OPRA

Emotional-Breath-838

As of August 21, 2026: * **Basic/free:** Alpaca’s indicative options feed—not the complete official OPRA market. * **Algo Trader Plus:** currently listed at **$99/month**, including OPRA coverage. The free feed has delayed trades and modified indicative quotes. It may be adequate for developing a paper monitor, but I would use OPRA-quality data before triggering real exit or roll decisions.

CompetitiveAd8610

i dont see any .5 fills for the aug 21 100 puts this morning through OPRA. Opening was .8 for MRNA260821P00100000

Cyral

How do you know if the user seeing live data, who is not registered or identified in any way, is a professional or non-professional subscriber? How is that reported to OPRA? That is how I know this isn't a legit operation

Miserable-Tie-3436

OPRA- You get a Lambo, and you get a Lambo, and you get a Lambo. Calls it is.

Stocks_N_Bondage

Opened Today Aug 18 - Calls: ADI • KEYS • OPRA

kestrel_42

I priced literally this pull in June. Databento, metered OPRA, 1-min SPXW quotes came out around $1.04 a session, so a year lands near $263 plus like $8 of contract definitions. They have a cost API that quotes the exact pull before you pay, and new accounts get $125 credit, so a few months of weeklies are basically free to test. Other route is thetadata, $40 for one Value month covers 4 years of 1-min through their local terminal, pull what you need and cancel. I'd go metered for one deep window you keep, the $40 month if you want several roots at once.

PapaCharlie9

You left out some critical details that are necessary to understand what's going on. Like is this an opening or closing order? Buy or sell? Since the ask updated to your limit price, the first order was either an STO or STC. But was the second order, the market one, the same type? And you are sure the second order was a market order? Because price improvement would not be that unusual for a limit STO order set at the bid. We'd also need to know what routing you were using, if you know, and if there was anything else going on, like maybe the price was volatile in that moment and the bid changed so that the new market was 0.65? What was the quantity of the order? Was is quantity 1 or was it a large lot, which could change things. Finally, is this a US domiciled trade? I'd expect so, since you mentioned OPRA, but I wanted confirmation. Since all bets are off in other countries. NBBO regulations are strictly adhered to and, absent a technical glitch, the quoted prices should work as expected for a market order. So if it really was a market STO quantity 1, you should have gotten the bid price.

almost_n

I have access to real time option price (from OPRA), with level one, so I only see bid/ask, not the whole book. But I have a question about if it is really what the true bid/ask price . Let's say for example these are the prices bid/ask: 0.55/0.8 I then put a limit order at 0.7 and the update is: 0.55/0.7 It stays like this for a while... So nobody is interested in taking it. Then I place a market order and it gets filled at 0.65. My expectation was 0.55, which was the shown price. How does that work? Are there hidden offers that gets triggered when a market order is present? Is there any way to see them? Another scenario that happened was while opening a diagonal spread and I managed to get a better bid/ask on both legs. Theoretically, I would have got 3 in debit (looking at the bid/ask) and my limit order also had exactly 3 as a maximum debit, but I ended up with only 1.6 in debit. Is my broker looking for better offers on my behalf? Is there a way for me to see the better offers before sending an order?

Brief_Passenger_8196

Love when im trying to sell my options but OPRA just rejects the order until my position is turning red

Cavitat

You are correct, unfortunately the options databases I have access to (Quantconnect/OPRA) only truly start in 2012. The models verification process / calibration statistics are appended at the end of each report so readers can see for themselves whether the model is "on target". Note that, this is not a crystal ball forecast. So far the 95% confidence interval is, in practice, approximately a 98% confidence interval: so the model is conservative. The system used 2025 as an out-of-sample (OOS) period, and was deployed dec 30, 2025, so 2026 is all live data. The longest expectation horizon is about 8 months out (243 calendar days), so the latest verification calculation dates are approximately April 2026,

adeeast

Check out Tastytrade for real-time live execution charting or OptionStrat for quick visual spread and premium tracking. Since TradingView lacks native OPRA options charting and you're locked out of TOS, those two are the easiest drop-in replacements

Baraxton

Correct. The data from OPRA costs $20k monthly, so any service not charging an appropriate fee is evidently not paying for the data, which would make said service useless.

