We’re Launching The 1st Automated Trading Platform for Options

Today’s show is a massive announcement; we are officially announcing that we have set our launch dates for our new auto-trading platform. On today’s show, we’re going to answer some common questions that we’ve been getting about the new platform. We’re also going to start going through some of the features you will love about it.

We have all the information you need right now about the platform and how to use its new features on beta.optionalpha.com.

Timeline for New Platform Roll Out

  • We have a very clear timeline for how we are going to roll out the new platform. It is going to happen in a couple of stages.

September:

  • We have opened up the waitlist to the public. People who join the waitlist will get early access after ELITE Lifetime and PRO members and can shift their place in line forward by sharing the platform with their friends.

The Next 60-90 Days:

  • In the next 60 to 90 days, we’re going to start giving out BETA access. Elite Lifetime members will be granted early access in groups of 20 or so at a time. Then we’ll continue to scale up access quicker and quicker to successively larger groups.
  • While we are confident in our tech and have been building the platform for the last five years, by rolling out the BETA platform in stages to small subsets of ELITE Lifetime members, we can test the functionality of the platform, scale-up in a throttled way, and make final tweaks to it by incorporating feedback.

November 1st:

  • The next, most important date on our launch plan is November 1st. This is the date at which the price of ELITE Lifetime plan increases. Lifetime price goes up from $1,997 to $2,497. Then, on December 1st, ELITE Lifetime will no longer be available, ever, moving forward. There are zero exceptions to this policy. The platform is too valuable to offer it at a one time cost from thereon.

February 1st, 2021:

  • After December 1st, we start working towards our official public launch date, February 1st, 2020. When we launch publicly there will be an option to test out the platform under a free trial with the option to then upgrade to a paid monthly plan for access. ELITE level plans will be priced at $299/month or higher.

Why Our Platform is The Next Generation Platform

  • For the last 10 years, every brokerage platform required you to click to trade manually. With our platform, you can build an automated trading strategy and let it run inside your brokerage account. This changes the entire industry in a completely different direction.
  • You can’t watch 72 markets or monitor every single position, but your bots can. How many times have you missed an exit before? If you’ve missed it once, that one exit you could have gotten if you had a bot that was watching all the time might have saved you $100, $1,000, even $10,000. Once you see this technology, you can’t go back. This will be as revolutionary a technology breakthrough as Apple’s iPod or iPhone.

The Features Inside the New Platform

  • We built this entire platform from the ground up. It’s secure, flexible, and scalable.

No Code

  • You do not have to do any coding at all to develop your bots.

Risk Controls

  • It’s got all the risk controls that you would ever want: things like position limits, daily limits, and bot limits. You can set the bot and give it parameters to trade exactly the way you want it to.

Reoccurring Schedules, Date-Based Automations, and Instant Automations

  • All these bots run on different types of potential automations. You have your choice to use one or any of these. You can set infinite combinations of schedules to run your automations. These automations can happen as part of larger decision trees of automations that make up complex, automated, if/then trading strategies.
  • You could, say, check every Monday to see if a stock’s RSI is below 30. If it is, you set the bot to do some sort of trade. If the stock’s RSI is above 70, set it to do some other type of trade.
  • You can set date-based automations to run at a specific date in the future at a specific time. You can basically craft a set of decisions that you would make at that point in the future and let the bot take care of it.
  • You can choose to run an automation instantly, or you can actually build and add custom buttons that run automations right to your bot dashboard. Maybe you want an automation that, anytime it runs, it instantly closes all long call options, or all long put options, or any put option that is more than 50% profitable. Whatever you want to do, you can code it into a single, instant automation, and then run that out of sequence, off schedule.
  • Any time you get into a bot position and the bot makes a trade, you can run interference with that bot and manually close the position. You have total control.

Manual Trading

  • If you do still want to manually trade, you can do that, too. You can combine manual with automated trades.

Natural Language Recipes

  • For building automations, we initially used a bunch of different calculators. We decided not to make people do manual calculations because it actually feels like you’re coding at that point, and it’s supposed to be a no coding platform. We built simple recipes that use natural language to say what we all expect a decision to do within an automation. You simply go over to your automation criteria, and everything is set up in simple, natural language.
  • This gives this platform truly infinite options because you can group and combine, you can use and/or statements, you can use them individually, and then you can thread them however you want together.

Total Visibility

  • You can see everything your bot does every step of the way. You have what is called bot logs where you can see exactly what the bot is doing in every decision that it’s making.

The Ability for Bots to Manage Positions

  • This is done just like everything else, with no code – simple decisions and recipes and automations that work anytime you want them to run. You can tell the bot exactly how to manage every position in your portfolio.

The Ability to Clone and Template

  • You can take any bot that you’ve created, and you can save it as a template to reuse in the future.
  • You can also share your template (stripped of your personal information) with other people in the community, or share publicly in the community. The ability to click and clone an entire trading strategy and let it run automatically is groundbreaking in this industry.

All of This Applies to Stock Trading

  • If you want to build entire bots and strategies and just focus on stocks – and never trade options – you can do that as well.

We’ve Updated the Backtester

  • We have updated that data, functionality, and included the ability to test multiple portfolio allocations simulatenously.
  • With this feature, you can backtest trades and also test different allocations. You can do all the backtesting you want before you actually put your hard-earned money at work.

