To get live option chain data in Excel, install the MarketXLS add-in and enter =QM_GetOptionChain("AAPL") in a cell. The function returns the option chain for the underlying, with strikes, expirations, bid and ask, volume, open interest, and Greeks, as rows you can sort, filter, and chart. Option data is end-of-day on the Standard plan and real-time streaming on the Advanced and Business plans. For NSE options (Nifty, Bank Nifty, stock options), MarketXLS India pulls the chain through a Zerodha or Angel One account.
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How to pull a live option chain into Excel with MarketXLS
The MarketXLS option chain workflow has three steps.
- Install MarketXLS. Use the Windows desktop add-in, or the Microsoft 365 add-in for Excel on Mac and Excel for the web (formulas there use the
mxls.prefix). See choose your version. - Return the chain.
=QM_GetOptionChain("AAPL")spills the chain for AAPL. Replace the ticker with a cell reference to reuse the sheet for any stock or ETF. - Track single contracts.
=OptionSymbol("AAPL", DATE(2026,12,18), "C", 200)builds a contract symbol, which you can pass to quote functions such as=QM_Last(),=Bid(), and=Ask()to track specific strikes.
Streaming uses one live symbol subscription per unique option contract, and options tracking is limited to 300 symbols, so stream the contracts you trade and keep the full chain on demand. Plan details are on the pricing page and the options data docs.
For NSE options, see the NSE option chain in Excel guide.
What an option is
An option is a derivative contract whose value comes from an underlying asset such as a stock, index, ETF, currency, or commodity. It gives the buyer the right, but not the obligation, to buy (call) or sell (put) the underlying at a set strike price on or before a set expiration date. Options can produce large gains or losses, so understand how they are priced before trading them.
What an option chain shows
An option chain lists every available option contract for one underlying. Strike prices sit in the center column, calls on one side and puts on the other, with price, volume, open interest, and implied volatility for each contract. Many option chain views also mark in-the-money strikes so you can separate ITM from OTM contracts at a glance.
Key elements of an option chain
Underlying asset. The stock, index, ETF, or commodity the options are based on. Its price drives the value of every contract in the chain.
Strike price. The price at which the underlying can be bought (call) or sold (put) on exercise. A chain lists many strikes so traders can pick one that fits their outlook.
Expiration dates. The last day each option can be exercised, listed in chronological order. Expiration affects time value and pricing.
Bid and ask prices. The bid is the highest price a buyer will pay; the ask is the lowest price a seller will accept. The bid-ask spread is part of the cost of trading.
Option type. Calls give the right to buy the underlying; puts give the right to sell it.
Option symbols. Each contract has a unique symbol encoding the underlying, expiration, type, and strike. In MarketXLS, =OptionSymbol() builds it for you.
Volume and open interest. Volume is the number of contracts traded today. Open interest is the number of contracts still outstanding. Both measure liquidity.
Option Greeks in the chain
Option Greeks measure how an option's price responds to changes in its inputs. Each contract in the chain has its own Greeks:
- Delta: change in option price for a move in the underlying price.
- Gamma: rate of change of delta as the underlying moves.
- Vega: sensitivity to changes in implied volatility.
- Theta: sensitivity to the passage of time (time decay).
- Rho: sensitivity to changes in interest rates.
Traders use Greeks to size positions and manage risk across strikes and expirations.
The MarketXLS NSE Option Chain Template shows open interest, volume, price and change, bid-ask quotes, and Greeks (delta, gamma, theta, vega, rho) for NSE options. Find it with other workbooks on the MarketXLS templates page.
Why traders use an option chain in Excel
All contracts in one place. The chain lists every strike and expiration for an underlying, such as AAPL, so you do not add contracts to a watchlist one by one.
Compare expirations. You can compare the same strike across expirations to match a strategy to your time frame.
Price discovery. Bid, ask, and implied volatility for each contract show where the market prices risk. Unusually wide spreads on similar contracts are a warning sign.
Liquidity. Higher volume and open interest usually mean narrower spreads and better fills. Filter the chain in Excel to contracts above a minimum open interest.
Strategy analysis. A chain in Excel lets you compare premiums across strikes, spot ITM and OTM contracts, and price straddles and strangles with your own formulas.
Summary
An option chain lists all options for one underlying with strikes, expirations, bid/ask, volume, open interest, implied volatility, and Greeks. In Excel, =QM_GetOptionChain("AAPL") returns the chain for US stocks and ETFs (end-of-day on the Standard plan, real-time on Advanced and Business), and MarketXLS India returns NSE chains through Zerodha or Angel One. This is educational content, not investment advice.
Learn more
Learn the complete, auditable workflow in the OptionXLS option chain in Excel guide.
