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Options Price Reporting Authority (OPRA) is the U.S. agency responsible for the collection and dissemination of price quotes of listed option contracts. On behalf of its members, which include options exchanges and dealers across the U.S., OPRA collects and distributes real-time quotes of option contracts in the form of options chains, which are tables of data that show the best national bid and offer for a particular option contract or series.

OPRA’s services are vital to many different members in the financial services industry, including financial firms, brokers and traders. This data feed helps the industry participants assess the liquidity of an option market and make better-informed decisions when trading these contracts.

OPRA is operated under the umbrella of the Options Clearing Corporation (OCC), the central counterparty for all trades of listed options contracts. The OCC is a wholly owned subsidiary of the Chicago-based Options Industry Council and is designated as the systemically important financial market utility. As such, it holds significant responsibility for the efficient operations of the options market and the safety of the entire options ecosystem.

By employing rigorous standards for security, compliance and accuracy, OPRA is able to provide its members with timely, reliable quotes of option prices. The data feed contains a wide range of information tailored to meet the specific needs of each OPRA member. In addition to the bid and offer prices, OPRA’s data feed also includes strike prices, expirations dates, open interest, volume, and information on premiums.

Thanks to OPRA’s real-time availability of options quotes and market data, industry participants are able to more effectively assess the direction of the market, identify profitable opportunities, and make informed trading decisions. This makes OPRA an essential partner in the options trading industry and a valuable asset to any financial professional seeking to trade options.