Notes for Templates.

  • When you’re cloning and building templates that you want to share, you can add detailed notes, so that if you did share it with somebody, you could give them a rundown of what the bot does, or what it’s meant to do.

Notifications for Account Activity

  • You can get notifications for all of your activity in your account.

Your FAQs Answered:

How do I join the waitlist?

  • Head over to beta.optionalpha.com, and click the button right at the top of the screen. This gets you into the waitlist where you can share it and refer people to increase your position on the list. Get to the front of the line by upgrading to ELITE Lifetime.

When will I get access? How do you choose who gets BETA access first?

  • Access will be rolled out to everyone in order of their position. ELITE Lifetime gets priority access, so they sit at the front of the line. Elite access will be randomly released to smaller groups, and then we’ll let all of the ELITE Lifetime in at some point. Pro members will be brought in next, and after that, we will start opening it up to those who are not pro or elite. This last phase will probably happen mid-to-late January.

Are there any commitments for joining the waitlist? Do I have to opt into anything?

  • No. You can join the waitlist at any time for free. You can choose to be part of the platform or not. We will let you know when a spot is open for you from the waitlist.

What happens after I sign up on the waitlist?

  • You’ll have the option to refer people onto the platform. You’ll get very pleasant, infrequent updates on where things are and what your position is on the waitlist. We’re going to be doing a lot of training and webinars over the next couple of months that show people how to use it, answer a lot of questions, demo the software, and get feedback on the software to continue to improve it.

How do you choose to get access to BETA first? How do I get early access?

  • Early BETA access is going to be granted to ELITE Lifetime members first. Once all the ELITE Lifetime members are in, we will start granting access to pro members who are not lifetime members. Pro members will get it, then everyone else on the waitlist will start getting access.

How much will the platform cost when it goes public? How much will a monthly subscription cost when it comes out?

  • We don’t have the exact pricing, but the higher levels of access will be multiple hundreds of dollars when it goes live. If you want to save money, it would be good to sign up for the ELITE Lifetime pricing before it stops being available on December 1. As a reminder, the price of ELITE Lifetime goes up on November 1st and is completely removed on December 1st.

Do I have to know how to code to use the platform?

  • You do not have to code or learn how to code to use our platform. Ever.

Can I auto-trade stocks and options?

  • You can auto-trade stocks and options on this platform. You can choose to just trade stocks. You can choose to just trade options. You can choose to do a combination of them. It’s not limited to just options or just stocks.

Can non-US traders take advantage of the platform?

  • Yes, you can still come in and create bots and run automations, but you cannot connect those bots unless your broker has the ability to connect to Option Alpha. If your broker allows non-US traders and you can connect to our platform, great. If your broker doesn’t allow non-US traders, you can still benefit from the platform by running back-tests, using the watchlist, using the technology, and the software. You can use the bots as your triggers and alerts for how you should make trades and let the bots run automations for you and give you notifications on when things should happen or when you should make trades. You can still learn and clone other bots and strategies, and interact in the community–you just can’t live trade yet. If your broker is not one of the brokers that we are launching with, the best way to integrate them with us is by asking them so that they have more incentive to adjust their APIs and do what it takes to integrate with us.

What brokers will be compatible with the platform?

  • We are going to be launching with TD Ameritrade. We have agreements with two additional brokers currently that we will be integrating with in the future. We will announce those other two brokers very soon. They are major ones, and we will try to announce who they are before we launch publicly, if possible.

Is Option Alpha now a brokerage, or a registered investment advisor?

  • No. We are a software-as-a-service company. You pay a monthly subscription fee to access the software, and the software allows you to do any trading that you want. We do not direct you. We don’t tell you what to trade, or how to trade it, you’re in total control.

How does Option Alpha make money on this?

  • You don’t deposit money with Option Alpha. We do not charge a commission on top of any of our trading. We have zero kickbacks from any broker for the number of trades that go through our platform. Our company has zero incentive to force you to trade more. You can trade as little or as much as you want on the Option Alpha platform.

How much control do I have over my trades?

  • You have total control. What the bot does, when it turns on, what it trades, how much it trades, the entry criteria, the specifics, the pricing, the strikes, the deltas, the expirations – all of that is under your control. We run the tech around it and will make sure that the tech, the automations, and the security around your account is airtight. If a bot is supposed to make a decision, it’s going to make a decision. If a trade is supposed to be placed, the bot is going to place that trade.

Thank You for Listening!

I’m humbled that you took the time out of your day to listen to our show, and I never take that for granted. If you have any tips, suggestions or comments about this episode or topics you’d like to hear me cover, just add your thoughts below in the comment section.

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About The Author

Kirk Du Plessis

Kirk founded Option Alpha in early 2007 and currently serves as the Head Trader. In 2018, Option Alpha hit the Inc. 500 list at #215 as one of the fastest growing private companies in the US. Formerly an Investment Banker in the Mergers and Acquisitions Group for Deutsche Bank in New York and REIT Analyst for BB&T Capital Markets in Washington D.C., he's a Full-time Options Trader and Real Estate Investor. He's been interviewed on dozens of investing websites/podcasts and he's been seen in Barron’s Magazine, SmartMoney, and various other financial publications. Kirk currently lives in Pennsylvania (USA) with his beautiful wife and three children.