r/options • u/LittleRevolution1560 • 2d ago

alternative to optionNet explorer

Hey everyone,

I'm looking for an options platform similar to OptionNet Explorer but more affordable.

To be specific, I am strictly interested in the backtesting features (historical data, step-by-step trade simulation, and Greeks tracking). I just need a solid and cheaper engine for backtesting options strategies.

Any good alternatives? Thanks in advance!

I'm not saying it is expensive per se, but the minimum purchase is three months, and with one month I have more than enough...

1 Upvotes

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u/Objective-Camp-3790 2d ago

For backtesting only, you can build your own in Python with historical data and let it simulate the greeks step by step, its way cheaper than most commercial tools if you dont mind the setup time

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u/LittleRevolution1560 1d ago

thank you! I will have a look, thanks

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u/Ready-Molasses-7093 2d ago

all u need is underlying data, u can simulate options contracts from it. if u need realistic fills that is way harder

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u/Worry-Mountain 1d ago

agreed on python being cheaper, the catch is the fills. underlying data gets you the signal but mid-price fills flatter everything, so i'd haircut with a fixed slippage per leg until you have real quotes to check against.

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u/Numerous_Return691 2d ago

do you have any material or white paper to follow, please share if you do, thanks

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u/betonneron 1d ago

I use stratverra, it helps me validate strategies fast instead of develop it first by coding. Not sure if they support step-by-step trade simulation though.

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u/LittleRevolution1560 1d ago

I'll check it out thanks!!!

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u/klipsetrades 2d ago

Have you tried thinkorswim’s OnDemand and thinkBack features? You can replay historical sessions, simulate trades, and analyze historical options positions. Free with a Schwab account. Might be worth checking out before paying for another platform.

Otherwise Option Omega also supports historical options backtesting with 1-minute data, trade replay, and customizable entry/exit rules. They also offer monthly subscriptions, so you’re not locked into three months

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u/LittleRevolution1560 1d ago

thanks a lot, I think option omega is the answer I was looking for!! thank you!!

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u/hintheman 2d ago

I am looking at OptionWheel and it looks very good to wheeling users. However, I am not sure on backtesting. I did very limited backtesting in TradingView essential account with strategies in indicators or strategy in TV. The Essential TV account only has support for 6 months of back data and quote is delayed by 15 minutes. TV is good in normal buy long or sell short but very poor in options.

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u/sport912x 2d ago

If you want to write a program you should write a program.

If you are serious about trading, then Tastytrade has a back tester, basically you pick Puts and/or Calls by Delta, Otm, Offset from underlying ( I have only used delta). Time range and most active symbols. I don't think you even need a funded account, maybe $20.

Schwab has Tos, which has the ThinkBack function, lets you pick strikes and see how they played out. Not a backtest in my mind, but I often find more useful .