Optionistics is a platform that helps traders analyze options contracts and spot trading opportunities. In this review, I’ll dig into its key features, costs, and whether it’s actually worth your time. The platform offers data tools and resources for both beginners and more seasoned options traders.
Features
Optionistics packs in several tools to help traders make smarter calls in the options market. Here’s what stands out:
Options Calculators: The site offers calculators that let traders estimate option prices using models like Black-Scholes. You’ll see values like Delta, Gamma, Vega, Theta, and Rho. If you want to test different scenarios before jumping in, just punch in your numbers and see what happens.
Price History Charts: You get free historical price charts by entering a ticker symbol. These charts show past price moves and let you test out trading ideas. It’s actually pretty handy for seeing which options have gained value over time.
Screeners: There’s a bunch of screening tools for both stocks and options. These help you find trades based on stuff like price, volume, and volatility. Some of the specific screeners include:
- 52-week high/low Implied Volatility
- Straddles
- Option Spreads
- Covered Calls
- Volatile stocks
- Volume change
- Skew Finder
- Trade Finder
- Dividends
Volatility Analysis: You can pull up volatility charts for individual stocks, check implied volatility, see put-call ratios, and dig into volatility skew. This kind of info can help you spot interesting opportunities, if you know what to look for.
Educational Resources: There’s a solid options tutorial that covers basics, pricing, and more advanced strategies. You’ll also find articles from traders on profit chances, trading costs, and different strategies. Not everyone will read them, but they’re there if you want to go deeper.
Morning Hot Sheet Reports: Subscribers get daily reports with market movers, sector activity, and open interest changes. These reports are meant to help you prep for the trading day, though how much you use them is up to you.
Costs
Optionistics has different subscription plans that give you varying levels of access and data speed.
Free Registration: You can sign up for free and get basic tools with delayed data (about 15 minutes behind). Free features include:
- Basic options calculators
- Delayed stock and options quotes
- Limited screeners
- Educational resources
Standard Subscription: According to 2018 pricing, the standard plan runs $35 a month or $299 a year. This plan gives you:
- Real-time volatility data
- End-of-day price updates
- Full access to all screeners
- Morning hot sheet reports
- Volatility skew analysis
Historical Data Add-On: If you want to backtest with old data, this add-on was $45 a month or $399 a year (2018 numbers). It includes:
- Stock quotes going back to January 2008
- Option quotes history
- Strike peg data
- 1 million data points per month
Historical data downloads use a points system. Each stock quote costs 5 points, option quotes use 1 point, and strike pegs take 10 points. Standard subscribers get 1,000,000 points monthly.
You pay through PayPal, and once you pay, you get instant access. There’s a 7-day free trial for new users who want to try out premium features before committing.
Summary
Optionistics brings together a strong set of tools for options traders. It helps you analyze the market, find trades, and learn about strategies. Between the screeners, calculators, and historical data, there’s a lot here for traders at pretty much any skill level.
Pros and Cons
Pros:
- You can pull up free historical price charts by just entering a ticker symbol.
- There’s a pretty comprehensive set of options calculators.
- Multiple screening tools are available for different trading strategies.
- The platform offers educational resources, especially handy for beginners.
- Volatility analysis tools are included.
- Pricing is reasonable compared to what some competitors charge.
Cons:
- Free users only get delayed data, which can be a pain if you need real-time info.
- Accessing historical data costs extra with a subscription.
- There’s no native API, so integrating data isn’t straightforward.
- The interface feels a bit dated, especially if you’re used to slicker platforms.
- Technical support options are pretty limited.
- There are monthly data point limits on historical downloads, which can be frustrating.
Optionistics goes up against other options data providers like OptionVue, OptionsPlay, E*TRADE (which used to be OptionsHouse), LiveVol, and Quantcha.
Each of these platforms brings something different to the table. Optionistics, though, carves out a niche with its mix of educational resources and analytical tools.
If you’re watching your budget, you might look at Finviz for free stock screening, but it doesn’t have as many options-specific features.
Honestly, the best platform depends on your trading needs, budget, and what kind of data you actually use.