LaconicB

The bid/ask is OPRA data, all brokers receive this so it’s not something IBKR is tampering with.  For your entries on momentum candles, you’re always going to receive horrible fills because this is where there’s more demand than supply. Buy orders are pushing the price up and you’re buying into this move. This is the candle I sell and take profit right before the momentum fades. I can place market orders and see on the charts the highest fill was my orders that were filled. You are entering late, you should find a momentum indicator and tweak the setting to find the best way to show you momentum picking up and or fading before the candle shows you. My best exits are market orders with momentum still pushing in my favor. This is where having the right broker matters, Webull will let me exit with a good price. Using these market orders with Webull, I’ve never experienced a bad fill. I can’t say you will experience the same because you’re in Canada where PFOF is not allowed, that’s a big reason the option fees are .99 cents per contract. Your orders go to the exchange, not allowing market makers to give you a better price with PFOF. 

InfoLib_

Some brokerages give you access do the data, I think tasty trade is one? Whatever deals with OPRA

AluminiumCaffeine

Im in DT, RDDT, OPRA, TEAM

ThetaEdgeHQ

On the question a couple of people asked about what the professional designation actually costs you: it is mostly market data fees, not trading restrictions. Exchanges charge non professional subscribers a few dollars a month for real time data and charge professionals a lot more, often a hundred plus per exchange per month, and it can stack across Nasdaq, NYSE, OPRA and the rest. So the penalty box mainly means your quotes get expensive, not that you lose the ability to trade. And to clear up the count itself: the 390 rule is about order messages sent, so new orders plus modifications plus cancellations across each leg, not the number of fills. That is why multi leg and heavy cancel activity trips it far faster than the raw trade count suggests.

ThetaEdgeHQ

NDX options print to OPRA like everything else, so the data exists. The issue is that a lot of vendors market equity options and quietly leave cash settled index products out of the default set. Anyone selling full OPRA history has NDX. Databento was already mentioned, Polygon flat files and Algoseek are also worth a look at tick level. CBOE DataShop is the authoritative source since it is their listing, so if you want the cleanest fills that is the safe default. One practical warning for tick level NDX specifically. Volume is thin next to QQQ, so plenty of strikes and expiries will have sparse quote updates and wide markets, and your tick file will look patchy in a way that is real, not a data gap. If your model needs continuous quotes you may have to fill or filter around that. QQQ trades far more, which is exactly why more providers surface it by default even though NDX carries the larger notional.

DatabentoHQ

We do have historical index options tick data as part of our OPRA offering.

FeistyCommercial7970

10x on META calls in like 20 hours is crazy, you basically caught a knife perfectly. those july 2026 615Cs are super far OTM so the premium was dirt cheap at 84 cents, and you bought 5 contracts for 420 total. risk was tiny for that kind of move. the OPRA reporting authority just means the trade got reported through their system which is normal for US options on euro brokers. take some profits next time or at least trail a stop, these can go from 10x to 0x fast if META pulls back

ThetaHedge

Thank You! The data comes from NASDAQ and OPRA. 30 Delta Yields are computed internally.

Awkward-Painter-2024

Man, Polestar (PSNY). Really thought it might take off. The cars blows Tesla's away. Lightyears ahead of everyone else, but just couldn't make inroads in the US. And now Elmo has succeeded in getting the administration to outlaw it starting next year. I'm holding though. Down 50% right now. And Xiaomi (XIACY)... amazing tech in the largest market in the world, blah, blah, blah. Down 50%, too. I don't understand why these dipshit CEOs haven't AI'd their way to gains, but oh well. I'm going down with these ships!!! (Especially since I sold NOK, SCHL, and OPRA for these moves.)

Fit_Equal6932

If you have the data. Here is one for fun and also because it is a popular topic. How would PnL change for 0dte iron condors if you were to get filled passively vs crossing the spread? Assume whatever mechanistic entries you want. The OPRA quotes data is huge and it will probably take me many weeks to process this from massive. If you can run this it will be good. It will give some insights into how good the MM pricing is, whether the fair lies within the spread most of the time so that probabilistically the strategy can perform a lot better with passive fills (getting those fills is another matter of course and so this is still mostly academic). Running this over a longer time horizon (just the weekly expiry for when true 0dte was not available) could also tease out affects like whether the popularity of this strategy has distorted pricing with huge volumes of retail trading this every day and selling into bids from MMs.

