Wheel Web Platform

An all-in-one package for backtesting, scanning, trading, and risk.

Top New Features in Wheel

New and improved tools for strategy development.

Paper Trading

Wheel Paper Trading

Experience an all-in-one paper trading toolkit, with seamless execution and powerful risk management.

Featured Backtests

Wheel Featured Backtests

Get a head start on backtesting with several robust strategies curated by the professionals at ORATS.

Trigger Engine

Wheel Trigger Engine

Test the best entry and exit triggers for your strategy with hundreds of our proprietary indicators.

Overview Graphs

Wheel Overview Graphs

Watch the market in new ways with our custom graphs, populated with our proprietary implied volatility forecasts.

Videos

Learn and explore Wheel with walkthrough videos

Wheel Scanner Video Walkthrough
Wheel Trading Video Walkthrough
Wheel Backtester Video Walkthrough

Tools

Primed for creating and testing new strategies

Backtesting

Our most popular tool allows you to backtest any option strategy dating back to 2007.

Backtest bullish, bearish, and neutral strategies - ranging from covered calls to diagonal calendar spreads.

Customize days to expiration, strike selection, and many other parameters including stop losses and profit targets.

Choose from hundreds of entry and exit triggers and technical indicators such as contango and RSI.

View results in minutes and get important metrics such as Sharpe ratio, volatility of returns, win/loss%, max yearly loss, max drawdown, and much more.

Backtesting an Options Strategy on Wheel

Scanning

Scan current market conditions for the best trade for any strategy.

Scan bullish, bearish, and neutral strategies, as well as your own custom backtests.

Quickly preview and submit trades directly from the scan results.

Sort by distribution percentage, forecast percentage, smoothing percentage, or delta cost.

Click on the trade description to jump to those options in a chain.

Scanning the Options Market on Wheel

Trading

Submit orders, view positions, and monitor risk without risking your own money.

Forward-test your strategies in an end-to-end paper trading environment.

View payoff diagrams for each trade and even your entire portfolio.

Set up autotrading and alerting so you can test multiple strategies at once.

Paper Trading on Wheel with Payoff Diagram

Chain

Compare options values, IVs, volumes and trade directly from the ORATS Options Chain.

Volume, open interest, implied volatility, and delta.

Set up a trade by clicking on the ask for buy and bid for sell.

Compare options bid-ask to the SMV theoretical value and forecast value for each option.

Theoretical values outside the bids and asks are marked green or red.

Trade stock by clicking on the stock bid to sell or ask to buy.

Options Chain on Wheel with SMV

Chart

Visually explore your favorite stocks with our historical charts that go back to 2007.

Chart hundreds of proprietary indicators, including short-term contango, implied hard-to-borrow interest rate, and 30 calendar day interpolated implied volatility.

Choose from popular measures of performance such as MACD and Bollinger Bands.

Set up entry and exit triggers and see on the chart when the strategy would trade.

Charting Proprietary Indicators on Wheel

Pricing

Basic
Pro
Enterprise
Plans
Basic
Cost

$99 /mo

Everything you need to get started with options trading strategy development.

Backtesting
 
Multiple Legs
Exit Strategies
Delta Hedging
Optimize Strategies
Trading
 
Paper Trading
Risk Management Toolkit
Autotrading & Alerts
Usage
 
Users
1
Backtests /mo
100
Featured Backtests
3
Assets Under Management
$1 million