If you need to diversify your investment portfolio, options provide a suitable alternative to conventional stocks and bonds. I hope the alarmists haven’t dissuade you from getting started by claiming that options trading is a preserve of advanced investors. Truth be told, advisory alerts for stock option beginners can set you on course and could pave the way for consistent returns.
Options trading advisory services help streamline the process, allowing you to get in on the action quickly. Similarly, alert services dial things up by providing ideas or recommendations you can use to engage in options trading effectively.
Some options services may offer a less-than-ideal experience, and finding a credible service provider who’s forthright about related costs and available offers can be a tough ask. Fortunately, we’ve prepared a list of some of the best trading alert services to help you in your investment journey. Here’s an in-depth look at what each option offers:
- The Trading Analyst
The Trading Analyst strikes a balance between cost and features. For $787 a year, you get to enjoy real-time trading alerts via SMS, allowing you to make winning trades as would an experienced investor. A proven history of returns is a bonus, as are the resourceful materials the service offers to new and upcoming options traders. Users of the platform also receive frequent alerts.
You can leverage the service’s risk management strategy to maximize your gains or cut your losses through membership. Besides, by adopting the firm’s tried-and-true strategy, you can make consistent gains instead of quick and often unsustainable wins.
Unfortunately, The Trading Analyst doesn’t offer in-depth research reports that an advanced trader may rely upon to trade. As such, the service is ideal for the investor who doesn’t want to fuss over research or the high cost of hiring a portfolio manager. Thus, if you’re after a cost-effective service that can reduce losing trades and lead you toward consistent profitability, this service is a preferred choice.
- Sky View Trading
Sky View’s services offer educational content, making it a perfect fit for newbies in options trading. An options trading course is also available to help you learn about options. The course allows you to learn at your preferred pace while tracking your progress. Learning the ropes is a great way to ensure you eventually trade options as you should and could keep you from making costly investment errors.
This firm sends real-time trade alerts via email or to your phone. You can make quick yet informed investment decisions by acting on such recommendations. In short, you don’t rely on guesswork to make the right options trades.
The firm also offers a chat room where you interact with like-minded individuals. Such collaboration takes the edge off the learning process by letting you network with traders who are after similar goals. Sky View’s main downside is its high subscription cost for its service, with the elite plan likely to set you back $199 a month. The alert service goes for $99 a month- a dear price for one feature!
- Motley Fool Options
As a trading advisory service, Motley Fool Options has been around the block since 2009 and is among the most seasoned names in the finance world. Motley Fool Options works best for investors with a long-term approach to trading.
Expect a few monthly reports with this option, which might not be ideal if your goal is to make more trades. But, the alerts offer in-depth info, including the steps you need to take to make a profitable trade and the alternative strategies you can consider. All the same, the Fool’s options yield profits at least 80% of the time, which says something about the service’s track record.
Motley Fool’s comprehensive educational content is perfect for learners who’re still cutting their teeth in options trading. The various learning resources cover multiple trading strategies and provide an inside scoop on how to go about investing in options.
Motley Fool’s main flaw is its $999 yearly subscription, which isn’t pocket change for an investor with a small portfolio. But, given its solid recorded performance and educational material, it could be a strong contender for the best advisory service.
All things considered, each option advisory service provider has its pros and cons, and the ideal pick for one investor might not work for another. The trick is to find a service that best addresses your investment needs. If you are new to the game and need valuable learning resources with frequent advisory alerts, Sky View Trading would be an ideal pick of the bunch. If you want to learn more about how to measure the performance and volatility of an investment, check out this article about alpha and beta in finance.