As many already know, options trading is the process of buying and selling options. However, whilst this explanation may seem simple, the process itself can be quite complex without either paid or free access to key data and tools.
To help you become more knowledgeable when it comes to trading options, there are a variety of services and real-time news sources that are brilliant at conveying the right information simply and concisely.
Benzinga Pro is such a platform. It is a stock trading and screening platform for helping individuals become more familiar with the stock market, financial news, and options trading in general. Even day traders are likely to benefit from the features and services provided by Benzinga Pro. Features including their real-time news desk, calendar suite, and audio news.
Only available as part of Benzinga Pro, Benzinga’s proprietary options trading service is a well-established and well-regarded platform for options trading. Included in their wide array of features is an inner circle chat room and filters to filter the price range, market cap, and other categories of stocks.
Through the guidance of Benzinga Pro, beginners can even learn the process of options trading from square one and they have access to a wide array of features that are sure to be valuable when it comes to understanding and beating the stock market.
In this article, we will be covering all aspects of Benzinga Pro (including Benzinga Options) to help you better understand whether a Benzinga Pro subscription would be beneficial.
Here Is Benzinga Options Review
Benzinga Pro is a platform that provides up-to-date and valuable information on the most significant news and analysis on the market and its key players.
This site features several attributes that help subscribers make more informed trade decisions and thus becomes more likely to be able to make trades that beat the market.
As a news platform, Benzinga Pro provides a depiction of financial news in a way that accurately portrays important activity that has a large influence on finance and the stock exchange. The real-time news is displayed on their easy-to-use platform and can be analysed by even beginner-level traders who are unsure about using certain financial services.
Benzinga Pro offers a number of features used by many different types of traders including swing traders and those who day trade.
In this Benzinga Pro review, we will cover all that is related to Benzinga Pro as well as the exclusive options package. Let us first begin with how much the service costs and what packages are available to their subscribers.
There are various pricing tiers for Benzinga Pro. Below we will cover the prices for an annual subscription:
Benzinga Pro Basic: $79 /month paid annually (20% discount)
Benzinga Pro Essential: $117 /month paid annually (34% discount)
Benzinga Options Mentorship: $281 /month paid annually (19% discount)
For those of you who are not yet sure if they wish to commit to an annual membership, here are the prices for monthly subscriptions:
With the Benzinga Pro ‘Essential Plan’, you have access to a variety of features, including sentiment indicators. Sentiment indicators essentially indicate the attitudes of key participants when it comes to the stock exchange.
In this Benzinga pro review, we will also cover all of the features covered in either their basic package or their essential package (or both).
The features that are included in either or both packages are not only useful for investors who choose to hold their investments for a long period of time, they are also useful for day trading participants.
Day trading is the process of buying and selling shares within a short period of time. Day traders often utilise many different tools to help them get up-to-date information quickly and efficiently. As such, it is likely that Benzinga Pro is useful for many different types of traders.
Financial News In Real-Time
With the Benzinga Pro real-time news feed, you have access to the most important news, press releases, and analyst ratings that are likely to have significant effects on your investments.
Active traders are likely to benefit from the real-time news platform offered by the Benzinga Pro basic package (and all subsequent packages). With the analyst ratings, you can understand stocks at a higher level and thus become more capable of making important decisions.
Through publishing important sections of real-time news, Benzinga Pro can give its subscribers a convenient way of improving their understanding of the current financial state of the market.
On the other hand, what makes the Benzinga Pro news desk different from other news sources? The simple answer is that other news sources tend to be all-encompassing of all types of news, whether that type is relevant or otherwise.
When it comes to having useful content for, for example, long-term investors and day traders, the majority of news sources are not specialised enough to give useful information instantly.
Alternatively, users of Benzinga Pro can analyse stocks and come up with trading ideas that can compete in such a volatile market in a timely manner. Benzinga Pro has proven to be able to give its users a distinct advantage through its ability to portray real-time data in a manner that is easy to read, accessible, and convenient.
Dashboards are available with the basic package and all following packages. It is a basic feature with a lot of benefits. In Benzinga Pro, dashboards are displayed simply and stylishly, with all of the essential attributes included.
With the dashboard, you can, for example, filter by market cap. Market cap refers to the value of a firm’s outstanding shares. It can be a significant factor in some trading strategies since it essentially helps you to see a company’s competitive ability and its current business development stage.
With the inclusion of the market cap filter, Benzinga Pro also offers the ability to filter by sector, price range, and a whole range of other important categories for trading and investment.
With the alerts feature in Benzinga Pro, subscribers can receive alerts in any of the following forms: desktop, email, and sound. It is possible for you to also instantly identify different alerts that signify different items so it is easier for you to know if there is any important news that you need to consider.
Alerts are fully customisable and they are very convenient for many situations. For example, alerts are useful for those who are away from a traditional desktop, for those who do not want to miss any sort of notification at all, or even for those who are going on vacation yet still want to be notified of important stock exchange activity.
