What’s New in Option Alpha: February 2026

Trade analyzer received a major update

Track your trading results with new visuals, monthly results breakdown, weekday and hourly tracking, new time range selector, new filters (DTE, day of week and hour of day), improved tooltips, easier navigation and more.

Analyze trades by the day of week and hour of day they were opened:

New range selector:

More details in hover tooltips:

Updated Gamma Exposure and expiration insights view

Open interest and daily volume have "Call vs Put" view, summary totals and put/call ratio for the selected range:

Absolute gamma is now color coded to show the distribution of call vs put gamma:

Added ability to search the bot decision list

Max Drawdown Period popup added to bot dashboard

Also added the option to toggle between P/L or capital with drawdown percentages to both the backtester and bots.

New backtest entry filters for expected move and daily trading range

New bot decision to check the trading range for a symbol since the previous close or today's open

Useful for checking how volatile a symbol has been during the current trading session.

New bot decisions to check the size of expected move for a particular expiration

New bot decision to check the bot's daily position counter

New bot decisions to check price change since x minutes ago (as $ or %)

New bot decision to check if the market was open x minutes ago

New bot decision to compare an opportunity value with a position value (w/ math)

New "box price" value for position decisions

The "box price" for a position is the price needed to "box" the position in a for guaranteed break even. For example, if a $5 wide short put spread is opened for a $2 credit it's "box price" is $3. You can use the recipe above to test if an opportunity would box an existing position to create a no risk trade.

New selections for max put/call open interest in GEX strike options

Added button to "Open similar position" to closed positions

*This button only appears when a closed position expiration is in the future

Other updates and bug fixes worth mentioning:

• Fixed issue with menus in compare backtests screen that caused them to work inconsistently while a backtest is running
• Position leg lookup by bid/ask/mid price now matches the strike closest to the current price consistently
• Fixed image uploader in the community to only scale image sizes when needed (goodbye giant images!)
• Fixed "Intro to OA" not ever checked in the "Getting Started" checklist
• Added ability to sort comments in community topics
• Improved handling of "Unexpected token" messages when broker connections return an invalid response
• Added theta column as a custom column option in the positions list
• Updated IV Rank in the backtester to use the same data source as bots so previous "close" value lines up more closely
• Fixed disappearing watchlist issue when an included ticker is delisted  
• Improved error detection when updating community profile image