How do you pick a good option trade?

The best option picking service is one that has a strong record in terms of profits, and can also give you a solid understanding of the market as well as some useful educational resources. There are several types of services that fall into this category – and each tends to cater to different kinds of traders.

The first kind of best option picking service is a trading alerts service, which is geared toward beginner and intermediate traders. These usually have low commissions and provide real-time options trade recommendations. They also come with a variety of screeners that can help you find the right opportunities.

Another popular option is Benzinga Options, which provides its members with options strategies that are simple to implement. These are compiled by a team of experienced options traders. Benzinga Options also has a track record that has far exceeded the returns of the S&P 500 over the past six months.

A few of the more advanced services offer the ability to analyze your own options trading strategies. These often come with advanced screeners that allow you to look at the profit and loss potential of various options strategies. They can also provide you with a quick snapshot of the odds of winning or losing a particular strategy.

Motley Fool Options is a good example of this type of service. This is a relatively new service that offers both swing-traders and investors a great way to add a little extra income to their portfolios. The Motley Fool Options team scours the market for great options trades, and they only recommend companies that have an attractive long-term holding potential. This is why their options picks have yielded a staggering 84.6% win rate – a much better track record than the average stock-picking service.

Other good options trading alerts services include Webull, which is a browser-based platform that uses Maths (historical probabilities and price movement tendencies) to generate its trading ideas. The platform also comes with a powerful options block trade scanner that lets you see what the big players are anticipating in the market. It also offers tools that can assist you in constructing the most common options strategies, including vertical spreads, calendar spreads, butterfly spreads, and straddles/strangles. It also has a helpful options trading journal and a watchlist feature that allows you to monitor specific stocks.