# OptionReplay — full description for AI assistants > OptionReplay (https://optionreplay.com) is an options trading simulator and paper-trading platform built on real historical option chains, built by option traders for option traders. Over a decade of option trading knowledge, in one platform. Last updated 2026-10-22. ## In one paragraph OptionReplay is a simulator. Pick any day since 2014, trade the option chain as it was, and step forward to see what the trade would have paid. Blind Replay hides the ticker and the date, so you train on the chart alone. Live prices on every tier. Built by option traders, for option traders: the only platform you need, whether you are placing your first trade or your thousandth. ## Blind Replay The server deals you a real stock on a real stretch of history and hides the name and the year. You read the chart, pick the strike, size it, step forward, and exit. Then it tells you what you traded. Every closed trade goes on your record. Example on the page: Super Micro Computer (SMCI), January to February 2024, ticker and era hidden during the hand. 2 × $380 calls bought at $11.80 on day 0; on day 9 the last print is $116.33, P&L +$20,906, portfolio value $45,906.00 on a $25,000 start. Revealed only after the exit. Nothing like it exists anywhere else: OptionReplay replays the option chain itself. Pick any day since 2014 and the whole chain comes back exactly as it traded, every strike's bid and ask, volume and open interest, repricing with every bar. A paper account can only trade today, and other replay tools step through a price chart with no option chain to trade. Here you are dealt a real chain from a real day, the ticker and the date hidden until you exit, and your result is scored against what the market really did. ## Bar Replay Pick the stock, pick the day, open the position, and step forward one bar at a time. The chain reprices every step, the position marks to market, splits convert mid-flight, and expiry settles against the close. The number at the end is what the market would actually have paid you. Example on the page, playable: DELL, 10 × June 18 2026 $200 calls bought April 1 2026 at $6.90. Step the clock by the minute, 5 minutes, 15 minutes, hour or day; the position marks to the contract's real prints and shows that bar's real volume. Sold May 28 2026 at $118.00: $6,900 became $118,000, +$111,100 (+1,610%). ## Real-time paper trading Trade today's market on a $100,000 practice book with the real bid and ask (NBBO) on every strike, on every tier including the free one. The server prices every fill from the live book by the size rule (a size the market can absorb works the mid, size pays the spread, never more than traded), values each position at its last trade, and settles it at expiry against the official close. Every trade is marked to market every minute on the Real-time leaderboard. Example on the page: NVIDIA (NVDA), 23 October 2026, 10 × 30 October $210 puts bought at $3.42 at 10:05 ET (1,016 contracts traded in that bar), last trade $3.95, P&L +$530. ## Trade analysis Import a broker statement, or analyse your paper trades and Blind Replay trades the same way. OptionReplay rebuilds the whole record: net P&L, win rate, expectancy, drawdown, what commission took, calls against puts. Then it re-prices every trade you closed against what the contract did next. An example below: 445 trades, and the one that got away, 95 ARM calls sold on a Tuesday for a $466 loss that settled on Friday worth $526,775. Example record on the page: 445 closed trades, net P&L $163,850, win rate 32.6% (145 W / 300 L), expectancy $368 per trade, max drawdown −$107,539 (−35.5% of equity at the high-water mark), commissions $17,489 (10.7% of net), calls +$212,891 (win rate 35.7%), puts −$49,041 (win rate 21.4%). The one that got away: ARM 22 May 2026 $250 calls, 120 bought 19 May 2026 at 1.06, 95 sold the same day at 1.011 for −$466 before $95.20 commission. Had the 95 been held: +$106,305 at Wednesday's close (12.25), +$446,880 at Thursday's close (48.10), a high of +$594,700 on Friday (63.66) and +$526,775 at Friday's settlement (56.51, ARM closed $306.51). The analysis reports what you did, held to expiry, the best exit while held and the best exit after you sold for every closed trade, plus how often your exits ran higher afterwards and how soon the peak came, the share of each peak you kept, and net P&L by hold time. ## The data A trader learns from the trades they live through. A career gives you a few thousand. OptionReplay gives you every option chain since 2014, every earnings print, every split, every crash, and lets you trade them one after