# Option chain
5-minute snapshots of every listed option across Deribit, Binance, OKX, and Bybit. One row per (exchange, instrument, snapshot) carrying mark / bid / ask prices, implied volatilities, greeks, open interest, and 24h volume.
## SQL API
### `api.option_chains`
| Column | Type | Description |
| ------------------ | ------------------ | ----------------------------------------------------------- |
| `exchange` | LowCardinality | `deribit`, `binance`, `okx`, or `bybit` |
| `timestamp` | DateTime64(9, UTC) | Snapshot time (5-minute cadence) |
| `instrument_name` | String | Exchange-native instrument id |
| `underlying_asset` | LowCardinality | Underlying coin (e.g. `BTC`, `ETH`, `SOL`) |
| `quote_asset` | LowCardinality | Premium-denomination asset |
| `expiration` | DateTime64(9, UTC) | Expiry time |
| `strike` | Decimal(38, 18) | Strike price |
| `option_type` | Enum8('C','P') | Call or Put |
| `bid_price` | Decimal(38, 18) | Best bid |
| `ask_price` | Decimal(38, 18) | Best ask |
| `last_price` | Decimal(38, 18) | Last trade |
| `mark_price` | Decimal(38, 18) | Exchange mark |
| `index_price` | Decimal(38, 18) | Underlying index price |
| `underlying_price` | Decimal(38, 18) | Spot/forward of the underlying at snapshot time |
| `mark_iv` | Decimal(38, 18) | Mark implied volatility, **annualized %** (e.g. 65.0 = 65%) |
| `bid_iv` | Decimal(38, 18) | Bid IV, annualized % |
| `ask_iv` | Decimal(38, 18) | Ask IV, annualized % |
| `delta` | Decimal(38, 18) | Delta |
| `gamma` | Decimal(38, 18) | Gamma |
| `vega` | Decimal(38, 18) | Vega |
| `theta` | Decimal(38, 18) | Theta |
| `open_interest` | Decimal(38, 18) | Open interest (contracts) |
| `volume_24h` | Decimal(38, 18) | Trailing 24h volume |
| `state` | LowCardinality | Exchange-reported state (`open`, `TRADING`, `live`, etc.) |
> **Implied volatility unit.** All four exchanges return IV annualized; we normalize the scale at ingest so `mark_iv = 65.0` means 65% annualized vol regardless of source exchange.
### Examples
**1. Latest snapshot of the BTC option chain on Deribit:**
```sql
WITH (
SELECT max(timestamp)
FROM api.option_chains
WHERE exchange = 'deribit' AND underlying_asset = 'BTC'
) AS latest_ts
SELECT *
FROM api.option_chains
WHERE exchange = 'deribit'
AND underlying_asset = 'BTC'
AND timestamp = latest_ts
ORDER BY expiration, strike, option_type
```
**2. ATM volatility smile for one expiration (any exchange):**
```sql
WITH (
SELECT max(timestamp)
FROM api.option_chains
WHERE exchange = 'deribit' AND underlying_asset = 'BTC'
) AS latest_ts
SELECT strike, option_type, mark_iv, bid_iv, ask_iv
FROM api.option_chains
WHERE exchange = 'deribit'
AND underlying_asset = 'BTC'
AND toDate(expiration) = toDate('2026-06-26')
AND timestamp = latest_ts
AND mark_iv != 0
ORDER BY strike, option_type
```
**3. ATM-strike IV across exchanges (cross-venue arb signal):**
```sql
SELECT exchange, instrument_name, mark_iv, mark_price
FROM api.option_chains
WHERE underlying_asset = 'BTC'
AND toDate(expiration) = toDate('2026-06-26')
AND option_type = 'C'
AND abs(strike - underlying_price) / toFloat64(underlying_price) < 0.01
AND timestamp > now() - INTERVAL 10 MINUTE
ORDER BY exchange, abs(strike - underlying_price)
LIMIT 4
```
## REST API
## Get Option Chain Snapshot
> Latest 5-minute snapshot of the full option chain for (exchange, underlying\_asset). Returns one row per listed instrument with prices, IVs, greeks, OI, and 24h volume.
```json
{"openapi":"3.1.1","info":{"title":"Koinju Market Data API","version":"1.0.0"},"servers":[{"url":"https://api.koinju.io","description":"Koinju API Server"}],"security":[{"apiKeyAuth":[]}],"components":{"securitySchemes":{"apiKeyAuth":{"type":"apiKey","in":"header","name":"x-api-key","description":"Required for /ohlcv and /trade endpoints.\nPass your API key in the x-api-key header.\nPublic /market/* endpoints do not require authentication.\n"}},"schemas":{"OptionChainRow":{"type":"object","properties":{"instrument_name":{"type":"string","description":"Exchange-native instrument identifier"},"expiration":{"type":"string","format":"date","description":"Expiry date (UTC)"},"strike":{"type":"number","format":"decimal","description":"Strike price"},"option_type":{"type":"string","enum":["C","P"],"description":"Call or Put"},"mark_price":{"type":"number","format":"decimal","description":"Mark price (in underlying)"},"bid_price":{"type":"number","format":"decimal","description":"Best bid"},"ask_price":{"type":"number","format":"decimal","description":"Best ask"},"mark_iv":{"type":"number","format":"decimal","description":"Mark implied volatility (annualized %)"},"bid_iv":{"type":"number","format":"decimal","description":"Bid IV"},"ask_iv":{"type":"number","format":"decimal","description":"Ask IV"},"delta":{"type":"number","format":"decimal","description":"Delta"},"gamma":{"type":"number","format":"decimal","description":"Gamma"},"vega":{"type":"number","format":"decimal","description":"Vega"},"theta":{"type":"number","format":"decimal","description":"Theta"},"open_interest":{"type":"number","format":"decimal","description":"Open interest"},"volume_24h":{"type":"number","format":"decimal","description":"24h trading volume"},"underlying_price":{"type":"number","format":"decimal","description":"Spot/index price of the underlying at snapshot time"},"dte":{"type":"integer","description":"Days-to-expiry from snapshot timestamp"}}}}},"paths":{"/option/chain":{"get":{"summary":"Get Option Chain Snapshot","description":"Latest 5-minute snapshot of the full option chain for (exchange, underlying_asset). Returns one row per listed instrument with prices, IVs, greeks, OI, and 24h volume.\n","tags":["market_data"],"parameters":[{"name":"exchange","in":"query","required":true,"schema":{"type":"string","enum":["deribit","binance","okx","bybit"]},"description":"Exchange to query — one of `deribit`, `binance`, `okx`, `bybit`."},{"name":"underlying_asset","in":"query","required":true,"schema":{"type":"string"},"description":"Underlying coin (e.g. `BTC`, `ETH`, `SOL`)."},{"name":"expiration","in":"query","required":true,"schema":{"type":"string","format":"date"},"description":"Expiry date, ISO (YYYY-MM-DD). Required."}],"responses":{"200":{"description":"OK","content":{"application/json":{"schema":{"type":"array","items":{"$ref":"#/components/schemas/OptionChainRow"}}}}}}}}}}
```
---
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