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For spread & condor traders

Stop guessing structure, score the trade with directional VRP and skew.

Directional VRP decomposes premium into put and call sides, skew shows where the richness is, and key levels frame the wings, so you pick the structure with the real edge.

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Free tier, no card required · Cancel anytime · Live in 60 seconds

Implied vs realized vol SPY
Implied vol (IV)22.4%
Realized vol (HV20)15.1%
VRP +7.3 · 86th pct rich: selling favored
Same JSON live & historical
No lookahead bias
REST + Python/JS/C#/Go/Java SDKs
6,000+ tickers, computed per-tick
The problem

What the usual options data leaves you fighting

01

Iron condors assume symmetric volatility; the skew usually says otherwise.

02

You pick a structure by feel, not by where the premium actually sits.

03

Walls and levels shift your short strikes after you're already on.

What FlashAlpha gives you

Score the structure before you place it: directional VRP tells you which side is rich, skew confirms it, and key levels mark where to set the wings.

One call, ready to use
curl -H "X-Api-Key: YOUR_KEY" \
  "https://lab.flashalpha.com/v1/vrp/SPY"
{
  "symbol": "SPY",
  "vrp": 2.9,
  "directional_vrp": { "put_side": 3.6, "call_side": 1.4 },
  "structure_scores": { "put_credit_spread": 0.81, "iron_condor": 0.42 }
}
Go deeper
Structure selection 3 articles
Directional VRP: why iron condors are often wrong Scoring VRP to pick the right structure Max-pain & pin-risk expiration setups
Backtests 4 articles
SPY put-credit-spread: an 8-year backtest Short put spreads: an honest 7-year VRP backtest Put-credit-spread matrix: theoretical vs realized The fill model is the edge: VRP backtests
Vol & timing 2 articles
Volatility skew trading strategies on live data IV rank vs IV percentile: which to use

Live in three steps

1
Grab your API key

Sign up free, no card. Your key works on every endpoint instantly.

2
Call the endpoint

One GET request per ticker returns computed analytics, no rebuilding greeks or exposure yourself.

3
Wire it in

Drop it into your dashboard, model or backtest. Live and historical share one response shape.

Questions, answered

Why are iron condors often the wrong structure?

VRP is usually asymmetric, the put side is richer than the call side. A symmetric condor sells cheap call premium; decomposing VRP shows when a one-sided credit spread has the better edge.

How do you score a structure?

The VRP dashboard returns suitability scores per structure (condor, put/call credit spread) from directional VRP, skew and regime, so you compare candidates on edge rather than feel.

Which plan do I need for structure scoring?

Key levels are Free and vol/skew is Growth; the VRP dashboard with directional VRP and structure scores is Alpha.

Is the edge backtested?

Yes, the put-credit-spread study above runs an 8-year backtest with market-maker fills and a VRP signal, so you can see drawdowns, not just averages.

Recommended plan
Growth $239/mo

billed annually ($2,868/yr)

Growth covers vol, skew and levels; Alpha adds directional VRP and structure scoring to pick the trade with the real edge.

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  • ✓  No card for the free tier
  • ✓  Cancel anytime
  • ✓  Same data live & historical
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Directional VRP decomposes premium into put and call sides, skew shows where the richness is, and key levels frame the wings, so you pick the structure with the real edge.

Get Your API Key Read the docs