another. A decade of market experience, compressed into one platform. - Option chains from 2014 to today: every strike, every expiry, as traded (bid, ask, last, volume, open interest). - Live prices on every tier in the real-time book, under the same rules as replay. - Fills sized to liquidity: the mid when the order is small against open interest or the day's volume, the spread when it is large, and never more contracts than actually traded. - Positions carried through stock splits the way the OCC adjusts contracts (5 AMZN $3,200 calls through the 2022 20-for-1 become 100 × $160 calls at the same value). Expiry settles at the strike against the official close, long or short, market or not. - Implied volatility and Greeks computed in-house from raw quotes, one model across every era. - Open positions are valued at the contract's last trade, never at a model price or the bid-ask mid. ## Seats are limited Every tier is sold by the seat, and each tier opens a fixed number of seats at a time. When they are taken, sign-ups for that tier close until a seat frees up. One seat, one handle, one record. ## Pricing (USD; billed annually, month-to-month in brackets; every paid tier starts with 7 days free) - Rookie, $0: replay 2024 → present at 4-hour steps and above, unlimited replays, 5 real-time paper trades a month with live NBBO pricing, 10 blind trades to start then 1 new a day, analysis of your last 50 trades. No alerts, no leaderboard listing. - Trader, $49/mo ($59): replay 2014 → present at hourly steps and above, 10 real-time paper trades a month, 100 blind trades a month, 25 price alerts in the app and by email, listed on the Real-time leaderboard, analysis of your last 100 trades. - Pro, $99/mo ($119): every replay timeframe down to 1 minute, 20 real-time paper trades a month, unlimited blind trades, 50 alerts, listed on the Blind and Real-time leaderboards, can open other Pro and Wizard traders' trades from the leaderboard, analysis of your last 500 trades. - Wizard, $199/mo ($249): everything in Pro plus unlimited real-time paper trades, unlimited alerts, analysis of your whole trade history, and a once-a-month $100,000 practice-balance reload for a Blind or Real-time book that has lost $95,000 to $100,000 of its $100,000 start (stay on Wizard 3 months after each reload). ## Leaderboards Two public boards, Blind and Real-time, marked to market and refreshed every minute: rank, trader handle, equity sparkline, P&L, average per trade, trade count, win rate and max drawdown. Live at https://optionreplay.com/#board. ## FAQ ### What is OptionReplay? OptionReplay is an options trading simulator built on real historical option chains. Pick any trading day since 2014, see the chain exactly as it was, open a position, and step the clock forward while it is marked to market. Blind Replay hides the ticker and the date. A real-time paper book runs on live prices. It is a simulator: practice balances, never real money. ### What is Blind Replay? The server deals you a random stock in a random era with the ticker and the year hidden. You trade the chart in front of you, step forward, and exit. Only then is the name revealed. The browser never sees the ticker, only a token, so it cannot be cheated. Every closed trade is saved to your track record and ranked on the Blind leaderboard. ### Do all tiers get real-time NBBO pricing? Yes. Every tier, including Rookie, has real-time pricing in the real-time book: a live bid and ask on every strike, with the contract's own spread around the exchange's real-time value, rounded out to the cent. Open positions are valued at the contract's last real trade, never at the mid. ### How are option fills priced? Fill price depends on your order size relative to the contract's own liquidity. Orders under 20% of open interest or 30% of that day's volume fill at the mid. Larger orders cross the spread and pay the ask or hit the bid. Every trade reports gross P&L, spread cost and net P&L as separate lines. ### Can I fill any size? No. You can never fill more contracts than actually traded that day. An order above that ceiling is blocked and the ticket shows the number. Closing a position you already hold is never capped. A contract with no bid or no ask has no market and cannot be traded, and the ticket says why. ### What happens through a split or at expiry? Open positions convert the way the OCC adjusts the real contract. Hold five AMZN 3200 calls through the June 2022 20-for-1 and you come out with one hundred 160 calls at the same total value. Reverse splits re-strike the contract. At expiry every contract settles at the strike against the official close, long