Traders who look for ways to profit from price movements in the stock market have many tools at their disposal. One popular method is to trade options, which are contracts that give you the right (but not the obligation) to buy or sell a particular stock at an agreed-upon price and date. Options trading can be lucrative, but it requires time and expertise. To help, some traders turn to options alert services, which monitor the markets and send real-time alerts of potential trade opportunities. However, are these services worth the investment?
One option alert service that has earned a positive reputation is PowerX Optimizer. The software combines powerful analytics with a user-friendly interface and can help users determine the best trading strategies for their goals. Its free trial period makes it an ideal choice for those interested in testing the waters before investing in a full subscription.
Another option alert service worth checking out is Mindful Trader. This new service, which launched in 2020, offers options picks that are based on scientific data and statistics. For example, the founder of this service did years of research on historical stock market price tendencies and translated those into an options trading strategy. This approach is different from that of most trade alert services, which often make their picks based on gut instinct or past experience.
The service also provides transparency by publishing best options trading alert service – Medium.com its live trading results. From November 2022 to April 2023, the trader behind this option alerts service generated a 75.1% return, which annualized to more than 150%. However, it is important to note that this high-return service also had periods of losses and drawdowns.
This option alert service also offers a range of educational materials and offers speedy real-time alerts. Its VIP video newsletter is released nightly and contains news, options trade recommendations, and lessons. It also features webinar-based conversations led by a professional trader. Moreover, it has a number of social attributes, such as chatrooms and trading journals, that aren’t usually found in other options trading alert services.
Benzinga Options is a new and exciting options trading alerts service authored by Nic Chanine, Benzinga’s star options trader. The service is geared towards beginning option traders and those without in-depth knowledge of options. Its trade setups are strategized for simple implementation, and its track record is impressive with a 91% win rate.
This options trading alerts service is the most affordable of all those reviewed, with a subscription price of only $19 per month. The service only sends alerts during market hours, so it may not be suitable for those who are busy with other activities and can’t keep an eye on their trades at all times. However, it is a great option for those looking for swing trades. The only downside is that it doesn’t offer day trades or overnight riches. Still, it’s a good choice for those looking to grow their options trading skills on a budget.