Option Alpha
Options trading automation platform with visual bot builder, backtesting, SmartPricing, and extensive free education for systematic options sellers.
Quick Facts
- Starting Price
- Free
- Free Tier
- Yes
- Founded
- 2015
- Company
- Option Alpha LLC
Option Alpha Overview
Option Alpha is a unique options trading platform focused on automating options selling strategies through a visual, no-code bot builder. Founded by Kirk Du Plessis, the platform has evolved from a popular options education site into a comprehensive automation platform that helps traders build, backtest, and deploy mechanical options strategies.
The platform's standout feature is the Autotrading Bot Builder, which lets traders create automated options strategies using a visual flowchart interface — no coding required. Traders can set entry criteria (Delta, DTE, IV Rank), position sizing, adjustment rules, and exit criteria, then backtest the strategy against historical data before deploying it live through connected broker accounts.
Option Alpha includes SmartPricing (algorithmic order management that works limit orders between bid/ask), a comprehensive position management dashboard, and one of the largest free options education libraries in the industry with over 200 video courses. The platform connects to major brokers including Interactive Brokers and Tradier for live automated execution. The free tier provides education and basic tools, while the Pro plan ($99/mo) unlocks automation, backtesting, and SmartPricing.
Option Alpha Pricing
Free
- ✓ 200+ educational videos
- ✓ Basic position tracking
- ✓ Community access
- ✓ Paper trading
Starter
$29.00/mo billed yearly
- ✓ 1 automation bot
- ✓ SmartPricing
- ✓ Position management
- ✓ Basic backtesting
Pro
$79.00/mo billed yearly
- ✓ Unlimited bots
- ✓ Advanced backtesting
- ✓ SmartPricing
- ✓ Priority support
- ✓ Multi-broker connections
Features
Pros & Cons
Pros
- + No-code visual bot builder for options automation
- + Extensive free education library (200+ videos)
- + SmartPricing improves fill quality
- + Backtesting with historical options data
- + Active and helpful community
Cons
- - Focused exclusively on options selling strategies
- - Pro plan at $99/mo is a significant cost
- - Limited broker integrations (IB and Tradier primarily)
- - Backtesting data may not capture all market conditions
- - Not suitable for directional or buying strategies
Rating Breakdown
Overall Rating
Key Takeaways
- ✓ No-code visual bot builder for options automation
- ✓ Extensive free education library (200+ videos)
- ✓ SmartPricing improves fill quality
- ✓ Backtesting with historical options data
- ✓ Active and helpful community
- ★ Rated 4.2/5 — best for options sellers, systematic traders, options beginners
- $ Free tier available
Summary
Options trading automation platform with visual bot builder, backtesting, SmartPricing, and extensive free education for systematic options sellers. Option Alpha offers a free tier, with paid plans from $39/month. Best suited for options sellers, systematic traders, and options beginners.
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