Option Smart Review

Option Smart ReviewOption Smart is an options advisory newsletter that specialises is in trading option debit spreads on the QQQQ (the NASDAQ Index). They have two services, both of which are autotraded on several platforms. One service is focused entirely on the QQQQ, and the other tragets the NASDAQ index primarily, but also trades other funds. This service has an interesting variation from others in that their fee is performance based. Once your portfolio is above a certain level ($100,000), you simply pay a 5% management fee based on the balance of your portfolio at the end of each quarter. You also get to try it for free for 60 days before committing.

Performance

Option Smart has a very detailed performance record, showing the exact trades that have been made, with graphical comparisons with the S&P. The records are easily accessible, and easily understandable, and appear to be an accurate reflection of performace. The performance records have been verified at Pro Trading Profits. You can see the performance data here

Cost

For accounts that hold a portfolio of less than $100,000 the fee is $195-$219 per month (depending on whether you pay monthly, quarterly or annually. For accounts with more than $100,000, there is an annual managment fee of 5% of the account balance, which is charged quarterly. Qualified investors (those that reside outside the USA and have accounts of more than $1,000,000) pay a management fee of 1% of their account balance, charged quarterly.

Autotrading

The service is autotraded on ThinkorSwim, E-Options, TradeMonster, TradeKing ( ), and Global Auto Trading

Conclusion

Option Smart appears to have better returns than the S&P, although lately this has not been the case. The QQQ picks service claims an annualised return of 25% since inception in June 2010 (compared to the S&P return of 13.1%). Graphically, the drawdowns look pretty steep. The QQQ enhanced service looked spectacular for a while, but in the second quarter of 2013 has dropped to an average annualised return of 12%, which is less than the S&P. The return for the last 12 months (i.e. last two quarters of 2012, and the first two quarters of 2013) is -38%!

You could rely on a service, or you could learn how to do it for yourself. Get an overview of Iron Condor Trading, as well as Credit Spread Trading. Invest in an Iron Condor trading course, and practise your skill with the Iron Condor Simulator.

Have you used this Service?

If you have used, or are currently using this service, please insert your comments below for the benefit of other readers. We would all benefit from your personal experience!

User Comments

Average Rating: starstarstarstar


Anonymous Mar 31, 2013
These are very smart people
Rating: starstarstarstarstar
I've been with Optionsmart Enhanced Portfolio service since September 2009. I've made a lot of money with them. They did have an unfortunate trade in the spring of 2010 that dropped 60% and they rolled twice. It finally make 1% aftewr about nine months when they finally closed it. I hated having so much money tied up for so long, but it was still better than a savings account, except for the sleepless nights in June and July of that year. It's been a very profitable service for me. In June 2012 OptionsXpress suddenly, with no notice, terminated their auto-trading service, so I missed six months of very profitable Optionsmart trades until I got my money moved to Interactive Brokers and eOption. I'm now with the Optionsmart Beneficious service. Stock Market Institute has a Florida address, but it's actually headquartered in Moscow and the operations staff is in Germany. These are very smart people.


Dan Jan 27, 2012
My first and best autotrader
Rating: starstarstarstarstar
I began June 2011 after shadowing a friend's investment for one round. So far have been in about 14 trades and averaging over 20% per trade. Although I expect to have some losses, none have yet occurred. I have made $90,000 plus though I will need to subtract fees, commissions and pay short term taxes. My gross amounts to approximately a 30% ROI in 7 months.
Emails have been answered, usually within 24 hours and once on Sunday, the day I sent it. TDAmeritrade is clueless regarding how this all goes but thankfully autotrading handles the details for me.
I have NEVER made money like this! I pray my good fortune continues.


Jon Dec 03, 2011
QQQ picks is excellent
Rating: starstarstarstarstar
I have been using OptionSmart "QQQ picks" for about two years, and they are excellent. The track record shown on the website is accurate. I am trading their picks myself (not using auto-trading), since I tend to go big in the trades if I also agree with their pick, and small if I do not. In hindsight, I wish I had done all the trades the same, since they have been amazing.


Greg Dec 30, 2010
Options Smart
Rating: starstarstarstarstar
Don't really understand all the negative press! I am subscribed to their sister service Pick Option (Momentum, ETF and Apple). Except for one 60% loss on a position recently, all have been profitable. Results (from autotrading) match those on the web site. I have been getting email replies to my queries (short but helpful). What is everyone complaining about? Greg


Anonymous Dec 28, 2010
Option Smart Big Loses
Rating: starstarstarstarstar
I am with Option smart (momentum plays) for 1.5 years. I joined based on looking on thier track record which showed 98% success of trades (10% each ...) what a naive I was, as when they loose, they wipe 70% if your money, so gaining then few times is no help. I started with 10,000 USD , at some point it become 13,000 and I was happy but now I left with 800 USD, 1.5 years later and its obvious they wiped all my account. Beware, they are big scammers in the way they present thier success and I wouldnt go near them !!


Anonymous Oct 06, 2010
Optionsmart are fraudlent service !
Rating: star
Stay away from optionsmart.com or pickoption.com services. They are they biggest scam ever. The results posted in their website not true and manipulated ! Their customer service is full of rubbish and never answer your emails.

STAY AWAY STAY AWAY STAY AWAY

Don't make expensive mistake like I did :(


Anonymous Oct 04, 2010
Optionsmart is fraudulent
Rating: starstarstarstarstar
Optionsmart is very fraudulent. It has no contact number. Just email. They never respond to emails. Please be wary of them. They are here to dupe you.


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  • Here are the essential details for the trading service, Option Smart. The main focus is trading debit spreads on the QQQQ. Check out their performance for yourself...

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