API Terms of Service

These API Terms of Service (“API Terms”) govern your access to and use of the quantedOptions application programming interface (“API”). These API Terms supplement and are incorporated into the quantedOptions Terms of Service located at quantedoptions.com/terms (“General Terms”). In the event of a conflict between these API Terms and the General Terms, these API Terms shall control with respect to API access and data obtained through the API.

By generating an API key, making any API request, or otherwise using the API, you acknowledge that you have read, understood, and agree to be bound by these API Terms.

1. Definitions

1.1 “API Data” means all data, analytics, metrics, and other information delivered through the API, including but not limited to gamma exposure (GEX), delta exposure (DEX), vanna exposure (VEX), charm exposure (CEX), per-contract pricing, and any other derived exposure metrics.

1.2 “Derived Data” means data that has been computed, transformed, or calculated by quantedOptions using proprietary algorithms and Black-Scholes-Merton or other mathematical models applied to licensed source data. All API Data is Derived Data.

1.3 “Source Data” means the underlying raw market data, including but not limited to options positioning data, open interest data, contract-level volume data, and participant-level flow data licensed by quantedOptions from the Chicago Board Options Exchange (CBOE), C1 Options Exchange, or other data providers. Source Data is not delivered through the API.

1.4 “Competing Product” means any product, service, platform, API, data feed, dashboard, publication, or tool that (a) provides options gamma exposure, delta exposure, vanna exposure, charm exposure, or similar options-derived flow or positioning analytics, or (b) provides strike-level or expiry-level options exposure data for any purpose, whether offered commercially, for free, or for internal use by a third party.

1.5 “You,” “your,” or “Subscriber” means the individual or legal entity that has been issued an API key and has accepted these API Terms.

1.6 “API Key” means the unique bearer credential (prefixed qo_live_) issued to you for API authentication.

2. Permitted Use

2.1 Internal analytical use. You may use API Data solely for your own internal analytical, research, and trading purposes. “Internal” means use by you as a natural person, or, if you are a legal entity, use by employees of that single legal entity who have a need to access the data in the course of their duties.

2.2 Non-display use. You may incorporate API Data into your own internal models, algorithms, trading systems, or analytical tools, provided that the output of such systems does not make API Data available to any person or entity outside of the permitted internal use defined in Section 2.1.

2.3 Display use. You may display API Data on internal screens, dashboards, or reports for your own use or the use of permitted persons under Section 2.1, provided that (a) the display includes the attribution “Data: quantedOptions” or “Source: quantedOptions” in a reasonably visible location, and (b) the display is not publicly accessible or accessible to any unauthorized person.

2.4 No other use. Any use not expressly permitted under this Section 2 is prohibited.

3. Prohibited Use

You shall not, and shall not permit any third party to:

3.1 Redistribute. Redistribute, retransmit, resell, sublicense, publish, broadcast, publicly display, or otherwise make API Data available to any third party, in any form (raw, processed, derived, summarized, aggregated, or otherwise), through any medium (including but not limited to websites, APIs, data feeds, email, reports, social media, or printed materials).

3.2 Build competing products. Use API Data, whether alone or in combination with other data, to create, operate, support, enhance, train, or market any Competing Product as defined in Section 1.4.

3.3 Reconstruct source data. Use API Data to reverse-engineer, reconstruct, approximate, estimate, or infer any Source Data, including but not limited to raw contract positions, net positioning, open interest allocations, participant-level volumes, or any other data element that is not directly provided through the API. This prohibition applies regardless of the method used, including but not limited to algebraic inversion, statistical inference, machine learning, or comparison with third-party data sources.

3.4 Build a mirror database. Systematically collect, store, or accumulate API Data over time to create a database, dataset, time series, or archive that replicates or substantially replicates the scope or coverage of the quantedOptions platform or any material portion thereof.

3.5 Train AI/ML models. Use API Data to train, fine-tune, validate, or evaluate any machine learning model, artificial intelligence system, large language model, or similar technology, whether for internal or external use, without prior written consent from quantedOptions.

3.6 Circumvent access controls. Share, transfer, or expose your API Key to any person or system not under your direct control; attempt to access the API without a valid key; exceed rate limits through any technical means; or use multiple keys to circumvent per-key credit limits.

3.7 Remove attribution. Remove, obscure, or alter any proprietary notices, attribution requirements, or metadata included in API responses.

4. API Key Security and Confidentiality

4.1 Your API Key is a confidential bearer credential. You are solely responsible for maintaining the secrecy of your API Key. You shall not share, publish, embed in client-side code, commit to public repositories, or otherwise expose your API Key.

4.2 You are responsible for all activity that occurs using your API Key, whether or not authorized by you. If you suspect unauthorized use of your API Key, you must immediately regenerate your key through the quantedOptions dashboard and notify us at desk@quantedoptions.com.

4.3 quantedOptions is not liable for any damages, losses, or costs resulting from unauthorized use of your API Key.

5. Credits, Billing, and Usage

5.1 Credit-based billing. Each API request consumes one credit. Your subscription includes a monthly credit allotment as specified on your plan. Credits reset at the start of each billing period.

