Options trading has gained significant popularity among retail and institutional investors alike. With its potential for high returns, risk management strategies, and portfolio diversification, options trading can be a powerful tool—if you have the right resources. For those looking to start their options trading journey, these resources will assist you in learning and understanding how options trading works.
Whether you are a beginner looking to learn the basics or an experienced trader aiming to refine your strategies, leveraging the best available resources is crucial. Here’s a comprehensive guide to some of the best US options trading resources available.
Educational platforms and courses
Australian Securities Exchange (ASX)
The ASX provides a wealth of articles and papers related to options trading. They also offer an online course and options trading game to test your options skillset.
Investopedia Options Trading Guide
One of the most trusted financial education platforms, Investopedia provides free and in-depth articles, tutorials, and simulations on options trading. Their options trading guide is an excellent starting point for beginners.
The Options Industry Council (OIC)
The OIC, an industry cooperative, offers free educational resources, including webinars, courses, and a vast knowledge centre covering everything from basic options concepts to advanced trading strategies. This is a good resource for those beginning their options trading and developing their understanding.
Tiger Brokers: Tiger Trade platform
Tiger Brokers' platform Tiger Trade holds a wealth of knowledge on resources for options trading (like this blog series). Tiger Academy, which users have access to upon signing up to the platform, has a number of videos to familiarise investors with what options trading is.
Trading options on Tiger Trade starts from as little as USD 3 to buy or sell up to 4 contracts per order and USD 0.75 for every contract after that. However, additional regulatory fees do apply, so they will need to be taken into account.
Options Strategist by McMillan Analysis Corp
Founded in 1990 by a professional trader and best-selling author Lawrence McMillan, Options Strategist offers educational resources such as webinars and articles to assist with learning about options trading.
Options trading tools and screeners
Tiger Trade
Tiger Trade features a built-in options calculator on its app to assist investors in calculating the theoretical price of an option in a given implied volatility and at a specific future time when the stock price is at a certain level. The platform also boasts a free demo account allowing investors to practice their strategies and skills without risk to real capital.
Source: Tiger Trade app, Apple (APPL) options trading on the demo account, 21/02/25
Options Profit Calculator
The Options Profit Calculator is a free online tool that helps traders calculate potential profits and losses based on different options strategies. It’s a great resource for planning trades and understanding potential outcomes.
OptionStrat
OptionStrat is a user-friendly visual tool that allows traders to analyse and optimise different options strategies with real-time data. This tool provides you with a free trial. However, you will need to purchase a membership to use it after the trial has ended.
LiveVol (Cboe)
LiveVol, owned by Cboe Global Markets, provides advanced options analytics and market data for professional traders and institutional investors. This software also comes with a free trial, however a subscription is required.
Image by Freepik, www.freepik.com
News and market analysis
Tiger Trade
Get 24/7 stock market news for free and access to a global community where you can share thoughts and opinions with other traders and investors. Tiger Trade also offers its TigerGPT^ feature, an AI assistant that assists in finding company reports, getting quick financial summaries and understanding market fluctuations, allowing you to stay informed and have information provided in the palm of your hand.
The Options Insider
This website offers daily options market analysis, educational articles, and podcasts covering the latest options trading trends. There is a monthly subscription fee for using this website.
Seeking Alpha Options Insights
Seeking Alpha provides in-depth market analysis, stock recommendations, and options insights from a community of financial experts and analysts.
Bloomberg & CNBC
For real-time market updates, economic news, and expert opinions, financial news platforms like Bloomberg and CNBC are essential resources for traders.
Trading communities and forums
Tiger Trade -Tiger Community
Tiger Trade's global community allows users to interact with one another and share ideas and strategies. The community feature is built into the platform and is accessible to all users of the app.
Reddit r/options
A vibrant community of options traders discussing strategies, trade ideas, and market news. This subreddit can be a valuable resource for learning from real traders’ experiences.
Elite Trader
Elite Trader is an active forum where professional traders discuss options strategies, market movements, and trading psychology.
StockTwits
A social media platform tailored for traders, StockTwits allows users to follow options market trends and interact with other traders in real-time.
Options trading can be both rewarding and complex. With the right educational materials, trading platforms, analytical tools, and community support, traders can make informed decisions and discover new investment opportunities. Whether you are just starting or looking to refine your existing strategies, these resources provide valuable insights and tools to help you navigate the options market effectively.
Visit our Options Trading page on the website to explore more opportunities and tools to help assist you on your trading journey. Join Tiger Trade today and if you open and fund your account, you'll get four $0 brokerage monthly trades on ASX US stocks or ETFs or US options.*
Happy trading!
^TigerGPT is provided as a research tool and the accuracy of information generated is not guaranteed. It should not be deemed as investment advice nor relied upon to make any financial or investment decision.
*New clients & unfunded existing clients only. Only min. brokerage waived for 4 ASX, US stocks, or ETFs or options trades. Third-party fees and other fees still apply. See T&Cs for details.
Capital at risk. Options trading carries a high level of risk and may not be suitable for all investors. You should only trade with money you can afford to lose. See FSG, PDS, TMD and T&Cs via our website before trading. Information provided may contain general advice without taking into account your objectives, financial situations or needs. Past performance is no guarantee of future results. Graphics and charts are for illustrative purposes only. Tiger Brokers (AU) Pty Limited. ABN 12 007 268 386 AFSL 300767
