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alpacahq

alpaca-mcp-server

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by alpacahq

get_option_chain

Retrieve option chain data for financial instruments to analyze contracts, including trade details, quotes, implied volatility, and Greeks. Filter results by contract type, strike price, expiration date, and other parameters for focused analysis.

Instructions

Retrieves option chain data for an underlying symbol, including latest trade, quote, implied volatility, and greeks for each contract. The response can be very large. Use the type (call/put), strike_price_gte/lte, expiration_date, and limit parameters to narrow results.

Input Schema

TableJSON Schema
NameRequiredDescriptionDefault
underlying_symbolYesThe financial instrument on which an option contract is based or derived.
feedNoThe source feed of the data. `opra` is the official OPRA feed, `indicative` is a free indicative feed where trades are delayed and quotes are modified. Default: `opra` if the user has a subscription, otherwise `indicative`. opra
limitNoNumber of maximum snapshots to return in a response. The limit applies to the total number of data points, not the number per symbol! Use `next_page_token` to fetch the next set of responses.
updated_sinceNoFilter to snapshots that were updated since this timestamp, meaning that the timestamp of the trade or the quote is greater than or equal to this value. Format: RFC-3339 or YYYY-MM-DD. If missing, all values are returned.
page_tokenNoThe pagination token from which to continue. The value to pass here is returned in specific requests when more data is available, usually because of a response result limit.
typeNoFilter contracts by the type (call or put).
strike_price_gteNoFilter contracts with strike price greater than or equal to the specified value.
strike_price_lteNoFilter contracts with strike price less than or equal to the specified value.
expiration_dateNoFilter contracts by the exact expiration date (format: YYYY-MM-DD).
expiration_date_gteNoFilter contracts with expiration date greater than or equal to the specified date.
expiration_date_lteNoFilter contracts with expiration date less than or equal to the specified date.
root_symbolNoFilter contracts by the root symbol.

Output Schema

TableJSON Schema
NameRequiredDescriptionDefault

No arguments

Behavior4/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

With no annotations provided, the description carries full burden. It discloses important behavioral traits: the response can be very large (performance warning) and mentions pagination via 'next_page_token' (implied in the limit parameter context). It doesn't cover authentication needs, rate limits, or error conditions, but provides useful operational context.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness5/5

Is the description appropriately sized, front-loaded, and free of redundancy?

Two well-structured sentences: first states purpose and scope, second provides usage guidance with specific parameter examples. Every word earns its place with zero redundancy. Front-loaded with the core functionality followed by practical advice.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness4/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

Given the tool's complexity (12 parameters, financial data domain) and the presence of an output schema (which handles return values), the description is reasonably complete. It covers purpose, data scope, performance warning, and filtering strategy. Could be improved with more explicit behavioral guidance given no annotations, but adequate for a read operation with good schema documentation.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters3/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

Schema description coverage is 100%, so the schema already documents all 12 parameters thoroughly. The description adds minimal value beyond the schema by mentioning four specific parameters (type, strike_price_gte/lte, expiration_date, limit) as examples for narrowing results, but doesn't provide additional semantic context beyond what's in the schema descriptions.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose5/5

Does the description clearly state what the tool does and how it differs from similar tools?

The description clearly states the verb 'retrieves' and the resource 'option chain data for an underlying symbol', specifying the data included (latest trade, quote, implied volatility, greeks). It distinguishes from siblings like get_option_bars or get_option_contracts by focusing on the full chain with filtering capabilities.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines4/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

The description provides clear context for when to use this tool ('to narrow results') by listing specific filtering parameters (type, strike_price_gte/lte, expiration_date, limit). However, it doesn't explicitly state when NOT to use it or name alternatives among sibling tools for different data needs.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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