3 Best Options Trading Alert Services of 2024

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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 courses 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 service

Best Options Trading Alert Services

Best Options Trading Service Reviews

1. Bullseye Trades

Bullseye Trades Jeff Bishop

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 options alert service 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 retail price for the Bullseye Trades membership is $97 per quarter.

51.5% Off ($47 per quarter)

2. InsiderFinance

Insider Finance

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.

25% Off + Additional 20% Off with Promo Code DAYTRADINGZ20

3. Market Chameleon

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. You can also subscribe solely to the Options Trader module for $69 per month.

7 Days Free Trial

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. 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
Bullseye Trades $47 $147
Insider Finance $75 $195 $660
Market Chameleon $69

Guide

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.

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. Then consider using an options alert service to get trade ideas. Make your first trades using a paper trading platform for options.

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 trading alert 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.

Which platform is best for options trading?

No matter if you are a professional trading analyst or retail trader – at some point, you want to use a platform to place your options trades. Beginner traders use a platform where trade entry and trade management are easy to do, for example, with eTrade.

Experienced traders who want to automate or integrate additional risk management parameters consider platforms with API capabilities like Interactive Brokers.

A trading analyst who places 1,000 orders or more per month considers a platform that executes the orders fast at a reasonable price. Beginner traders who start with swing trading options focus on platforms with a beginner-friendly user interface and UX.

What is better – using trade alerts from options alert services or from options scanners?

Options 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.