Before you make the plunge and sign up for a premium membership to get your options trading ideas, it’s important that you look for the best options alerts service that will suit you the best.
This goes beyond just win history, but involves a careful assessment of if the service will fit your trading style.
Let me start this off by reviewing some of the services currently available on the market 🤔
Once that’ s over with, I ‘ll provide some tips that you need to consider before signing up 🤫 & some general options trading tips.
(Of course, if you’d rather jump ahead to the steps, click here.)
So with that in mind, let’s get into this and start by reviewing some of these services.
Options Trading Service List
The Empirical Collective Options Trade Service
The Empirical Collective is our #1 choice when reviewing the best option alert services. We feel that they offer more value than any other alert service out there, as they not only give you alerts, but access to data and unique trade ideas that nobody else does.
And their membership cost is a fraction of what the competition charges.
As for their trading style, The Empirical Collective only buys options and their alerts are for swing trading options. This keeps things simple for members who want to follow their trade alerts.
As we briefly mentioned before, they also provide their users with different alternative sources of data. Like their social sentiment tracker, which scours different social forums in order to determine what stocks millions of retail traders think will go up or down.
A really unique service they offer is their tracking data on insider trading. This tracker records the buying & selling of stock of the employees of publicly traded companies (after all, if the employees are buying stock, that’s often seen as a bullish sign).
They also have a similar tracker where they monitor the stocks government employees have bought or sold within the last 45 days.
And their trading record looks great. You can see more information on their website here.
New: The Empirical Collective has recently released access to one of their social sentiment trackers that shows which stock WallStreetBets is currently bullish or bearish on (it updates every hour). You can check it out at WSBcheck.com.
When trading options, the majority of the people out there claim that you’ll make more money by selling options rather than buying them.
But Felix Frey of Options Geek claims that the top 1% of options traders buy options.
This swing trading service is based on Felix’s trading experience and there is a lot of time that is spent on educating new traders.
We looked, but couldn’t find a list of any current trades or what their win rate was when we visited their website.
You can get more information on their website here.
Options Trading Club
The Options Trading Club is primarily a service for people who are looking to sell options (not buy them).
In addition to this, their trades are run through a Discord server (similar to stock king options), which many customers haven’t had much success with – finding it hard to follow. (Most people have found using a browser on their tablet, cell phone or laptop easier than having to use an app to follow the alerts.)
They mentioned the server is organized well, but there are a lot of different traders posting trades, so some found it a bit confusing.
You can find more information here.
OptionAlarm is a stock options trading alert service that sends out real-time buy/sell signals for over 20 symbols via email or text message. The system also includes a web-based interface where users can view live streaming quotes, charts, and analysis. A monthly subscription to the service costs $97, and there is also an annual plan available for $597 for this options trading newsletter.
Market Chameleon is really more of a SAS that will send you updates when certain trade criteria are met, as opposed to being a real trade alert service.
In order to successfully trade using Market Chameleon, you still need your strategies and the ability to instruct the software what to look for. It works similarly to Trade-Ideas with just a few additional filters available.
OptionTraders can begin at $69 per month, however the vast majority of people found that in order to truly see any benefit from their service, they required the Total Acces package at $99/month.
Users have noted that Market Chameleon provides an abundance of data, but its user interface can be challenging to comprehend and follow. There’s a steep learning curve associated with using their platform; thus it’s not as seamless as many would wish.
OptionsHotline Options Trade Alerts
OptionsHotline doesn’t really provide much when it comes to the specifics about what they offer their members.
The only thing I could really find what that a monthly subscription to the service costs $97, and there is an upgraded monthly version available at $147 per month.
When I searched around for reviews, I found a lot of negative reviews and no positive ones – so this might be the swing trading stock picking service I’d recommend that you avoid the most.
Options Trading Authority Stock Options Trading Alerts
Options Trading Authority is a paid options training program that cost $997. From what I could see, I couldn’t find any information about them giving trade alerts out, other than you can sign up for their email list (so maybe they offer that as an additional service).
I couldn’t find any sort of reviews posted online, so this would be another service I’d recommend avoiding.
Benzinga seems to have this service available for a bit, before they close it again. When last I checked, it was closed to new members.
