OptionStrat
optionstrat.com
Visual options strategy builder and optimizer with payoff charts and Greeks, plus an unusual options flow feed, free on 15-minute delayed data.
What it is
OptionStrat has three parts. The strategy builder lets you pick a ticker, expiration and strikes and immediately see cost, maximum profit and loss, breakevens and an estimated profit and loss table or chart; strikes can be dragged and implied volatility adjusted to see how the trade changes. The optimizer works the other way round: you give a price target or sentiment, an expiration and a risk preference, and it suggests trades. The flow section scans for large and unusual options orders and groups multi-leg trades such as spreads and condors.
The free plan uses OPRA data delayed by 15 minutes and gives limited access to each feature. Live Tools adds real-time prices, chance of profit, net and future Greeks, IV history, commissions, saved strategy tracking and market events such as earnings and ex-dividend dates. Live Flow adds the real-time flow feed with saved filters, alerts, historical flow search, a live newsfeed and congressional and insider trades, and it includes everything in Live Tools.
Calculations use the Bjerksund-Stensland American option model. Futures options on CME contracts such as /ES and /NQ are supported, but futures data is always 15 minutes delayed. OptionStrat is a planning tool, not a broker: you place trades elsewhere.
Key features
- Strategy builder
- Build any single or multi-leg strategy from dozens of templates and see payoff, breakevens and P&L by date and price; saved trades can be tracked like a paper portfolio.
- Optimizer
- Suggests trades for a target price or sentiment and expiration, ranked for maximum return or maximum chance of profit.
- Unusual options flow
- Large and unusual orders with sweep, split and block labels, detected spreads and a bullish or bearish tag; real time only on Live Flow.
- Greeks and IV tools
- Net Greeks for multi-leg trades, Greeks charted over time, per-expiration IV adjustment and IV history on paid plans.
- Congress and insider trades
- Reported trades by members of Congress and company insiders, included in Live Flow.
- Futures options
- CME futures such as /ES and /NQ in the builder and flow, always on 15-minute delayed data.
Pricing
| Plan | Price | What you get |
|---|---|---|
| Free | $0 | 15-minute delayed data and limited access to each feature |
| Live Tools | $39.99/mo or $419.99/yr | Real-time prices, chance of profit, net Greeks, IV history, saved strategy tracking, market events, private Discord |
| Live Flow | $99.99/mo or $999.99/yr | Everything in Live Tools plus real-time flow, saved filters, alerts, historical flow search, live news, congress and insider trades |
Both paid plans have a one-time 7-day free trial for new customers. No full or partial refunds; cancelling stops future payments. Live data is only for non-professional users; registered professionals get the other paid features without live data.
Free option: The strategy builder, optimizer and flow pages on 15-minute delayed OPRA data, with limited access to each feature. Saved trades can still be shared and tracked.
Checked September 25, 2026 on optionstrat.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- Fast, visual way to see how a multi-leg trade behaves before placing it
- American-style pricing model rather than Black-Scholes
- The optimizer suggests trades from a price target instead of starting from the chain
- Paid subscriptions work across web, iOS and Android
Limitations
- Free data is delayed 15 minutes, and futures data is always delayed 15 minutes even on paid plans
- The real-time flow feed requires the $99.99 Live Flow plan
- No refunds, full or partial
- Live data is not available to registered professionals
- Profit and loss figures are estimates; implied volatility is held constant unless you change it
Good fit for
- Options traders planning spreads, condors and calendars
- Beginners learning how strikes, time and volatility change a position
- Traders who want a strategy tool and a flow feed from one vendor
Look elsewhere if
- Traders who want to place trades from the same screen (use a broker platform)
- Traders who need historical backtests of options strategies (a dedicated backtester fits better)
Compare
Alternatives to OptionStrat
OptionStrat questions
Is OptionStrat free?
Yes, with 15-minute delayed data and limited access to each feature. Real-time data starts with Live Tools at $39.99 a month.
What is the difference between Live Tools and Live Flow?
Live Tools unlocks real-time data and the full strategy builder and optimizer. Live Flow adds the real-time unusual options flow, alerts, historical flow and news, and includes everything in Live Tools.
Is there a free trial?
New customers get a one-time 7-day free trial. OptionStrat does not give full or partial refunds after that.
Can I trade through OptionStrat?
No. It is for researching and planning trades; you place orders with your own broker.
Does OptionStrat support futures options?
Yes, CME futures such as /ES and /NQ, but futures data is always delayed by 15 minutes.
Written from OptionStrat's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: optionstrat.com, optionstrat.com/membership, optionstrat.com/features, optionstrat.com/faq.