Market Chameleon Review 2023
|By: Jeremy Biberdorf||Apr 29, 2023|
In a nutshell: Market Chameleon is a comprehensive options research platform that caters to both beginner and advanced options traders. It is a powerful tool that helps stock traders and investors to identify trading opportunities and generate trade ideas by providing a range of market research tools and features.
Market Chameleon offers a range of stock screeners that allow users to filter and search for options trading opportunities based on various criteria such as underlying stock, expiration date, and options type. It also provides a range of trading ideas, including earnings alerts, and options strategies, to help traders make informed decisions.
Keep reading for our full Market Chameleon review to determine if it’s right for you.
|$0 - $99/mo||Stock screener|
- Comprehensive research
- Wide range of tools
- 7-day free trial
Compare to Other Investment Platforms:
Fees$0 - $99/mo
Annual Subscription Fees$999/year. Stock Advisor platform is $199
Fees$99/mo or $997/yr
Market Chameleon History
Market Chameleon was founded by William McBride, an experienced options trader and market researcher with a passion for helping others succeed in the financial markets. Since its inception, the company has continued to grow and expand its offerings, providing a comprehensive options research platform to a wide range of traders and investors.
Market Chameleon has consistently received positive reviews and accolades from users and industry experts alike, highlighting its powerful tools and comprehensive options research capabilities.
Market Chameleon offers a range of membership options to suit the needs of different users. The platform offers four main premium pricing tiers: Stock Trader, Options Trader, Earnings Trader, or Total Access.
- Stock Trader plan: is the most basic and affordable option, starting at $39 per month. It includes access to all of Market Chameleon’s core options research tools, including stock screeners, pre-market trading report, trading ideas, after hours stock screener, and earnings alerts.
- Options Trader plan: Starting at $69 per month. It includes additional tools for advanced options traders, such as options chain analytics, option order flow sentiment suite, backtested option spreads, option specific screeners (covered calls, naked puts, call spread, put spreads, at-the-money straddle) and much more.
- Earnings Trader plan: includes Earnings based research tools with one-of-kind reports, earnings calendar, earnings report pattern tools, historical earnings analysis, historical and forward earnings data by symbol and more for $79/month
- Total Access Plan: to allow users to access all of their premium features for only $99/mo
Market Chameleon Features
Market Chameleon offers a range of features and tools to help traders and investors succeed in the financial markets. Some of the key features include:
- Stock screeners: Market Chameleon offers a range of stock screeners that allow users to filter and search for options trading opportunities based on various criteria such as underlying stock, expiration date, and options type.
- Trading ideas: Market Chameleon provides a range of trading ideas, including earnings alerts and options strategies to help traders make informed decisions.
- Market research tools: Market Chameleon offers a range of market research tools that cater to a variety of investment styles, including fundamental analysis, technical analysis, and options analysis. These tools help traders and investors to stay up-to-date with the latest market trends and make informed decisions about their investments.
- Customer support: Market Chameleon has a dedicated customer support team that is available to answer any questions or concerns that users may have.
There are several pros to using Market Chameleon as an options research platform. Here are a few:
- Comprehensive options research: Market Chameleon offers a range of options research tools that cater to both beginner and advanced options traders. These tools include stock screeners, trading ideas, earnings alerts, and options strategies, to name a few.
- Wide range of market research tools: Market Chameleon is not just limited to options research. It also offers a range of market research tools that cater to a variety of investment styles, including fundamental analysis, technical analysis, and options analysis.
- 7-day free trial: Market Chameleon offers a 7-day free trial, which allows users to try out the platform and see if it is a good fit for their investment needs before committing to a paid membership.
Like any product, Market Chameleon has a few cons that are worth considering:
- Pricing tiers: Market Chameleon offers a range of pricing tiers, which may not be suitable for all users. While the platform does offer a 7-day free trial, users may still need to pay a fee to access certain features and tools.
- May require a learning curve: For beginner options traders, Market Chameleon’s extensive range of features and tools may require a learning curve to fully utilize and benefit from the platform.