I saw one particularly scathing review posted by Terry K:
“They make careless volatility based recommendations for their options. Lost an ungodly amount of money with them compared to my day job salary. Better off buying trading for dummies for 5 dollars used on eBay and paper trading on td ameritrade. Do not use!”
But in all fairness, any stock options services are likely to have at least a few bad reviews. After all, it’s impossible to please everyone!
It seems as if they’ve rebranded the program and rather than providing option picks, they are instead providing an options scanning service (which has option visualization tools including an order flow scanner and a volume scanner tool) that helps you discover unusual options trading activity.
They have free access that you can try, but it has a hefty 15 minute delay on reporting.
After that, you need to upgrade and pay $177 per month in order to get any sort of real time reporting. (The benzinga pro options really works hard on their upselling techniques.)
You can check out their unusual options trading volume tracker here.
Option Genius is a service that is focused on selling options rather than buying them and their services start at $79 per month. If you pay more upfront, they will give you a bit of a discount on the monthly fee and the cost per month averages down the more you pay upfront.
I couldn’t find any sort of options contract trade results or recent trade history on their website when I looked at their service, and I couldn’t find much in the way of reviews either.
According to their website, they primarily trade: Ion Condors, Butterflies, Calendar spreads, covered calls and credit spreads.
One thing to keep in mind is that if you’re going to sell options, you’ll need an account that has been approved to trade them BEFORE you can start following these trade alerts.
This generally involves getting additional permission from the brokerage firm you have your trading account with, and it may require you putting more money into your account.
How to choose the right options alerts service
Here are a few things that I really believe you should keep in mind when you are looking to sign up for any trading service: 🤔
- The options alertz service should have a solid reputation 👀
- They must provide accurate and timely data 🕐
- In addition to that, the options alerts provider should really offer other services besides just the trade alerts on their own 📈
- When select ing an alert service, you should weigh out the cost of a membership against the competition 💰
Questions to answer before you sign up for an options alerts service
Before you subscribe to any option alert service, there are a few questions you should try to find answers to – before you sign up 🤔
The questions below are listed to help you figure out exactly which options alert service will meet your individual needs & fit your trading style the best. Here are the questions you need to take into account when making your decision:
- Does the service provide real-time or are they delayed alerts?
- What is its accuracy rate for alerts?
- How are they (the alerts) delivered? Via email, text message, Twitter channel, Discord group… 📨 💬
- What is the cost of the service & what kind of support do they provide (e.g., email or phone)? 📞💻
The different types of options alerts services
Options alerts services offer traders a range of advantages and drawbacks, so it is essensial to comprehend these distinctions before selecting one.
Options alert services offer trade alerts, which give you a heads-up when an upcoming trade setup has been detected. With this type of service, accuraccy can be assuered and often you gain insight from someone else’s trading experience. 😊
Of course, that can eithe rbe a positive or negative indicatro depending on how successful the trader actually is. 🤔
Options alert services can also provide automated trading systems, which automatically place trades for traders based on predetermind criteria. Although these systems take emotion out of trading and allow traders to focus on other aspects of their lives while still participating in markets, they have their drawbacks such as not being able to adjust to changing market conditions and being susceptible to errors. 🤖
The cost of using an options alerts service
Options alerts services come in a variety of price points, each with its own costs. The most popular type is likely the subscription-based model which typically charges either a monthly or annual fee.
There are also free alert services available, though these tend to be less reliable and comprehensive than paid options.
Some services charge a per-trade or per-contract fee, though these are relatively infrequent.
The most prevalent membership option is either a monthly or annual one.
Typically, most services charge a minimum of $100 per month. So you can generally count on paying at least this amount unless you find an attractive promotional offer or discounted yearly promotion. 💰
The different features of options alerts services
Options alerts services 📢 alert traders of potential trading opportunities. They can be utilized for recognizing trends, pinpointing entry and exit points, as well as more.
Before signing up for any service, there are a few things to consider, such as:
- How are alerts delivered? Do they send them out via text, email, Twitter account, Discord server or some combination thereof? Ensure you can actually receive these alerts and feel confident using the required technology.
- Are the instructions provided clear and straightforward? Alerts should be straightforward to utilize and comprehend.
- Are any additional features or services included with a membership? Some provide access to training as well as other data and information, while others simply offer trade alerts.
The benefits of using an options alerts service 📈
- You can be more selective in your trading.
