OptionStrat is an options toolkit built around 3 tools: a strategy builder that visualizes profit and loss for over 50 strategies, an optimizer that scans thousands of potential trades to find the best fit for a given directional view, and an unusual options flow feed powered exclusively by OPRA data. The platform is aimed at traders who want to visualize what they are getting into before placing a trade, confirm their ideas against real institutional order flow, and do it all without switching between multiple applications. Free users can access a delayed version of all 3 tools. Paid plans unlock live data, saved filters, alerts, and the full feature set.
Credibility Check
Company: OptionStrat, LLC Contact: optionstrat.com/contact Legal status: Not an investment advisor, per disclaimer on every page App ratings (self-reported on pricing page): 4.6/5 based on 3,300 reviews (App Store and Play Store combined, as stated on the membership page) Trustpilot: 3.4/5 based on 1 review (verified April 2026). The profile is unclaimed. The single review, from November 2025, is 3 stars and criticizes lack of email support responsiveness.
The legal entity, OptionStrat, LLC, is confirmed in the site footer. No registered address is disclosed on the website. No individual team members are named anywhere on the public-facing site. The About page describes the company’s values but does not name founders or executives. The absence of an address and team identification are gaps worth naming.
The Trustpilot position is not a meaningful data point with 1 review. The platform does not claim a Trustpilot score; the app store rating of 4.6/5 across 3,300 reviews is what they cite publicly, and that figure is on the membership page itself.
The data quality disclosure on the homepage is worth noting: OptionStrat states it calculates and charts trades using data provided exclusively by the Options Price Reporting Authority (OPRA), the same source as trading platforms. Free users see 15-minute delayed data; premium accounts receive live auto-refreshing data.
The 3 Core Tools
OptionStrat frames its product around 3 distinct tools rather than one integrated dashboard. Each can be accessed separately, and the pricing structure reflects this: traders who want the strategy builder and optimizer but not the flow feed pay less than those who want everything. Understanding what each tool does independently matters before evaluating whether the combined subscription justifies the cost.
Strategy Builder
The strategy builder is described as OptionStrat’s flagship product. It visualizes the expected profit and loss of a given options strategy across a range of stock prices and future dates, using real OPRA data to price each leg. The visualization approach distinguishes it from traditional options calculators: instead of outputting a table of numbers, the builder shows an interactive chart and table that updates as strikes are dragged, expirations changed, or IV assumptions adjusted.
Over 50 pre-made strategies are available, organized by complexity level. Novice strategies include long calls, long puts, covered calls, and cash-secured puts. Intermediate strategies cover credit spreads, iron butterflies, iron condors, calendar spreads, diagonal spreads, debit spreads, straddles, and strangles. Advanced strategies include naked puts and calls, ratio backspreads, broken wing butterflies, covered short straddles, and covered short strangles. Expert strategies cover ratio spreads, synthetic positions, arbitrage structures, strips, straps, guts, short guts, and double diagonals.
The full list runs from the simplest directional trades to structures most retail traders will never use. Each strategy has a brief plain-language description explaining the directional bias, the profit and loss characteristics, how time decay affects it, and how it responds to volatility changes. That education embedded in the tool itself is one of OptionStrat’s stated priorities: the about page describes reducing the complexities of the market to principles you can grasp.
Beyond the preset strategies, traders can build their own by selecting strikes and expirations manually. Futures options are supported: adding a slash before the symbol (for example, /ES) searches futures rather than equities.
The Live Tools plan adds several features to the builder beyond the free version. Live prices replace 15-minute delayed data. Market events appear alongside the strategy, including earnings dates, ex-dividend dates, and news, so the trader can see upcoming catalysts that might affect the position. A volume overlay shows the most active strikes for calls and puts as a chart above the strategy, helping traders see where the market is concentrating activity. Net greeks for the combined multi-leg strategy are shown and charted over time. IV enhancements allow adjusting IV per expiration independently and viewing IV history. Commission fees can be added to calculations. Saved strategies track high, low, and historical performance over time and can be exported.
Options Optimizer
The optimizer takes a directional view and a target date as inputs, scans thousands of potential trades, and returns them ranked by either best return or best chance of profit. The trader selects their sentiment (bullish, neutral, or bearish), sets a target price or date, and the tool does the searching.
