Options traders win at Questrade. Here’s why

Entry-level tools build entry-level results—and when it comes to options trading, that means passing up on a lot of upside. 

Take times of market volatility as an example. When the market swings wildly, options are both a life jacket and a plane ticket, giving you a way to keep the value of your holdings afloat if their price starts to sink, or a means of riding that volatility to new heights. 

So, why settle? With Questrade, you don’t have to. See how we stack up side-by-side for yourself, from strategies to tools and platforms:

 The comparison is based on tools available on WS of May 14 2025 for option trading.

Don’t get hung up on the names—once you know how to use them, strangle, butterfly, and condor all bring value to the table once you get to know them. The biggest overall benefit of multi-leg strategies, though, is that you get more control over the risk and reward profile for your trades.

• Define your risk: Unlike single-leg options, where the potential for loss is technically unlimited (for uncovered short calls or puts), strategies like spreads and strangles let you set your maximum profit and loss upfront.
• Different paths to profit: With single-leg options, you generally profit by correctly predicting the direction a stock’s price takes. Will it rise or will it fall? Multi-leg strategies, though, can be designed to make money when the underlying asset’s price remains within a specific range.
• Increased profit probability: Not all multi-leg strategies work this way, to be clear. But remember the condor and butterfly? Those strategy types aim for small profits with a high probability of success. By limiting your potential profit, you also cap your risk, giving you a more conservative option.

Stop settling, start thriving. Open an account

In a sentence: they let you make more effective options trades by giving you a clearer sense of market movement, risk, and potential profit.

In more than a sentence: they work together as a team of features to raise the ceiling on your options trading.

• The real-time data you get at Questrade ensures you’re crafting a trade with the most up-to-date price information. Plus, you’ll see the bid and ask prices and lots available, giving you a better idea of market liquidity. That helps you manage your risk, as when options aren’t liquid, it’s harder to exit your position quickly.
• All this data streams into platforms that are designed with options traders in mind. Mobile app, web browser, desktop—take your pick. Trading from your phone is convenient, but when it’s the only place you can make options trades, it’s also restrictive. Sometimes, you just need more info than what fits on a small screen. 
• But what if you’re not sure where to start? That’s where OptionsPlay comes in. With a new list of trade ideas generated each day, the source of inspiration you need is always waiting for you in your Questrade Edge Web or Desktop platform.
  

To find successful options trades, the tools you’ll have as soon as you open your account are enough. You can take your strategies even further, though, with Questrade Plus.

Balance your trades: Unlock a profit-and-loss calculator, built into our desktop app.

Predict shifts with the 5 Greeks: The advanced charts you get show you option Greeks, which are a dynamic representation of how changes to the underlying asset will affect an option’s value. There are five Greeks you’ll get to see in action…

• Delta, the sensitivity detector. It shows how much your option's price will likely change for every $1 move in the underlying asset's price. High delta options are more volatile—a double-edged sword offering higher potential gains but also greater risk.
• Gamma, the change speedometer. It measures how fast your option’s delta changes. High gamma means your option’s value will change dramatically even with small movements in the underlying asset.
• Vega, the volatility scale. This shows how sensitive your option is to expected future price swings, and is crucial for trading during periods of market uncertainty. 
• Theta, the ticking clock. It measures the daily time decay of your option’s value. As your option nears expiration, its worth shrinks—making theta invaluable for short-term positions.
• Rho, the interest rate watcher. Especially valuable for longer-term options, this shows how interest rate changes will affect your option’s price.

Put it all together and you’ve got a 5-in-1 visualization of how your option idea will be affected by different changes, raising the ceiling and floor for all your trades.

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.