Use Top Strategies to Find Option Trading Setups

As options traders, we have a limitless combination of opportunities. Top Strategies makes it easier than ever to find the best-performing setups. With Top Strategies, you can now tap into the collective knowledge of the Option Alpha community of traders if you’re not sure what position settings to use. 

The Top Strategies database ranks options trading strategy setups based on historical data over the last 90 days. The rankings provide insights into the historical performance of specific options trading setups used by other traders within the community. 

The performance statistics provided for the "Top Strategies" are for informational purposes only and should not be considered investment advice. As a non-registered investment advisor or broker, we do not provide personalized investment recommendations or endorse any specific trading strategies.

Top Strategies displays the position settings (underlying symbol, leg deltas, days to expiration, etc) and consolidated summary stats for the top-performing credit spread trades made in the Option Alpha platform over the past 90 days. The database is updated continually every day, so the rankings provide live insights into the historical performance of specific setups used by other traders within the community. 

In this ROKU example below, Option Alpha traders have entered 5 iron condor trades (live and paper combined) that were 2 days from expiration at trade entry with the corresponding deltas show. When opening the trade, the average probabilities and reward/risk shown are calculated at trade entry.

The 5 trades in this example had a 100% win rate; however, early trade management may apply, such as exiting the trade for a profit before expiration. The average Return on Risk for the closed trades was 117% (i.e. the average max profit vs average max loss).

Now we can leverage the power of our trading community because Trade Ideas lets us search through thousands of trade setups to filter potential opportunities and find positions.

For example, you can focus on neutral SPY trades that expire between 5 and 30 days and have a probability of profit over 60%. You can even filter strategies by the number of trades inside Option Alpha and sort between all trades or only live trades. 

This example only shows the top strategies for positions with more than 100 live trades in the last 90 days. This allows us to focus on strategies that have had a high number of occurrences.

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To place a trade, simply click on the strategy, and all the position details automatically populate with the corresponding values. Remember, Top Strategies displays the average metrics for when each trade was opened, so it is important to compare the live probabilities and pricing relative to the Top Strategies data.

You can view and modify the new position’s strategy type, underlying symbol, leg deltas, days to expiration, and probabilities. The legs will set to the closest delta value from the Top Strategy page.

That’s how easy it is to replicate a setup that has worked well for our fellow traders!

Our goal is to give you all the data we possibly can to help inform your decisions. As Option Alpha traders, we can now gain insight from the Community’s trading. As we trade more, the database grows and learns, so we’re always evolving and tracking what is successful as markets change.