Ever felt like you were trying to navigate the stock exchange with your blindfold on? You know there are great trading opportunities, but you can’t seem find them. Market Chameleon may be the answer to your problems.
This platform acts as a big neon sign, directing you to the best options and stock trading opportunities. It offers all the features and tools you need to research stock markets, order flow data and options volume, screeners, earnings and much more.
The question that everyone is asking is, “Is Market Chameleon the right choice?” Let me tell you. I have done extensive research and am here to provide a comprehensive review.
As I take you through the pros and cons of this stock market tool, sit back and enjoy.
Market Chameleon features
1. Stock Market Research
Market Chameleon has tools for stock traders. Although not always innovative, these tools can be extremely useful. You can, for example, use the platform to quickly see the top and bottom performers of the trading session as well as stocks with high or low trading volumes.
You can also see which stocks have experienced significant price movements, and whether those prices have remained constant throughout the day. Market Chameleon allows you to analyse market order imbalances. These are often caused by large funds trading based on the closing prices at the end the day.
These imbalances can be viewed by free users for individual stocks. Paid subscribers can view the market-wide imbalance and provide insight into institutional investors’ sentiment.
2. Options Volume and Order Flow
Let’s get to the main star of the show, Market Chameleon’s options data. If you are a novice options trader, Motley Fool Options might be more suitable. For self-directed option traders, this platform offers a lot of useful tools.
The unusual options volume scanner is one of the most notable features. The scanner automatically detects stocks that are trading at a higher than normal rate of options. Let me tell you, it can be difficult to find unusual volumes of options. This tool is like someone handed you the needle and said “here you are!”
This is not all. Market Chameleon can also help you identify potential catalysts. This will help you determine if the options activity is worth your time or hype driven by rumors. This is like having a stock market crystal ball.
3. Tailored Watch Lists
Have you ever found yourself with so many options and stocks on your radar that it feels like you need another pair of eyes to keep up with them all?
Market Chameleon’s unlimited watchlists feature makes this easy.
You can make as many watchlists for stocks and options as you like. The best part? You can limit the screen and analysis you see on the platform to what is in your watchlists. This is like having your personal assistant filter through the noise to show you only the important stuff.
4. Performance is earned
Let’s look at another area in which Market Chameleon excels: earnings season. This platform is a great resource for helping you find profitable trading strategies.
The analysis page will show you which stocks are undervalued and overvalued in terms of earnings. They also compare historical earnings performance to option order activity.
This service has an interesting feature: it analyses the earnings-driven price changes implied by options activity and compares them to past changes. It will show you areas where traders may be underestimating and give you the opportunity to profit from them.
Are you looking for an alternative stock research tool to the one you have been using? To find out if these alternatives meet your investment requirements, you might also want to review our option strategy insider review or trade idea review.
What Does Market Chameleon Cost?
Market Chameleon is something you may be interested in. Below are the prices for each subscription option:
Market Chameleon’s Stock Trader Plan costs $39 per month and gives you access to all stock-related tools as well as the ability to download data. Options Trader costs $69 and includes most of the features except for an analysis of how earnings activity is related. Earnings Trader is more expensive at $79 per monthly, but includes a comparison between options activity and earnings moves. However, it does not include options screeners.
The Total Access plan is $99 per month, and provides access to all Market Chameleon’s earnings analysis and option data.
They offer different subscription options and prices, just like other alternatives such as trendspider. You can choose which plan is most affordable for you.
Market Chameleon Pros & Cons
PROs
- Gap-and Go screener and other tools
- Screener of options with 18 different strategies
- Market order and options volume imbalances scanned
- Comparison of option-implied price movements and earnings moves
- Ability to backtest strategies during earnings seasons
CONs
- Interfaces are complex
- The paid plan may be more affordable.
Is Market Chameleon worth it?
Market Chameleon offers many tools to stock and option traders. It is able to help you identify potential trading opportunities, particularly around earnings season by leveraging option order flows.
Although the data provided may not be easy to understand, it can be an excellent fit for options traders who need extra assistance in finding profitable strategies.