Fit_Equal6932

Cool, this makes sense, what provider do you use for the data and do you track a few tickers at a time? OPRA is notorious for its firehose of message publishing rates.

Embarrassed-Year6290

Data comes from the options tape via OPRA feed. A sweep is when a large order gets routed across multiple exchanges simultaneously to get filled fast, instead of sitting as a limit order and waiting, whoever placed it was willing to pay up for immediate execution. That urgency is the signal. A block is a single large print negotiated off-exchange, a split is one order broken into smaller pieces across time. Sweeps are the most aggressive of the three because the buyer or seller is prioritizing speed over price, which is consistent with someone who has a time-sensitive view. The scanner identifies sweep vs block vs split based on how the order routes and fills across exchanges, then layers in Vol/OI, bid/ask side, and IV context to classify whether it looks directional or structural.

ThetaHedge

Fundamentals and Pricing Data are from NASDAQ. Option Chains are from OPRA.

Civil_Inspection579

Honestly your thinking is directionally correct, but there’s one important nuance: options liquidity is fragmented across multiple exchanges, so even if IBKR shows “AMEX” for the contract, the actual best executable liquidity after a catalyst may still be distributed across OPRA feeds rather than sitting only on NYSE American depth specifically.

ThetaHedge

Fundamentals Data & Pricing Data are all from NASDAQ. Options data is sourced from OPRA. Any Derived metrics like Wheel Rank, Premium Calculations (30 Delta Put/Call Yields), IV HV, IV Rank, Volume Rank are all internally computed every 5 mins in real time.

AluminiumCaffeine

Software actually getting another nice day, currently holding: OPRA, SNPS, RBLX, GTLB, DT, SNOW - wish I had DDOG lol

wiipla

Guys, if anyone wants to read my DD, just look at my posts or search OPRA DD. I'm not gonna reply to every comment about shit I already wrote.

DoubleFamous5751

Reminder some regard made a DD about OPRA and it’s catching a bid today

wiipla

Main risk is the IPO fails to go through. Even so, I don't think OPRA would drop very much. They also have a 300MM buyback that they announced only 1 quarter ago.

wiipla

According to OPRA's earnings transcript, if OPAY IPOs, they will liquidate their stake and pay it in a dividend to shareholders.

jrlandry

Im only buying OPRA because of Winfrey, not you

LaconicB

Everything. It’s easier to monitor positions, better charts, does not disconnect at random times like the TWS platform on IBKR, easier to send direct orders, better trading ladder, better OCO bracket orders and adjustments, better smart routing, no additional fees for options OPRA data, lower fees, superior customer service, better scalping setups, and you can track your trading performance on the website by seeing your average win percentage per trade, average loss, win rate, and there’s probably more I am missing. This is all for option trading, not related to other services. IBKR has some low margin rates, Schwab is pretty high and needs to be negotiated but can’t expect IBKR rates in return. IBKR isn’t bad overall, just not my choice for options. If you have access to Schwab(I believe they allow international accounts in NZ), google thinkorswim free trial and test out the trading platform with a paper account. 

AluminiumCaffeine

Pretty solid OPRA results this morning, I continue to think its dirt cheap and has lots of optionality with combination of stable coin wallet, advertising revenues, buybacks, and yield

AphexPin

I subscribe to OPRA and CME datafeeds from DataBento and have some homemade tools for GEX etc but like you said it's up to interpretation on top of already being only a proxy for real dealer exposure. I'm mostly hoping to grab anything quantitative I can to help paint a better picture of market structure, even if it's lagged, but it seems like a lot the stuff isn't accessible to retail on actionable timeframes. Overall I'm just wanting to get better about trading with the market rather than whatever my own thesis is, but reading the room like that is challenging without the required data. Been trying to also follow better people on X, just added Nicholas so thanks. Do you think Bloomberg as a news source, not the terminal, is worth it?

