Every soldier who is going out to the war should be properly armed. Likewise, if you are planning to get into financial markets, you need to be equipped with relevant information to maximize your gain and stay away from losses.
Option Strategies is a handy financial app that’s been designed specifically for options traders to use on their mobile device.
In fact, it’s one of the most useful option trading apps available. You will be able to get updated information about option prices right into your mobile phones along with analysis and save options.
Option Strategies has been designed to make the life easy for option traders. It has the ability to help users view option chain prices, volume, historical volatility, ETF price, underlying stock price, theoretical price, vega, rho, gamma, delta and implied volatility.
Users will also be able to save ETFs for quick viewing and frequently viewed stocks. Its design is a bit spartan so a more knowledgeable and experienced options trader may feel more comfortable with it than someone who is just getting started and hoping for an easy tutorial.
The emphasis is on getting traders the information they need and this has not been wrapped in a user friendly platform, so amateur traders may find it a difficult task to find what they want.
Option Strategies offers a set of unique features to the users. You will be able to have a look at the underlying stocks through charts and then analyze potential option strategies accordingly.
You will also be able to look for ETFs and stocks that are being traded on major stock exchanges. Then you can simply include option positions based on the strikes listed and months.
All the market prices that are related to the chosen options and underlying stocks will be displayed. Moreover, people who use Option Strategies can get theoretical option prices along with cash layout.
Option Strategies offers some useful features for those who are in, or planning to enter, the world of option trading. For instance, you will be able to learn about option strategies with the help of built in option strategy library. It consists of 26 different option strategies, which are explained in detail. Users who take their time and go through these concepts will be able to enhance their knowledge about options trading in a convenient manner.
You will also be able to get a better insight of gains and losses along with time as a function of saved position. Then you can analyze the position and take necessary measures accordingly. However, expired options will not be included in the gain loss calculation.
Option Strategies is one of the best tools available out there for the option traders. You can easily get to know about theoretical prices, volatility, quotes and all the Greek letters that are related to options trading.
It also has a unique library with in-depth explanations of 26 different trading options.
At the end of the day even though Option Strategies does not have a user friendly interface, it provides a wealth of useful information and features in the app. Therefore, if your serious about options trading you should check it out.
Option Strategies requires Android 4.0 and up. A small expedite fee was paid to speed up the publication of this review.
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What do YOU think? We’d love to hear your comments, try it and let us know!