Market Chameleon Review 2022: Is This Trading Tool Right for You?

GOBankingRates Score

4.1
SCORE
GOBankingRates Best Banks 2023 scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks.
Quick Take: Market Chameleon is a powerful research platform that traders and investors can use to uncover trading opportunities. The platform has plenty of helpful tools and scanners that cover the market as a whole. There's also a free 7-day trial available for all of Market Chameleon's premium plans.
  • Features
    4.0
  • Ease of Use
    4.5
  • Price
    3.9
  • Earnings
    3.9
How did we calculate this?

Pros

  • Free 7-day trial
  • Good selection of free options screeners
  • Option to create watchlists for various data points
  • Historical performance data available

Cons

  • Clunky interface
  • No mobile app
  • 15-minute market delay

Market Chameleon Overview

Market Chameleon is a trading research platform for uncovering U.S. stock and options trading opportunities. The platform has a plethora of tools that investors and traders can use to analyze trade strategies. Some of Market Chameleon’s most powerful tools include stock and options screeners, earnings research and volume reports.

Key Features

Market Chameleon earned a score of 4.0 out of 5 from GOBankingRates. Here are the factors that earned its rating.

Features

Market Chameleon has a ton of features for savvy investors to utilize, including stock, options and earnings research. It also offers newsletters and custom stock watchlists. However, these tools have distinct access points based on the plan you choose. Here’s what you can expect with this platform.

Stock Research

The Market Chameleon stock trader tool comes with plenty of features. For instance, traders can see premarket trading stocks that trade prior to the market opening each day and also the Gap Up and Gap Down historical view, which details the historical price gaps of stocks and helps traders understand typical market reaction to the price gaps in those specific stocks.

Traders can use the after-hours search feature to find stocks with the highest after-hours trading activity and price impacts to help them plan for the next trading day. They can also view outperforming stocks in the market, top gainers and losers for the trading session, market movers and stocks with unusual trading volume.

The platform also lets traders who opt for a premium subscription to look at market order imbalances for all stocks per trading day. Screeners are also available for event-driven stocks, insider trades, significant money stock flow and seasonal patterns for individual stocks.

Options Research

Market Chameleon has a flexible research tool for investors looking for options trading opportunities. This research tool has lots of invaluable features that options traders can use to improve their strategies. For example, the unusual options volume scanner allows traders to find stocks with higher trading volumes than expected.

The platform also has an interest scanner that displays stocks with high, moderate or low implied volatility for the current trading day. You can also view the top bullish and bearish stocks in the market with the order flow screener.

The options research tool comes with many other screeners for premium users, including vertical spreads, single-leg strategies, butterfly, condor, volatility, conversion and reversals. Each screener is designed to help you generate maximum profits by refining your trading strategy.

Earnings Research

Market Chameleon has a comprehensive earnings calendar to help you find several opportunities during and after earnings reports. The calendar displays overvalued and undervalued stocks around the period of the earnings release.

The calendar also includes earnings based on stock and options screeners, which can help users find lucrative opportunities. What’s more, you can customize this tool to meet your desired needs. For example, you can choose to look at earnings for stocks within your watchlist or stocks with earnings released on a specific date.

You can also opt for the paid subscription for premium users and gain access to many other features besides the calendar, including the following:

  • Forward-Looking Earnings Dates Report: A comprehensive report on the next earnings date for all symbols. Not only does the report feature earnings dates and times, but you can also see conference call information and market moves that are expected. You can also compare the information to previous earning releases.
  • Earnings Stock Pattern Screener: This premium screener makes it easy for traders to screen over 3,500 symbols for data on stock price performance related to earnings. Use a variety of filtered search features, including timeframe, earnings date, earnings time, win rate, average return, median return, best return, worst return and more.
  • Earnings Option Strategy Backtest Screener: This screener allows traders to compare over 30 different earnings option strategies, including performance stats for the previous 12 quarters of earnings releases. Strategies are backtested in various time periods, such as before or after earnings or earnings over the course of the day. Options strategies that traders can choose from include single-leg and multi-leg strategies, vertical spreads, time spreads, buy-writes, straddles and strangles.
  • Today’s Opportunities: Using this screener, traders can identify the option strategies that had the most profitable trading results and highest win rates during the earnings season. Traders can also view current market data for things like strike prices and market prices.
  • Company-Issued Earnings Outlook: Traders can use this report to find stocks with earnings outlooks, including revenues and earnings growth.

Custom Stock Watchlists

The Market Chameleon platform offers the ability to create a vast number of watchlists. You can personalize your watchlists based on the stocks and options you’re interested in. In addition, you can customize email alerts based on your watchlist.

Newsletters

This is a free tool for every plan Market Chameleon offers. This feature pulls press releases for various companies, so you get all the information you need. Plus, you can filter the newsletters you receive based on your watchlist. All you have to do is enter your email address to receive the free daily email newsletters of your choosing: Premarket Movers, Earnings Alerts or Option Order Flow Sentiment.