Trade_101

The current backtester prices options synthetically using Black-Scholes with a blended vol estimate derived from 30-day realized returns — it doesn't use real historical option chains. That means no skew, no term structure, and a flat vol surface across all strikes and expirations. For something far-dated and high-delta you're sitting in the steepest part of the skew curve, which is exactly where a flat-vol model diverges most from a tradeable mid. So the gap you're seeing makes sense and isn't surprising. The methodology is intentional for now: real historical option chain data (OPRA-sourced) is expensive and the goal was to get the strategy simulation framework right first. Live data integration is in progress — once that's in, pricing will be based on actual bid/ask mids rather than model estimates, which closes that gap considerably.

SPY_0DTE

this says 670 [https://optioncharts.io/options/SPY/max-pain?expiration\_dates=2026-04-17:m](https://optioncharts.io/options/SPY/max-pain?expiration_dates=2026-04-17:m) why the discrepancy? I find most of this stuff is too up to interpretation to be reliable, you can't reliably infer signage from OPRA feeds

TaylDurden

Because I clarified it under the other thread where we were having the conversation (and in case it didn't become obvious from answers to other questions), this is not a vibe-coded platform, but one where experienced full-time senior software developers are exclusively spending their time on :) And we are an official, fully-licensed OPRA data vendor. Nothing like most of these other platforms :)

AluminiumCaffeine

Only software I have left are non-saas names ala RDDT, RBLX, OPRA - I dont see how the bear cases of main line SAAS apply to those names because their moats and business models are not headcount nor code based but really distribution platforms for users

AntoniaFauci

What, if any, is the relationship between OPRA and PANW’s announcement of their own browser?

AluminiumCaffeine

I keep going back and forth on if I should increase or decrease software exposure lol - currently holding OPRA, VEEV, DT, RDDT, and RBRK. Opera and Reddit are really not the same concern as other SAAS at all. DT is 100% consumption based and I think stands to benefit from more code/software. VEEV is specific vertical software with pharma kicker potential and RBRK is cybersec leaning.

AluminiumCaffeine

Next time OPRA pumps I should just sell it all, geez it can never hold its ups on great news

samvarr

There's a difference between "possible" and "done." It's not a "couple" hundred it's a multiple 5 figure commitment because I signed a 12 month contract. The data licensing alone (OPRA compliance, exchange agreements, monthly reporting, pro/non-pro tracking) is a significant barrier. It's not just spinning up an API key. You're paying ThetaData for their options data spending more per month than a subscription here costs but aren't complaining that ThetaData is using data anyone can "technically" access. Which in reality they can't because it's a huge capital commitment. The whole point is that not everyone wants to build and maintain their own infrastructure for this. Some people just want to open a tab and trade. That said, I gave a free month to everyone in this thread and offered 6 months free to people who DM. If the tool is useful, great. If not, it cost nothing to find out.

samvarr

If you're distributing data you need to sign contracts directly with OPRA, pay direct exchange fees to OPRA, pay per user fees directly to opra, report monthly compliance audits to opra, and do everything I stated above regardless if you're using a third party data vendor or not.

samvarr

Sure if you want you can go ahead and pay the minimum $2,000 a month + $1,500 a month direct integration fee to OPRA to get direct access to the data.

2fingers

You're getting the Time and Sales direct from OPRA as a Vendor yourselves? Not going through another Vendor?

iShitBloodandCumShit

Here we go. OPRA is a giant bull flag. Now rug it algos 😂

iShitBloodandCumShit

I reckon if I say OPRA one more time the stock will rug 😂

iShitBloodandCumShit

Might short OPRA since they had a blowout earnings and because I’m mentioning it here.

iShitBloodandCumShit

OPRA is buying 16% of the maximum supply of CELOs tokens.

puppymaster123

The source is OPRA.

puppymaster123

Depends on how fresh you want your data. Polygon 15m delayed data can be had for less than 100 bucks. OPRA live data package starts with 1200. That’s just to get you started. All the naive gex subs out there that says they only update their gamma chart four times a day, now you know why. Also like many said, even live data doesn’t give me full dealer positioning. You have to figure out in your own

Haowuxi

You're right mate, all the signs are there. At the same time, it's a matter of the narrative. Narrative goes backwards to price action. People come up with all sorts of excuses why OPRA can't make it in hidsight, because it's not some cool AI company. The business keeps proving.

iShitBloodandCumShit

Strange options volume: someone bought 778 $17 calls yesterday and share buying has been pretty heavy(huge orders for OPRA). I think it’s safe to say someone expects OPRA to go to $17+

AluminiumCaffeine

Dont see why OPRA cant keep going up from here, 20% float buyback in place now, 10x fwd pe, growing double digits - growth fears have surrounded it for a long time and yet management keeps beating and raising q after q

iShitBloodandCumShit

Jesus Joseph and doggystyle Mary. OPRA fucking ripping.

