Optionality – Re-Imagining Options Trading
"Why does the options trading process continue to be so complicated for retail traders?" thought Alec Baum and Adam Castelbaum, co-founders of Optionality. The co-founders and lifelong friends noticed that adjacent industries had nailed user-friendly mobile experiences. And in their social circles, they saw the trend in more people wanting to jump into the stock market, particularly options trading.
Legacy systems were built more for professional options traders, said Baum – an issue he said intimidated and frustrated new and casual options traders. So, they sought to build a simple, user friendly mobile experience for options trading, and in the summer of 2020, Optionality was founded.
"Optionality re-imagines the entire trading process for casual traders," Baum said. Using Optionality, users are able to compare multiple, potential trades in a pre-packaged menu, pre-filtered for liquidity and expiration.
"Our proprietary mobile platform is focused on increasing the transparency and accessibility of the options trading space, while at the same time providing helpful and useful data," Castelbaum said.
Optionality subscribes to Cboe EDGX Exchange data to help provide that transparency to users. "Speed and accuracy are everything, so using Cboe's real-time market data allows us to show our users accurate prices so they can remain agile and in tune with the market," Baum said.
Optionality is driven to create the optimal user experience no matter the user's risk tolerance. "We feature a menu of pre-packaged spreads to help casual traders, and for users with more active positions, we have built proprietary 'auto-close technology' to help automatically close positions prior to expiration," Baum said.
Additionally, there is no shortage of new features the Optionality team is developing. "We are already hard at work on community engagement upgrades like and in-app chat, and market expansion opportunities, like cryptocurrency," Baum said.
The Optionality team feels fortunate to have passionate employees and helpful advisors that have established a fun and collaborative workplace culture.
Optionality is available on iOS and Android via the Apple or Google Play store, respectively. You can learn more about Optionality by following them on Instagram @optionalityapp.