Market Chameleon Review 2024: Pros, Cons and How It Compares

Market Chameleon is a powerful stock and options research platform for investors and traders. The platform comes with various scanners, reports and tools. A 7-day free trial is available on all premium plans.

This Market Chameleon review explains the main features like the unusual options activity scanner and provides insights into the functionalities and subscription plans.

Market Chameleon Special Offer: Click Here To Start The Market Chameleon Free Trial

About Market Chameleon

Market Chameleon

Market Chameleon is a web-based research platform for U.S.-listed stocks, ETFs and options. Investors and traders can use the multitude of features and functionalities to analyze the market, conclude trading strategies and download comprehensive data sets.

Features

Market Chameleon’s exceptional strength is the extensive data pool, including historical data, current data and forward-looking data for stocks and options. The main navigation within the Market Chameleon member dashboard focuses on:

  • Stocks
  • Options
  • Screeners
  • Earnings
  • Watchlist
  • News

While other Market Chameleon reviews only scratch the surface, I’ll take you by the hands and guide you through the full platform with all noteworthy features. So is Market Chameleon worth it? Let’s find it out!

Stocks

The stock analysis features include various reports, scanners, price action lists and more. The following part of the Market Chameleon review focuses on the specific functionalities and provides insights into each feature.

Market Chameleon

Premarket Trading

The Market Chameleon stock premarket trading feature lists stocks that actively trade before market open. Users can filter the list by criteria like sector, market cap, premarket volume, news- or earnings-related movement, position in 52-week price range etc. The results can be sorted, and a click on the stock symbol opens a detailed view with insights to stunning data like on-balance intraday volume, number of trades per minute, premarket volume at VWAP, and more.

Market Chameleon premarket trading stocks

Something that makes the Market Chameleon premarket report unique is the Gap Up and Gap Down historical view. It lists the historical price gaps with the date, catalyst (news, earnings, press releases etc.) with the opening gap, move from the open, and performance of the days after the gap occurrence, etc. This is a unique feature and helps traders understand the typical market reaction to the price gap in a particular stock.

After Hours Trading

The Market Chameleon stock after hours trading report has similarities to the premarket trading report. Here you find the most actively traded gainers and decliners with various filter options like market cap and after hours trading volume and news. You can also use the after hours screener with even more filters and sorting options.

Market Movers

The market movers trading activity view allows you to visualize stocks with high trading activity during the regular trading hours. Various filters like relative volume, price position, and more can be used.

52 Week Highs and Lows

The 52-week highs and lows report visualizes the new 52 week highs and lows.

Stock Order Imbalance

Stock order imbalances greater than 50,000 shares are visualized in this report. This report helps to spot portfolio changes from institutions and exchange traded funds. In addition, the data helps to gain insights into longer-term in- and outflows of capital. The result type is categorized by Sell On Close and Buy On Close. While Buy On Close orders is typically reflect continued growing exposure due to more investment activities in a bull market, a steady outflow via Sell On Close orders indicates that institutions might expect a temporary bear market.

Users can either use the overview with the strongest stock order imbalances or scan specifically for certain stock symbols. The results can be sorted by date, type, price, volume and notional amount. Users can also choose a specific historical date to show order imbalances for further research.

Unusual Stock Volume

Market Chameleon algorithms calculate the volume relative to the 90-day average. A relative volume of 10, for example, means that the current volume is 10 times higher than the 90-day average of that specific stock.

Market Chameleon unusual stock volume

Morning Report

The market report indicates the major market news events, new stock listings and new option listings with information about the date, symbol, name and exchange.

Company Events

Company activities and upcoming public events like conferences and meetings can be a market-moving catalyst. Market Chameleon lists the events in a calendar view with the stock symbol, type of event, date and options information. Users can also go back and forth and select specific dates of interest.

Market Action Lists

The following market action lists are available:

  • Top gainers on high volume
  • Top losers on high volume
  • Outperforming stocks
  • Gap up and go
  • Gap down and go

Dividend Reports

A detailed dividend calendar, closed end funds dividend yields report, master limited partnership dividend report and real estate investment trust dividend report is available within the Market Chameleon platform. Each report includes insights into the dividend yield, payment frequency, dividend growth rates, the payment and ex-date. Users can also apply various filters like date type, stock type, guidance note and more. It is also possible to select a specific date and to download the data as a CSV file.

In addition, Market Chameleon also offers dividend announcements, dividend increase reports, future ex-dates, dividend guidance insights and dividend comparisons vs. peer groups.

More Reports

Various additional reports are available:

  • Order Imbalance: The market-on-close stock order imbalance report lists the imbalances of all stocks by day with the 20-day average notional buy imbalance and sell imbalance. It can be visualized by the last 20 days, one year and complete history.
  • New Listings: The new listings report shows IPOs of the last year with insights to the ticker symbol, listing date, exchange, price and various other details.
  • Closed End Funds: The peer analysis page allows to evaluate how specific market indicators compare to historical and relative market values visualized with a graph.
  • Splits: This feature can visualize historically and announced stock splits in a table view. Users can also download the data.

