trading services, explains the differences, reveals the costs and best offers.
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Options Trading Service List
- Benzinga Pro: Best All-In-One Solution
- Motley Fool Options: Best for Long-Term Trading
- Mindful Trader: Best for Swing Trading
- Optionsonar: Best Order Flow Capabilities
- Market Chameleon: Best for Options Data Analysis
Benzinga Pro: Best All-In-One Solution
Benzinga Pro is an excellent solution for traders and investors trading stocks and options. A Benzinga Pro subscription includes access to alerts, community chat room, stock screeners, options scanners, newsfeed, squawk radio, and trading signals.
Benzinga Pro’s Unusual Options Activity feature alerts you about large block trades and sweep trades of options contracts. Filters like the price/earnings ratio, market cap, dividend yield, various industries and sectors and price change bands can be used. You get notified about trade alerts via audio or desktop notifications. In addition, the Benzinga Pro Unusual Options Calendar provides access to historical options data for further analysis.
The options scanner is only one feature, and Beninga Pro can also be used for extensive charting, as a market news source, or as a stock screener.
In addition, Benzinga now also offers a Benzinga Options Mentorship with 6 options trades per month, exclusive webinars, and daily trading mentorship by Nic Chahine. The inner-circle chat room, a regular market overview and full Benzinga Pro access are also available for mentorship subscribers.
Combining a high-end analysis platform and the mentorship program makes Benzinga the best all-in-one solution for options traders in this list of the best options trading alert services.
The Benzinga Options Membership includes full access to Benzinga Pro and costs $347 per month before discounts. A 70% discount is available for the quarterly and annual plan and reduces the average price per month to $86.7.
Motley Fool Options: Best Long-Term Service
Motley Fool Options is the best options trading alert service for investors who want to focus on options picks from a team of research experts and market analysts. Motley Fool’s main products are the Stock Advisor and Rule Breakers newsletters. In 2009, the Motley Fool Options service was added to the Motley Fool product portfolio. It is also one of the most successful options trading alert services since over 84% of options alerts closed for a profit across a decade with thousands of members.
The team of analysts focuses on finding the best stocks with strong fundamentals at a reasonable valuation. The options team then defines the best possible strategy for the specific trade for a maximum return on investment. Each pick has a particular investment thesis, timeframe and desired outcome.
The Motley Fool options trading alert service notifies subscribers each month via email about new trade alerts. The email alert includes the trade guidance with trade details, the income strategies used, community access and options education courses to learn options strategies efficiently.
Members also get access to options education courses. This includes access to beginners courses about conservative options trading strategies like buying calls, buying puts, writing covered calls, and expert guides about writing covered strangles and diagonal calls.
The costs for Motley Fool Options are on the higher end. The one-year access costs $999, and monthly subscriptions are not available. However, there is a 30-day satisfaction guarantee offered by Motley Fool.
Best Offer: Click here: $100 Motley Fool Options discount
Mindful Trader: Best for Swing Trading
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 insights into the exact trading methodology used. Subscribers gain access to multiple explainer videos covering options trading strategies and trading system development insights.
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.
Optionsonar: Best Order Flow Capabilities
Optionsonar is different from a traditional options advisory service. Optionsonar is an options canner 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 often indicates that big players in the market know about major news before they are announced, and Optionsonar helps subscribers to identify such trading opportunities.
Optionsonar 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. In the first step, you define the scanner criteria, and as a result, you will automatically receive the option trade alerts. Stock options are analyzed for potential bullish and bearish trades. Once your scanner criteria are met, you get an email or SMS alert as soon as the trade is detected. You can also enable web-push alerts visible on your Chrome and Firefox browser.
Subscribers can also define a watchlist of their favorite stocks and set various filters to match the alerts with their options trading style. A sweep scanner and dark pool prints analysis is also included, and the analysis and chart functionality makes the offer complete.
The Optionsonar paid plans begin at $35 per month with access to the Unusual Activity Scanner. In contrast, access to the Multiple Option Scanners feature costs $75 per month and includes the web-browser push notifications. The all-in-one Multiple Option Scanners + Alerts plan costs $109 per month and is the highest payment tier.
The monthly subscriptions can be canceled at any time, and you can switch between plans monthly. In addition, a 30% Off discount is available for annually paid plans.
Best Offer: Click here to test Optionsonar for free.
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.
Best Options Trading Alert Service Conclusion
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.
|Options Trading Services||Monthly Subscription||Annual Subscription|
|Motley Fool Options||✘||$899|
How to become an options trader?
As an options trader, you need to use options education services to improve your skills to ensure a positive experience trading options. Learn what calls and puts are. Understand the role of the options chain, the importance of greeks and time decay. There are plenty of trading opportunities out there, and they will always be there. Before you start options trading, you need to define if you want to follow options analysis services to use their scanners for your own trading ideas or if you want to go with the best options trading advisory service by getting trade recommendations directly. In the first 6 months, you should only trade options in a trading simulator or paper trading account.
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 and gurus come up with a new trade idea. Those trade alerts typically include the stock symbol, entry price, stop loss level and additional background information for the trade. Alert services differ in terms of analysis methodology, trade alert frequency, historical trade transparency and pricing. Some trading options, some trade stocks and others trade futures contracts. Some alerts services have an options trading course, or at least basic options trading education included.
What is the best options trading advisory service?
The best option alert 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 a perfect tool for independently operating data-driven investors.
Who are the best options traders?
The best options traders are well educated, have strong analysis skills, trade their plan. 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.
Are option alerts good?
Yes, option alerts are suitable for day traders and swing traders. Options can be used to hedge existing positions and can also be traded solely. Strike prices, expiring data and volatility should be monitored closely before making a trade. Options alerts from a trading service should be traded within a simulator before investing money.