MarketXLS

Option Chain Out Of The Money

Returns only out-of-the-money (OTM) options from the option chain using QuoteMedia's data service.

What is Out-of-the-Money (OTM)?

Option Type OTM When
Call Strike > Current Stock Price
Put Strike < Current Stock Price

OTM options have no intrinsic value - only time value (extrinsic value).

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 only OTM options
  • Lower premium than ITM options
  • Higher percentage returns but higher risk

Syntax

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

Parameters

symbolstringRequired

Underlying stock ticker symbol

Returns

array

Out-of-the-money option chain data

Examples

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

When to Use

  • Speculative trading strategies
  • Lower capital requirement
  • High risk/reward trades
  • Selling premium strategies

When NOT to Use

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

Common Issues & FAQ

What determines if an option is OTM?

For calls: strike > stock price. For puts: strike < stock price.

Why are OTM options cheaper?

OTM options have no intrinsic value, only time value. They expire worthless if the stock doesn't move favorably.

What's the risk of OTM options?

Higher chance of expiring worthless. However, they offer leveraged exposure with limited capital.

Related Formulas

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

See QM_GetOptionChainOutOfTheMoney used in a complete workbook: Credit Spread Calculator Excel: Build, Analyze & Screen Options Spreads in Your Spreadsheet

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