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About Option Alpha
What is Option Alpha?
Option Alpha is a trading platform that helps you build, test, and automate options strategies. It solves the problem of emotional or inconsistent trading by letting you define entry and exit rules, backtest them, and then run automated bots that follow your plan precisely.
Who is it for?
It’s for active options traders who want to remove guesswork and screen time. If you trade with TradeStation or Tradier, you can use Option Alpha for free with a qualifying account. It’s not for complete beginners who want a simple buy-and-sell interface; it’s built for those ready to formalize a rules-based approach.
Real use cases
Example use cases include testing 0DTE strategies before you trade, automating profit-taking and stop-losses, and managing positions automatically even when you’re away. With over 97,000 active bots and $5.2 billion in total transaction volume, it’s a proven platform for systematic trading.
Key features
- Backtesting — Test variations of your strategy with unlimited backtests to find what works.
- Automated bots — Bots execute your entry and exit rules 24/7, removing emotion and screen time.
- Paper trading — Practice with a built-in paper trading engine under live market conditions.
- Position management — Automatically take profits, stop losses, or exit before key events.
- Trade ideas ranked by EV — Discover opportunities with measurable edge, ranked by expected value.
- Bring your own broker — Works with TradeStation, Tradier, and other brokers (on Pro).
SaaSpartout Score
7.1
/10
Editorial score from our review methodology — not user ratings.
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Option Alpha Pricing
Option Alpha pricing: from $0/mo.
For comparison: the median starting price in Finance & Accounting is $19/month, measured across 145 tools we track. See the full SaaS Pricing Index →
Pro
$99/month with annual plan or $149 monthly. Includes trade with any broker, no minimum balance, 50 bots, $100k limit per bot, unlimited backtesting.
Tradier Promo
$0/month with qualifying account (min $5k balance). Includes trade with Tradier, 50 bots, $100k limit per bot, unlimited backtesting.
TradeStation Promo
$0/month with qualifying account (min $10k balance). Includes trade with TradeStation, 50 bots, $100k limit per bot, unlimited backtesting.
All plans include a 30-day free trial with no credit card required.
Frequently asked questions
Is Option Alpha free?
Option Alpha offers a 30-day free trial for all plans. You can also get Option Alpha for free by connecting a qualifying TradeStation or Tradier account (with minimum balances of $10k and $5k, respectively).
How much does Option Alpha cost?
The Pro plan costs $99/month when billed annually, or $149 month-to-month. The Tradier and TradeStation promos are $0/month with qualifying accounts.
What is Option Alpha best for?
Option Alpha is best for active options traders who want to backtest and automate strategies. It’s particularly useful for those who struggle with emotional trading or lack the time to monitor positions constantly.
Can I paper trade on Option Alpha?
Yes, Option Alpha has a built-in paper trading engine that lets you test bots in real-time with live market conditions, without connecting a brokerage account.
What are the top alternatives to Option Alpha?
Common alternatives include tastyworks, ThinkorSwim, and Trade Ideas. However, Option Alpha’s unique focus on automation and backtesting sets it apart.
Does Option Alpha work with my broker?
The free promos require TradeStation or Tradier. The Pro plan allows trading with any broker, though the page doesn’t specify which brokers are supported—contact support for details.
