The world of options trading can sometimes be overwhelming, with traders facing countless options and strategies to choose from. However, with the right strategy builder tool, traders can enhance their trading game by developing effective strategies and incorporating sound risk management principles. In this article, we review the top 5 options strategy builders available online to empower your trades and help you generate consistent profits.
OptionsOracle
OptionsOracle is a free options trading and analysis tool or options strategy builder that provides traders with a platform to create advanced options strategies and analyze risk profiles. It allows traders to test various scenarios by altering the underlying security price, volatility, and transaction costs, among other parameters. OptionsOracle is user-friendly and includes a range of customization options, making it an ideal tool for both beginners and experienced traders. Check more on option strategies.
OptionVue 8
OptionVue 8 is a powerful options analysis and trading system that offers a range of analysis tools and strategies for traders. It features an intuitive interface and supports multiple options trading strategies, including butterfly spreads, iron condors, and straddle options. This options strategy builder also offers real-time options pricing and risk management capabilities, making it one of the most comprehensive options trading software available.
TradeStation Options Station
TradeStation Options Station is a powerful options strategy builder that provides traders with access to a range of valuable analysis and trading tools. It supports a range of options strategies, including straddles, spreads, and ratio strategies. Traders can create their own custom-made trading strategies and perform backtesting to gain insights into potential profits and risks. TradeStation Options Station also offers advanced charting and technical analysis tools, making it an excellent choice for traders who rely heavily on technical indicators. Check more on option strategies.
Thinkorswim
Thinkorswim is a trading platform or options strategy builder that offers a range of options trading capabilities, including advanced options analytics, customized options trading and risk management strategies, and a range of tools to help traders make informed decisions. It includes a feature called Probability Analysis, which allows traders to evaluate the likelihood of option prices reaching certain price targets. thinkorswim also offers live-streaming audio and video, making it an ideal option for traders who enjoy video tutorials and webinars.
OptionsHouse
OptionsHouse is a trading platform or options strategy builder that combines advanced options analysis tools with a user-friendly interface. It offers a range of options trading strategies, including butterfly spreads, straddles, and iron condors. OptionsHouse also includes advanced charting and technical analysis tools, making it an excellent choice for traders who rely heavily on technical indicators. The platform also includes a unique feature called “TradeCYCLE,” which helps traders manage their options strategies through each phase of the trade life cycle. Check more on option strategies.
In summary, options strategy builder tools can be incredibly useful for traders of all levels, by providing valuable analysis and customization options to generate better outcomes. Whether you are just starting out in options trading or looking to refine your existing strategies, these five options strategy builders offer a range of features that can help you achieve your trading goals.