Analyzing Options Trading Strategies with Market Chameleon
One of the standout features of Market Chameleon is its ability to help users analyze and implement various options trading strategies. Here are some benefits of using Market Chameleon for strategy analysis:
- In-depth strategy breakdown: Market Chameleon provides a comprehensive breakdown of various options trading strategies, including long calls, long puts, covered calls, iron condors, and vertical spreads, among others. This allows users to explore different strategies and understand the risks and rewards associated with each.
- Strategy-specific analytics: Market Chameleon offers detailed analytics for each strategy, such as implied volatility, probability of profit, and expected return. These analytics can help traders make informed decisions about which strategies are best suited for their risk tolerance and investment goals.
- Strategy comparison: Market Chameleon allows users to compare multiple strategies side by side, making it easier to choose the best one based on factors such as risk, reward, and probability of success.
- Customizable parameters: Users can input their own parameters, such as target stock price, target date, or desired return, to generate a list of strategies that meet their specific investment criteria. This customization feature ensures that the platform caters to individual investment goals and preferences.
- Backtesting: Market Chameleon provides backtesting tools, enabling users to test their chosen strategies against historical market data. This helps traders gauge the effectiveness of their strategies and make adjustments as needed.
How to Use Market Chameleon for Strategy Analysis
- Choose a strategy: Begin by selecting an options trading strategy that you’re interested in exploring. Market Chameleon offers a range of strategies to choose from, including basic and advanced strategies.
- Input your parameters: Customize your strategy analysis by inputting your desired parameters, such as target stock price, target date, or expected return. Market Chameleon will then generate a list of strategies that meet your specific criteria.
- Analyze the results: Review the generated strategies and their corresponding analytics, such as implied volatility, probability of profit, and expected return. Use these metrics to determine which strategy is best suited for your investment goals and risk tolerance.
- Compare multiple strategies: If you’re unsure about which strategy to choose, use Market Chameleon’s comparison feature to evaluate multiple strategies side by side. This can help you make an informed decision about which strategy is most likely to yield the best results.
- Backtest your chosen strategy: Once you’ve selected a strategy, use Market Chameleon’s backtesting tools to test its effectiveness against historical market data. This will help you gauge the potential success of your chosen strategy and make any necessary adjustments.
Who is Market Chameleon Best For?
Market Chameleon caters to a variety of traders and investors in the options market. Here, we’ll briefly discuss who can benefit the most from the platform and who might not be an ideal fit.
- Beginner Options Traders: Market Chameleon offers educational resources and user-friendly tools, making it suitable for those new to options trading.
- Advanced Options Traders: Seasoned traders can leverage Market Chameleon’s in-depth market research, strategy analysis, and cutting-edge tools to uncover new opportunities and optimize their trading strategies.
- Stock Traders Interested in Options Trading: Market Chameleon can assist stock traders in transitioning to options trading, offering the necessary knowledge and tools to succeed in the options market.
- Long-term Investors: The platform can help long-term investors diversify their portfolios and hedge their positions using options trading strategies.
Not Ideal For:
Market Chameleon may not be the best fit for traders and investors who:
- Have a limited budget: The platform’s pricing tiers may be prohibitive for those with a limited budget, especially for users who require access to advanced features.
- Prefer a simplified platform: Users who prefer a simplified, less feature-rich platform may find Market Chameleon overwhelming due to its extensive range of tools and features.
Is Market Chameleon worth it?
It’s safe to conclude after our review of Market Chameleon, it is a comprehensive options research platform that offers a range of powerful tools and features to help traders and investors succeed in the financial markets. Its extensive range of stock screeners, trading ideas, and market research tools cater to both beginner and advanced options traders, making it a versatile and valuable tool for anyone looking to improve their options trading skills.
So, is Market Chameleon worth it? If you’re an options trader looking for a comprehensive options research platform with powerful tools and features, then the answer is definitely yes.
In the end, the decision to sign up for Market Chameleon ultimately depends on your individual investment goals and needs. If you’re interested in trying out the platform and seeing what it has to offer, we recommend taking advantage of the 7-day free trial to see if it’s a good fit for you.
Sign up for Market Chameleon today and start taking control of your options trading success!