The threshold list, performance by industry and fast cash burn report, the PDUFA Dates and Mergers and Acquisitions are also available.

Seasonality Screener

The Market Chameleon seasonality screener shows any given stock’s average return per month. The data helps to understand how the price per share performed at any given month. Various filters are available, but unfortunately, it is not possible to export the exact values of any given year in history. So instead, users see only the average of the full history.

Market Chameleon market seasonality screener

Event Driven Historical Insights

How did stocks react to market events like FOMC meetings, GDP reports and housing figures in the past? This screener answers this question.

In addition, the big money stock flow and insider trades screener can be used to find unusual trades.

Historical Price Return Distribution Report

Does a specific stock or index tend to close with a positive return, and if so, how is the typical distribution curve? What is the ratio of positive to negative occurrences, what is the average up and average down move of a stock? Things like that can be answered by using this Market Chameleon report. Simply enter an ETF or stock symbol, select the number of years for analysis and finally click on Get Results to immediately see the results.

Market Chameleon historical price distribution return report

Options

Market Chameleon provides extensive stock options data and is one of the best options strategy generation platforms for investors to define their strategies and trading rules based on comprehensive data. The options section is one of the core Market Chameleon tools.

Market Chameleon options

Market Chameleon Unusual Options Volume Screen

Market Chameleon offers an unusual options activity scanner with a high daily option trading volumes report. The report lists equities whose stock options see a significant volume spike relative to the 90-day average. It is possible to use various filters like earnings dates, equities type, number of trades, IV % rank, and more to reduce the number of results. It is also possible to go back in time for 10 trading days.

Market Chameleon unusual options screener

The result can be displayed in the Main view or the Volume By Moneyness view. In addition, option volume statistics, the total trade volume of calls and puts, catalyst events and volatility insights are provided.

Implied Volatility Rankings Report

The results within the option implied volatility rankings report are organized by IV percentile rank, and various filters can be used to define the report. In addition, insights into volume, open interest, volatility and events like earnings are listed in the results table.

Also, reports like Option Volumes, Snapshot, Broad View, Put Protection and Buy Writes Search can be used by all subscribers. However, there are some additional features available to subscribers.

Implied Volatility Movers by Options Expiration

This report can be used to find the implied volatility gainers and decliners for the current day. The results contain stock info, option expiration insights and option implied move vs historical move figures. The results can be filtered by asset type, stock price direction and various ratios.

Options Order Flow Sentiment Tools

The order flow sentiment screener visualizes today’s option flow sentiment, the sentiment relative to the 30-day average and top signals in easy-to-read graphs and tables. In addition, the stock with top bullish and bearish sentiment based on options order flow can be pulled as a table with various options to sort the result.

Market Chameleon options order flow sentiment

Open Interest Analysis Dashboard

The open interest analysis dashboard provides a glance at open interest indicators, OI-gainers and decliners by stock and contract or % rank. The results can be shown by symbol, options expiration, contract or 5-day change.

Biotech Stock Catalyst Report for Options Traders

The newly introduced report lists key events like healthcare conferences, Prescription Drug User Fee Act announcements, and clinical result events besides relevant healthcare stocks, options insights and notes.

Options Trader Tools

Market Chameleon also provides 3 options tools:

  • Straddle and Wing Backtest
  • Volatility Compare
  • Straddle Compare

Those tools allow options traders to analyze options in detail.

Screeners

Various stock and options screeners are available for Market Chameleon subscribers. The stock screener has similarities to other stock screeners like Finviz, where users can create screeners based on fundamental data details like market cap, dividend yield, volatility, share float or valuation aspects like P/E ratio, Ebitda Margin, ROA. In addition, price, volume, and technical filters like historical performance, relative volume, distance from various moving averages etc., can be used.

Market Chameleon stock options screener

The results are visualized in a table view with the flexibility to use different columns. In addition, all data can be downloaded for later reference or to continue using it in tools like Google Sheets or Microsoft Excel.

In addition, an options screener with expiration dates of stock options for more than 4,000 stocks is available for further analysis. Finally, an option block trades screener can be utilized to find large block options trades. In contrast, the ETF screener is specifically designed to list ETF-relevant options data for investors focusing on exchange traded funds.

Options Screeners for Premium Users

A paying Market Chameleon subscriber is considered a premium user and unlocks an extensive arsenal of options screeners to analyze for:

  • Vertical Spreads
  • Single-Leg Strategies
  • Butterfly
  • Condor
  • Volatility
  • Conversion and Reversals
Market Chameleon covered call screener

Each option strategy screeners can be used to find the best possible option contracts for the specific options strategy. The results include insights into the theoretical value, % win rate, strategy details and risk profile.

Those screeners are clearly defined for options traders with the specific demand to scan for those criteria. The provided data is so extensive that options trading beginners will struggle at first with the immense amount of opportunities.

