What's New in Option Alpha

May 2024

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Trade Ideas 2.0 with expected value and full automation capabilities, improved mobile experience, Top Bot Template leaderboard, and more!


  • Trade Ideas 2.0 with Expected Value and updated Alpha calculation
  • Generate a bot to auto-trade Trade Ideas
  • New automation actions: Open Trade Idea and Find Trade Idea
  • Ability to move positions from one bot to another
  • Added to EV (expected value) to Trade Ideas and updated Alpha calculation (EV / Max Loss)
  • New Exit Options for EV and Alpha
  • Reward/Risk filter added to Trade Ideas
  • Open Position window now displays probabilities, Alpha, EV, and DTE
  • Added notes to bot Settings page
  • Direct navigation for Community alerts to replies and upvotes
  • Added EV, Alpha, Prob of profit, Probability of max profit, Probability of max loss, and Reward/risk to position and opportunity decision recipes
  • New symbol selector for Trade Ideas that includes the total number of available ideas per symbol
  • Additional help links and tooltips throughout the app
  • Top Bot Templates leaderboard
  • Top Strategies section that displays the top credit spreads of the last 90 days.
  • Waitlist for 5 minute Scan intervals
  • Option Alpha Referral Program for subscribers


  • Trade Ideas that cross over earnings are now excluded by default
  • Significantly improved mobile experience in portrait mode
  • Removed IV Rank column from Trade Ideas
  • Removed Position criteria check from Long Equity strategy 
  • Opportunity leg ordering to match the Open Position action
  • Copied automations can be saved without editing the name field


  • PML column not filtering trades with less than 10%
  • New account passwords not working with certain special characters 
  • Error when using Open Action Bid/Ask check with Long Equity strategy
  • Duplicate opportunities populating to Recent section inside Open Position 
  • Error generated when using Long Equity position criteria checks
  • OA logo partially cut off when left navigation was collapsed on smaller screens
  • Inability to delete backtests when using the Safari browser
  • Log not opening for ETF symbols referencing earnings criteria
Learn more about these updates here: Option Alpha July 2023 Release
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