Options trading is becoming more popular every day among investors. This is most likely because it requires less capital investment compared to stocks. As such, traders with smaller-size portfolios can trade options.
However, making money with options is hard for most investors. This is because it requires a good trading strategy, expertise, and time to master the art of trading.
Nonetheless, the best options trading alerts service makes it easier by providing you with trade recommendations.
But while these tools are not entirely free, they are quite powerful and can help you make more profitable trades. So, below is our in-depth review of some of the best-rated options alert services that are worth trying out.
Top Options Advisory & Alerts Service in 2023
With so many of these alert services available on the market, knowing which one is the best can be daunting. Besides, some options trading alerts services are not even experts in trading, while others don’t have your best interest at heart.
So, to help you find the right alert service, we have compiled a list of the top-rated services available. Check them out.
1. Motley Fool Options
The Motley Fool Options is an excellent alerts service for options investors looking to make the most out of the opportunities on the market.
Launched back in 2009, the platform is considered one of the most successful options trading alert services. This is because their options recommendations have recorded a profitability rate of 86% over a decade.
So, what makes it a good trading alerts service? Well, the Motley Fool Options have a team of experts that constantly scours the market for great options trades. And when it comes to their options picks, they only recommend companies with an attractive long-term holding.
In other words, the service only focuses on good companies. Therefore, as an investor, you won’t have to gamble on options whose fundamentals you don’t understand.
What’s more? When you subscribe to this service, you will receive two new stock picks every single month. These recommendations are sent via email. Along with the alerts, you will get a detailed explanation as to why those options trades were selected.
More so, you will be happy to know that the platform also offers educational materials. So, if you are new to trading options, you will find this tool useful.
Undoubtedly, the subscription costs for Motley Fool Options are on the higher end. This is because you will have to part with $999 per year. After all, the platform does not provide a monthly subscription plan.
The good news? Motley Fool has a 30-day satisfaction guarantee just in case you are not completely happy with their services. This means that you will have at least a month to try out their options trading alert tool.
2. Mindful Trader
Mindful Trader is yet another popular options trading alert service that is worth your money and time. The service founded by Erick Ferguson is designed to provide options picks based on scientific data and statistics.
While the service is relatively new as it was launched in 2020, the founder Erick has been trading stocks for many years. What’s more? The service uses Erick’s trading strategies which he has tested for a long time.
So, how does the service work? Well, Erick usually analyzes over 20 years of historical market performance statistics before making his recommendations. He then invests in every single option that he sends out as a trade alert. This helps his subscribers feel better about investing in the stocks.
Also worth mentioning is that options trading alerts are at the core of the service that Mindful Trader provides. And when you sign up, you can expect to receive 1 to 3 options picks a day via text and email.
Each trade alert is usually accompanied by details like entry price, profit target, the time limit on trade, and stop-loss. However, you may not always get recommendations every day since the trades have to meet certain parameters.
The Mindful Trader paid plans start at $47 per month with access to the options trading alerts and educational materials. After the first month, you can choose to renew the subscription or cancel at any time.
3. Benzinga Pro
Benzinga Pro is a subscription-based trading alerts service designed specifically for active traders. The service is run by Benzinga, one of the most respected financial news outlets in the industry.
Besides being a news-based platform, Benzinga Pro offers many features, including option scanners, community chat rooms, and stock screeners.
Also included are watchlists to help you monitor your trades and track stocks in your own portfolio. The best part is that you can create an unlimited number of watchlists. More so, you can set up custom email and sound alerts.
As if that’s not enough, the software offers the unusual options activity feature. This feature is designed to track any unusual activity in options trading. It works by alerting you of any large block trades that have been traded at or near the bid. As such, you will be able to know if someone is taking a big bullish or bearish bet.
The tool also permits you to filter the alerts by your earnings ratio, market cap, price change, dividend yield, and watchlists. You can also decide to receive these trade alerts through audio or desktop notifications.
The platform features three plans, including Basic, and Essential with the Basic plan going for $99 per month. Also included is the Benzinga Options Mentorship plan that is best suited for options traders. This plan costs $347 per month to access all its features.
