A trader can do a lot to improve his or her returns, but gaining the right knowledge and skills takes time. Many options trading services make it easier to find the best trades by providing alerts and recommendations. While these services may not guarantee profits, following their suggestions can help a new investor find his or her footing in the market.
While some options alert services only send trading signals, others provide full-fledged investment platforms with extensive education and trading tools. The top options trading services are easy to use, offer competitive commissions and allow users to create advanced strategies with their own money. The top options trading services also acknowledge that trading is inherently risky and provide guidance on position sizing, stop-loss levels and risk mitigation strategies.
Optionsonar, for example, provides a robust alert service best options trading service reviews that includes an order flow screener with easy-to-understand graphical tools and adjustable settings. The service also has a watchlist feature and offers alerts via email, text and browser push notifications. Optionsonar’s premium subscription costs start at $35 per month.
Another top option trading service is Mindful Trader, which offers timely options trading alerts to subscribers. The company focuses on swing trading, which falls between day trading and long-term buy-and-hold strategies. The service’s founder, Eric Ferguson, spent more than $200,000 and four years creating the methods that are used in Mindful Trader, and his trading account has outperformed the S&P 500.
Sky View Trading is another highly recommended options trading alert service, offering a robust education and video content to help traders learn. The site offers an extensive options trading toolset, including an options-focused education and video database and a live chat room with options educators. Its options-focused education and videos, along with its incredibly competitive commissions and excellent customer service, make it an ideal choice for self-directed options traders.
Other popular options trading services include tastytrade, which offers competitive options trading commissions and a fully loaded platform with advanced trading tools. Its options-focused education and live video content are also well done, and it has a large community of investors to discuss trading ideas with. Its platform rivals TD Ameritrade’s thinkorswim in terms of functionality and ease-of-use, but is designed for active, self-directed retail investors.