No matter your reason for wanting to be notified of important activity, the alerts feature is sure to be a very useful asset.
Through the movers feature in Benzinga Pro, you can easily have a clear view of the biggest winners as well as the most unfortunate losers in the stock exchange. It is possible for you to filter whether you only want to see the winners, losers, or you can also include both on the page.
To help you make the most of the feature, it updates every single minute. Whilst it might not be truly updated in ‘real-time’, it is often enough that the feature is still useful for time-sensitive trades. Furthermore, with this type of update function, it is easier to see and analyse all of the relevant data.
With this feature, Benzinga Pro has enabled you to track all activity based on various criteria such as block trades and high and low stock points.
Block trades encompass trades of 10,000 shares or a value of a certain amount. The benefit of tracking such trades is that it ensures you are completely aware of all significant activity and the movement of stocks.
With the squawk feature, the Benzinga Pro package provides subscribers with an audio broadcast of important finance-related news. This is particularly helpful for those who are more partial to audio-based content in comparison to reading the main headlines on an online article.
Another brilliant attribute of this particular feature is that it completely filters out all of the non-relevant news so that you only have to listen to the most impactful pieces of finance-related news.
The squawk feature also includes other types of content including press conferences, a Wall Street analysis, as well as the most relevant comments and answers from interviews.
The Benzinga Pro calendar has been known for being able to securely cover items such as dividends, SEC filings, retail sales, and so much more.
SEC filings are financial documents that need to be submitted to the SEC (Securities and Exchange Commission) to ensure that stakeholders can analyse and understand the bonds/shares brought into the stock exchange. As such, SEC filings are incredibly useful when it comes to helping both new and experienced investors make timely and informed trading decisions.
With Benzinga Pro, subscribers also have access to the watchlist. This is basically a feature that allows you to easily monitor all of the trades that you choose to make as well as your potential trading ideas.
Through the watchlist feature, you can also sign up for email alerts on a daily basis. These alerts will inform you of the news that impacted your particular stock.
When it comes to keeping track of various stocks, it is very important to understand the market cap(capitalization). By understanding this, you can better evaluate trades in real-time.
It is important that you also understand the significance of what is considered a high or low capitalization and how it may be calculated. When it comes to personally calculating this value, you can simply compare the current price by the number of outstanding shares.
Whilst it may seem easy to calculate on paper, it is simply more convenient to have it displayed through the watchlist.
Trading volume is also an important category to monitor. In order to become more familiar with how securities are regularly traded, it is essential that you monitor the trading volume.
For those who are unaware, trading volume essentially refers to the total number of shares traded for a specific security over a certain period. However, just knowing the trading volume is not enough. It is also essential that you understand the significance of either a low or high trading volume.
A high trading volume can often indicate higher liquidity. Liquidity refers to how easy it is for a particular asset to be directly converted to cash.
The scanner has been developed specifically for day traders for the purpose of day trading. For those who are unaware, day trading is the process of buying or selling shares over a period of one trading day.
Day trading can be an exhausting and highly complex operation with you having to make major decisions quickly and without faltering. As such, utilising the scanner developed by Benzinga Pro, day traders can make more informed decisions at the drop of a hat.
Chat Room and Community
The chat room is an incredibly useful feature offered by Benzinga Pro. With the option of being able to communicate directly with investors of all experience levels, you can gain advice to trade with more success in the stock exchange.
Through the real-time chat room, it is also possible that you may develop a good relationship with a particular investor where you can share lucrative trade ideas.
Exclusive Benzinga Options Review
We’ve covered in our Benzinga Pro review the most essential features provided by either the basic or essential package. However, as previously mentioned there is also a package for options mentorship. In this review, we will be covering the features that are available with this particular package.
About Benzinga Options
For active traders who are interested in a trading mentorship that enables them to choose the most lucrative options stock, then Benzinga Options has plenty of additional features
To make high-quality options trades, it is crucial that you completely understand all of the intricacies to do with options and trades in general. As such, Benzinga Options provides several features that will help you retain more advanced knowledge and experience with options trading.
Benzinga Options-Specific Features
The Benzinga Pro options package has inclusive features available only for subscribers. It has the following features available for its users.
Inner Circle Chat Room Access
With the inner circle chat room, you can chat with an exclusive group of vetted individuals who are very serious about trading. As an inner circle chat room, it is entirely possible for you to make close connections with individuals of various experience levels in trading stocks.
Through the Benzinga Pro options package, you have access to mentorship from Nic Chahine that can help you to fully optimise your strategy and provide useful trading advice ideas and advice suitable in the current climate. Nic Chahine is an accomplished and experienced trader who can give you useful advice relating to options.
Each month you receive a total of 6 exclusive options picks. This enables you to understand which options have stood out to the experienced Benzinga team. With so many picks, it is easy for you to completely see what is considered likely to be a successful investment.
