Xignite, the leading global provider of financial market data APIs, announced the launch of a new Option Greeks and Implied Volatility API. Xignite’s clients can now easily add greeks and implied volatility to their platforms to help investors make better option trading decisions.
As markets have become increasingly digitized and access to sophisticated instruments has broadened, we have observed an explosion in options trading. What began with speculative calls on meme stocks like GME has quickly evolved into more advanced strategies, including hedging against negative election outcomes or recession fears.
Option Greeks and implied volatility are measures used by options traders to evaluate risk. With these metrics, options traders can make more informed decisions about which contracts to trade, and when to trade them. Each Greek (dubbed Delta, Gamma, Theta, Vega, and Rho) measures the sensitivity of an option contract to one of these factors: price of the underlying security, time to expiration, or interest rates.
Despite customer needs, providing Option Greeks is difficult for wealth and brokerage providers because it involves very large amounts of real-time calculations on millions of option contracts. Building the right technology and infrastructure in-house can be expensive and time consuming. With the implementation of Xignite’s new offering, brokerage and wealth providers can drive investor participation and engagement without incurring the costs of building in-house options calculations.
“Option Greeks have been one of the most commonly requested enhancements for Xignite’s options APIs” says Scott Argyres, VP of Product Management for Xignite. “After much research and close collaboration with our large retail-focused brokerage clients, we are pleased to introduce this functionality.”
Xignite Option Greeks are available in three new API endpoints: GetOptionGreeks, GetOptionGreeksByChain, and GetAllOptionGreeksByChain and can be purchased as a service add-on.
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