Skew Strategy API

Endpoint

curl -H "X-Api-Key: YOUR_API_KEY" \
  "https://lab.flashalpha.com/v1/strategies/skew/SPY"

import requests

resp = requests.get(
    "https://lab.flashalpha.com/v1/strategies/skew/SPY",
    headers={"X-Api-Key": "YOUR_API_KEY"}
)
data = resp.json()
print(f"{data['regime']} rr25={data['metrics']['risk_reversal_25d']}")

const resp = await fetch(
  "https://lab.flashalpha.com/v1/strategies/skew/SPY",
  { headers: { "X-Api-Key": "YOUR_API_KEY" } }
);
const data = await resp.json();
console.log(`${data.regime} rr25=${data.metrics.risk_reversal_25d}`);

Response

Returns the standard strategy decision envelope. This is a pure-signal endpoint, so best_structures is always empty and decision is neutral. Only metrics and regime change per strategy.

{
  "strategy": "skew",
  "symbol": "SPY",
  "timestamp": "2026-06-05T14:32:11Z",
  "decision": "neutral",
  "score": 55,
  "confidence": 0.81,
  "regime": "put_skew",
  "best_structures": [],
  "metrics": {
    "expiry": "2026-06-19",
    "days_to_expiry": 14,
    "atm_iv": 0.142,
    "call_iv_25d": 0.131,
    "put_iv_25d": 0.168,
    "risk_reversal_25d": -0.037,
    "skew_slope": -0.18,
    "dominant_wing": "put",
    "sample_count": 42,
    "underlying_price": 589.12
  },
  "risk_flags": [],
  "why": ["25-delta puts trade 3.7 vol points over 25-delta calls (put-skewed)."],
  "avoid_if": ["Sample is thin or the wings cannot both be priced."],
  "data_quality": { "score": 88, "warnings": [] }
}

Strategy-specific fields

Notable metrics keys (in addition to the always-present underlying_price):

regime values: put_skew, call_skew, flat_skew; plus no_skew_data (insufficient-data case).

Errors

About

This strategy is a pure-signal read of 25-delta skew for a single expiry: it reports put vs call wing richness, the 25-delta risk reversal, ATM and 25-delta IVs, the skew slope, and the dominant wing. No trade structure is selected.

It returns the standard strategy decision envelope shared by all Strategy Signals endpoints, but as a signal-only read best_structures is always empty and decision is neutral. When both 25-delta wings cannot be priced, it returns decision: insufficient_data with regime: no_skew_data.

Common Use Cases

• Read the skew regime - use regime to classify an expiry as put-skewed, call-skewed, or flat and pick the right wing to fade
• Trade only clean signals - act when decision is candidate and skip no_setup reads without review
• Drop in the proposed structure - pull best_structures[] for a risk-reversal or wing-credit spread sized to the skew dislocation
• Rank the watchlist - sort a universe by score to surface symbols with the most extreme wing richness
• Size on conviction - scale exposure by score and confidence rather than treating every steep skew alike
• Respect the guardrails - honor risk_flags[] and require a clean data_quality before acting on a thin-wing fit

Related

Related reading

• Volatility skew trading strategies with live data - practical setups built on the skew read
• ML on options data: a quant guide - feed skew features into a systematic model
• Alpha decay: which signals erode - how quickly a skew edge fades

Complementary endpoints

• Strategy Signals overview - the shared decision envelope across every strategy
• Tail Pricing - price the downside wing the skew is steepening
• Surface Anomaly - confirm the wing dislocation against the full fitted surface