Option Chain

Option Chain

Endpoint URL

This API Function Fetches Option Chain Data with Real-time Quotes for All Strikes

Local Host   :  POST http://127.0.0.1:5000/api/v1/optionchain
Ngrok Domain :  POST https://<your-ngrok-domain>.ngrok-free.app/api/v1/optionchain
Custom Domain:  POST https://<your-custom-domain>/api/v1/optionchain

Sample API Request (Full Chain)

{
    "apikey": "your_api_key",
    "underlying": "NIFTY",
    "exchange": "NSE_INDEX",
    "expiry_date": "30DEC25"
}

Sample API Response (Full Chain)

{
  "status": "success",
  "underlying": "NIFTY",
  "underlying_ltp": 26215.55,
  "expiry_date": "30DEC25",
  "atm_strike": 26200,
  "chain": [
    {
      "strike": 26100,
      "ce": {
        "symbol": "NIFTY30DEC2526100CE",
        "label": "ITM2",
        "ltp": 490,
        "bid": 490,
        "ask": 491,
        "open": 540,
        "high": 571,
        "low": 444.75,
        "prev_close": 496.8,
        "volume": 1195800,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      },
      "pe": {
        "symbol": "NIFTY30DEC2526100PE",
        "label": "OTM2",
        "ltp": 193,
        "bid": 191.2,
        "ask": 193,
        "open": 204.1,
        "high": 229.95,
        "low": 175.6,
        "prev_close": 215.95,
        "volume": 1832700,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      }
    },
    {
      "strike": 26150,
      "ce": {
        "symbol": "NIFTY30DEC2526150CE",
        "label": "ITM1",
        "ltp": 460.5,
        "bid": 452.9,
        "ask": 463,
        "open": 475.8,
        "high": 535.7,
        "low": 414.6,
        "prev_close": 461.05,
        "volume": 183525,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      },
      "pe": {
        "symbol": "NIFTY30DEC2526150PE",
        "label": "OTM1",
        "ltp": 208.5,
        "bid": 207.85,
        "ask": 210.1,
        "open": 218.2,
        "high": 248.8,
        "low": 190.75,
        "prev_close": 233.7,
        "volume": 332100,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      }
    },
    {
      "strike": 26200,
      "ce": {
        "symbol": "NIFTY30DEC2526200CE",
        "label": "ATM",
        "ltp": 427,
        "bid": 425.05,
        "ask": 427,
        "open": 449.95,
        "high": 503.5,
        "low": 384,
        "prev_close": 433.2,
        "volume": 2994000,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      },
      "pe": {
        "symbol": "NIFTY30DEC2526200PE",
        "label": "ATM",
        "ltp": 227.4,
        "bid": 227.35,
        "ask": 228.5,
        "open": 251.9,
        "high": 269.15,
        "low": 205.95,
        "prev_close": 251.9,
        "volume": 3745350,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      }
    },
    {
      "strike": 26250,
      "ce": {
        "symbol": "NIFTY30DEC2526250CE",
        "label": "OTM1",
        "ltp": 398,
        "bid": 395.4,
        "ask": 400.5,
        "open": 442.1,
        "high": 468.5,
        "low": 355.75,
        "prev_close": 401.9,
        "volume": 407100,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      },
      "pe": {
        "symbol": "NIFTY30DEC2526250PE",
        "label": "ITM1",
        "ltp": 243.85,
        "bid": 243.6,
        "ask": 246.15,
        "open": 264.25,
        "high": 288,
        "low": 222.15,
        "prev_close": 269.7,
        "volume": 487575,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      }
    },
    {
      "strike": 26300,
      "ce": {
        "symbol": "NIFTY30DEC2526300CE",
        "label": "OTM2",
        "ltp": 367.55,
        "bid": 364,
        "ask": 367.55,
        "open": 378,
        "high": 437.4,
        "low": 327.25,
        "prev_close": 371.45,
        "volume": 2416350,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      },
      "pe": {
        "symbol": "NIFTY30DEC2526300PE",
        "label": "ITM2",
        "ltp": 266,
        "bid": 264.2,
        "ask": 266.5,
        "open": 263.1,
        "high": 311.55,
        "low": 240,
        "prev_close": 289.85,
        "volume": 2891100,
        "oi": 0,
        "lotsize": 75,
        "tick_size": 0.05
      }
    }
  ]
}

Sample API Request (10 Strikes Around ATM)

{
    "apikey": "your_api_key",
    "underlying": "NIFTY",
    "exchange": "NSE_INDEX",
    "expiry_date": "30DEC25",
    "strike_count": 10
}

This returns 10 strikes above ATM + 10 strikes below ATM + ATM = 21 total strikes.

