Optionstrat Review
4.6★ · 3.3k Reviews
Free Plan Available
Paid $39.99–$99.99/mo
Unusual Options Flow
📊 OptionStrat at a Glance — Profile & Stats
🏢 Who Is OptionStrat?
A visual options strategy builder & analytics platform from OptionStrat, LLC, created by founder Heath Milligan. It turns complex options trades into interactive profit/loss charts.
★ Ratings & Reviews
OptionStrat reports a 4.6/5 rating from ~3.3k reviews across app stores, with users praising its clean UI and visual modeling. Its Trustpilot page is sparse (a single review), so app-store ratings are the better signal.
Why it matters: App-store reviews (~3.3k) are far more representative here than the near-empty Trustpilot profile.
🖥️ Platforms
Browser-based web app plus iOS and Android apps — model trades on desktop or mobile.
🎯 What It Does
Build and visualize 50+ options strategies, see profit/loss, breakevens, greeks and probability, then scan unusual options flow.
💲 Price Range
Free builder ($0), paid Live Tools $39.99/mo and Live Flow $99.99/mo; annual billing saves ~12%, with a 7-day trial on paid plans.
🎯 Best For
Options traders who want visual P&L modeling, an automatic trade optimizer, and real-time unusual-flow alerts.
⚡ Key Features Breakdown
📈 Strategy Builder & Visualizer
Pick strikes and expirations and instantly see an interactive P&L curve with breakevens, greeks and the effect of time decay and implied volatility.
Why it matters: Seeing the payoff curve before you trade makes complex multi-leg options far easier to judge.
🧮 Trade Optimizer
Searches thousands of potential trades to surface those with max ROI or max chance of profit for your outlook.
🌊 Unusual Options Flow
The Live Flow tier streams large and unusual options trades in real time with custom filters and alerts.
📚 50+ Strategies & Education
Prebuilt templates (spreads, condors, butterflies, etc.) plus clear written explanations make it a strong learning tool.
🔄 Top OptionStrat Alternatives
Unusual Whales
Popular for real-time options flow and dark-pool data — overlaps with OptionStrat’s Live Flow tier.
Market Chameleon
Deep options analytics, earnings and volatility research; broader data, less visual than OptionStrat.
OptionNet Explorer
Advanced strategy modeling and backtesting favoured by income/spread traders.
thinkorswim Analyze
Free built-in options analyzer for Schwab/thinkorswim clients — capable but less beginner-friendly.
🧩 Plans & Pricing by Tier
Free — $0
Full strategy builder, 50+ prebuilt strategies and P&L visualization with 15-minute delayed data. No card required.
Live Tools — $39.99/mo
Adds real-time data, profitability estimates and the private Discord. Annual billing saves ~12%.
Why it matters: Real-time data is the main reason active traders upgrade from Free.
Live Flow — $99.99/mo
Everything in Live Tools plus the full unusual options flow scanner with custom filters and alerts.
Trial & Annual
Paid plans include a 7-day free trial, and switching to annual billing saves about 12%.
💵 Data & Subscription Notes
⏱️ Free vs Paid Data
The free tier uses 15-minute delayed options data; paid plans unlock real-time, auto-refreshing quotes and live profitability estimates.
Why it matters: Delayed data is fine for learning, but day-traders need the real-time upgrade.
🔗 Not a Broker
OptionStrat is an analytics tool, not a brokerage — you model trades here and execute them with your own broker.
💳 Billing
Pay monthly or annually (annual saves ~12%). Paid tiers come with a 7-day free trial.
🌍 Who It’s For & Availability
Access & Audience
Available as a web app and iOS/Android apps, focused on US-listed options. Because it is software rather than a broker, there are no funded-account country bans — anyone can use the free builder, and traders upgrade for real-time data and flow.
🎥 Video Guides & Reviews
Watch: OptionStrat in Action