This addresses a specific problem: a trader who knows Apple is going to $220 before the end of the month but does not know whether a long call, a bull call spread, or a different structure best fits that view at current pricing. The optimizer answers that question by calculating the expected return and probability of profit for each potential structure and ranking them.
Risk tolerance is factored into the ranking. OptionStrat describes the optimizer as taking into consideration your selected risk tolerance alongside the potential trades, which means it is not simply returning the highest theoretical return without regard for position sizing or defined risk. The tool helps traders understand the risk-reward relationship across multiple strategies simultaneously, which is particularly useful for traders who are comfortable with directional bias but uncertain about structure selection.
The chance of profit calculation and probability distribution view are Live Tools features. Free users see the optimizer but without those probability layers.
Unusual Options Flow
The flow tool is where OptionStrat competes most directly with dedicated flow platforms like FlowAlgo and Cheddar Flow. The key differentiation OptionStrat makes is strategy detection: rather than showing individual legs in isolation, the platform pieces together multi-leg strategies from their component trades, so a 4-leg iron condor that arrived as separate individual orders appears as a single iron condor in the feed. Other platforms, OptionStrat notes, could give the wrong picture by showing interconnected trades as unrelated.
The platform scans hundreds of trades per second and consolidates fragmented large orders to reveal their true aggregate size. This is the same consolidation methodology described across all flow platforms: a 1,000-contract order that arrives as 100 separate 10-contract fills appears as a single 1,000-contract order rather than 100 small trades.
4 order types are distinguished in the feed:
Single: A relatively small order executed as one transaction.
Sweep: A multi-exchange order, split across multiple venues, indicating urgency. Each leg is for the same contract.
Split: Similar to a sweep but confined to a single exchange.
Block: A privately negotiated off-exchange order. These are often the largest in dollar value, frequently in the millions, and may represent a bundle of contracts across different strikes or expirations.
The flow feed shows both buy-side and sell-side transactions by detecting the urgency and aggression of the order. Above-ask buys and below-bid sells indicate urgency, as the trader was not willing to wait for a better price. Clicking any individual flow item opens the stats for that order including how to replicate it and the current performance since the trade was made. OptionStrat tracks every flow item from the moment it is alerted until expiration, building a performance history for each order.
The flow summary page ranks tickers by a proprietary score reflecting both the number of unusual trades and the size and sentiment of those trades. SPY and QQQ do not dominate the top of the list simply because they have high volume; the ranking weights directionality and unusual character of the activity.
What free users see: 15-minute delayed data, approximately 10% of the total flow.
What the Live Flow plan adds:
- Real-time data with no delay
- Saved custom filters, highlighted in the feed
- Mobile and browser alerts when matching trades appear
- Performance tracking on individual flow items
- Historical flow access for past days
- Live news feed filtered by ticker
- Congress and insider trade flows
The Live Flow plan also includes all Live Tools features (strategy builder and optimizer at full functionality), making it the all-in subscription.
Congress, Insider, and News Flow
OptionStrat’s flow section extends beyond options to cover 3 additional data types, all accessible from the same flow navigation.
Congress Flow tracks stock trades reported by US congress members and their immediate family under STOCK Act disclosure requirements. Congress members have up to 45 days by law to report transactions, so this data is not real-time. OptionStrat displays it in a filterable interface alongside the options flow.
Insider Flow pulls SEC filings from company executives and major shareholders, the same Form 4 data that platforms like InsiderFinance also track. Executives are required to disclose trades to prevent the use of non-public information for profit, and OptionStrat notes that insiders nonetheless may trade on information that others lack.
News Flow consolidates the live headlines that appear throughout the platform in a single filterable view. The same breaking news that surfaces when clicking a specific flow item is available in aggregate here, filterable by the same criteria as options flow.
All 3 flow types support alerts, so subscribers can set up notifications not just for unusual options activity but for congressional disclosures, insider filings, and news events affecting tickers they follow. The alert architecture is the same across all feed types.
Data Source and Latency
OptionStrat is explicit about its data source: all options data comes exclusively from the Options Price Reporting Authority (OPRA). OPRA is the centralized processor for US options market data. This means OptionStrat receives the same data feed that trading platforms use, rather than a derived or aggregated third-party source. Free users receive that data with a 15-minute delay; premium accounts receive live auto-refreshing data.