Sample API Request (Future as Underlying)

{
    "apikey": "your_api_key",
    "underlying": "NIFTY30DEC25FUT",
    "exchange": "NFO"
}

Note: When using a future as underlying, expiry_date is extracted from the future symbol.

Sample API Request (Stock Options)

{
    "apikey": "your_api_key",
    "underlying": "RELIANCE",
    "exchange": "NSE",
    "expiry_date": "30DEC25",
    "strike_count": 10
}

Parameter Description

Parameter	Description	Mandatory/Optional	Default Value
apikey	App API key	Mandatory	-
underlying	Underlying symbol (NIFTY, BANKNIFTY, RELIANCE, etc.)	Mandatory	-
exchange	Exchange code (NSE_INDEX, NSE, NFO, BSE_INDEX, BSE, BFO)	Mandatory	-
expiry_date	Expiry date in DDMMMYY format (e.g., 30DEC25)	Mandatory*	-
strike_count	Number of strikes above and below ATM (1-100)	Optional	All strikes

*Note: expiry_date is optional if underlying includes expiry (e.g., NIFTY30DEC25FUT)

Response Parameters

Parameter	Description	Type
status	API response status (success/error)	string
underlying	Base underlying symbol	string
underlying_ltp	Last Traded Price of underlying	number
expiry_date	Expiry date in DDMMMYY format	string
atm_strike	At-The-Money strike price	number
chain	Array of strike data with CE and PE	array

Chain Item Structure

Each item in the chain array contains:

Field	Description	Type
strike	Strike price	number
ce	Call option data (null if not found)	object
pe	Put option data (null if not found)	object

CE/PE Data Structure

Field	Description	Type
symbol	Option symbol (e.g., NIFTY30DEC2524000CE)	string
label	Strike label (ATM, ITM1, OTM1, etc.)	string
ltp	Last Traded Price	number
bid	Best bid price	number
ask	Best ask price	number
open	Day's open price	number
high	Day's high price	number
low	Day's low price	number
prev_close	Previous day's close price	number
volume	Traded volume	number
oi	Open Interest	number
lotsize	Lot size for the option	number
tick_size	Minimum price movement	number

Strike Labels

Strike labels indicate the position relative to ATM and are different for CE and PE:

Strike Position	CE Label	PE Label	Description
At ATM	ATM	ATM	At-The-Money strike
1 below ATM	ITM1	OTM1	CE is In-The-Money, PE is Out
2 below ATM	ITM2	OTM2	CE is In-The-Money, PE is Out
1 above ATM	OTM1	ITM1	CE is Out-The-Money, PE is In
2 above ATM	OTM2	ITM2	CE is Out-The-Money, PE is In

Label Logic:

• Strikes below ATM: CE is ITM, PE is OTM

• Strikes above ATM: CE is OTM, PE is ITM

• ATM strike: Both CE and PE are labeled as ATM

Exchange Mapping

Underlying Exchange	Options Exchange	Examples
NSE_INDEX	NFO	NIFTY, BANKNIFTY, FINNIFTY
BSE_INDEX	BFO	SENSEX, BANKEX
NSE	NFO	RELIANCE, TCS, INFY
BSE	BFO	Stock options on BSE

Error Response

{
    "status": "error",
    "message": "No strikes found for NIFTY expiring 30DEC25. Please check expiry date or update master contract."
}

Common Error Messages

Error Message	Cause	Solution
Invalid openalgo apikey	API key is incorrect or expired	Check API key in settings
No strikes found for {symbol}	Expiry doesn't exist in database	Check expiry date format
Failed to fetch LTP for {symbol}	Underlying quote not available	Check underlying symbol/exchange
Failed to determine ATM strike	No valid strikes near current price	Check if market is open
Expiry date is required	Missing expiry for non-future	Provide expiry_date parameter
Master contract needs update	Symbol database is outdated	Update master contract data

Use Cases

1. Fetch Full Option Chain for Analysis

{
    "apikey": "your_api_key",
    "underlying": "NIFTY",
    "exchange": "NSE_INDEX",
    "expiry_date": "30DEC25"
}

Use this to get all available strikes for comprehensive analysis.

