MarketXLS

Option Chain At The Money

Returns only at-the-money (ATM) options from the option chain using QuoteMedia's data service.

What is At-the-Money (ATM)?

ATM options have a strike price equal or very close to the current stock price. These options have:

  • Highest time value (extrinsic value)
  • Delta near 0.50 (calls) or -0.50 (puts)
  • Most sensitive to implied volatility
  • Highest gamma (most price sensitivity)

Supported Symbol Formats

Type Format Example
US Stocks SYMBOL AAPL, MSFT
ETFs SYMBOL SPY, QQQ

Parameters

Parameter Type Required Description
Symbol String Yes Underlying stock ticker

Notes

  • Filters chain to strikes near current price
  • ATM options have highest theta decay rate
  • Most liquid options are often ATM

Syntax

=mxls.QM_GetOptionChainAtTheMoney(Symbol)
Excel Online (Mac & Windows)

Parameters

symbolstringRequired

Underlying stock ticker symbol

Returns

array

At-the-money option chain data

Examples

=mxls.QM_GetOptionChainAtTheMoney("AAPL")
ATM options for Apple
=mxls.QM_GetOptionChainAtTheMoney("SPY")
ATM options for SPY
=mxls.QM_GetOptionChainAtTheMoney(A1)
Symbol from cell reference

When to Use

  • Straddle and strangle strategies
  • Delta-neutral trading
  • Volatility trading
  • Finding highest gamma options

When NOT to Use

Scenario Use Instead
Need full option chain QM_GetOptionChain()
Need ITM options QM_GetOptionChainInTheMoney()
Need OTM options QM_GetOptionChainOutOfTheMoney()
Need all with Greeks QM_GetOptionQuotesAndGreeks()

Common Issues & FAQ

What defines ATM exactly?

ATM options have strikes closest to the current stock price. If stock is at $150.50, the $150 and $151 strikes may both be considered ATM.

Why are ATM options important?

ATM options have:

  • Highest time value
  • ~50 delta (move $.50 for every $1 stock move)
  • Most sensitivity to volatility changes

Why use ATM for straddles?

ATM straddles are delta-neutral and profit from price movement in either direction.

Related Formulas

More MarketXLS Options formulas you can use in the same worksheet:

See QM_GetOptionChainAtTheMoney used in a complete workbook: Live Option Chain Data in Google Sheets: What GOOGLEFINANCE Covers and Where MarketXLS Picks Up

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MarketXLS Excel Add-in Tutorial - How to Use Option Chain At The Money and Other Financial Formulas
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