Ours is not free, and if free is your only requirement you should try Streak first. Streak is free for Zerodha customers, and Zerodha's own January 2024 announcement included options backtests on a daily allowance. Streak has relaunched as a beta since, and whether today's version backtests options is not stated on any page of theirs we can read, so check it in your own account before you rely on it. EdgeTest charges for options backtesting. Saying otherwise would waste your time and ours.
What follows is what each platform actually covers, because "free options backtesting" turns out to mean four different things depending on who is offering it.
What is on offer
| Platform | Options backtesting | Free tier | Price |
|---|---|---|---|
| Streak | Not publishedZerodha's January 2024 post says both that users could run up to 50 backtests a day on dynamic options contracts and that the new streak.tech platform did not yet support dynamic contracts. Streak has since relaunched as a beta, and whether it backtests options today is not stated on any page of theirs we can read. | Free for all Zerodha customers, with unlimited equity backtestsZerodha Z-Connect, 17 Jan 2024 | Not publishedThird-party reviews say Rs 350 to Rs 1,400 a month. Zerodha's own post says free for their customers, and streak.tech carries no public pricing page at all - checked by hand on 9 Sep. Two sources disagree and neither is checkable, so we publish no price for Streak. |
| Sensibull | No backtesting or historical simulator at allSensibull's own help centre, 1 Jan 2024 | Not checked | Not checked |
| AlgoTest | Not checked | Not publishedTheir blog says 25 backtests a week, permanent. Their own pricing page shows no free tier at all on any of its four tabs. Withheld until one of them is confirmed by signing up. | Backtesting is sold as a window, not a subscription: Rs 599 for 7 days, Rs 1,499 for 30, Rs 3,499 for 90, Rs 5,999 for 180, all with unlimited runs inside it. Or 1 credit per backtest with no expiry. Their Rs 499 a month plan is ClickTrade, which is live tradingAlgoTest's own pricing page, 9 Sept 2026 |
| StockMock | Not checked | Not publishedNo free tier appears on their plans page. Absence on a page is not proof, so not published. | Two separate products. Analytics, meaning the simulator, builder and charts: Rs 349 for 30 days, Rs 1,599 for 180, Rs 2,599 for 360. Backtesting is its own window: Rs 449 for 7 days, Rs 1,299 for 28, Rs 2,999 for 84. All plus 18% GSTStockMock's own plans page, 9 Sept 2026 |
The row worth pausing on is Sensibull's. Sensibull is the biggest name in this category and it has no backtesting at all - their own help centre says so in as many words. That is not a criticism; they are an options analytics and execution product and they are very good at it. But if you arrived at Sensibull looking to test a strategy against history, it is not a feature that exists, free or paid.
The four things "free options backtesting" can mean
Free because your broker pays for it. Streak for Zerodha customers. Real and unlimited on equities; on options, announced with a daily cap in 2024 and unconfirmed on the current beta. If you have the account, it costs nothing to find out, and it is the best free offer in the market.
Free inside a trial. Ends. Useful for evaluating, not for working.
Free because the tool does not do it. Sensibull's option chain, payoffs and Greeks are free to look at, and none of it is a backtest.
Free at a shallow depth. The most common shape, and the one where the limit is not the price but the history. A strategy tested only on recent expiries has not met a volatility spike.
Why we charge for it, stated plainly
Options backtesting is on our paid tier and equity backtesting is not. The reason is what sits behind it rather than what it costs us to run: Index options from 2016 for NIFTY and BANKNIFTY, 2021 for FINNIFTY, 2022 for MIDCPNIFTY and 2024 for NIFTY Next 50
The free plan gives Unlimited backtests on the free plan. What Free limits is DATA - three years, the Nifty 50, no options - never the number of runs Options are excluded from it entirely. The pricing page has the split, and there is a seven day trial of the middle tier so you can see the depth before paying for it.
What is free here without any account at all is the whole options data surface: the live chain, max pain, put-call ratio, OI walls and expected move for five indices, and the same on every F&O stock.
The caveat that applies to every options backtest on this list
Ours checks its rules once a day on the settle price, except on one index where minute testing is available: Options rules are checked once a day on the settle price, except for minute testing on one index
This is the single biggest reason a backtest and a live trade disagree, and it is worth asking of any platform you evaluate. A stop loss checked once at the close will book the close, not the level it was supposed to fire at. AlgoTest is intraday-first and is genuinely better on this axis.
Can I backtest an options strategy for free in India?
Possibly, if you have a Zerodha account: Streak is free for Zerodha customers and announced options backtests on a daily allowance in 2024, though the current beta does not say whether it still offers them. Otherwise the honest answer is mostly no. Most platforms sell options backtesting, either as a subscription or as a rented window of unlimited runs, and one of the largest options platforms does not offer it at all.
Does Streak support options backtesting?
Zerodha's January 2024 announcement gave Zerodha customers options backtests on a daily allowance, and in the same post said the new streak.tech platform did not yet support picking strikes automatically. Streak has since relaunched as a beta, and whether today's version backtests options is not stated on any page of theirs we can read. If you have a Zerodha account, check inside it; it costs nothing to find out.
Does Sensibull have backtesting?
No. Their own help centre states they have no back-testing or historical options simulator. They are an analytics and execution product: live option chain, strategy payoffs, Greeks and order placement through a broker.
How far back should options history go to be useful?
Far enough to include a volatility spike. Testing a premium-selling strategy only on calm expiries tells you what it earns and nothing about what it gives back, and that is the number that decides whether it is tradeable. Ask any platform for its start date per index rather than one figure, since the contracts themselves began at different times.
What does EdgeTest give away free on the options side?
All of the data, none of the backtesting. The chain, max pain, put-call ratio, OI walls, expected move and the straddle decay grid are open with no account. Running a strategy against ten years of that history is the paid part.