Looking for winning and profitable options trading ideas every day? Click here to apply for a membership with Options Trading Club!
It’s a simple answer: A resounding yes. Option Alpha is a fantastic trading platform that provides options traders with a set of simple yet powerful trading tools to make their trading journeys much smoother. Run by Kirk du Plessis, a former M&A investment banker, and REIT analyst, it empowers traders with its excellent platform. If you are an options trader, you can research, backtest strategies and set up automatic trades.
Option Alpha is also an excellent content repository, most of which is free of charge. Besides, there are over 15,000 different kinds of active bots running on its platform, and it has over 860 different bot templates. These bots monitor over 24,000 active, open positions. Plessis is the primary instructor and shares his options trades regularly with a community of over 47,435 traders. Option Alpha’s winning rate is 70%, and it is highly transparent about its trades.
Option Alpha Review: Is it a Worthwhile Platform For Traders in 2022
- Best Aspects of Option Alpha
- Membership Plans
- How can traders benefit from Option Alpha?
- Overall Performance Review
Best Aspects of Option Alpha
Option Alpha provides a set of excellent features. Some of them are:
1. Amazing Bots
The bots are the best part of Option Alpha. Based on SmartPricing technology, bots use timed intervals and dynamically adjust pricing to maximize the trader’s gains. Essentially, these bots contain rules that help traders automate their trading strategies. Traders can instantly test the effectiveness of their actions because these bots execute the market much faster under market conditions. The best part of the bots is that they don’t require coding knowledge, and users can even create their bots.
2. Partners with Top Brokers
Option Alpha has partnership agreements with some of the industry’s most prominent online brokers for delivering automated trading results to its users. The list is incomplete (yet), but new names are getting added daily. It has partnered with Ameritrade, and agreements with Tradestation and Tradier are expected to follow soon. Users also have the power to request an integration with options brokers like Tastyworks, Interactive Brokers, and Robinhood.
3. Automated Trading
Option Alpha has a set of templates that helps users to trade in an automated fashion. There are over 850 templates covering strategies regarding Stocks and options, Bullish, bearish or neutral plans, Hedging, Statistical or technical analysis, Trend or momentum, etc.
4. Backtesting Facility
Backtesting is a tool used to assess the performance of the strategies decided by options traders based on the market’s past performance. Traders using this method can test their strategy before making their actual trades. This tool helps in several ways, offering to perform tests regarding allocation optimization, multiple testing durations, adjustment of trading frequency, assessment of performance ratios, win/loss metrics, and comparison between numerous scenarios.
5. Enhances Knowledge and Promotes Learning
Any trader who becomes a part of this platform gets to learn from the experiences of an active community of options traders. Moreover, they can also track their favorite stocks and ETFs and scan through the specially curated watchlists to scan various market movements concerning momentum, volatility, earnings, etc. Further, using Option Alpha University, users can learn trading mechanisms from the self-paced guided trading courses and the handbook, which is nothing less than a digital Wikipedia.
The platform has different membership plans, and traders who want to learn how to trade can avail themselves of any of them per their preference.
1. Free Membership
The free membership of this platform is much better than most other trading platforms in the market. It covers many things starting from Educational Video Courses, PDF Guides and Checklists, Live Trade Example Videos, Podcasts, Video Tutorial Libraries, and many more.
2. Pro Membership
By paying $99 per month or $990 yearly, you can also avail yourself of additional features like Daily Option Trades Alerts, Nightly Trade Review Videos, Access to Current Portfolio Overview, or Forum access, including all the things that are provided in the free membership.
3. Elite Membership
Anyone who takes the Elite membership will also access facilities like Weekly Strategy Calls, Monthly Live Q&A Calls, Small Group Coaching, Recordings, Software Discounts, and Forum Access in addition to the provided ones in the Pro Membership. You need to pay $299 a month to avail yourself of this service.
Besides these three membership plans, traders can buy other tools from this platform at $497. Such tools include Watch List Scanning & Filtering Software, Weekly Earnings Calendar, Options Strategy Backtesting Software, and Trade Optimization Software. Two research reports: One on technical analysis and one on options trading strategies, can also be purchased by paying $197 and $397, respectively.
How can traders benefit from Option Alpha?
Option Alpha can be highly beneficial to anyone who trades options. It assists traders in backtesting and automating their trading strategies. There is already an extensive library of bot templates available on this platform, with the opportunity to customize a bot according to one’s specific requirements. Option Alpha, for instance, can provide information on Earnings IV Crush, Range Breakouts, Pre-Earnings Run, and many other topics to the options enthusiasts while they conduct their trades.
Option Alpha is easy to use as its interface is quite user-friendly. Traders can communicate with the bots by using simple language and telling them what to look for or how to enter and exit positions. Since bots can make data-driven decisions in milliseconds, not only are the chances of human error reduced, but traders can also get the opportunity to focus their time and energy on what is more critical, improving their trades. This improves the chances of profitability.
Overall Performance Review
Option Alpha can be an excellent platform for anyone looking for backtesting tools or strategy automation. It assists traders in reducing instances of emotional, biased, or reactionary trading decisions. However, most of the strategies presented here are geared toward ETFs, which are said to have lower income-generating potential than stocks. As a result, those who follow its strategies may earn far less than those who trade in stocks. Beginners can go with the free membership and learn from the library of materials provided rather than starting with the Pro Membership and blindly following the trade alerts.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.