OptionStrat

Multi-Tool Platform — Freemium

Options profit calculator and unusual options flow scanner that detects multi-leg trades

Classifies spreads and condors in the flow feed as bullish, bearish, neutral or directional

Overview

OptionStrat is a multi-tool platform built around an options profit calculator and a live unusual options flow scanner, aimed at traders who want to see a trade's payoff before they place it. This OptionStrat review breaks down what the tools cover, where the free tier stops short, and who actually needs the paid flow. The strategy builder charts profit and loss for more than 50 preset option strategies, and the optimizer scans thousands of possible trades against a target price and date to find setups that fit.

The flow feed is the real differentiator. It detects spreads, condors, and other multi-leg trades that simpler scanners miss entirely, then labels each one as bullish, bearish, neutral, or directional so the read is immediate instead of guesswork. Data comes from OPRA, the same feed institutional and broker platforms pull from, not a secondhand approximation. The free tier is genuinely usable, with the starting price listed as Free: it shows flow on a 15-minute delay with limited access to the rest of the toolset, which is more than most competitors give away for nothing.

Real-time access costs extra, and it adds up. Live Tools runs $39.99 a month for real-time prices, and Live Flow runs $99.99 a month on top of that for real-time flow, saved filters, alerts, and congressional and insider trade tracking. Historical flow search is locked behind that top tier only, so anyone who wants to research past flow patterns has to pay for the full package. Both paid tiers include a 7-day trial before the charge kicks in.

Coverage is US stocks only, built for day trading and swing trading rather than long-term investing, and pitched at an intermediate skill level who already understands what a condor or a directional spread is. There's no API access, but a mobile app is included for checking flow away from the desk. This fits an options trader who wants calculator precision plus flow context in one place; a total beginner or a buy-and-hold investor won't get much use from either tool.

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