There are hundreds of websites and options newsletter advisors that make recommendations on options trading. I have found more than 60 that provide options autotrading through one or more of the brokers that I recommend. It is pretty hard to distinguish between all the possibilities, especially given the spectacular claims to profit made by just about every advisor.
On this page, I will give a basic review of as many of these sites as I can find. I will not comment on the value of the site, but will give the basic information that will allow you to make your own judgement. I have added a facility which will let you make your own comments on each advisory service. Other readers will greatly benefit from this. I moderate all the comments, and will not allow abuse!
Here are the criteria that I will include in each review:
Name and contact details of the newsletter advisory
Types of option trading
There is a huge variety, including straight call and put trading, index option trading, LEAPS, covered calls, spreads and iron condor trading, and so on. As far as I can find out, I will list each possibility here.
Price of Subscription
The basic price, and any discounts available
This is the one that everyone wants to know! The difficulty is that the true performance is very seldom reported. If it is a true reflection of the advised trades, I will let you know. Some advisories exclude bad trades. Some show the maximum price achieved by a recommended option contract, but this doesn't necessarily mean you will actually exit at that wonderfully high price! I have placed in each table an indictaion of whether a given service provides easy or pre-puchase access to its performance data ("Easily Accessible?"), whether the data is easily understandable or not ("Easily Understandable?") (i.e. can you import the date and do your own analysis; is it clearly laid out or is it just a mass of confusing figures) and thirdly whether the date is a true reflection of their trades, and not just theoretical based on potential exits ("True Reflection").
Personally, I will never sign up for a service that does not provide up front, pre-purchase, clear and actual data for their performance. If they are really trying to provide a genuine service, they should be unashamed to show how good they are. They only hide the data if their performance is useless but they want to spring you for your money.
I will let you know whether I have found a place where these sites and performances have been independantly reviewed. This is a good safety factor!
So, here they are, in alphabetical order. You can browse the list by clicking on one of the links below, or if there is a specific providor that you are interested in, you can click on the link which will take you directly to the review table:
TOP TIP: Want to learn more? Here is an options trading video course that takes you step by step through real trades on the TOS trading platform. This course is excellent value for money.
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