When it comes to selecting the best option trading service, there are a few factors to consider. Choosing the right service will help you maximize your investment dollars, and ensure that you have a positive trading experience. The following article will discuss some of the most popular services for option traders. In addition to Tastyworks, you should also look into Simpler Trading and eOptions.
Tastyworks
The Tastyworks option trading service allows you to trade in options. Its desktop application offers real-time portfolio statistics, such as delta and theta, liquidity, and buying power. The platform also allows you to consolidate your holdings from other accounts, such as a brokerage account. However, it does not measure the tax implications of future trades.
Users of the Tastyworks option trading service can choose from 20+ different option trading strategies. They can even customize the settings according to their needs. The Tastyworks option trading service also has a feature called “Follow.” Here, you can see the recent trades of a successful trader. The system also shows the date, reason, and P/L. You can also select a specific trade to copy. The service also allows you to filter the results based on different criteria.
Tastyworks offers three trading platforms: a web-based platform, a desktop program, and a mobile app. Each platform offers multiple customizable features, such as watchlists, positions, and trade pages. The platform is designed for active traders who want to stay on top of their options trading. It offers an education portal and a community of other traders.
Simpler Trading
Simpler Trading is a professional online trading community with more than 100 years of experience in the market. Its community is composed of professional and beginner traders and offers educational resources to help traders succeed. The service also provides live trading chat rooms and real-time alerts. Its members also have access to free and premium daily videos and newsletters that offer trading advice.
The courses that are available on the Simpler Trading website are led by a team of options trading experts. The courses will help you learn how to trade intraday and swing trades. The course includes a live trading room, a premium newsletter subscription, and a weekly watchlist. The course is designed to help new traders become more consistent, more profitable traders. The training center has daily market updates, live trading chats, and videos about trading psychology and methodology.
Simpler Trading offers both free and paid memberships. The basic membership offers educational materials and webinars, while the more expensive membership offers more advanced trading courses and advanced research. The founder of the site uses proprietary scans to predict potential trading opportunities. The membership also includes top-rated picks under $10, multi-timeframe analysis, and an updated trade spreadsheet. Besides the education center, Simpler Trading also offers a chat room for members to connect with other investors.
eOptions
eOptions has a wide array of trading tools, which helps traders to make the most money from trading options. It offers a variety of market analysis tools, as well as stock data and option prices, to help traders make the most of their investments. Its stock and option data analysis feature is highly effective, giving traders exact entry and exit prices. Other features include an order flow screener that helps them determine market sentiment. They can also see which stocks are bullish and bearish, giving them a heads up on when to buy and sell options.
eOptions offers several different options analysis tools, including Optionsonar, which is focused on studying option market activities. Its options activity scanner gives users a detailed view of big market movements and indicates how institutional investors are trading. It also offers a block trade screener, which can give users a competitive advantage in trading options.
Webull
One of the most important things to keep in mind when choosing an option trading service is the risk involved. Options trading carries a heightened risk, which is why it is important to be vetted carefully before deciding to trade. Webull offers a tier system that helps its customers avoid the risk of overtrading.
Its platform is also highly rated, with a 4.7-star rating on the Apple App Store and 4.5-stars on the Google Play Store. It has a wealth of useful features for active traders, including good charting tools and the ability to enter complex trade orders. It also offers a robust stock screener. Another notable feature of the platform is the ability to sell stocks short.
Webull allows users to trade when everyone else is sleeping. This is known as premarket hours and allows traders to respond to overnight news. It also offers after-hours trading, which is similar to premarket hours but has lower liquidity. Many institutional investors use after-hours trading. It is possible to access the market after regular trading hours, which is especially beneficial for margin traders. Moreover, you are not charged an extra fee for trading after business hours.