Definition
An options chain is a tabular display that lists all listed options contracts for a particular underlying asset at a given time. It typically shows calls and puts side by side, grouped by expiration dates and strike price levels. Each row in the chain corresponds to a specific combination of expiration date and strike price, with associated data such as last traded price, bid and ask prices, and trading volume. In crypto markets, an options chain serves the same organizing role as in traditional finance, but the underlying asset is usually a cryptocurrency or related index.
The options chain structure allows market participants to see the full set of standardized contracts available for an asset in one place. By presenting contracts across multiple strike price levels and maturities, it provides a snapshot of how the market is pricing different potential future outcomes. While the chain itself is only a display of existing contracts and their basic metrics, it forms a foundational concept for understanding how options markets are organized and how information about options is presented.
In Simple Terms
An options chain is like a menu of all the options contracts that exist for a specific coin, token, or other asset. It lines up contracts by strike price so it is clear which price level each contract is tied to. It also groups contracts by when they expire, so contracts with the same date and strike price appear together. Instead of explaining how to trade, the options chain simply lays out the available choices and their basic market information in a structured format.