Options Trading Toolbox Walkthrough

Finding reliable tools for trading options can feel impossible. Paid screeners, back testers, and Discord channels are expensive, confusing, or incomplete. If you’ve struggled to find a single resource that does it all, the Options Trading Toolbox is the solution. 

This free, all-in-one platform brings back testing, screeners, trade ideas, and market insights into one place, helping traders of all levels make better decisions. In this guide, we’ll walk through every feature of the toolbox, showing you how to use it and maximize your options trading success.

What is the Options Trading Toolbox?

The Options Trading Toolbox is a completely free website designed for options traders. It combines tools that normally cost hundreds of dollars into a single platform. With this toolbox, you can:

• Back test your strategies over multiple years.
• Screen for profitable options and strategies.
• Track unusual market activity and insider trades.
• Access trade ideas with entry rules, stop-losses, and reasoning.
• Visualize profit and loss for trades.

Instead of hopping between paid tools and channels, the toolbox consolidates everything in one place, giving you the insights you need to trade profitably.

Options Back Tester

How to Set Up a Back Test

The back tester allows you to test your strategies against historical data. You can choose:

• Time period: 10 years for long-term strategies or 3 years for short-term, zero DTE strategies.
• Preloaded strategies: Options like iron condors, short puts, or put credit spreads are ready to use.
• Custom strategies: Build your own strategy from scratch using the available tools.

For example, if you choose a put credit spread, you can easily set the strike prices, delta level, and expiration date, all step by step.

Entry and Exit Rules

You can fully customize your trade entries:

• Frequency: daily, weekly, monthly.
• Timing: different times of day or days of the week.
• Indicators: set your preferred technical indicators.
• Min/max trade price: control the price range for entering trades.

Exit rules are just as flexible:

• Take profits: e.g., 50% target.
• Stop-loss: e.g., 100% loss limit.
• Time-based exits: close trades after a certain number of days.
• Indicator-based exits: exit based on technical signals.

Miscellaneous Settings

Keep your account size and risk in check:

• Start amount for back tests.
• Maximum open trades.
• Max contracts per trade.
• Max allocation per trade.

You can also include commissions and slippage to ensure your back test reflects real-world trading conditions.

Reviewing Results

After running a back test, the toolbox provides:

• Trade logs with full price history.
• Summaries in plain English.
• Comparisons between multiple back tests.
• Option to convert your back test into a trading bot.

This makes it easy to see what worked and what didn’t before risking real money.

Option Screeners

Single Option Screener

The single option screener allows you to filter individual options by:

• Price and volume.
• Greeks (Delta, Gamma, Theta, Vega).
• Earnings and dividend dates.

Once you create a filter you like, you can save it and reuse it anytime—completely free.

Strategy Screener

The strategy screener combines options to find profitable strategies like:

• Put credit spreads.
• Call credit spreads.
• Iron condors.

You can filter by metrics such as:

• Probability of profit.
• Return on capital.
• Win rate.
• Max loss or profit.
• Credit received.

It also links directly to the Options Visualizer, allowing you to see a strategy’s risk/reward graphically.

Trade Ideas

Trade ideas show strategies that have been proven effective over 8 years of market experience. Features include:

• Bullish and bearish strategies.
• Detailed entry rules, stop-loss, and take-profit levels.
• Clear reasoning for why a trade is recommended.

Unlike paid channels where you get trade alerts without explanations, the toolbox teaches why the trade works, helping you learn while you trade.

Gamma Exposure Tool

Gamma exposure is a unique and free feature of the toolbox. It shows:

• Where trading volume is accumulating.
• Levels likely to pull the stock price during the day or month.
• Max pain points, put walls, support, and resistance levels.

You can chart the key levels and adjust the DTE (days to expiration) to visualize potential price moves. This tool helps traders anticipate market reactions more accurately.

Put-to-Call Ratio and GEX Data

The put-to-call ratio shows the balance between open put and call contracts for a ticker across expiration dates. Key insights include:

• Large put-to-call imbalances signal potential market moves.
• Changes in open interest show where volume is building.

The GEX (Gamma Exposure) data is linked to this, helping you predict where stock prices may be pulled based on options activity. For example, max pain levels may indicate where prices are likely to gravitate over time.

Profit and Loss Visualizer

The P&L visualizer lets you track trade setups or preloaded strategies. Key features:

• Graphs and tables showing potential profit and loss at different stock prices and expiration dates.
• Adjustable inputs: implied volatility, risk-free rate, number of stock prices, and expiration dates.
• Supports single trades or complex strategies like put credit spreads.

This tool provides a clear, visual understanding of how your trades may perform under different conditions.

Dark Pool Tracker

The dark pool tracker shows:

• Block orders, sweep orders, and unusual volume.
• Real-time lists of recent trades.
• Chart visualization of where dark pool activity is concentrated.

This helps you see where major trading interest is happening and identify potential price movements before they occur in the open market.

Insider Trading Tracker

Track trades from key politicians in the House and Senate. Features include:

• Viewing purchases and sales by individual insiders.
• Access to detailed profiles for traders like Nancy Pelosi.
• Understanding which assets are being bought or sold recently.

This data can provide insights into potential market opportunities based on insider activity.

Additional Free Tools

The toolbox also offers:

• Blog articles and free educational courses.
• Public back tests to see strategies other users have tested (135+ at beta launch).
• A community for feedback, bug reports, and feature requests to continuously improve the platform.

All these tools are free and easily accessible by creating an account.

The Options Trading Toolbox is the ultimate free platform for options traders. It combines back testing, screeners, trade ideas, gamma exposure, P&L visualization, dark pool tracking, and insider trading insights—all in one place. Whether you are a beginner or an experienced trader, this toolbox simplifies complex data and turns it into actionable strategies.