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drmartell

thetadata-mcp

by drmartell

option_snapshot_greeks_implied_volatility

Retrieve real-time implied volatility for options using bid, mid, and ask prices. Specify symbol, expiration, and optional filters to get precise IV data.

Instructions

[STANDARD] Real-time implied volatility from bid, mid, and ask prices.

Input Schema

TableJSON Schema
NameRequiredDescriptionDefault
rightNoThe right (call or put) of the contract.both
strikeNoThe strike price of the contract in dollars (ie `100.00` for `$100.00`), or `*` for all strikes.*
symbolYesThe stock or index symbol, or underlying symbol for options.
max_dteNoIf specified, only contracts with a full calendar day 'Days to Expiration' (DTE) less than or equal to this number will be returned.
versionNoUsed to adjust Greeks calculation methodology. "1" uses a fixed .15 DTE for 0DTE; "latest" uses real TTE (down to a minimum of 1 hour)latest
min_timeNoFilters snapshots to include only data with a timestamp greater or equal to the specified value (HH:mm:ss.SSS format).
rate_typeNoThe interest rate type to be used in a Greeks calculation.sofr
expirationYesThe expiration of the contract in `YYYY-MM-DD` or `YYYYMMDD` format, or `*` for all expirations.
rate_valueNoThe interest rate, as a percent, to be used in a Greeks calculation.
stock_priceNoThe underlying stock price to be used in the Greeks calculation.
strike_rangeNoUsed to specify a filter to limit the number of contracts returned relative to the underlying's spot price. Will return the specified number of strikes above and below the spot price, as well as the at-the-money strike.
annual_dividendNoThe annualized expected dividend amount to be used in Greeks calculations.
Behavior2/5

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

With no annotations provided, the description must carry the full burden of behavioral disclosure. It only states the source prices (bid/mid/ask) but does not disclose any limitations, return format, pagination, rate limits, or handling of invalid inputs. The real-time nature is implied by the name and the phrase 'Real-time', but no additional behavioral context is given.

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

Conciseness4/5

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

The description is a single concise sentence that front-loads the core function. Some words like '[STANDARD]' add no value, but the core message is efficiently delivered.

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

Completeness2/5

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

For a tool with 12 parameters, no annotations, no output schema, and a large set of sibling tools, this description is severely under-specified. It does not explain return values, filtering options, or relationship to other greeks tools, and lacks any guidance for proper usage in different scenarios.

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?

The input schema has 100% description coverage, with all 12 parameters documented including defaults, enums, and formats. The description does not add any parameter-specific meaning beyond what the schema already provides, so the baseline score of 3 is appropriate.

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

Purpose4/5

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

The description identifies the tool as providing real-time implied volatility computed from bid, mid, and ask prices, which clearly distinguishes it from sibling snapshot tools that return all Greeks or other specific data. However, it does not explicitly mention the tool's scope as an options snapshot, relying on the tool name and schema to convey that context.

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

Usage Guidelines2/5

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

The description provides no guidance on when to use this tool compared to the many related options snapshot tools, such as option_snapshot_greeks_all or option_snapshot_quote. There is no mention of use cases, exclusions, or alternative tools, leaving the agent without direction for tool selection.

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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