SogoTrade has launched a new platform, SogoPlay, for options trade ideas and analysis. The new platform is a secondary platform for customers to utilize, with SogoOptions being the primary platform. Both are web based.
SogoPlay is a licensed version of third party platform provider OptionsPlay. An important perk here for SogoTrade customers is that the platform is free to use whereas OptionsPlay by itself is a paid monthly subscription product.
In a recent blog post SogoTrade notes,
The coupling of equity ideas with their optimal option trades has been an elusive and perplexing puzzle for many investors. Well, that has been made a whole lot easier thanks to SogoTrade’s New Options Trading Tool, SogoPlay.
SogoPlay guides investors of all experience levels through the risk and rewards of options trading using clear, concise language that anyone can understand.
The platform utilizes both fundamental and technical analysis to generate option trade ideas. Users can then tweak filters to view different results, analyze the individual trade ideas, and view scores based on their risk/reward potential.
Effectively, SogoPlay uses unique algorithms to provide new and casual options traders with potentially profitable and risk averse trade ideas.