Pantheon_Capital

$OPRA is a sleeper pick after yesterday's killer earnings and $300M announced share buyback. Very low float. Can move fast.

AluminiumCaffeine

Very nice! Similar story for me with OPRA lol

iShitBloodandCumShit

If corn bottom, might need to cover my OPRA short since it tracks corn 😂

iShitBloodandCumShit

Update: OPRA short is going well.

iShitBloodandCumShit

OPRA is 100% going back to the $20 range in a few weeks

iShitBloodandCumShit

OPRA holy shit. Fucking 🚀

iShitBloodandCumShit

OPRA: ‘we are announcing and unprecedented buyback while offering a dividend and buying back 25% of market cap as of this morning’ (over the next 2 years, should add a solid floor) Their PE is like 13-15 lmao. Sounds like they want to aim for a 5-10b market cap.

iShitBloodandCumShit

Remember kids, sell NVDA calls and short OPRA.

iShitBloodandCumShit

OPRA: $300m buyback Earnings up. Guidance up Number of users up Fuckers going to dump.

AluminiumCaffeine

NFLX/RDDT helping offset MELI for me today- so many earnings tomorrow morning for me though and tonight NU, OPRA, CPNG, FOUR, and VST

iShitBloodandCumShit

OPRA earnings is 2/26 premarket

iShitBloodandCumShit

OPRA approaching the deep fucking value of tech stock pricing.

GammaWinsSam

I've built the GammaWins Calculator which is similar in functionality to OptionStrat. It does calculate net Greeks and if you used it and they were wrong, I would love to know and fix that. https://www.gammawins.com/calc The data is only 15-minutes delayed so not real-time, live OPRA feeds with a redistribution license is quite expensive. I'll add that alongside a paid plan once I have enough users.

dagroup

Never heard of this prop firm, but reading their site shows me some red flags. Did you see this info on their site? Market data provided by TickSage, a licensed redistributor of NASDAQ and OPRA data. Live trading executed on our company's TastyTrade brokerage account (a FINRA-registered broker-dealer). 30 N Gould St Ste R, Sheridan, WY 82801 Wyoming is like the wild west for corporations, it gives Delaware serious competition.

VolSignalsVS3D

these questions are too softball 😆 UW, CheddarFlow, et al are mostly noise I am always shocked to see how many people still think that aggressor tagging is legitimately going to give you reliable information over time. But then, after all, the "Options Price Reporting Authority" itself (OPRA) labels trades as bought/sold via aggressor tagging, which must seem misleading coming from an "authority" For those that don't know- the labeling usually is a function of assuming that customers have to sell near our bid in order to get filled, and buy near the offer. But we have to keep markets very tight these days- and the price discovery happens across different vectors. I saw it smartly referred to as "predictive alpha" - which is basically a fancy way of saying "know your customer's flows well enough to make the right price in the right size for the right counterparty at the right time" Half the time you see massive equity overwrites trade they'll go up at the offer because MMs have electronically kept the vols low until the real selling flow hits- and they pay up for it knowing that the streaming prices are "massaged" - to be clear, there's risk in doing this. But it's commonplace and the tradeoff the industry has to be willing to accept when markets are required to be so tight. You pay your pound of flesh elsewhere but yes - the info from these inferences and assumptions is 60/40 at best, and at times you're adversely selected into misrepresenting the most important flows. Regarding Captain condor - yes! been following that flow for a long time and it fascinated me the hubris. Anyways, I supported much of the work out there with my data and view - I was referenced in the MarketWatch article and I eventually just wrote a series myself detailing it. You can find the whole thing here: https://www.linkedin.com/posts/daniel-roos-50849236\_to-kill-a-martingale-a-deep-dive-into-captain-ugcPost-7422966036347482112-4Wk8?

iShitBloodandCumShit

!banbet OPRA $17 1M

puppymaster123

Polygon highest tier option plan has it. Databento has it. Or skip the middle man and go straight to OPRA.

