Where does your options premium live?
If you sell covered calls or cash-secured puts while your dividends live in Snowball Analytics, I can guess. The dividends get a calendar, growth charts, and a rating on every payer. The premium, which for some sellers is most of their income, gets a spreadsheet.
Most people searching for a Snowball Analytics alternative are not unhappy with Snowball. They hit the edge of what it models. Snowball is a strong tracker, and this page will not pretend otherwise. Where it beats OMM, I say so plainly, because a comparison you cannot trust is worth nothing.
But Snowball does not track options income. If you run the wheel, that one gap splits your book across two tools and hides the number you care about most. What did everything together pay you?
What Snowball does well
Credit first. Snowball's dividend engine is deep. Forward income, dividend growth, yield and yield on cost, a rating on every payer, a calendar of projected payouts, even withholding tax on foreign holdings. If dividends are your whole strategy, it is hard to outgrow.
The portfolio side is serious too. Time-weighted return and IRR, beta, Sharpe, realized P&L, and benchmarking against the S&P 500, NASDAQ, FTSE, and TSX.
Then the conveniences. Snowball connects to more than 1,000 brokers, so positions update themselves. Its asset coverage runs from stocks and ETFs through funds, bonds, crypto, currencies, commodities, and real estate, with cash and custom entries for whatever is left.
None of that is the gap. The gap opens the day you sell your first covered call.
Sell one covered call and the book splits
Snowball has no concept of an options position. Open a cash-secured put and there is nowhere to record it, because the model has nothing to attach it to. No premium received, no buyback, no assignment.
So sellers improvise. Usually a spreadsheet, sometimes a second app built only for options. Either way your income now lives in two places, and the two never meet. Say your dividend tracker shows $412 for March and your sheet shows $360 of premium. Made-up numbers, but you see the problem. No screen anywhere adds the month up, and no screen tells you what the whole strategy earned on the capital it used.
The spreadsheet half also tends to flatter you. Most sheets total the premium collected and stop. Buybacks, assignment losses, and the collateral you had to reserve never make it into the math.
How OMM measures the options half
OMM is an options income portfolio tracker. Covered calls and cash-secured puts are real positions, tracked from open through every roll to expiry, assignment, or close, with cost basis adjusting at each step and every fee subtracted.
The scoring is the part your spreadsheet gets wrong. OMM measures the strategy with ROCAR, the return on capital at risk. Your net realized P&L divided by the capital each position tied up. Buybacks come out of the numerator. Assignment keeps the full collateral tied up, so it stays in the capital you are measured against. A cash-secured put is measured against the cash that secured it, a covered call against the cost basis of the shares behind it. OMM reports it as an average monthly figure over the window you choose and never annualizes it, because one good week multiplied by 52 is a daydream.
You can read it at the portfolio level, split by strategy so you know whether the calls or the puts are pulling the weight, and per ticker, which is where most sellers find a surprise.
One ledger, two return numbers
Dividends and premium land in the same ledger. What did the whole book pay you in March? One screen answers it.
Returns stay separate on purpose. Dividends and price gains resolve into a time-weighted total return, charted against the S&P 500. Options income is measured by ROCAR beside it. OMM never adds the two into one figure, because premium earned on reserved collateral and growth on invested capital answer different questions. Blend them and the blended number answers neither.
One honest note in the other direction. Snowball reports both TWR and IRR at the portfolio level. OMM's portfolio headline is TWR, and XIRR appears per holding. If a single portfolio-wide money-weighted return matters to you, that is a point for Snowball.
Do you need a Snowball Analytics alternative at all?
Not everyone reading this should switch.
If you do not sell options, stay with Snowball. OMM would give you dividend tracking, safety grades, and a clean total return, but Snowball gives you those with more depth and a broker connection on top.
If your money spreads across bonds, funds, crypto, commodities, or property, Snowball handles all of it. OMM tracks stocks, ETFs, options, and cash.
If manual entry is a dealbreaker, that decides it too. Snowball syncs from more than 1,000 brokers. In OMM you add positions yourself, which keeps your brokerage credentials out of the picture entirely, but the convenience gap is real. Weigh it.
The investor OMM was built for sells options against the same book that pays the dividends. For that investor, Snowball measures half the income. OMM measures both halves, side by side, and keeps the total return honest while it does it.
Verdict
The call, as plainly as I can make it.
If you hold dividend stocks and do not sell options, choose Snowball. It connects to your broker, covers nearly every asset class you might own, and its dividend analytics run deeper than OMM's. For that investor it is the better product, and nothing on this page argues otherwise.
If you sell options, choose OMM. Every covered call and cash-secured put is tracked through its full lifecycle, ROCAR shows what the strategy earned on the capital it tied up, and your dividends sit beside your premium under a total return that never swallows either. Snowball cannot see this half of your book at all.
Torn? Both have free plans capped at ten holdings. Load the same positions into each and give it a month. By the second week, one of them will already be showing you a number the other cannot.