Even in liquid markets there are opportunities for better execution prices. Cboe LiveVol?s SmartMarkets capitalizes on our vast and easily queryable data repository. We help our clients achieve superior investment results with informed option selection and improved tradeable option quotes by applying sound option fundamentals, relative value, and synthetic pricing relationships.
Available with or without Securities Information Processor (SIP) data, SmartMarkets helps you improve your limit order execution quality.
Methodologies:
For American exercise calls, our SmartMarkets algorithm evaluates the following:
- Intrinsic value of the option
- Bid from call options having the same or higher strike with the same or sooner expiration than target option
- Offers from call options having the same or lower strike with the same or later expiration than the target option
- Bid and offers from three arbitrage relationships
- Market implied bids and offers from synthetic relationships
- Intrinsic value of the option
- Bids from put options having the same or lower strike with the same or sooner expiration than target option
- Offers from put options having the same or higher strike with the same or later expiration than the target option
- Determines best implied bids and offers from three arbitrage relationships
- Calculates market implied bids and offers from synthetic relationships
Try out SmartMarkets in our API Sandbox.
To see the available API Calls associated with the?SmartMarkets API go to
https://api.livevol.com/v1/docs/Help#sectionSmartMarket
Included with your subscription is the Market Reference Information API. To see the API calls available in this API go to https://api.livevol.com/v1/docs/Help#sectionMarketReferenceInfo
The?SmartMarkets API is available with either live* or delayed data (15 minutes), and there are three tiers of access with thresholds set per minute, per day and per month. Users can select a hard ceiling on API calls or allow bursts to exceed threshold limits. Overage fees will apply at the rates stated below.
Base Thresholds
| Rate Limits | |||
| User Tier | Per Minute | Per Day | Per Month |
| 1 | 10 | 1,000 | 10,000 |
| 2 | 1,000 | 40,000 | 1,000,000 |
| 3 | 5,000 | 200,000 | 5,000,000 |
Allow Burst/Exceed
| Rate Limits | |||
| User Tier | Per Minute | Per Day | Per Month |
| 1 | 40 | 4,000 | 10,000 |
| 2 | 2,000 | 80,000 | 2,000,000 |
| 3 | 5,000 | 200,000 | 5,000,000 |
Overage Rates
| Price | |
| User Tier | Per Call |
| 1 | 0.100 |
| 2 | 0.030 |
| 3 | 0.010 |
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*Subscribers are responsible for all additional data fees that apply
