OptionsXpress released a new tool a few months ago called Trading Patterns. The tool has steadily become more popular over the past few months. Trading Patterns is a tool designed to help clients find new trading ideas much quicker. To use the Trading Patterns platform a user simply inputs a ticker symbol and is then provided with a list of up to 10 other securities that are popular with like-minded investors. Basically, you put in a security that is of interest to you, and Trading Patterns will give you up to 10 other securities that investors with similar search habits have shown interest in.
Trading Patterns not only provides the list of up to 10 other securities, but it also shows updated option trades for each of those securities. The options action is updated every 30 minutes. In addition, a description of the similar companies listed is provided on the same page to make the process more user-friendly.
This platform allows users to quickly identify other possible suitable investments and research them from the same screen. This is an innovative platform that stock and options investors alike should find helpful in finding new trading opportunities. Full identity protection is given while getting a glimpse into what investors with similar outlooks are trading.
For more information on Trading Patterns and how this platform works click here. Below is an example of what a search through Trading Patterns will display for users.