Is Market Chameleon The Best Options Trading Alert Service

Jeremy BiberdorfBy: Jeremy Biberdorf

October 21, 2023October 21, 2023

 Market Chameleon

Market Chameleon is a comprehensive options research platform for beginner and advanced options traders. It’s a powerful tool that helps day traders and options traders identify opportunities and generate trade ideas.

Market Chameleon offers stock screeners to filter and search for options based on things like the underlying stock, expiration date, and options type. It provides trading ideas, including earnings alerts and options strategies, to help you make informed choices.

Market Chameleon caters to institutional investors of all experience levels. For newbies, it has educational resources to learn the basics. Seasoned options traders can take advantage of the platform’s advanced features, like volatility charts, spread scanners, and algo-based trade suggestions. But does it meet the requirements of being the best options trading alert service? Here is a Market Chameleon review to evaluate this.

Learn More About Market Chameleon

Market Chameleon Membership Options

Market Chameleon offers three membership plans to suit every option trader’s needs and budget.

  • The Stock Trader plan: Starting at just $39/month, you’ll have access to all of Market Chameleon’s core options research tools, stock market screeners, pre-market trading reports, trading ideas, after-hours flow screeners, and earnings alerts.
  • The Options Trader plan: For $69/month, options traders can access advanced tools like options chain analytics, option order flow sentiment suite, and backtested option spreads. You’ll also get options screeners to filter for the best trading opportunities.
  • The Earnings Trader plan: At $79/month, the Earnings Trader plan provides one-of-a-kind reports, earnings calendar, earnings report pattern tools, historical earnings analysis, and historical and forward earnings data by symbol.
  • The Total Access plan: For full access to all of Market Chameleon’s premium features, the Total Access plan is available for $99/month. This plan combines everything in the Stock Trader, Options Trader, and Earnings Trader plans into one complete package for the most serious options traders.

Market Chameleon Features

Market Chameleon offers a robust set of tools for professional traders.

  • Their stock screeners allow you to filter through thousands of stocks and options based on the criteria you set. Look for stocks in a specific industry, price range, volatility level or other metrics.
  • The Unusual Options Scanner shows stocks with big spikes in options trading volume compared to the norm. This could signal an opportunity.
  • Market Chameleon provides trading ideas and real-time trade alerts to help you identify opportunities. Get notifications about earnings releases, options expiration dates, and strategies to consider.
  • An extensive earnings calendar is tailored specifically for experienced traders. See how a stock’s price typically reacts to its earnings announcements so you can anticipate and plan for price movements. This helps you make better trading decisions around a company’s earnings release.
  • It provides its users with a fantastic watchlist feature, allowing for the creation of tailored lists of stocks and options that align with their investment interests. You can easily add stocks, options, and spreads to your personalized watchlists and set up real-time alerts to notify you of price movements or trading opportunities.
  • Market Chameleon has a dedicated customer support team that is available to answer any questions or concerns that users may have. Whether you need help setting up your watchlists, have a question about an alert, or are troubleshooting an issue with the platform, their support staff is there to assist you. Support is offered via email, phone, and live chat.

How to Use Market Chameleon for Strategy Analysis

Once you’ve selected an options trading strategy on Market Chameleon that piques your interest, it’s time to put it through a thorough analysis.

Choose Your Parameters

Customize the strategy by inputting parameters like target stock price, expiration date, and expected return. Market Chameleon will then generate a list of the best strategies that match your criteria. Compare the probabilities of profit, implied volatility, and potential returns of different strategies to find some promising candidates.

Backtest For Effectiveness

The best way to evaluate a strategy is to see how it would have performed in the past. Use Market Chameleon’s backtesting tool to apply your strategy parameters to historical options market data and see the results.

Compare Multiple Strategies

If you have a few strategies in mind but can’t decide between them, compare them side by side. Market Chameleon’s comparison feature lets you evaluate the analytics and backtesting results of a wide range of strategies at a glance.

Monitor And Adjust

Once you’ve implemented a strategy, monitor how it’s performing and be ready to make changes. Review the key metrics regularly to ensure it’s still meeting your needs. You may need to adjust parameters like target price or expiration date in response to financial market changes.

Is Market Chameleon The Best Options Trading Alert Service

Want to improve your options knowledge? Market Chameleon offers resources to expand your understanding of options trading strategies and concepts. Learn through blog posts, video tutorials, glossaries, and their Options 101 course. Stay up-to-date with daily market reports and get a sense of overall market sentiment.

While not the cheapest options trading service, Market Chameleon provides good value for experienced options traders looking to step up their game. Take advantage of their free trial to experience the platform for yourself.

If the powerful tools, actionable trading ideas, and wealth of educational resources meet your needs as an options trader, Market Chameleon could very well be the best options alert service for you. Click here to sign up for Market Chameleon today.

Get Started With Market Chameleon

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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