4. Market Chameleon
Market Chameleon is another trading alert service that specializes in uncovering profitable options and stock trading opportunities. The software offers a suite of different products to meet the needs of various investors.
If you are more of an options trader, the service features several unique tools built to provide trade ideas with high yielding potential.
One of the tools the service provides for options traders is the unusual options volume scanner. This tool is built to automatically find stocks for which options are being traded at a higher rate.
Another interesting tool that Market Chameleon offers is stock and options screeners. This is a free tool and boasts dozens of filter parameters such as price change and moving averages. The screener tool also enables you to build personalized screens using any of the 18 options trading strategies.
Additionally, you will be happy to know that the platform allows you to set up as many watchlists as you want. These watchlists can be created for specific options contracts or at stocks with earnings on a specific day. The best part is that you can customize the email alerts. This way, you will receive a notification when a stock you are watching behaves in a certain way.
Market Chameleon is available in different plans to choose from. The Basic service level costs $39 per month. However, if you want access to the Options Trader service, it will cost you around $69 per month.
When it comes to options trading, being able to monitor and even track options activity is very critical. Optionsonar is a web-based service built to help investors monitor unusual options activity to give them an edge in the market.
Founded in 2017, Optionsonar is designed to help traders build better insight into options trading and discover trading opportunities. It does this by offering various unique features such as options for activity scanners.
The options activity scanners allow you to monitor options for the entire day while also providing a quick market overview. On top of that, the service includes scanners for monitoring any unusual activity among the options contracts.
Additionally, the platform offers scanners for new and opening positions, which can be easily filtered by puts and calls. On the flip side, though, you cannot customize the Optionsonar scanners.
Furthermore, this options trading alerts service supports alerts and watchlists. The alerts are customizable, and you can choose to receive them via text, push notifications, or email. Also, you can choose to apply specific or market-wide ETFs and stocks. The watchlists, on the other hand, function almost like the standard scanners.
Optionsonar offers 3 paid plans to its subscribers. Their basic plan features an unusual activity scanner and costs $35 per month. Next, they have the Advanced plan, which is $75 per month and boasts multiple option scanners.
Last but not least, there is the Professional plan platform featuring multiple option scanners + alerts. This plan goes for only $109 per month. However, if you choose to pay for an annual subscription plan, you can save up to 30%.
6. The Trading Analyst
The Trading Analyst is also considered to be one of the best options trading alerts services in the industry. The platform is run by a team of professional traders and veteran options traders who are passionate about trading in the stock market.
Tyler Corvin, the founder of this platform built it to help traders learn how to become profitable in any market condition. As such, it is designed to provide everything a trader needs to grow their portfolios all in one place.
But how does this trading alerts service work? Well, their approach to options trading is based on the swing trading method. This approach involves identifying trades with significant upcoming movements. While this method needs constant attention to the markets and patience, The Trading Analyst claims it works.
When it comes to their options trading alerts, you can expect to receive 2-5 trade alerts every week via text message. The alerts are usually real-time and are usually accompanied by clear signals as well as exact prices. Each trade is chosen to target 10% to 25% gains.
Since the alerts are real-time, you will receive a BUY alert signal once The Trading Analyst’s team enters a new position. Similarly, when their team exits a position, you will get a SELL alert notification.
Like most options trading alerts services in this review, The Trading Analyst also offers 3 subscription plans to choose from. This includes a monthly plan which is $147 only and offers features such as 2-5 trade alerts and all swing trades.
There is also an annual plan that costs $787. However, you need to have a minimum of $25,000 in your account to access this plan. Lastly, they have a quarterly plan going for $357 and include the same features available in the monthly plan.
Overall, options trading alerts services are not all the same. For instance, some offer more trade alerts than others. That said, these services come in handy for both beginner and experienced investors.
Sure, they may not offer a straight and narrow path to success. However, they can help you know when a profitable trading opportunity arises so you can take the necessary steps. After all, finding the right options picks and trade opportunities have never been easy.
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