Is Market Chameleon Worth It And What Does It Bring To The Table? (2024)

Trying to navigate the stock market is akin to embarking on a journey through a dense jungle, where every twist and turn presents a new challenge. Amidst this labyrinth of financial data, particularly during volatile market conditions, having the right tools at your disposal is paramount. These tools act as a compass, guiding investors through the intricacies of the market terrain and helping them uncover hidden opportunities.

However, not all services are alike, so it’s essential to do your homework before diving in. My Market Chameleon review is here to dig deep into the platform, exploring what it offers to see if it’s worth your time and money. Market Chameleon is known as a complete options research platform, crafted to serve both newcomers and seasoned traders.

What is Market Chameleon?

Market Chameleon, founded by William McBride in 2007 and based in Philadelphia, Pennsylvania, is a well-known platform tailored for options research. It caters to both beginners and experienced options traders, offering unique tools and datasets not readily available to individual investors or smaller research firms. McBride envisioned Market Chameleon as more than just a tool; it’s designed to guide users toward financial success.

What is Included With Market Chameleon?

Market Chameleon has a range of tools to help you find potential trading opportunities. Here are some of the features that will help you make informed investment decisions:

Stock Research: Market Chameleon offers comprehensive tools for stock research, including premarket and after-hours trading data. Traders can filter stocks by sector, market cap, and other metrics to find relevant information. The platform also provides insights into market movers and major market news events, helping traders stay informed about significant developments.
Options Research: Market Chameleon provides a wide range of options research tools, including an unusual options volume screen to identify stocks with higher-than-expected options trading volumes. Traders can access the implied volatility rankings report to analyze options outcomes and use the put protection tool to hedge downside risk. Additionally, screeners allow investors to identify trade opportunities across different markets.
Earnings Research: Market Chameleon’s earnings section features an extensive earnings calendar and tools for both paid and free members. Traders can track historical earnings moves and anticipate future price shifts. Paid subscriptions offer additional features such as analyst insights and options screeners based on earnings sentiment.
News: Market Chameleon offers free access to press releases and original articles to help users stay updated on market trends. The news feed allows users to discover trending stocks and access insights from the platform’s team.
Watch Lists: The watch list feature enables users to monitor stocks they’re interested in and customize alerts for significant price movements. Traders can create custom stock watchlists with stocks from different screens, enhancing their ability to track market activity.
Unusual Options Scanner: Market Chameleon’s unusual options volume screen is a valuable tool for traders seeking to pinpoint unusual options activity. The scanner allows users to apply various filters and review data from the past 10 trading days. While options activity can signal increased interest in a stock or index, traders should interpret findings with caution.
Earnings Calendar and Tools: Market Chameleon offers an extensive earnings calendar tailored for options trading. Traders can customize screens to focus on specific stocks or dates and gain deeper insights with premium subscriptions.
Customer Support: Market Chameleon provides dedicated customer support to address any questions or concerns users may have, ensuring a positive user experience.

Market Chameleon Pricing

Market Chameleon offers five pricing tiers, each catering to different trading needs:

Starter Subscription: This free plan provides access to basic tools, pre-set screens, and limited stock information, allowing users to explore the platform and learn its functionalities.
Stock Trader Subscription: Priced at $39/month, this plan focuses on stock market tools and features. It includes screeners, stock breakdowns, and some options tools, making it suitable for traders primarily interested in stock trading.
Options Trader Subscription: Priced at $69/month, this plan offers comprehensive options tools, including screeners, options breakdowns, and other options-related features. It provides extensive access to options data and analysis, making it ideal for options traders.
Earnings Trader Subscription: Priced at $79/month, this plan emphasizes tools for earnings-related trading strategies. It includes features like the Earnings Options Strategy Screener and Earnings Stock Patterns Screener, designed to aid in analyzing earnings reports and patterns.
Total Access Subscription: Priced at $99/month, this plan offers unlimited access to all Market Chameleon tools and features. It provides access to every product on the platform, making it suitable for traders who require a comprehensive suite of tools for their trading activities.