what is an options chain 
an options chain also known as an options matrix is a listing of all available options contracts for a given security it shows all listed puts calls their expiration strike prices and volume and pricing information for a single underlying asset within a given maturity period the chain will typically be categorized by expiration date and segmented by calls vs puts an options chain provides detailed quote and price information and should not be confused with an options series or cycle which instead simply denotes the available strike prices or expiration dates understanding option chainsoption chains are probably the most natural form of presenting information for retail investors the option quotes are listed in an easy to understand sequence traders can find an option premium by following the corresponding maturity dates and strike prices depending on the presentation of the data bid ask quotes or mid quotes are also displayable within an option chain the majority of online brokers and stock trading platforms display option quotes in the form of an option chain using real time or delayed data the chain display allows quick scanning of activity open interest and price changes traders can hone in on the specific options required to meet a particular options strategy traders may quickly find an asset s trading activity including the frequency volume of trading and interest by strike price and maturity months sorting of data may be by expiration date soonest to furthest and then further refined by strike price from lowest to highest decoding the option chain matrixthe terms in an options matrix are relatively self explanatory a skilled user can quickly decipher the market regarding price movements and where high and low levels of liquidity occur for efficient trade executions and profitability this is critical information there are four columns of information that traders focus on to assess current market conditions the columns are last price net change bid and ask yahoo financein the columns following the four listed above you will find important information to gauge market size for a given option and how traders are committed at each price level trading volume or the number of contracts that change hands in a given day indicates how much liquidity there might be for any given option open interest meanwhile measures the total number of options outstanding on each strike and maturity allowing you to gauge the scale of market commitment the real level of open interest varies intraday market makers report the information shown in the option chain only at the end of each trading day the option chain matrix is most useful for the next trading day 