---
title: "Straddle-equivalent 1-sigma implied move for one underlier + expiry"
method: GET
path: "/api/v1/options/{symbol}/implied-move"
tags: ["Options"]
---

# Straddle-equivalent 1-sigma implied move for one underlier + expiry

`GET /api/v1/options/{symbol}/implied-move`

Derived endpoint that packages the standard option-implied move computation: ``implied_move = spot * ATM_IV * sqrt(T)`` where ``T = days_to_expiration / 365.25``. Reads the precomputed ``iv_surface[i].atm_iv`` for the chosen expiry from the latest B6 snapshot (or a dated snapshot via ``?date=YYYY-MM-DD``). Defaults to the nearest-term front expiry; pass ``?expiry=YYYY-MM-DD`` to select a different expiry from those listed in ``available_expiries``. Returns the move in dollar + percent terms plus the 1-sigma implied price range (low / high). Use case: ``UC-2 Earnings Whiplash Map`` - compare historical post-earnings realised moves vs current option-implied amplitude.

## Path parameters

- `symbol` string, required — Underlier ticker.

## Query parameters

- `expiry` string, nullable — Optional target expiration date (YYYY-MM-DD). Defaults to nearest-term front expiry. 404 when not in snapshot.
- `date` string, nullable — Optional snapshot date (YYYY-MM-DD). Defaults to the latest cycle.

## Response `200`

Implied-move payload.

- EnvelopeOptionsImpliedMovePayload
  - `data` OptionsImpliedMovePayload, required — UC-2.5 derived endpoint: 1-sigma implied move from ATM IV. Reads the B6 snapshot's precomputed `iv_surface[i].atm_iv` for the requested expiry (defaults to nearest-term front expiry), applies the standard straddle-equivalent formula: implied_move_dollar = underlier_price * atm_iv * sqrt(T) where T = days_to_expiration / 365.25 Output covers the move in dollar + percent terms PLUS the implied 1-sigma price range (low/high). The `iv_source` field mirrors the snapshot's greeks_source so callers know whether the IV input came from the Sugra Finance equity Black-Scholes calculation, the non- equity caveat path (bond / commodity / currency ETF), the native- exchange Greeks path for volatility indices, or was flagged unreliable by the IV gate.
    - `symbol` string, required — Underlier ticker.
    - `snapshot_date` string, required — Snapshot date (YYYY-MM-DD).
    - `underlier_price` number, required — Spot price used for the implied move computation.
    - `expiry` string, required — Selected expiration date (YYYY-MM-DD).
    - `days_to_expiry` integer, required — Calendar days from snapshot date to expiry close. Sourced from iv_surface entry (matches the Black-Scholes T input divided by 365.25 used in Greeks).
    - `atm_iv` number, required — At-the-money implied volatility from iv_surface for the chosen expiry. Decimal form (0.2231 = 22.31% annualised).
    - `atm_strike` number, nullable — Strike nearest to underlier_price at the chosen expiry. Sourced from iv_surface.
    - `implied_move_pct` number, required — atm_iv * sqrt(days_to_expiry / 365.25) * 100. Percentage units.
    - `implied_move_dollar` number, required — underlier_price * atm_iv * sqrt(days_to_expiry / 365.25). Dollar units.
    - `implied_range_low` number, required — underlier_price - implied_move_dollar.
    - `implied_range_high` number, required — underlier_price + implied_move_dollar.
    - `iv_source` string, required — Provenance label for the atm_iv input. Categories include the Sugra Finance equity Black-Scholes calculation, the non-equity caveat path for bond / commodity / currency ETFs, a native-exchange-Greeks path for volatility indices, and an unreliable marker when the IV gate rejected the input. Echoed verbatim from the snapshot's greeks_source field.
    - `methodology` string, required — Plain-English description of the formula and inputs used.
    - `available_expiries` string[], required — All expiries present in the snapshot's iv_surface. Echoed so callers can pick a different one.
    - `data_source` string, nullable — Provenance of the underlying B6 snapshot blob. Exchange-direct options for VIX (live, native Greeks). Legacy commercial equity options path for ~199 equity underliers - stale-by-design since DATA-N1 disabled that ingest. Compare ``as_of`` against today to gauge freshness. Wire tokens are stable identifiers, not brand names.
    - `as_of` string, nullable — ISO-8601 timestamp of when the underlying snapshot blob was taken (``snapshot_taken_at`` in the blob). For DATA-N1-skipped underliers this is the last good upstream cycle before disable.
  - `meta` SugraMeta, required — Metadata attached to every /api/v1/* response envelope.
    - `endpoint` string, required — Requested endpoint path.
    - `data_time` string, required — ISO 8601 UTC timestamp of the source data, not of the request.
    - `response_time` string, required — ISO 8601 UTC timestamp when this response was produced.
    - `provider` string, required — API name and version.
    - `source` string, nullable — Identifier of the primary upstream source used for this response.
    - `attribution` string, nullable — Human-readable attribution mandated by an upstream source (e.g. a securities regulator or self-regulatory organization). Present only on responses whose source requires the owner and source to be clearly identified. Do not remove or alter it when using the response.
    - `fallback_used` boolean, nullable — True when the primary source failed and a fallback produced the data.
    - `fallback_chain` string[], nullable — Ordered list of sources attempted, in the order they were tried.
    - `cached` boolean, nullable — True when this response was served from the internal cache.
    - `stale` boolean, nullable — True when the cached response was returned after the upstream rate-limited or errored. Clients can use this to detect degraded data.

## Other responses

- `401` — Missing or invalid `x-api-key` header.
- `422` — Validation Error
- `429` — Daily rate limit exceeded. Check `X-RateLimit-Reset` for the next window.
- `503` — Upstream source is temporarily unavailable. Retry after a short delay.

---

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