Ease of Use

Newbies will find that higher-tier options are better suited for experienced traders. Additionally, depending on what features you use, it’s much more convenient to use a PC for viewing than your mobile device. Otherwise, you’ll find yourself consistently scrolling from right to left and vice versa to read the charts.

Price 

Market Chameleon offers five pricing tiers, which helps if you aren’t interested in some of its features. For example, it offers a basic Starter option for free, which allows access to stock tracking, dividend announcements and newsletters. To gain access to stock trading, however, you’ll have to pay at least $39 per month, and to gain access to everything the platform offers, you’ll pay $99 per month.

The five pricing tiers are Starter, Stock Trader, Options Trader, Earnings Trader and Total Access. The Starter plan offers free access with a few basic features, but you can still track your preferred stocks and get newsletters.

Service Level Price Features
Starter $0 – Dividend announcements intraday
– Stock tracking
– Newsletter
Stock Trader $39/month – All stock and options research tools available
– Dividend suite
– Newsletter
Options Trader $69/month – Options research platform
– Research tools for the options market
– Newsletter
Earnings Trader $79/month – Earnings-based research tools
– One-of-a-kind reports and screeners
– Newsletter
Total Access $99/month – Full suite of products and tools available
– All reports and screeners unlocked
– Newsletter

At $39 per month, you can access the Stock Trader tier, which provides most of the features and tools you need as a new trader. However, it has limited access to earnings and options research tools.

If you’re looking for a plan that offers access to nearly all the tools Market Chameleon provides, you may want to consider Options Trader or Earnings Trader, which cost $69 per month and $79 per month, respectively.

The Total Access plan comes at a higher cost compared to other tiers. At $99 per month, you’ll get access to every product Market Chameleon offers.

Cancellation Policy

If you decide that the Market Chameleon paid plan you signed up for is not right for you, the company makes it easy for you to cancel right from your account. Log in to your account and navigate to “Manage my subscriptions.” Then, select your subscription and confirm the cancellation.

Earnings

It’s impossible to guarantee earnings from investing, but Market Chameleon provides plenty of tools to help you invest wisely to maximize your potential earnings.

In addition to the tools listed above, Market Chameleon has a comprehensive earnings calendar with information on overvalued and undervalued stocks that all users can access. It also has earnings data based on stock and options screeners and other options for earnings analysis and insights if you’re a premium user.

How Market Chameleon Stands Out

Market Chameleon offers subscribers access to a wide breadth of historical, current and forward-looking stock and options data and analysis tools at affordable monthly rates. The options volume scanner, in particular, is an unusual tool.

Comparable Options

Market Chameleon isn’t the only trading tool out there. Here is some information on a couple of comparable options.

MarketBeat

MarketBeat offers a comprehensive suite of real-time stock data, detailed analysis and top-rated stock research tools. Users may find MarketBeat to be a more affordable option than Market Chameleon for their needs. The platform’s All Access option, which is a comprehensive stock research solution, is $399 per year. It also offers a 30-day free trial to test-drive the platform, as compared to Market Chameleon’s much shorter seven-day trial.

Finviz

Finviz offers two plan options: Free and Elite. However, there is no free trial offered as with other services. The free plan offers plenty of features, such as a comprehensive stock screener with a variety of filters, news, maps and groups, a portfolio tool, insider trading data and more — but you’ll have to deal with ads.

The Elite option features an ad-free layout for $39.50 monthly or 299.50 annually. Features in the Elite tier include premarket, real-time and aftermarket data, advanced charts, advanced screeners, backtests, correlations and alerts and notifications for individual stocks and portfolios.

Who Market Chameleon Is Best For

While Market Chameleon provides comprehensive tools, it would be best to have prior knowledge of stocks and options in order to parse all of the information effectively. Otherwise, the learning curve will be very steep, and you might be better off with a less involved platform.

Final Take

Whether you’re a stock trader or options trader, Market Chameleon can help you scale your trading. If you’re hesitant about investing in this platform, there’s a 7-day free trial for all of its premium plans. You can also choose a plan that suits your needs based on the many features offered. This will help you figure out if the platform provides adequate value for your money.

Market Chameleon definitely caters more to people who have been trading stocks and options for a while. It will be pretty hard to get the most out of your subscription if you’re a new trader, but the trial option provides a risk-free route into the platform for the curious.

FAQ

Here are the answers to some of the most frequently asked questions regarding Market Chameleon.
  • Is Market Chameleon delayed?
    • Yes, Market Chameleon has a minimal market delay of approximately 15 minutes.
  • Is Market Chameleon worth it?
    • Whether or not Market Chameleon will be worth it to you depends on your goals and experience level as a trader. You can explore the free features and then try out the platform by opting for the free seven-day trial.
  • What is IV30?
    • IV30 stands for 30-day implied volatility. Market Chameleon uses IV30 to indicate the number of days in the past year that had a lower 30-day implied volatility than the current value.

Lydia Kibet contributed to the reporting for this article.

Information is accurate as of Nov. 29, 2022, and is subject to change.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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