Earnings

The earnings section includes one free tool and 6 additional earnings-related features for Market Chameleon subscribers. The free feature is the earnings calendar. Users can select a date and show all earnings-related data with details about the stock symbol, date, time (BMO/AMC), conference all insights, previous earnings moves, and expected % price reactions. This tool is pretty cool for being entirely free.

That’s because it lists the historical earnings moves of the past quarters. In addition, it lists options belonging to companies with earnings announcements along with the historical open range, options strategy type, historical backtest results, theoretical value and edge.

Such an earnings options strategy screener is helpful to understand what kind of strategy worked well in the past and helps to understand the typical stock price behavior better. However, past results are never a guarantee for future success. Therefore it is crucial to practice and test on paper or with a simulator first, especially regarding risky options trading strategies.

In addition to the free tools, a paid subscription unlocks more earnings features:

  • Future Dates: Incorporates all known future earnings dates by stock symbol with insights to time and date and previous earnings with SEC filings.
  • Upcoming Earnings Analysis: The report includes overvalued and undervalued implied earnings movers relative to the past four quarters historical average.
  • Earnings Stock Pattern Screener: This helpful pattern screener lists the performance-based per pattern and stock based on historical data. For example, users can evaluate a specific stock performance 3 days before earnings, on the earnings date, or the week after the earnings announcement to conclude potential price movements and trading ideas after the following announcement.
  • Earnings Options Strategy Screener: The earnings options strategy screener is a backtest screener for options similar to the stock pattern screener mentioned above. Instead of the time before or after an earnings announcement, a specific options strategy like Long ATM Call, Debit Call Spread, or Call Buy Write is used to calculate historical efficiency.
  • Today’s Opportunities: The earnings trade opportunities screen helps identify profitable results during earnings season for specific strategy types like Diagonal Call Spreads, Call Condor Spread, Iron Condor etc.
  • Company Earnings Guidance: The company-issued earnings outlook with links to the press releases, insights to the issued guidance and info about the prior year statistics are available here.

Watchlist

Market Chameleon users can create watch lists with their favorite symbols. That allows to quickly see company fundamentals related to the specific stocks within a watch list. In addition, it is possible to use watch lists as a filter in nearly all Market Chameleon features to create reports, screeners, or trading ideas specifically for the watch lists.

News

The news section lists the latest headlines from sources like Business Wire, Globe Newswire and PRWeb. A click on the news headline opens the detailed press release.

Market Chameleon Pricing

Market Chameleon offers 5 subscription tiers.

  • Registered free service
  • Stock trader
  • Options trader
  • Earnings trader
  • Total access
Market Chameleon costs

The Market Chameleon Total Access plan costs $99 per month. Subscribers gain access to each functionality and feature. Alternatively, users can select the Stock Trader subscription for $39/month, Options trader for $69/month, or Earnings trader for $79/month.

All paid subscriptions come with a 7-day free trial and full access to the selected paid plan. In addition, it’s also possible to register for the free services for essential insights into some of the basic features.

Market Chameleon is transparent about the subscription terms, explains how to cancel a subscription, and provides support via email, help guide, webinars and phone.

Market Chameleon Review Summary

Market Chameleon is a great trading tool for stock and options traders who appreciate the value of comprehensive data and analysis capabilities. For example, the comprehensive Market Chameleon database goes back to 2014 for options prices, while stock data history goes back to 1998. In addition, nearly all data from screeners and reports can be exported as CSV files for further analysis in tools like Microsoft Excel or Google Sheets.

The Market Chameleon review also shows some limitations of the tool. For example, all data is 15 minutes delayed, and real-time data is not available. That’s okay for investors and swing traders, but day traders should simply be aware of that fact.

The total access subscription provides the best value for the price and begins with a 7-day free trial and access to all Market Chameleon’s features. The seven days can be used to test the tool intensively.

Pros

  • Detailed reports and market screeners
  • Comprehensive historical stock market data, options contracts details
  • Insights to historical performance
  • Multiple watchlists can be created
  • Extensive options analysis capabilities

Cons

  • Market data is delayed by 15 minutes

How to use Market Chameleon?

Market Chameleon is an Html-based trading tool. Subscribers can log in from any devices like trading computers or mobile devices to use it. The most convenient usage of Market Chameleon is possible with a browser on a PC like Safari, Chrome, Opera or Firefox.

How much does Market Chameleon cost?

Market Chameleon has multiple features for stock and option scans. New users can test all features for one week for free or use some selected functionalities forever with the free account. The more advanced features require a subscription ranging from $39-$99 per month. The review explains in detail how the plans compare.

Market Chameleon Alternatives

InsiderFinance is a good alternative to Market Chameleon. The tool has powerful options screener capabilities and is specifically beneficial to options traders.

Alexander Voigt, CEO
Article by
Alexander Voigt is the founder of DayTradingZ, was a regular contributor to Benzinga and has been featured and quoted on leading financial websites such as Investors.com, Capital.com, Business Insider and Forbes.
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