Options trading software is essential for anyone serious about trading volatility—whether you're selling premium, managing multi-leg spreads, or hunting for directional swings. The best platforms help you build, analyze, and execute trades. But here’s the catch: execution platforms don’t tell you what’s worth trading.

At its best, options trading software does three things well: it makes complex risk visible, it reduces friction between idea and execution, and it helps traders avoid costly mistakes before capital is deployed. Payoff diagrams, Greeks, probability modeling, and real-time chains aren’t “advanced features” anymore—they’re table stakes.

The real difference between platforms isn’t who has the most buttons. It’s how well the software supports decision-making under uncertainty, especially when markets move fast and option pricing changes by the minute. That’s why serious options traders care less about flashy interfaces and more about tools that keep them disciplined, informed, and consistent across different market conditions.

‍

What Is Options Trading Software?

Options trading software refers to any platform that allows you to:

• Analyze options chains and volatility metrics
  
  
• Build and simulate complex trade setups
  
  
• Backtest strategies
  
  
• Place orders through broker integration
  
  
• Set alerts on prices, Greeks, or technical signals
  
  

But none of these tell you why a stock might be about to move. That’s where pairing with LevelFields, which monitors real-time corporate catalysts, gives you the edge.

‍

What to Look for in an Options Platform

• Strategy modeling: Can you easily visualize spreads, break-even points, and payoff curves?
  
  
• Backtesting: Does it show how strategies performed historically?
  
  
•  Options chain depth: Do you get real-time Greeks, IV, and open interest?
  
  
•  Execution + speed: Can you actually route trades through the software?
  
  
• Alerting tools: Can you set conditional triggers for setups?
  
  
•  Catalyst pairing: Can you match these tools with real-time event data from LevelFields?
  
  

‍

Why Pair LevelFields With Your Options Platform?

‍

Options traders don’t need more tickers—they need better reasons to trade.
‍

LevelFields is not a brokerage or scanner—it’s a signal engine. It tracks:
‍

• Dividend increases (before the IV spike)
  
  
• Share buyback announcements
  
  
• Earnings surprises
  
  
• CEO exits and activist moves
  
  
• FDA approvals and contract wins
  
  

And it shows how these catalysts performed historically—average return, win rate, holding period—so you're not just guessing.

‍

Use Case:
‍

• Scan LevelFields for today's top catalysts.
  
  
• Pull up those tickers in Thinkorswim or OptionStrat.
  
  
• Run the options chain for defined-risk spreads or directional bets.
  
  
• Confirm the setup with charts, execute with confidence.
  
  

‍

Beginner vs. Advanced: What to Use

‍

Beginners
Start with OptionStrat or Tastytrade to build confidence. Pair with LevelFields to avoid scanning noise and trade based on catalysts.

‍

Advanced Traders
Use Thinkorswim or IBKR for power execution, add OptionNet Explorer for deep backtesting—and pair it all with LevelFields to focus only on setups with statistical edge.

‍

Final Word

‍

Options software helps you model risk.
‍
LevelFields helps you find the trade.
‍

Combine them, and you stop chasing random setups—and start focusing on volatility with a reason behind it.
‍

Want this in a newsletter or comparison table format? Just say the word.

‍

FAQs about Options Trading Software

‍

What is the best software for trading options?

There is no single best option trading software—only the best stack for how you trade.

Most active options traders use:

• A broker with fast execution and options analytics (Greeks, probability, IV)
  
  
• A charting platform for structure and levels
  
  
• A separate tool for news and catalyst detection
  
  

The traders who last don’t rely on charts alone. They build trades around events that change volatility and direction, then use their broker to structure the options around that move.

‍

What is the best AI tool for options trading?

The most effective AI tools for options trading focus on event detection, not price prediction.

AI that works in options trading typically does three things:

• Identifies market-moving events early
  
  
• Shows how similar events historically affected price and volatility
  
  
• Helps traders decide when options have edge, not which strike is magical
  
  

AI tools that try to “predict” prices without context tend to fail. Options traders need probability, timing, and volatility context, not forecasts.

‍

Can you make $100 a day trading options?

Yes—but not consistently for most traders.

Making $100 per day sounds small, but it requires:

• Discipline in position sizing
  
  
• A repeatable setup
  
  
• Risk control (because one bad trade can erase multiple days)
  
  

Most traders who succeed don’t target a daily dollar amount. They focus on high-quality trades when conditions line up, often around earnings, news, or structural catalysts.

‍

What is the 3-5-7 rule in trading?

The 3-5-7 rule is a risk management guideline, not a profit formula.

It generally means:

• Risk no more than 3% on a single trade
  
  
• Limit exposure to 5% across related trades
  
  
• Cap total portfolio risk around 7%
  
  

The exact numbers vary by trader, but the principle is the same: survival comes before returns—especially in leveraged instruments like options.

‍

What is Warren Buffett’s 70/30 rule?

Warren Buffett’s 70/30 concept refers to allocating:

• 70% to long-term equity investments
  
  
• 30% to safer or liquid assets (bonds or cash)
  
  

This framework is about capital preservation, not trading. It’s designed for long-term investors—not active options traders—and emphasizes staying invested without overexposing to volatility.

‍

What is the 90-90-90 rule for traders?

The 90-90-90 rule is a warning, not a strategy.

It suggests:

• 90% of traders
  
  
• Lose 90% of their capital
  
  
• Within 90 days
  
  

While exaggerated, the message is accurate: traders who rely on hype, leverage, and randomness tend to fail fast. Traders who survive treat trading like risk management first, opportunity second.

‍