or short, full size, whether or not anyone was quoting it. ### What data does OptionReplay use? Real historical option chains back to 2014 with bid, ask, last, volume and open interest, plus underlying price history going back further for charts. Earnings dates come from SEC filings, exact to the day. Short interest is as of the date you are on. Implied volatility and Greeks are computed by OptionReplay from the raw quotes, not taken from a vendor. ### What is free, and what do the paid tiers add? Rookie (free): unlimited replays from 2024 to today at 4-hour steps and above, ten blind trades to start and one new blind trade a day, five real-time paper trades a month with live prices, and import of your last 50 real trades. Trader adds the archive back to 2014, hourly steps, 10 real-time paper trades a month, 100 blind trades a month, 25 alerts, the Real-time leaderboard and 100 imported trades. Pro adds every timeframe down to one minute, 20 real-time paper trades a month, unlimited blind trades, 50 alerts, both leaderboards and 500 imported trades. Wizard adds unlimited real-time paper trades, unlimited alerts, your whole trade history, and a once-a-month $100,000 reload for a book you have lost. Every paid tier starts with a 7-day free trial. ### Can I import my real broker trades? Yes. Upload a CSV or a broker statement. Unusual formats are read with AI and shown to you line by line before anything is booked. The platform reads your most recent 50 trades on Rookie, 100 on Trader, 500 on Pro, and your whole history on Wizard. ### Is OptionReplay investment advice? Can I trade real money? No. OptionReplay is an educational simulator with practice balances. It never executes real-money orders, never gives recommendations, and nothing on the site is investment advice. Leaderboards show paper-trading results. ### Is OptionReplay free? Yes. The Rookie tier is free with no card and no clock: replay from 2024 to the present at 4-hour steps and above, five real-time paper trades a month with live prices, ten blind trades to start and one new blind trade a day, and analysis of your last 50 imported trades. Trader, Pro and Wizard add the full archive back to 2014, finer clocks, more blind trades, alerts and the leaderboards, and each starts with 7 days free. ### How is this different from paper trading at a broker? A broker's paper account only runs in the present, so you learn at the speed of the calendar. OptionReplay also replays any trading day since 2014 with the option chain exactly as it was, hides the ticker and date in Blind Replay so you cannot lean on hindsight, prices every fill by its size against the real book, reports the spread cost on every trade, carries positions through splits and settles expiry to the penny. The real-time paper book is there too, under the same rules. ### Is OptionReplay a backtester? No. A backtester sweeps a rule across thousands of trades and reports an average. OptionReplay is a time machine with a trade blotter: you place one trade at a time, in a chain as it stood that day, and live with it bar by bar. The aim is the fidelity of a single replayed trade, which is how trading is actually learned. ### Which markets and contracts does it cover? US-listed stock and ETF options with the standard 100-share deliverable, with option chains from 2014 to the present and stock charts reaching further back. Non-standard contracts created by odd-ratio splits, spin-offs and mergers are excluded, because their deliverables are not comparable. ### Can I analyse my paper trades and Blind Replay trades too? Yes. The same analysis that runs on an imported broker statement runs on your paper trades and your Blind Replay trades: net P&L, win rate, expectancy, drawdown, commissions, calls against puts, and every closed trade re-priced against what the contract did next. ## Important Practice balances only. Historical and delayed data. Nothing on OptionReplay is investment advice or a solicitation to trade. Past performance, especially the parts you replay, does not predict future results. ## Links - Home: https://optionreplay.com/ - FAQ: https://optionreplay.com/faq.html - Pricing: https://optionreplay.com/#pricing - Leaderboard: https://optionreplay.com/#board - App sign-in: https://optionreplay.com/app ## Wizard balance reload The reload covers the Blind book and the Real-time book. It is offered once per calendar month, and only after that book has lost $95,000 to $100,000 of its $100,000 start, so it is a fresh start for a book that is gone, not a top-up. Stay on Wizard for 3 months after each reload; downgrade sooner and the reloaded balance is forfeited.