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Option Circle Review – How Does This Trading Platform Compare?

By Dave

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Option Circle Review

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Option Circle Review

  • Ease of use
  • Quality:
  • Value
3.5

Summary

Option Circle is a platform designed for social trading and options analysis. With this platform, traders have access to proposed options strategies, odd options tracking, LEAPS options analysis, and more. Additionally, users of Option Circle can initiate discussions about particular tickers and view the trades that other users have made. Read our Option Circle review to learn more about this platform before you dive in.

Pros

  • Screen tickers for popular technical patterns
  • Tracks options order flow and unusual option activity
  • LEAPS option analysis
  • Follow option traders and see their active trades
  • Two-week free trial

Cons

  • Expensive and following Platinum Club traders costs extra
  • Limited trade planning and execution tools

About Option Circle

Option Circle is an options analysis and social trading platform with a lot of tools on offer. Traders will find suggested options strategies, unusual options tracking, LEAPS options analysis, and more. On top of that, Option Circle allows users to see what trades other users have placed and to start conversations about specific tickers.

With so many features available, can Option Circle help you be more successful trading options? Our Option Circle review will cover everything this platform can do.

Option Circle - Homepage

Option Circle Pricing Options

Option Circle offers three subscription plans: Starter, Option Trader, and Option Trader Pro.

Option Circle - Pricing

The Starter plan is free and offers very limited access to Option Circle. Data is delayed and you can only view the most active options based on trading volume.

The Option Trader plan costs $99.99 per month or $999 per year. It includes real-time options data, an options order flow dashboard, LEAPS option analysis, and options screening tools.

The Option Trader Pro plan costs $199.99 per month or $1999.99 per year. It adds AI-based options strategies, earnings-related options plays, and unusual options analysis.

At the time of writing, all Option Circle plans were 50% off. You can try out the Option Trader or Option Trader Pro plan free for two weeks.

Option Circle also enables you to follow what it calls Platinum Club traders. Each trader sets their own subscription prices, which can be up to $1,000 per year.

Option Circle Features

Option Trade Ideas

Option Circle provides several dashboards to help you find options ideas and plan out your trades.

First, the technical analysis dashboard serves as an indicators-based screener. You can filter tickers based on whether they are displaying popular technical patterns like bullish or bearish engulfings, MACD crosses with high RSI, and PSAR switching with rising or falling momentum. This is an outstanding technical screener with enough customizability to quickly find tickers that the setups you care about.

Option Circle - Technical Analysis

A volatility dashboard highlights tickers with varying levels of volatility. Filters include low implied volatility, steep volatility skew, high implied volatility, 90-day at-the-money options, and tickers that have been halted or short sale restricted. For each ticker, you can see the distribution of bullish, bearish, and neutral trading as well as the implied volatility change.

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Option Circle - Volatility

There are several dashboards focused on the institutional option trading activity. An option order flow dashboard alerts you to large options trades that likely reflect institutional activity. An unusual options heatmap shows tickers that have contracts with trading volume greater than open interest. Another dashboard highlights option sweeps and block trades.

Option Circle - Option Order Flow

Other dashboards to help you find option trade ideas include a new feed, a social sentiment feed, and a heatmap of the most active options based on option trading volume. There’s also a heatmap showing tickers with upcoming earnings. The heatmap is designed to visualize options trading volume and sentiment.

LEAPS Option Analysis

One unique dashboard within Option Circle involves LEAPS analysis. LEAPS are long-term options with expiration dates up to 3 years in the future. Option Circle enables you to filter tickers based on how far off their 52-week high they are, with an additional category for tickers that are breaking out. You can easily see whether option trading activity is bullish, bearish, or neutral along with the implied volatility for each ticker.

Option Circle - LEAPS

Option Circle also has a handy calculator that lets you determine the breakeven price for long-dated LEAPS call options. This is helpful if you’re considering investing in a ticker through LEAPS options as opposed to holding the underlying stock.

AI-based Options Strategies

Option Circle offers three algorithmic option trading robots that you can follow. One is designed for long-term option investing in the NASDAQ-100 index (QQQ). The second is designed to trade options for individual tickers based on a moving average crossover strategy. The third uses automated trendline analysis to trade options for individual tickers.

Option Circle - AI Bots

These bots were just launched in the past few weeks, so it’s difficult to fairly evaluate their performance.

Social Option Trading

What makes Option Circle unique from other option trading platforms is that it weaves social trading features into the platform. If you click on any ticker, you can view and join a discussion among traders about that ticker. Even better, you can see all public trades on Option Circle that involve that ticker. This includes which trader made the trade, what strategy label they applied, and what percentage gain/loss they currently have on the trade.

Option Circle - Social Trading

If you find successful traders, you can follow them on Option Circle. You can view all of their open and past option trades and their total return. A dashboard shows all new trades from traders you follow.

Option Circle divides traders into four Clubs: Bronze, Silver, Gold, and Platinum. Any traders can join the Bronze, Silver, and Gold Clubs, but traders have to apply to reach the Platinum Club and only highly successful traders are accepted. Platinum Club traders can require a subscription to view their trades and their portfolios are designed to be copied.

The current most profitable Platinum Club trader on Option Circle has a 65% return and the subscription costs $399 per year. Interestingly, many non-Platinum Club traders – who are free to follow – have higher returns. For example, one Silver Club trader has a return of nearly 600% after dozens of trades.

Option Circle Platform Differentiators

Option Circle is a unique options trading platform that caters to a wide variety of traders. It’s not exactly a platform for monitoring unusual options activity, like Unusual Whales, or an options strategy planning tool, like OptionSamurai. Instead, it includes elements of both of these platforms while offering many different ways to find tickers to trade. Option Circle is a little thin when it comes to trade planning tools, but it’s potentially quite helpful for finding option trade ideas.

The other thing that stands out about Option Circle is its integration of social features for options trading. The social features weren’t as well integrated into the platform as we expected, which is likely in part because you have to pay extra to follow the best traders. However, the ability to follow successful options traders can be a powerful for traders who want assistance developing their own strategy or trade ideas.

What Type of Trader is Option Circle Best For?

Option Circle is best for options traders who want a wide range of tools for finding potential trades. With Option Circle, you can keep track of what institutional traders are doing, monitor technical setups, stay on top of market news, and even copy other traders’ best ideas. Option Circle has analysis tools for both short-term options and LEAPS options, making it suitable for investors who want to use options as part of longer-term hedging strategies.

The breadth of tools within Option Circle may be somewhat overwhelming for beginner options traders. The price of the platform is also high enough that traders should have a significant amount of capital to deploy in order to make an Option Circle subscription worthwhile.

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Dave

Dave has been a part-time day trader and swing trader since 2011 when he first became obsessed with the markets. He focuses primarily on technical setups and will hold positions anywhere from a few minutes to a few days. Over his trading career, Dave has tried numerous day trading products, brokers, services, and courses. He continues to test and review new day trading services to this day.

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