> ## Documentation Index > Fetch the complete documentation index at: https://docs.rails.xyz/llms.txt > Use this file to discover all available pages before exploring further. # Quotes Stream > Top-of-book bid/ask prices with implied volatility per contract. This stream is available on the `optionsQuotes` subscription. It provides top-of-book bid/ask prices with implied volatility for each contract, scoped by **underlying** and **expiration date**, like the [Contracts Stream](/latest/options/websocket-api/contracts-stream). #### Snapshot vs. Delta The `emitOptionsQuotes` request returns a snapshot via `optionsQuotes`. After the snapshot, `optionsQuotesDelta` messages stream top-of-book changes per contract. ## AsyncAPI ````yaml latest/options/asyncapi/options-ws.yaml quotesStream id: quotesStream title: Quotes Stream description: > Available on the `optionsQuotes` subscription. Top-of-book bid/ask prices with implied volatility per contract, scoped by underlying and expiration date. servers: - id: sandbox protocol: wss host: ws.sandbox.rails.xyz bindings: [] variables: [] address: >- ?product=options&market={market}&expiration={expiration}&strike={strike}&type={type}&subscriptions=optionsQuotes parameters: - id: market jsonSchema: type: string description: A specific market (e.g. `BTC-USDT`) or `ALL`. default: BTC-USDT description: A specific market (e.g. `BTC-USDT`) or `ALL`. type: string required: true deprecated: false - id: expiration jsonSchema: type: string description: >- Contract expiration, e.g. `24JUN26`. Requires `market`; omit to match every expiration. default: 24JUN26 description: >- Contract expiration, e.g. `24JUN26`. Requires `market`; omit to match every expiration. type: string required: true deprecated: false - id: strike jsonSchema: type: string description: >- Strike price, e.g. `62000`. Requires `expiration`; omit to match every strike. default: '62000' description: >- Strike price, e.g. `62000`. Requires `expiration`; omit to match every strike. type: string required: true deprecated: false - id: type jsonSchema: type: string description: '`C` (call) or `P` (put). Requires `strike`; omit to match both.' default: C description: '`C` (call) or `P` (put). Requires `strike`; omit to match both.' type: string required: true deprecated: false bindings: [] operations: - &ref_2 id: emitOptionsQuotes title: Emit options quotes description: Request top-of-book quotes for an underlying and expiration date. type: receive messages: - &ref_5 id: emitOptionsQuotesRequest contentType: application/json payload: - name: Emit Options Quotes type: object properties: - name: message type: string description: Always `emitOptionsQuotes`. required: true - name: content type: object required: true properties: - name: clientRequestId type: string description: Client-generated UUID for correlation required: false - name: underlying type: string description: >- Underlying asset (bare symbol, not paired with a quote currency), e.g. `BTC` required: true - name: expirationDate type: string description: Expiration date, `YYYY-MM-DD` required: true - name: pageSize type: integer description: Page size for paginated results required: false - name: pageToken type: string description: Cursor for the next page required: false headers: [] jsonPayloadSchema: type: object properties: message: type: string description: Always `emitOptionsQuotes`. x-parser-schema-id: content: type: object properties: clientRequestId: type: string format: uuid description: Client-generated UUID for correlation x-parser-schema-id: underlying: type: string description: >- Underlying asset (bare symbol, not paired with a quote currency), e.g. `BTC` x-parser-schema-id: expirationDate: type: string description: Expiration date, `YYYY-MM-DD` x-parser-schema-id: pageSize: type: integer description: Page size for paginated results x-parser-schema-id: pageToken: type: string description: Cursor for the next page x-parser-schema-id: required: - underlying - expirationDate x-parser-schema-id: required: - message - content x-parser-schema-id: title: Emit Options Quotes example: |- { "message": "emitOptionsQuotes", "content": { "clientRequestId": "4cc68b60-ed2d-42aa-a21e-cb5486f8fd1a", "underlying": "BTC", "expirationDate": "2026-06-19" } } bindings: [] extensions: - id: x-parser-unique-object-id value: emitOptionsQuotesRequest bindings: [] extensions: &ref_0 - id: x-parser-unique-object-id value: quotesStream - &ref_3 id: optionsQuotesSnapshot title: Options quotes snapshot description: Response to `emitOptionsQuotes`. type: send messages: - &ref_6 id: optionsQuotesResponse contentType: application/json payload: - name: Quotes Snapshot description: Response to `emitOptionsQuotes`. type: object properties: - name: resultType type: string description: Always `optionsQuotes`. required: true - name: data type: object required: true properties: - name: quotes type: array description: Top-of-book per