Backtest
US Options with
Institutional-Grade
Precision
Real-time feeds, historical data, expert roll management, and accounting accurate to the cent. The platform that respects the mathematical reality of your trades.
18 US Option Exchanges
Lonqua provides comprehensive data coverage of the US options market. We include real-time and historical pricing directly from all 18 US option exchanges. This data empowers both retail and professional traders with the resources needed to optimize trading strategies and conduct in-depth market analysis.
thetadata
Our institutional-grade data is provided by ThetaData
18
18 US Option Exchanges
We aggregate the entire US exchange landscape to capture full liquidity, ensuring you never miss an opportunity.
8
Years of Historical Data
Stress-test your strategies across full market cycles, including major financial crises, to ensure robustness.
5
5-Minute Granularity
Our historical data features actual Bid/Ask spreads and Greeks at 5-minute intervals for ultra-realistic execution simulation.
100 %
OPRA Source Data
Your backtests run on official historical data from OPRA (Options Price Reporting Authority), guaranteeing maximum reliability.
+5000
Symbols Available in Real-Time
A vast universe covering stocks, ETFs and indices for maximum diversification in your tests.
10
Symbols in Backtesting
Backtest the most liquid underlyings on the US market. Our catalog is continuously expanding to provide you with an ever-growing testing universe.
What you're about to discover is just a glimpse
The demo below only scratches the surface. The real experience awaits: one year of SPY backtesting, strategy simulations on 15-min delayed data, Greeks and P&L calculated continuously — no credit card required, free forever.
See Where Institutional Money Flows
Unlike traditional screeners limited to volume and price, Flow Radar analyzes every options transaction in real-time across the entire US market. It detects two types of signals: UOA (Unusual Options Activity) spots abnormal volume on specific contracts, and DAF (Delta-Adjusted Flow) measures the net directional pressure from institutional order flow. An observation tool that shows what is happening, not what will happen.
Flow Radar
Real-time UOA & Delta-Adjusted Flow
Updated: 1:47:49 PM
LQ-Score:
Beyond Technical Analysis
Unlike traditional technical indicators that analyze past price movements, the LQ-Score leverages real-time options data — where institutions and market makers are positioning right now. A composite 0-100 score calculated from 5 indicators: institutional flow, market maker gamma/delta exposure, implied sentiment, volatility structure, and open interest positioning. Short term (1-5 days) and medium term (2-8 weeks).
Lonqua Score
Options-based medium-term signal (2-8 weeks)
KO$77.48
Near: 2026-03-20 (11 DTE) — Far: 2026-04-10 (32 DTE)
TARGET ZONES
Confluence-based price targets
Updated: 1:47:49 PM
32 Strategies: Explained and Ready to Deploy.
Stop wasting time searching for the right setup. Our platform features a comprehensive library of 32 pre-built option strategies, ranging from the classics to the most advanced.
Each strategy comes with a clear explanatory guide, a visual risk profile, and key characteristics. Learn by doing and deploy the right strategy at the right time, with total confidence.
End "Rollover" Stress. Experience Absolute Clarity.
Expiration is approaching, and you need to adjust a complex position. This is often when doubt creeps in: "Where do I really stand long-term? Am I about to make an input error on these 4 new legs?"
This lack of visibility and the complexity of the operation generate unnecessary stress and lead to costly mistakes.
Our platform changes the game.
Total Visibility:
Our chart projects the Cumulative P&L of your entire strategy from day one. You see exactly where you stand, without the need for tedious manual bookkeeping.
Execution Simplicity:
Even the most complex strategies (Iron Condors, Calendars, Butterflies...) can be rolled in just a few clicks.
You can now execute your adjustments with peace of mind, confident that you are no longer flying blind.
The Academy
UNDERSTAND OPTIONS AND LEARN TO TRADE SMARTER.
The Fascinating History of Options: From Ancient Greece to Wall Street
Long before the digital age and high-speed derivatives markets, the concept of options existed in antiquity. One of the earliest documented examples comes from the Greek philosopher Thales of Miletus in the 6th century B.C.
Thales, renowned for his skills in astronomy, predicted an exceptional olive harvest. Owning neither farmland nor presses, he devised an ingenious plan: paying a small sum in advance to secure the exclusive rights to several olive presses well before the harvest season. When olive production peaked, demand for the presses surged, and Thales turned a significant profit by renting them out at a premium.
This visionary move embodies the fundamental principle of a Call option: the right, but not the obligation, to control an asset at a pre-determined price.
Options Overview
A clear introduction to option contracts: what they are, their mechanics, and their role in financial markets.
Discover the Basics of Options
Everything you need to know to get started in the world of options: contract types, basic concepts, and how a standardized contract works.
Definition of an Option
A detailed definition of an options contract, distinguishing between Calls and Puts, and explaining the role of the underlying asset, the expiration date, and the strike price.
The Fundamentals of Options
An introduction to LEAPS® (Long-Term Equity Anticipation Securities), long-term options that enable extended investment strategies.
Financial Leverage and Risk Management
An analysis of the multiplier effect of options and how they can be used to manage or increase the risk of a portfolio.
Exercising an Option
Everything about exercising options: when and how an option is exercised, the difference between automatic and manual exercise, and the consequences for the trader.
Benefits and Risks of Options
The potential benefits (hedging, speculation, income generation) as well as the associated risks (maximum loss, complexity, liquidity).
How Option Pricing Is Calculated
Discover the mechanisms behind option valuation: intrinsic value, time value, implied volatility, and an introduction to the Black-Scholes model.
Time Value Versus Delta Effect
Understand how time (Theta) erodes the value of options and how it interacts with the underlying asset's movement (Delta), particularly with long expirations.
Strategies
Bullish Anticipation Strategies
Bearish Anticipation Strategies
Neutral View Strategies
Hedging a Stock Position
Acquire Stocks at a Reduced Price
Generate Regular Income
Anticipate a Decrease in Implied Volatility
Anticipate an Increase in Implied Volatility
Anticipate a Sharp Movement (High Variation)
Earn Monthly Income with the Wheel Strategy
Buy Your Stocks at Bargain Prices Like Warren Buffett
Repair a Losing Position Without Spending Another Cent
Buy Options on Indices (Calls & Puts)
S&P 500
NASDAQ
RUSSELL
DOW JONES
DELTA
GAMMA
THETA
v
VEGA
RHO
C = S₀N(d₁) − Xe−rTN(d₂)
BLACK-SCHOLES
OPTIONS ON INDICES
ANALYZING THE GREEKS TOGETHER
VOLATILITY AND IMPACT ON THE GREEKS
UNDERSTANDING PUT/CALL PARITY
EQUITY OPTIONS
UNDERSTANDING THE OPTION GREEKS
when you learn to see it differently."