The professional use restriction is also disclosed clearly on the membership page: live data is only available to individual and non-professional users. Professional investment advisors, SEC/FINRA registered persons, and similar regulated individuals cannot access live data due to licensing costs for professional use. They can still access all other paid features.
Mobile App
OptionStrat has native iOS and Android apps. The App Store and Google Play links are present on both the homepage and membership page. This is a meaningful differentiator from platforms that are browser-only. Mobile alerts for flow and saved strategy tracking are part of the Live Flow subscription, meaning the mobile app is a functional delivery channel for the alert system, not just a read-only dashboard.
Pricing
OptionStrat has 3 tiers. A 7-day trial is available on both paid plans.
| Plan | Monthly | Annual (save 12%) |
|---|---|---|
| Free | $0 | $0 |
| Live Tools | $39.99/month | ~$35.19/month |
| Live Flow | $99.99/month | ~$87.99/month |
Free includes: Strategy builder with 50+ strategies (delayed data), optimizer (delayed, no probability calculations), flow summary and live feed at 15-minute delay showing ~10% of trades, no saved filters or alerts.
Live Tools ($39.99/month) adds: Live prices in strategy builder and optimizer, market events and news alongside strategies, volume overlay, chance of profit and probability distribution, net greeks for multi-leg strategies, IV per-expiration adjustment and IV history, saved strategy performance tracking with export, commission fee calculations, private Discord group chat, 15-minute delayed futures data.
Live Flow ($99.99/month) adds everything in Live Tools plus: Real-time options flow with no delay, saved custom filters with highlighting, mobile and browser alerts on filter matches, performance tracking on individual flow items, historical flow search, live news feed, congress and insider trade flows.
The pricing structure is clean. Traders who want the strategy builder and optimizer for position analysis without a flow feed pay $39.99/month. Traders who want the flow feed get the builder and optimizer included. There is no plan that offers flow without the builder and optimizer.
Annual billing saves 12% across both plans. The professional user restriction on live data applies at all paid tiers.
Trustpilot and External Validation
Trustpilot has 1 review for OptionStrat, with a 3-star rating from November 2025. The review criticizes email support responsiveness and a missing January expiration date. The profile is unclaimed, meaning OptionStrat has not engaged with the review. A single 3-star review is statistically meaningless, but the unclaimed profile and absence of any company response are worth noting.
OptionStrat’s own membership page cites 4.6/5 stars with 3,300 reviews. Those ratings come from the App Store and Google Play, not Trustpilot. The iOS app and Android app are where the platform has accumulated its review volume.
What OptionStrat Does Not Do
No dark pool tracking is included, at least not as a named feature in the flow tool. The platform tracks equity block trades and OPRA-sourced options flow but does not describe dark pool prints as a separate data category the way Cheddar Flow or FlowAlgo do.
No IV screener exists as a standalone tool in the style of dedicated implied volatility screeners. IV data is present in the strategy builder, and IV adjustments per expiration are a Live Tools feature, but there is no market-wide IV ranking or percentile scan to surface high or low IV environments across hundreds of tickers simultaneously.
No company address is disclosed publicly. The legal entity (OptionStrat, LLC) is confirmed in the footer, but no physical location, founder names, or team information appears anywhere on the site.