contract required: true properties: - name: contract type: string description: Contract name required: true - name: bestBid type: string description: Best bid price; omitted if the bid side is empty required: false - name: bestBidQty type: string description: Best bid size required: false - name: bestBidIV type: string description: Implied volatility at the best bid required: false - name: bestAsk type: string description: Best ask price; omitted if the ask side is empty required: false - name: bestAskQty type: string description: Best ask size required: false - name: bestAskIV type: string description: Implied volatility at the best ask required: false - name: ts type: integer description: Timestamp (ms since epoch) required: true - name: statusCode type: integer description: Always `200`. required: true - name: clientRequestId type: string description: Client-generated UUID for correlation required: false headers: [] jsonPayloadSchema: type: object properties: resultType: type: string description: Always `optionsQuotes`. x-parser-schema-id: data: type: object properties: quotes: type: array description: Top-of-book per contract items: &ref_1 type: object properties: contract: type: string description: Contract name x-parser-schema-id: bestBid: type: string description: Best bid price; omitted if the bid side is empty x-parser-schema-id: bestBidQty: type: string description: Best bid size x-parser-schema-id: bestBidIV: type: string description: Implied volatility at the best bid x-parser-schema-id: bestAsk: type: string description: Best ask price; omitted if the ask side is empty x-parser-schema-id: bestAskQty: type: string description: Best ask size x-parser-schema-id: bestAskIV: type: string description: Implied volatility at the best ask x-parser-schema-id: ts: type: integer description: Timestamp (ms since epoch) x-parser-schema-id: required: - contract - ts x-parser-schema-id: Quote x-parser-schema-id: statusCode: type: integer description: Always `200`. x-parser-schema-id: clientRequestId: type: string description: Client-generated UUID for correlation x-parser-schema-id: required: - quotes - statusCode x-parser-schema-id: required: - resultType - data x-parser-schema-id: title: Quotes Snapshot description: Response to `emitOptionsQuotes`. example: |- { "resultType": "optionsQuotes", "data": { "quotes": [ { "contract": "BTC-24JUN26-62000-C", "bestBid": "1840.00", "bestBidQty": "5", "bestBidIV": "0.54", "bestAsk": "1861.00", "bestAskQty": "4", "bestAskIV": "0.56", "ts": 1767762810250 } ], "statusCode": 200, "clientRequestId": "4cc68b60-ed2d-42aa-a21e-cb5486f8fd1a" } } bindings: [] extensions: - id: x-parser-unique-object-id value: optionsQuotesResponse bindings: [] extensions: *ref_0 - &ref_4 id: optionsQuotesUpdate title: Options quotes update description: Pushed whenever the top-of-book changes for a contract. type: send messages: - &ref_7 id: optionsQuotesDelta contentType: application/json payload: - name: Quote Delta description: Pushed whenever the top-of-book changes for a contract. type: object properties: - name: resultType type: string description: Always `optionsQuotesDelta`. required: true - name: data type: object required: true properties: - name: contract type: string description: Contract name required: true - name: bestBid type: string description: Best bid price; omitted if the bid side is empty required: false - name: bestBidQty type: string description: Best bid size required: false - name: bestBidIV type: string description: Implied volatility at the best bid required: false - name: bestAsk type: string description: Best ask price; omitted if the ask side is empty required: false - name: bestAskQty type: string description: Best ask size required: false - name: bestAskIV type: string description: Implied volatility at the best ask required: false - name: ts type: integer description: Timestamp (ms since epoch) required: true headers: [] jsonPayloadSchema: type: object properties: resultType: type: string description: Always `optionsQuotesDelta`. x-parser-schema-id: data: *ref_1 required: - resultType - data x-parser-schema-id: title: Quote Delta description: Pushed whenever the top-of-book changes for a contract. example: |- { "resultType": "optionsQuotesDelta", "data": { "contract": "BTC-24JUN26-62000-C", "bestBid": "1841.00", "bestBidQty": "6", "bestBidIV": "0.541", "bestAsk": "1860.00", "bestAskQty": "3", "bestAskIV": "0.559", "ts": 1767762820000 } } bindings: [] extensions: - id: x-parser-unique-object-id value: optionsQuotesDelta bindings: [] extensions: *ref_0 sendOperations: - *ref_2 receiveOperations: - *ref_3 - *ref_4 sendMessages: - *ref_5 receiveMessages: - *ref_6 - *ref_7 extensions: - id: x-parser-unique-object-id value: quotesStream securitySchemes: - id: wsAuth name: Sec-WebSocket-Protocol type: httpApiKey description: Supply as `authorization#` during the WebSocket handshake. in: header extensions: [] ````