Best Options Trading Platforms for 2020

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Cons What Is OptionsPlay?

  • Reviews of Trading Options For Income at Investimonials
  • And the loses would have been greater had I not gotten out of his most recent trades.
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  • Other Options Considerations The commission structure for options trades tends to be more complicated than its equivalent for stock trades.
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  • OptionsPlay Review - Do You NEED This Options Trading Tool?

Options trading what is it reviews automated nature of the platform is nice, as it highlights potential trade ideas and strategies to help traders zoom in on potential opportunities. OptionsPlay Cost OptionsPlay starts out with a one-month free trial.

OptionsPlay Features Trade Ideas OptionsPlay is built around surfacing potential options trades and offering suggestions for potential strategies.

Trade ideas populate each day automatically, and you can filter them according to whether they are bullish or bearishthe market cap of the underlying company, and the market sector. You can limit the trade ideas to only stocks picked up by multiple of the built-in scanners to look at only the most robust trading opportunities.

The best options trading platforms might give you an edge in the market

You can also see a pre-made technical chart for the stock, which includes CCI and Williams Percent Range and displays support and resistance levels. This is presumably calculated using some of the same indicators that are used to find trade ideas in the first place, along with trading range and historical volatility.

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That said, the strategies also prominently display the trade cost, potential return, the maximum amount at risk, and breakeven price. These let you adjust the target price of the stock, the date by which it will reach that price, and the future implied volatility.

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You can also modify the expected trading range of the stock price, and OptionsPlay will adjust its recommended strategies and scores accordingly. You can select from any of 35 strategies, which are categorized into bullish, options trading what is it reviews, neutral, and sharp-move menus.

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If you do choose a new strategy, OptionsPlay will automatically calculate a score and display data just as if it were a recommended strategy. To evaluate fully custom options strategies, you can enter in additional legs to a trade manually.

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OptionsPlay offers two recommended strategies — a covered call strategy for if you already own the underlying stock or a put strategy if you do not — and lets you easily view the risk, return, and breakeven price. Importantly, it also displays the probability that the option will expire worthless based on historical volatility. Customization And Layout OptionsPlay allows you to evaluate binguru trading custom options strategies.

The OptionsPlay web interface keeps everything on a single page.

3 Comments

It would be nice to have the option to show or hide panels as needed and to use extra screen real estate to compare more than three options strategies at a time. Unfortunately, it also takes some work to evaluate two custom options strategies side-by-side.

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However, OptionsPlay will offer instructions on how to enter single- and multi-leg trades into your broker to execute them appropriately. OptionsPlay Platform Differentiators OptionsPlay offers a relatively straightforward way to identify potential opportunities for options trades and then evaluate the strategies with the highest reward-to-risk ratios.

The best options brokers have a wealth of tools that help you manage risk

But, the fact that it automatically calculates the best options strategies based on probability of profit is a huge plus. In addition, the ability to evaluate fully custom strategies is an important feature of this platform. OptionsPlay is best suited for traders who are just getting into options trading.

The platform offers a helping hand for identifying trading opportunities and evaluating strategies. The tools are likely to be too restrictive for more advanced options traders.

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But, they are likely to be just right for stock traders who are comfortable with technical charting, price targets, and volatility and want to make the jump into options trading. If you prefer options alerts, you may prefer a service like Motley Fool Optionswhereas if you prefer a more advanced too, you may prefer OptionVue. Pros Automatically finds options trade ideas based on seven scans Options strategies suggested based on probability of profit Evaluate 35 built-in or fully customized options strategies Calculate risk, reward, and probability for income strategies Cons Can only compare three strategies at a time Expensive.