Pros
- OPRA-exclusive data source: same feed as trading platforms, disclosed transparently
- Strategy builder covers 50+ strategies from novice to expert level, with plain-language descriptions embedded in each
- Multi-leg strategy detection in the flow feed: iron condors and spreads appear as unified strategies, not fragmented legs
- Order type classification: Single, Sweep, Split, and Block clearly distinguished
- Flow performance tracking: every flow item is tracked from alert to expiration
- Congress, insider, and news flow all included in Live Flow alongside options flow
- Native iOS and Android apps with mobile push alerts
- Optimizer scans thousands of trades to find best return or highest probability structure for a given directional view
- 7-day trial on both paid plans
- Clear professional use restriction disclosure on the pricing page
- Annual billing saves 12%
Cons
- No registered address or team names disclosed anywhere on the site
- Trustpilot profile is unclaimed with 1 review; OptionStrat has not responded to the only public independent review on record
- No dark pool data as a distinct named feature
- No market-wide IV ranking or percentile screener to surface high or low IV opportunities across the market
- Live Flow at $99.99/month is the same price as platforms that offer more dedicated flow features. Traders whose primary use case is flow rather than strategy building are paying for bundled tools they may not need
- Free tier shows only ~10% of flow with 15-minute delay, which is limited for evaluating whether the flow quality meets expectations before subscribing
Bottom Line
OptionStrat is the strongest option in this category for traders who want strategy visualization and flow in one place. The strategy builder is genuinely the most visual and intuitive tool for modeling positions before entry. The optimizer solves a real problem: finding the best structure for a directional view when the trader has conviction on direction but not on structure. The flow tool adds institutional context to those tools, and the multi-leg strategy detection means complex institutional trades appear correctly rather than as noise.
At $99.99/month for Live Flow, it is priced the same as dedicated flow tools like FlowAlgo. The question is whether the added value of the strategy builder and optimizer justifies that price for a trader who primarily wants flow. If the answer is yes because both tools are genuinely useful, the combined subscription is strong value. If flow is the only objective, a dedicated flow platform may offer more depth for the same price.
The free tier is the right place to start. The strategy builder works without a subscription, and the delayed flow gives enough of a feel for the feed quality to make an informed decision about whether to trial the full platform.
FAQ
What data source does OptionStrat use for options pricing?
OptionStrat uses data provided exclusively by the Options Price Reporting Authority (OPRA), the centralized processor for US options market data. The platform states this directly on the homepage, noting that OptionStrat gets the same data that your trading platform does. Free users receive OPRA data with a 15-minute delay. Live plans receive auto-refreshing real-time OPRA data.
What is the difference between a Sweep, Split, and Block in the flow feed?
OptionStrat defines these 3 order types specifically on the flow page. A Sweep is a multi-exchange order split across multiple venues, indicating urgency, where each fill is for the same contract. A Split is similar but confined to a single exchange. A Block is a privately negotiated off-exchange order, typically the largest in dollar value, often millions of dollars, and may bundle contracts across different strikes and expirations. Single orders are relatively small trades executed as one transaction.
How does OptionStrat detect complex multi-leg strategies in the flow feed?
OptionStrat’s flow platform pieces together individual legs of a trade to identify the overall strategy. Because large traders often have their orders filled as multiple smaller transactions, a 4-leg iron condor may arrive as 4 separate orders. OptionStrat consolidates these into the underlying strategy, so the feed shows an iron condor rather than 4 unrelated trades. The platform notes that on other platforms, interconnected trades could easily give the wrong picture when viewed in isolation.
Can professional investment advisors or registered persons use OptionStrat?
Professional investment advisors, SEC/FINRA registered persons, and similar regulated individuals can access all paid features except live data. The membership page discloses this directly: live data is only available to individual and non-professional users due to the licensing costs required for professional use. These users can still use the strategy builder, optimizer, and flow tools but will see delayed rather than live data.
What is included in the free plan?
Free users can access the strategy builder with over 50 pre-made strategies, the options optimizer, and the flow summary and live feed, all with 15-minute delayed data. Approximately 10% of total flow is shown on the free plan. Saved filters, alerts, historical flow, performance tracking, chance of profit calculations, net greeks, and live news are all restricted to paid plans.
Does OptionStrat have a mobile app?
Yes. OptionStrat has native apps on both iOS (App Store) and Android (Google Play). The apps support the full platform including flow monitoring and, for Live Flow subscribers, mobile push alerts when trades match saved filter criteria.
What is the refund or cancellation policy?
OptionStrat offers a 7-day free trial on both the Live Tools and Live Flow plans. Cancellation and subscription management details can be accessed through the account settings. The platform encourages users to take the 7-day trial to check out the platform risk-free, per the About page. Specific refund terms are available in the Terms of Service linked in the site footer.
Is there a Discord community?
Yes. A private Discord group chat with other members is included in the Live Tools plan and above. The About page also references an open Discord community where traders share experience and the platform posts weekly trade idea videos. The private Discord is a subscriber benefit; the general community Discord is open to non-subscribers.