Option Research with OptionsPlay

In the dynamic world of investing, the right tools are essential for both seasoned traders and novices. Questrade is extremely proud to partner with OptionsPlay to bring you their research and trading tools completely free of charge to the Questrade platforms.

Built right into the Questrade Edge Web and Edge Desktop platforms, the brand new OptionsPlay research tab provides you with a user-friendly interface for options research, trade ideas, educational tools, profit calculators and much more.

This invaluable resource empowers traders to make informed decisions, tailoring their approach to align with market dynamics and personal risk tolerance. Browse through bullish, bearish, or high volatility-based strategies and preview the top 9 trade ideas.

Not a fan of the expiry dates or strike prices shown? Select Modify to customize any strategy to align with your goals. Ready to make your move? Select Preview to show this trade in your order entry window.

Below the strategies you’ll also find additional tools like the P&L Simulator, Risk and Investment Calculator and Trading Range Simulator.

Not sure how a strategy works and want a simplified explanation? Select the Plain English tab to show you a text breakdown of any selected strategy.

Income Tab

Step into the world of income generation with options using the Income Tab Tool.

It’s designed to simplify the process of buying stocks at a discount using a Cash Secured put strategy, while also ensuring consistent income through Covered Calls as you hold onto your investments.

With just a glance, it shows how much potential income could be generated from any optionable stock or ETF, providing instant ideas even for those unfamiliar with trading options or navigating an options chain.

The Income tab tool tackles common hurdles like choosing the right expiration date or strike price, analyzing trade data, and comparing the yield to owning the stock outright, making it a valuable asset for those starting their journey in options-based income strategies.

Choose the right strike price and expiration date in the Options Grid tab, go through the potential risk and your trading checklist, and explore the different strategies, greeks and what they mean.

For even more customization, you can also change your Income Settings and modify your defaults.

For both Calls and Puts, you can choose your desired Timeframe and Risk Tolerance, either on an individual strategy basis, or as your new default.

Whether you’re a short-term active trader looking for lots of risk, or a long-term passive investor looking for a conservative income-generating strategy, the Income tool offers something for everyone.

If this is your first time launching OptionsPlay, it may take a few moments to load all of the information. Once loaded, you're ready to start using all the rich analysis tools and much more available to you.

Tip: If you’re using a laptop or a smaller screen, you can also hide the order entry shortcut widget to focus on the OptionsPlay interface.

The platform is engineered to tackle common challenges faced by traders, whether it’s the need for daily trade ideas, or the daunting task of technical analysis.

OptionsPlay synthesizes a vast array of market data into actionable insights, presenting it in a user-friendly interface that expedites the learning curve associated with options trading.

Finding and using the advanced research tools available from OptionsPlay in Questrade Edge Desktop is easy. Simply open the program, log in, and click the OptionsPlay menu button from the top navigation bar.

Tip: Want to maximize your screen real estate? You can zoom in and out on the OptionsPlay window in Edge Desktop using CTRL + Scroll up/down keyboard and mouse shortcut.