- Receive timely alerts regarding potential trading opportunities 🔔
- Get expert analysis of the current market situation 📊
- Gain insights from other traders’ successes. 💡
- Create your own trading strategies based on how you view certain stocks trading. 💭
What are the Potential Risks of Utilizing an Options Alerts Service?
Of course, as with anything in life, there are risks involved. Here are a couple of quick reminders:
- No service can guarantee 100% success rate. Unfortunately, there will always be losing trades – that’s an inevitable part of trading. 📉
- The service may experience the occasional technical issue. Technology is fantastic, but it’s human to make mistakes. While these instances are hopefully quite rare, they do occur. 💻
If you’re looking for even more reviews about different companies, please see our section that covers the best option newsletter reviews here that will help you find the best options alert service.
FAQ Related to Finding The Best Options Alerts Service
What is an Options Alert Service?
An options alert service helps traders by sending out trade notifications about potentially good trade ideas or set ups for them to take advantage of. By monitoring the markets and issuing alerts when certain conditions are met, these services can provide traders with a helpful way to hopefully increase their trading success. Many options alert services offer unique trading features, allowing users to receive alerts that are specifically tailored to match the members investment strategy and preferences. Options alert services can be extremely useful for active traders who don't have the time to constantly monitor the markets. By automating the process of finding tradeable situations, these services can help users make better and more informed decisions.
How to become an options trader?
There is not just one way you can become an options trader. With that said, there are a few things you could do to improve your chances of being one. Some of these include: studying finance and economics, and practicing trading on a demo account. Networking with other traders can also help. There are also various courses and programs available that can teach you about options trading. Ultimately, this is one job where how you perform is the most important aspect of it.
What is an options trading alert service?
👀 Options trading alert services come in many forms. The most popular is one that sends you an email or text message when they believe there is a trade opportunity that could be profitable. Some traders set up trade alerts within their trading platf orm (or brokerage account), to be notified when a stock hits a particular price point or its volatility exceeds a predefined threshold. Other people might use an alert service to be notified when certain technical indicators are met, such as when the Relative Strength Index drops below 30%. The purpose of using such a options trading alert service is to help traders make more informed and timely decisions regarding when to enter and exit trades. 📈
What is the best options trading advisory service?
The best options trading advisory service is The Empirical Collective. They offer more value than any other trade alert service currently on the market at a fraction of what the competition charges.
Who are the best options traders?
When it come to determin👀ng who are the best options traders, there is no right 🤷♂️ or wrong answer. Some say experienced traders who have been arond for some time tend to be successful 🤔; others attribute success to those with an innovative mind & ability to think outside the box 👽. No matter which approach you take, becoming successful requires skill, experience, knowledge and discipline - not something that can be learned overnight. So if you want to become one of the world's premier options traders 🤑, be prepared for years of hard work and dedication towards perfecting your craft.
Are option alerts good?
Option 🔔🚨 alerts can be an invaluable asset for traders, but you should never blindly follow them. Even if you sign up to receive trade 🔔alerts from a more experienced trader, it is still your responsibility to ensure your trading fits within your personal risk tolerance & aligns with your investment objectives.
How to Choose the Best Options Alert Service?
When selecting 🤔 an option alert 🚨 service, there are a few thing to consider 😕: 1. How time ly are the alerts 😴? Make sure you can receive them quick ly 🏃♂️ via SMS text 💬 or email 📧. 2. The accurac y of predictions? No service will ever be perfect 🤷♀️, but make sure the service gives you the best chance at makin money 💰 from their alert s. 3. What othe r users think about them? A quick Google search 🔍 should reveal some customer about regarding the service; take time to read what they have to say before signing up for any sub scription 📝.
What are put options?
A put option is a contrcct that grants the holder (the one who purchased it) the right to sell a specified amounnt of an underlyinng asset at a specified price within a specified time period. Puts can serve as both an insurrance against stock value drops in portfolios or an avenue for investors to speculate on which stocks they believe will decrease in value.
What is the most important thing to keep in mind when evaluating an options trading alerts service?
When analyzi ng an options trade, the most crucial thing to keep in mind are your goals & objectives. Are yo u seeking quick profits or holing the position for loonger-term gains? Make su ure the service you sign up for aligns with yo ur trading style - whether that be high frrequency tradi ng, day trading or swing trading. Without such a match, any alerts generated from that service will be of little value to you.