2. Fetch 10 Strikes Around ATM

{
    "apikey": "your_api_key",
    "underlying": "NIFTY",
    "exchange": "NSE_INDEX",
    "expiry_date": "30DEC25",
    "strike_count": 10
}

Returns 10 strikes above and 10 strikes below ATM (21 total including ATM).

3. Find ATM Strike and Premium

Use the response to identify:

• ATM strike from atm_strike field

• ATM CE and PE premiums from chain items where label is "ATM"

4. Calculate Put-Call Ratio (PCR)

Sum OI from all PE options and divide by sum of OI from all CE options:

PCR = Sum(PE OI) / Sum(CE OI)

5. Identify Max Pain

Strike with maximum combined OI for CE and PE indicates potential max pain level.

Index Reference

Index	Exchange	Strike Interval	Lot Size
NIFTY	NSE_INDEX	50	25
BANKNIFTY	NSE_INDEX	100	15
FINNIFTY	NSE_INDEX	50	25
MIDCPNIFTY	NSE_INDEX	25	50
SENSEX	BSE_INDEX	100	10
BANKEX	BSE_INDEX	100	15

Features

1. Full Chain Support: Returns entire option chain when strike_count is not provided

2. Separate CE/PE Labels: Each option has its own ITM/OTM/ATM label

3. Real-time Quotes: Fetches live LTP, bid, ask, volume, and OI for all strikes

4. Future as Underlying: Supports using futures for ATM calculation

5. Stock Options: Works for both index and stock options

6. Comprehensive Data: Includes lotsize and tick_size for each option

Rate Limiting

• Limit: 10 requests per second

• Scope: Per API endpoint

• Response: 429 status code if limit exceeded

Best Practices

1. Use strike_count for Performance: Limit strikes when full chain is not needed

2. Cache Results: Option chain data can be cached for short periods (5-10 seconds)

3. Handle Null Values: CE or PE can be null if symbol doesn't exist

4. Check Market Hours: Quotes may be stale outside market hours

5. Update Master Contracts: Ensure symbol database is current for accurate results

6. Use Correct Expiry Format: Always use DDMMMYY format (e.g., 30DEC25)

Integration Examples

Python Example

import requests

url = "http://127.0.0.1:5000/api/v1/optionchain"
payload = {
    "apikey": "your_api_key",
    "underlying": "NIFTY",
    "exchange": "NSE_INDEX",
    "expiry_date": "30DEC25",
    "strike_count": 10
}

response = requests.post(url, json=payload)
data = response.json()

if data["status"] == "success":
    print(f"ATM Strike: {data['atm_strike']}")
    print(f"Underlying LTP: {data['underlying_ltp']}")

    for item in data["chain"]:
        ce = item.get("ce", {})
        pe = item.get("pe", {})
        print(f"Strike: {item['strike']} | CE: {ce.get('ltp', '-')} ({ce.get('label', '-')}) | PE: {pe.get('ltp', '-')} ({pe.get('label', '-')})")

JavaScript Example

const fetchOptionChain = async () => {
    const response = await fetch('http://127.0.0.1:5000/api/v1/optionchain', {
        method: 'POST',
        headers: { 'Content-Type': 'application/json' },
        body: JSON.stringify({
            apikey: 'your_api_key',
            underlying: 'NIFTY',
            exchange: 'NSE_INDEX',
            expiry_date: '30DEC25',
            strike_count: 10
        })
    });

    const data = await response.json();

    if (data.status === 'success') {
        console.log(`ATM Strike: ${data.atm_strike}`);
        data.chain.forEach(item => {
            console.log(`Strike: ${item.strike}, CE: ${item.ce?.ltp}, PE: ${item.pe?.ltp}`);
        });
    }
};