Market Overview and Trading Strategy
With the market overview feature, you have a much better view of the significant activity of relevant stocks. Nic Chahine’s trading strategy has been developed to be market-leading with a great degree of success. As such, the overview is useful for giving you a much more exclusive insight into the intricacies of the market.
In our Benzinga Pro review, we have listed many of the features and advantages offered by Benzinga Pro and the options package. However, in order to be an unbiased and complete Benzinga Pro review, we are going to look at a few of the key alternative platforms that are also brilliant at delivering key pieces of finance-related data/news.
Atom Finance is a high fidelity platform designed to help investors understand more about the market and trade using their built-in tools. In order to help independent investors compete in a volatile market, Atom Finance provides its users with institutional-grade data on significant stocks.
With Atom Finance, even with only basic chart reading skills, it is possible for you to get useful information to better understand market stocks.
Atom Finance has an easy to use the chat feature, enabling you to gain insights and advice for other investors who use the platform. With an active and buzzing community, the chat room can help to give you more confidence in your understanding of certain concepts and stocks by asking questions.
Atom Finance has designed its platform to include the ability to search for documents and SEC filings. This is helpful as investors and users can build their comprehension of the intricacies of certain companies and stocks.
This platform also includes a feature for you to be able to easily track all of the investments you make. This can help you to get a readable view of exactly how diverse your portfolio appears.
Zacks Trade is a well-established discount broker. Their selection of stocks and ETFs have been thoroughly researched, giving you confidence in their services. It also gives you access to valuable information in global markets.
This platform offers various services relating to stocks, funds, options, and more. It includes several powerful tools to help users invest more effectively and efficiently.
The platform is very user friendly. They have several videos to show exactly how to use the app and use simple language to describe what would be considered complicated concepts. As such, it is incredibly friendly towards even beginner-level traders.
TradingView is a stylish platform for helping users become more familiar with the stock exchange and look for favourable opportunities that are sure to give them a head start in investing.
With their ‘look first, then leap’ philosophy, it is not difficult to tell just exactly how much they value the quality of research and data when it comes to any kind of investment. They also have more than 30 million traders who use the platform every single month, showing their reputable status as a finance platform.
Their charts are interactive and very easy to use. It is incredibly important that such charts are easy when it comes to both reading and using. This makes the process for using the platform less complicated as users can easily see how well their chosen stock has performed.
In our Benzinga Pro review, we’ve mentioned that that have a very useful calendar feature. TradingView also includes a calendar feature that is incredibly easy to use and accessible for all subscribers.
Before you make any purchases you can see how their charts platform works and interact with a few of their key features. This makes it much easier to decide whether you should create an account and become part of the TradingView community.
With TradingView, users can utilise their chat room to speak with other traders and investors who use their app. With a chat room, it is easier for you to gain insights into topics you are interested in from experienced investors.
The chat room is also a brilliant way to get news that may take you a few days or more to actually read up on. This means that you can make more informed decisions in a timely manner.
In this Benzinga pro review, we have analysed the effectiveness of Benzinga Options as a financial news site and streaming platform. We’ve also compared it to some of the highest-rated alternative platforms on the market.
From the results of our research, we have concluded that Benzinga Options is a highly suitable platform for many different types of traders. It is likely that you will benefit from the options package by gaining access to all of the Pro features as well as additional and more advanced features such as the inner circle chat.
How Much Does Benzinga Options Cost To Subscribe To?
Benzinga Options come within the Benzinga Pro package. As such, to retain all of Benzinga Options features, you can pay a total of $281 per month paid annually.
With a long trial period of two weeks, active traders can benefit from learning all about the Benzinga Pro options package without having to officially pay what might be considered quite a lot of money.
Who Is Benzinga Options Designed For?
Through our Benzinga pro review, we’ve analysed all of the features and benefits that you may be provided with a subscription. There are features designed to help many different types of traders with many different types of goals.
Benzinga Options in particular is highly useful for traders who invest in options. However, as it is included as a package, it includes all features offered by both the basic and essential package. As such, Benzinga Pro (specifically the options package) is suitable for all types of traders.
Is It Worth Using Benzinga Options?
With a responsive support team and circle chat room, when the market opens investors are already very well-informed of the news and important information relating to their stock picks.
From our Benzinga pro review above, you can fully understand whether it contains the features that would make it useful for your circumstances. Although every single individual faces different circumstances, with the various attributes and tools provided by the illustrious Benzinga Pro, it is likely that you would benefit from using this platform regardless of your situation.
As a result, the simple answer to this question would be: ‘Yes’. For those who have the ability to purchase such a subscription, then it would be absolutely worth the money required and the time needed to learn how to use the platform.
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Author: J Maver
Passionate in tech, software and gadgets. I enjoy reviewing and comparing products & services, uncovering new trends and digging up little known products that deserve an audience.