Best Platforms for Options Trading

Options trading has become increasingly popular in recent years, as it offers investors the opportunity to speculate on the direction of a stock or other asset without actually owning it. This type of trading can be particularly useful for those who want to hedge their portfolio against potential market declines, or for those who want to take advantage of short-term price movements.

With options, it’s vital you choose a platform that offers a wide range of options, as well as top-notch trading tools. In this article, we’ll take a look at some of the best options trading platforms currently available on the market.

Charles Schwab

Charles Schwab is a well-known financial services company that offers a range of investment products and services, including options trading. Their options trading platform is user-friendly while offering a wide array of tools, resources for both beginner and experienced traders.

One of the standout features of Charles Schwab’s options trading platform is the option chain tool, which allows you to view the available options for a particular stock or ETF in real-time. You can filter the options based on expiration date, strike price, and other criteria, making it easy to find the right option for your strategy.

Charles Schwab also offers an options screener, which allows you to search for options based on specific criteria, such as implied volatility or probability of success. This is a useful tool for those who are looking to identify potential trade opportunities based on specific market conditions.

In addition to these tools, Charles Schwab also offers a range of educational resources for those who are new to options trading. These include webinars, articles, and other resources that can help you learn about different options strategies and how to use them effectively.

TD Ameritrade

TD Ameritrade is another popular options trading platform that offers a range of tools and resources for traders. Their platform is user-friendly and easy to navigate, making it a great choice for those who are new to options trading.

One of the standout features of TD Ameritrade’s options trading platform is the thinkorswim tool, which is a powerful trading platform that offers a range of advanced tools and features. This includes real-time streaming quotes, advanced charting tools, and customizable watch lists, among other things.

TD Ameritrade also offers a range of educational resources for those who are new to options trading. These include webinars, articles, and other resources that can help you learn about different options strategies and how to use them effectively.

E*TRADE

E*TRADE is another well-known financial services company that offers a range of investment products and services, including options trading. Their options trading platform is user-friendly and offers a range of tools and resources for traders.

One of the standout features of E*TRADE’s options trading platform is the options strategy builder, which allows you to create and test different options strategies in real-time. This is a useful tool for those who are looking to develop and refine their options trading strategies.

E*TRADE also offers a range of educational resources for those who are new to options trading. These include webinars, articles, and other resources that can help you learn about different options strategies and how to use them effectively.

Interactive Brokers

Interactive Brokers is a well-known financial services company that offers a range of investment products and services, including options trading. Their options trading platform is geared towards more experienced traders and offers a range of advanced tools and features.

One of the standout features of Interactive Brokers’ options trading platform is the option calculator, which allows you to calculate the potential profit or loss from buying or selling options. It allows users to input various parameters such as the underlying security price, option strike price, expiration date, and options premium. The calculator then calculates the potential profit or loss based on the inputs provided.

Best Overall Options Trading Platform

The answer to which one of the four platforms listed is the best will all basically come down to personal preference. We recommend trying each one out for yourself because you won’t truly know which one is best for you until you use it for yourself.

Every platform listed provides you with the interface and tools necessary to be successful with trading options, it’s up to you to figure out which one is easiest to use for your personal preference.