puppymaster123

By analyzing every trade flow, which is expensive since you need quote data. OPRA real time flow runs 1200USD per month

MrDerivatix

Hey OP. I’m unaware of your context but Bloomberg’s tick-by-tick is probably an overkill (and expensive) for most 0DTE setups unless you’re running a legit HFT desk. PapaCharlie9 gave you useful alternative, but in case you prefer to outsource this problem, you can check out ORATS. They have a live data API that runs with <10 seconds of market delay, which for 0DTE mm is more than fast enough unless you’re competing with Citadel’s colos. Just beware, is not “cheap”. Pricing-wise, the intraday recurring data is around $199/mo. Not cheap, not Bloomberg-expensive. For me the data quality on the IV surface is genuinely better than what you’ll get from most retail-facing providers because they’re fitting a parameterized curve (slope + derivative) rather than just spitting out raw mid-market IVs. For the real pros that need sub-second updates you’re probably looking at OPRA feed direct or through a vendor like LiveVol/CBOE DataShop. What’s your actual latency requirement? That’ll narrow it down fast.

AluminiumCaffeine

In terms of semi derisked tech names both OPRA and RBRK are at 52 week lows but pre-announced beats in releases. So long as guidance isnt abysmal those are gonna bounce here I think hard

iShitBloodandCumShit

Best part about OPRA? If it doesn’t moon I can use the dividends to buy more 😂

iShitBloodandCumShit

OPRA (fintech w/ a kick ass browser) actually doing decent today. Glad I averaged down.

iShitBloodandCumShit

OPRA getting slammed by shorts. Roughly 70% of volume the last couple days was shorting.

iShitBloodandCumShit

I swear to god. OPRA might be actual fucking garbage. Therefore I shall buy more shares.

According_Witness441

If you need true intraday historical options data, there really isn’t a good free option. Most people doing serious modeling use specialized vendors like Cboe’s historical OPRA data, ORATS, IVolatility, or TickData, which provide minute-level or tick-level prices, Greeks, and volumes across contracts. These datasets are far more complete than what Bloomberg exposes, but they come at a cost because of exchange licensing. For a class project, a limited paid trial or a short-term dataset from one of these providers is usually the most practical route.

iShitBloodandCumShit

NGL, I regret my OPRA buy.

AluminiumCaffeine

OPRA preannounced great #s, still getting crushed. Not sure I can bring myself to keep buying but the valuation just makes no sense to me while they are growing so well

Spiritual_Tell_9761

Is OPRA getting acquired?

iShitBloodandCumShit

Hell I might even buy OPRA shares. Fuckers even pay a decent dividend.

iShitBloodandCumShit

OPRA calls anyone? Had a nice dip today after they said they are expecting higher growth to be reported this earnings.

A55BAG

IMO KASPI and OPRA are better fintechs to buy if one don't mind emerging markets.

CanuckCartel

OPRA options flow. You can get those feeds from optionstrat/unusual whales/tradeviz etc.

iShitBloodandCumShit

OPRA might be an interesting one to watch, raised guidance today and it fell 9% from the intraday high.

Spiritual_Tell_9761

OPRA getting acquired?

the_Q_spice

Damn, those OPRA shares I got on a whim are going crazy.

iShitBloodandCumShit

OPRA up 19% due to some PR released saying they are going to beat at earnings.

iShitBloodandCumShit

OPRA is moving. Hottttttt damn.

AluminiumCaffeine

OPRA +18% on pretty good prelim beat, I think it should be way higher still tbh

iShitBloodandCumShit

Bought LEAP calls before OPRA earnings, bought shares today. Hope these fuckers dump.

iShitBloodandCumShit

Picked up 100 OPRA shares. Fuck it. It’s basically Norwegian Google.

A55BAG

OPRA friday -8% today +18% lol

iShitBloodandCumShit

OPRA looks like a decent AI/Web browser play.

themarketapex

[https://marketapex.com](https://marketapex.com) \- we just went live about a month ago so there's still plenty of bugs, and sometimes the live refreshing messes up because OPRA pricing makes it basically impossible to get high-quality data at a reasonable price (so we have to use all these filterting techniques). Anyway, I think we've got a really interesting take on how to look at options data and hopefully you find it somewhat useful!