5.2 Overage. Usage exceeding your included credit allotment is billed at the per-credit overage rate in effect at the time of use, as displayed on the quantedOptions pricing page. Overage charges are metered and invoiced through Stripe at the end of each billing period.

5.3 Rate limits. The API is rate-limited to 2 requests per second per API Key. Requests exceeding this rate will receive an HTTP 429 response. Sustained or deliberate attempts to exceed rate limits may result in temporary or permanent suspension of your API Key.

5.4 Fair use. quantedOptions reserves the right to throttle, suspend, or terminate API access for usage patterns that are, in our reasonable judgment, abusive, anomalous, or inconsistent with the intended use of the API, even if such usage falls within your credit allotment.

6. CBOE Data Licensing Pass-Through

6.1 Upstream licensing. API Data is derived from market data licensed by quantedOptions from the Chicago Board Options Exchange (CBOE) and the C1 Options Exchange. Your use of API Data is subject to and must comply with the restrictions imposed by those upstream licensing agreements.

6.2 Subscriber classification. You represent and warrant that the subscriber classification (Professional or Non-Professional) you provided at the time of subscription is accurate and complete, as defined by applicable exchange rules. You must promptly notify quantedOptions if your classification changes.

6.3 CBOE ownership. CBOE retains all rights in its market data. Nothing in these API Terms grants you any ownership interest in any CBOE data, whether raw or as incorporated into Derived Data.

6.4 CBOE as third-party beneficiary. CBOE is an intended third-party beneficiary of Sections 3, 6, and 8 of these API Terms, with the right to enforce those provisions directly against you.

6.5 Audit. quantedOptions and its licensors (including CBOE) reserve the right to audit your use of API Data to verify compliance with these API Terms.

7. Data Retention and Deletion

7.1 During subscription. You may retain API Data obtained during your active subscription period for your permitted internal use under Section 2.

7.2 Upon termination. Within thirty (30) days of the termination or expiration of your API access for any reason, you must permanently delete all API Data in your possession or control, including all copies, backups, exports, and data derived from API Data. Upon request, you shall certify in writing that such deletion has been completed.

7.3 Exceptions. You may retain API Data beyond the deletion period solely to the extent required by applicable law or regulation, provided that such retained data remains subject to the confidentiality and use restrictions of these API Terms.

8. Intellectual Property

8.1 Ownership. All API Data, the API itself, the derivation methodologies, algorithms, computational models, and all associated intellectual property are and shall remain the exclusive property of quantedOptions, LLC or its licensors. These API Terms grant you a limited, non-exclusive, non-transferable, revocable license to use API Data solely as permitted under Section 2. No other rights are granted, whether by implication, estoppel, or otherwise.

8.2 Feedback. If you provide suggestions, ideas, or feedback regarding the API, you grant quantedOptions a perpetual, irrevocable, royalty-free license to use such feedback for any purpose without obligation to you.

9. Disclaimer of Warranties

10. Limitation of Liability

11. Indemnification

You agree to indemnify, defend, and hold harmless quantedOptions, LLC, its officers, directors, members, employees, agents, and licensors (including CBOE) from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or related to: (a) your use of the API or API Data; (b) your breach of these API Terms; (c) your violation of any applicable law; (d) any claim by a third party arising from your use of API Data; or (e) your trading or investment decisions.

12. Export Compliance

You represent that you are not located in any country subject to comprehensive U.S. economic sanctions, and that you are not on any U.S. government restricted parties list. You agree to comply with all applicable export control laws in your use of the API.

13. Suspension and Termination

13.1 By you. You may terminate your API access at any time by canceling your subscription through your account settings.

13.2 By quantedOptions for cause. quantedOptions may immediately suspend or terminate your API access, without notice or refund, if you breach any provision of these API Terms.

13.3 By quantedOptions without cause. quantedOptions may terminate your API access for any reason upon thirty (30) days' written notice with a prorated refund.

13.4 Effect of termination. Upon termination: (a) your API Key will be immediately deactivated; (b) all licenses terminate; (c) you must comply with data deletion in Section 7; and (d) Sections 3, 6, 7, 8, 9, 10, 11, 12, and 15 survive.

14. Service Level

14.1 quantedOptions will make commercially reasonable efforts to maintain API availability during U.S. equity market hours (09:30–16:15 ET, Monday through Friday, excluding market holidays).

14.2 These API Terms do not include a service level agreement (SLA) with guaranteed uptime or financial remedies for downtime.

15. General

15.1 Entire agreement. These API Terms, together with the General Terms and Privacy Policy, constitute the entire agreement between you and quantedOptions regarding your use of the API.

15.2 Amendments. quantedOptions may modify these API Terms by posting a revised version. Material changes will be notified via email at least thirty (30) days before taking effect.

15.3 Governing law. These API Terms are governed by and subject to the dispute resolution provisions in the General Terms.

15.4 Severability. If any provision is held invalid, the remaining provisions continue in full force.

15.5 Assignment. You may not assign these API Terms or your API Key without our prior written consent.

15.6 Notices. Notices to quantedOptions must be sent to desk@quantedoptions.com with “API Terms” in the subject line.