OptionStrat Review
OptionStrat is a web and mobile app for building, charting and scanning US options trades. The free plan uses 15-minute delayed data; Live Tools ($39.99/mo) adds live prices and Live Flow ($99.99/mo) adds the full unusual-options-flow scanner. It is not a broker, so you still need one to place trades.
4.8★ App Store · 4.3★ Google Play
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
The OptionStrat app has 4.8/5 from 1,926 ratings on the US App Store and 4.3/5 from 1.43K reviews on Google Play (100K+ downloads), checked 22 Sep 2026. Its Trustpilot profile is unclaimed and has only 2 reviews (3.2/5), so the app stores are the better signal.
Why it matters: More than 3,300 app-store ratings with high averages is a solid signal for a niche options tool.
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 ($0), Live Tools $39.99/mo ($419.99/yr) and Live Flow $99.99/mo ($999.99/yr). Both paid plans have a 7-day free trial.
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. For the other calculators and planners covered on this site, see our trading tools section.
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
Limited access to every feature: the strategy builder and optimizer with 50+ prebuilt strategies and P&L charts, using 15-minute delayed data, and a limited view of options flow. Another free tool on this site is the forex liquidation calculator.
Live Tools — $39.99/mo
Adds live prices, chance of profit, net greeks, IV tools, a volume overlay, market events and news, commission settings, saved-strategy tracking and the private Discord. Options flow stays limited. $419.99 if paid yearly ($35/mo).
Why it matters: Live prices and chance of profit are the main reasons to upgrade from Free.
Live Flow — $99.99/mo
Everything in Live Tools plus the full live options flow: saved filters, mobile and web alerts, alert performance tracking, historical flow search, a live newsfeed, and congress and insider trades. $999.99 if paid yearly ($83.33/mo).
Trial & Annual
Both paid plans have a 7-day free trial. Paying yearly costs $419.99 for Live Tools (about 12% off) or $999.99 for Live Flow (about 17% off).
Data & Subscription Notes
⏱️ Free vs Paid Data
The free tier uses 15-minute delayed options data; paid plans get live, auto-refreshing prices. OptionStrat takes its options data from OPRA, the same feed brokers use. Futures data on paid plans is 15-minute delayed.
Why it matters: Delayed data is fine for learning, but active traders need live prices.
Not a Broker
OptionStrat is an analytics tool, not a brokerage — you model trades here and execute them with your own broker. Our broker comparisons set out account types and costs side by side.
Billing
Pay monthly or yearly: Live Tools $39.99/mo or $419.99/yr, Live Flow $99.99/mo or $999.99/yr. Paid plans come with a 7-day free trial.
Who It’s For & Availability
Access & Audience
Available as a web app and iOS/Android apps. Its data covers US-listed options. It is software, not a broker, so you still place trades with your own broker.
Video Guides & Reviews
Watch: OptionStrat in Action
Pros and Cons of OptionStrat
Pros
- Beautiful, beginner-friendly visual P&L builder
- Useful free tier (50+ strategies, delayed data)
- Trade optimizer finds high-ROI / high-probability trades
- Real-time unusual options flow on Live Flow
- 4.8/5 on the App Store (1,926 ratings), 4.3/5 on Google Play (1.43K reviews); web + iOS/Android
- 7-day free trial on both paid plans
Cons
- Real-time data & flow require a paid plan
- Live Flow at $99.99/mo is relatively pricey
- Not a broker — no trade execution
- Focused on US-listed options
- Trustpilot profile is unclaimed, with only 2 reviews
- Flow alerts, saved filters and historical flow need the $99.99/mo plan
What is the Pricing of OptionStrat?
OptionStrat has a free plan and two paid plans, each with a 7-day free trial. Prices from optionstrat.com, checked 22 Sep 2026:
| Plan | Monthly | Yearly | Highlights |
|---|---|---|---|
| Free | $0 | $0 | Limited builder and optimizer, 50+ strategies, 15-min delayed data, limited flow |
| Live Tools | $39.99 | $419.99 ($35/mo) | Live prices, chance of profit, greeks, IV tools, Discord |
| Live Flow | $99.99 | $999.99 ($83.33/mo) | Everything in Live Tools + full live flow, alerts, historical flow, congress and insider trades |
OptionStrat vs Unusual Whales
OptionStrat vs Unusual Whales. Both surface unusual options flow, but they serve different needs. OptionStrat centres on a visual strategy builder and P&L optimizer, with flow as an add-on (Live Flow) — ideal if you want to model and understand trades. Unusual Whales is flow- and data-first, with dark-pool and congressional-trade data, favoured by traders who live off the flow feed. Many traders use OptionStrat to model the ideas that flow tools surface.
Is OptionStrat worth it?
★ 4.8 App Store · 4.3 Google Play
Free plan · paid from $39.99/mo
OptionStrat
Visual options strategy builder
★ 4.8 App Store · 4.3 Google Play
Builder · Optimizer · Flow
FREE PLAN · 7-DAY TRIAL ON PAID
Try OptionStrat →Frequently Asked Questions
Yes. The free plan gives limited access to every feature, including the strategy builder, the optimizer, 50+ prebuilt strategies and P&L charts, using 15-minute delayed data and a limited view of options flow. Live prices and the full flow scanner need a paid plan.
Live Tools costs $39.99 a month or $419.99 a year. Live Flow costs $99.99 a month or $999.99 a year (about $83.33 a month). Prices from optionstrat.com, checked 22 Sep 2026.
No. When we checked on 22 Sep 2026, Live Flow was $99.99 a month, or $999.99 a year, which works out to about $83.33 a month. Older articles may quote other prices.
Yes. Both paid plans, Live Tools and Live Flow, start with a 7-day free trial.
For options traders who want to see a trades
You enter a target price and date, and the optimizer scans thousands of possible trades and ranks them by best return or best chance of profit.
Only on paid plans. Free users see data that is 15 minutes delayed; Live Tools and Live Flow get live, auto-refreshing prices. Options data comes from OPRA.
Live Flow adds the full live options flow, saved filters, mobile and web alerts, alert performance tracking, historical flow search, a live newsfeed, and trades reported by members of Congress and company insiders.
No. OptionStrat is an analysis tool. You build and test trades on it, then place them with your own broker.
Yes. OptionStrat runs in the browser and has iOS and Android apps.