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§14 OPTIONS_CHAIN

OVERVIEW

A live US options chain for any listed underlying. Calls display on the left, puts on the right, strikes sorted ascending, with ITM contracts tinted for instant orientation. Three modes operate under a single symbol input.

Tapeboard OPTIONS_CHAIN

Mode Purpose
CHAIN Raw strike grid for a selected expiration
STRATEGY_BUILDER Multi-leg trade modeler with payoff diagram and Greeks
ANALYTICS IV summary, put/call gauges, and volatility smile

Note

All three modes are Free. Options Flow (sweep and block detection) and Gamma Exposure (dealer positioning) are separate Pro surfaces.

OPENING THE PAGE

Method Detail
Default URL /options — loads AAPL by default
Direct ticker /options/TSLA — jumps straight to a symbol
Symbol input Type a ticker in the SYMBOL box and click LOAD; URL updates to ?symbol=…
Command palette ⌘K → type options
Sidebar Reachable from the main navigation sidebar

Note

The page is public and auth-optional. Anonymous visitors are served from cache — a cold or rarely-requested symbol may return empty for a logged-out guest because guests do not trigger a live fetch. Sign in (Free tier is sufficient) to force a live pull on any symbol.

FEATURES

Option Chain

The CHAIN tab renders two synchronized grids — CALLS (green dot, left) and PUTS (red dot, right) — for a single selected expiration. Each grid header shows the contract count for that expiry.

  • Strikes run ascending top to bottom
  • ITM rows are bolded and tinted — faint green for ITM calls, faint red for ITM puts
  • The money line is visible at a glance without manual scanning

Columns

Column Description
STRIKE Contract strike price
LAST Last traded premium
BID Current best bid
ASK Current best ask
NET Net change from prior close
%CHG Percent change from prior close
VOL Session volume for this contract
OI Open interest as of prior close (hidden on mobile)
IV Implied volatility

Note

Per-contract Greeks (delta, gamma, theta, vega) are not included in the chain grid. Greeks shown in the Strategy Builder are model-estimated, not live market data.

Expirations

The pill row beneath the tab bar lists up to 12 listed expirations, nearest first. The closest expiry is selected on load. Click any pill to refilter both grids to that date. Expirations beyond the 12th exist in the underlying data but are not selectable from this row. The picker scrolls horizontally on narrow screens.

Summary Strip

A summary strip below the grid displays aggregated data for the loaded expiry:

  • Total call volume and total put volume
  • Put/call volume ratio
  • Total call open interest and total put open interest

Strategy Builder

The STRATEGY_BUILDER tab provides a multi-leg trade modeler. Use it to define a position and read risk metrics and a payoff curve before placing anything.

Presets

Click a preset to populate legs automatically:

  • Covered Call
  • Bull Call Spread
  • Iron Condor
  • Straddle
  • Butterfly

Manual Legs

Click Add Leg and configure each leg individually:

Field Options
Type Call / Put
Side Buy / Sell
Strike Any listed strike
Premium Auto-filled or manual override
Quantity Number of contracts

Underlying Price

The Underlying price field in the builder header auto-fills from the live quote. Override it to model a what-if scenario at a different spot price.

Analysis Panel

Output Description
Max Profit Maximum gain at expiration
Max Loss Maximum loss at expiration
Net Cost Net debit or credit for the position
Break-evens Price levels where P&L equals zero
Greeks (Δ/Γ/Θ/ν) Model-estimated combined Greeks for the full position

P&L Diagram

The P&L AT EXPIRATION payoff diagram plots the combined position value across the strike range. Green areas indicate profit, red areas indicate loss, and yellow dashed lines mark break-even prices.

Analytics

The ANALYTICS tab provides a chain-level read on implied volatility and sentiment without requiring manual reconstruction.

Section Detail
IV Summary ATM call IV, ATM put IV, and average IV across the loaded chain
Volume Gauge Put/call volume ratio tagged Bullish, Neutral, or Bearish
Open Interest Gauge Put/call OI ratio tagged Bullish, Neutral, or Bearish
Volatility Smile Strike on x-axis, IV on y-axis; calls plotted green, puts plotted red

HOW TO USE

Scan the chain

  1. Open /options. AAPL loads by default, or navigate to /options/TSLA for a specific ticker.
  2. Click an expiration pill to filter both grids to that date. The nearest expiry is selected automatically.
  3. Read the strike ladder on the CHAIN tab — identify where premium is concentrated, where the bid/ask spread is wide, and where open interest is stacked.
  4. Check the summary strip below the grid for the aggregate put/call volume ratio and open interest totals.

Model a trade

  1. Switch to the STRATEGY_BUILDER tab.
  2. Click a preset or click Add Leg to build a custom structure.
  3. Confirm the Underlying price or override it for a what-if scenario.
  4. Review Max Profit, Max Loss, Net Cost, and Break-evens in the Analysis panel.
  5. Check the P&L diagram to visualize the full payoff profile at expiration.

Read IV and skew

  1. Switch to the ANALYTICS tab.
  2. Read the IV summary for the ATM level and average across the chain.
  3. Check the volume and OI gauges for a directional sentiment reading.
  4. Inspect the volatility smile for skew — steepness and asymmetry between calls and puts.

Tip

Use CHAIN to locate strikes of interest, STRATEGY_BUILDER to size and structure the trade, and ANALYTICS to check the IV environment before committing.

Note

This page covers chain analysis only. For institutional sweep and block detection use Options Flow. For dealer gamma positioning use Gamma Exposure.

KEYBOARD SHORTCUTS

Shortcut Action
⌘K → options Open the Options page from anywhere

DATA NOTES

  • Data source: US-listed (OPRA) options only
  • Chain loads all strikes across all listed expirations on page load, then filters to the selected expiry
  • Anonymous guests are served from cache; sign in (Free) to trigger a live fetch on cold symbols
  • Open interest reflects the prior close; volume and IV are session data
  • Greeks in the Strategy Builder are model-estimated and are not sourced from live market data