ORATS
orats.com
Options research with a backtester drawing on 300 million+ precomputed backtests, volatility scanners and an options data API with history to 2007.
What it is
ORATS (Option Research & Technology Services) was founded by former market maker Matt Amberson and builds its tools on its own smoothed volatility surface, theoretical values and hundreds of option indicators. The Trading Tools subscription bundles an options backtester that searches more than 300 million precomputed backtests on data back to 2007, an intraday backtester on one-minute data since late 2020, option and stock scanners, a strategy optimizer, trade ideas, a trade builder, an AI agent called Otto, and order entry through Interactive Brokers, TradeStation or Tradier.
There are two ways to pay for the tools: the Individual license at $99 a month for personal use, and the Professional license at $199 per user a month for anyone trading on behalf of a firm or clients or sharing access. Both include the same features and 2,000 custom backtests a month.
The Data API is a separate product, not included in the tools subscription. It runs from $199 a month for near end-of-day data with history to 2007 up to $899 a month for every endpoint including one-minute intraday history. ORATS does not offer free trials; instead, a tools subscription cancelled within 24 hours of sign-up is refunded in full, and historical data samples are available through ORATS University.
Key features
- Options backtester
- Browse more than 300 million precomputed backtests across 5,000+ symbols on data since 2007, plus 2,000 custom backtests a month.
- Intraday backtester
- Backtests strategies on one-minute options data going back to October 2020.
- Option and stock scanners
- Rank thousands of trades by volatility metrics; the stock scanner covers 5,000+ stocks with 700+ option indicators and 22 fundamental ones.
- Strategy optimizer and trade ideas
- Tunes strategies across 98 proprietary indicators and surfaces ideas drawn from the backtest database.
- Ticker analysis and trade builder
- Review a full options chain and chart future expirations with earnings and volatility overlays.
- Broker trading
- Place orders and set alerts through connected Interactive Brokers, TradeStation or Tradier accounts.
- Data API
- REST access to delayed, live and historical options data with SMV greeks and implied volatility; sold separately in four tiers.
Pricing
| Plan | Price | What you get |
|---|---|---|
| Trading Tools Individual | $99/mo | All tools, real-time data, 2,000 custom backtests a month, broker trading |
| Trading Tools Professional | $199/user/mo | Same tools, licensed for firm or client use and shared access |
| Delayed Data API | $199/mo | 20,000 requests a month, near end-of-day data, history to 2007 |
| Live Data API | $299/mo | 100,000 requests a month, real-time strike quotes; live data agreements required |
| Live Intraday API | $599/mo | 1,000,000 requests a month, one-minute chain history since August 2020 |
| All-In API | $899/mo | Every endpoint plus the four Tools APIs (scanner, backtest finder, intraday backtester, time and sales) |
No free trials. Trading Tools subscriptions cancelled within 24 hours of sign-up get an automatic full refund, and cancellation is self-service. Students get up to 50% off the tools, excluding live data and broker connections. Tools APIs can be added individually to lower API plans ($99 to $299 each). Historical data can also be bought as files or on a hard drive.
Checked September 25, 2026 on orats.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- A very large precomputed backtest database on options history back to 2007
- Volatility-focused scanners built on ORATS's own smoothed surface and indicators
- Published, self-service pricing for both the tools and the API
- Orders can be placed through Interactive Brokers, TradeStation or Tradier from the same screen
Limitations
- No free trial; the only safety net is a full refund if you cancel within 24 hours
- The Data API is a separate subscription starting at $199 a month and is not included with the tools
- Anyone using it for a firm, clients or shared access must pay the $199 per-user Professional license
- Live data through the API requires signing live data agreements, and the cheapest API tier is near end-of-day only
Good fit for
- Options traders who want to test strategies on historical data before trading them
- Volatility and premium sellers who screen by IV, skew and earnings effects
- Developers and quants who need historical greeks and implied volatility through an API
Look elsewhere if
- Beginners who only need a simple options chain or payoff calculator
- Traders who want an options flow feed of large orders; ORATS is research, not flow
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ORATS questions
How much does ORATS cost?
The Trading Tools Individual license is $99 a month and the Professional license $199 per user a month. The Data API is separate and starts at $199 a month.
Does ORATS have a free trial?
No. ORATS does not offer free trials, but a tools subscription cancelled within 24 hours of sign-up is refunded in full.
How far back does ORATS options data go?
End-of-day options data goes back to 2007 and one-minute intraday data back to August 2020.
Is the ORATS API included with the trading tools?
No. The Data API is a separate subscription, from $199 a month for delayed data to $899 a month for all endpoints.
Which brokers work with ORATS?
Interactive Brokers, TradeStation and Tradier can be connected for order placement and alerts.
Written from ORATS's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: orats.com, orats.com/trading-tools, orats.com/data-api.