Have you ever felt like you’re just trying to navigate the stock market with a blindfold on? Like, you know there are probably some killer trading opportunities out there, but you just can’t seem to find them? You may have found the solution to all your problems: Market Chameleon.
This platform is like a giant neon sign pointing you toward the best stock and options trading opportunities. It has the tools and features you could need, like stock market research, options volume and order flow data, screeners, earnings, and more.
But the question on everyone’s mind is: is Market Chameleon really the right choice for you? Well, I’ll tell you what. I’ve done the research, and I’m here to give you a thorough review.
So sit back and relax as I walk you through this stock market tool’s features, costs, pros, and cons.
Market Chameleon Features
1. Stock Market Research
As a stock trader, you might be interested in the tools that Market Chameleon offers. These tools, while not necessarily innovative, can still be very useful. For example, you can use the platform to quickly view the top performers and laggards of the trading session and stocks with exceptional or low trading volume.
Additionally, you can see which stocks have made significant price movements and whether they have maintained those movements throughout the day. Market Chameleon also allows you to analyze market order imbalances, which often occur when large funds make trades based on closing prices at the end of the day.
While free users can see these imbalances for individual stocks, paid subscribers can view a market-wide order imbalance, providing insight into the sentiment of institutional investors.
2. Options Volume and Order Flow
Okay, let’s talk about the real star of the show: the options data on Market Chameleon. Now, if you’re a newer options trader, you might prefer something a little simpler, like Motley Fool Options. But for all you self-directed options traders out there, buckle up because this platform has a ton of helpful tools for you.
One of the standout features is the unusual options volume scanner. This scan automatically finds stocks where options are traded at a higher rate than normal. And let me tell you, finding those unusual options volumes can be like finding a needle in a haystack. But with this tool, it’s like someone just handed you the needle and said, “here you go!”
But that’s not all! Market Chameleon will also identify potential catalysts for you. This can help you decide whether the options activity is a worthwhile trading opportunity or just hype driven by rumors. It’s like having a crystal ball for the stock market.
3. Tailored Watch Lists
Ever found yourself with so many stocks and options contracts on your radar that you feel like you need a second pair of eyes just to keep track of them all?
Well, Market Chameleon has that sorted out with their unlimited watchlists feature.
You can create the number of watchlists you want for either stocks or specific options contracts. And the best part? Every screen or analysis available on the platform can be restricted to the contents of your watchlists. It’s like having your own personal assistant filter through all the noise and only show you the stuff that matters.
4. Earning performance
Let’s talk about another area where Market Chameleon shines: earnings season. When it comes to earnings, this platform really puts its tools to work to help you find profitable trading strategies.
They’ve got an analysis page that shows you which stocks are overvalued or undervalued around earnings. They compare option order activity to the stock’s historical earnings performance.
One interesting aspect of this service is that it analyzes the earnings-driven price change implied by options activity and compares it to the changes experienced in the past. In other words, it shows you where other traders might be overestimating, giving you a chance to profit from their mistakes.
Looking for an alternative stock research tool? You might want to read our option strategies insider review and trade ideas review to see if those alternatives ticks all the boxes for your investment needs.
How Much Does Market Chameleon Cost?
If you’re considering using Market Chameleon, you might be wondering how much it will cost. Here are the different subscription options available and their corresponding prices:
For $39 a month, Market Chameleon’s Stock Trader plan gives access to all stock-related tools and the ability to download data. Options Trader is $69 and provides most features, barring analysis of how options activity is related to earnings releases. The Earnings Trader plan is more expensive at $79 per month but does include a comparison of options activity and earnings moves, yet lacks options screeners.
The Total Access plan costs $99 per month and includes access to all of Market Chameleon’s option data and earnings analysis.
Like most alternatives like trendspider, they have different subscription options on Market Chameleon and their respective prices. You can choose the paid plan that best fits your budget.
Market Chameleon Pros and Cons
- Gap-and-go screener and other free tools
- Options screener with 18 different strategies
- Scans for market order and options volume imbalances
- Comparison of options-implied price movements to historical earnings moves
- Ability to backtest options strategy performance during earnings seasons
- Interface is complex
- The paid plan could be more budget-friendly
Is Market Chameleon worth it?
Market Chameleon is a platform that offers a range of tools for stock and options traders. It excels at helping you find potential trading opportunities, especially around earnings season, by leveraging options order flows.
While the data it provides may not always be straightforward to interpret, it could be a great fit for experienced options traders looking for a little extra help finding profitable strategies.
So if you’re an options trader on the hunt for a new platform, why not give Market Chameleon a try? You can take advantage of Market Chameleon 7-day free trial and see if it checks all the boxes for your trading needs.