parity_ladder

Name: parity_ladder
Creator: Strasmore
Published: 2026-09-30
License: https://www.strasmore.com/terms/

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-09-30, from buying-puts-vs-buying-calls.

as of 2026-09-30 ranking 6×4read in context →

parity_ladder — 6 rows by 4 columns, computed 2026-09-30 from US exchange, SIP and OPRA data.
ticker	put_pct_of_spot	call_pct_of_spot	put_minus_call_pct_of_spot
XOM	3.691	3.506	0.185
KO	2.34	2.503	-0.162
SPY	1.601	1.891	-0.291
NVDA	4.634	4.983	-0.349
MSFT	4.025	4.39	-0.366
AAPL	2.99	3.431	-0.441

Rows × columns: 6 × 4
Computed: 2026-09-30
Completeness: No missing values
Source: US exchange, SIP and OPRA market data
Licence: Strasmore terms · free, no signup
Formats: JSON · CSV · the SQL below

What each column holds

Column definitions for parity_ladder, derived from the stored result.
Column	Type	Range	Notes
`ticker`	text	6 distinct values (AAPL, KO, MSFT…)
`put_pct_of_spot`	number	1.601 to 4.634	percent
`call_pct_of_spot`	number	1.891 to 4.983	percent
`put_minus_call_pct_of_spot`	number	-0.441 to 0.185	percent

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on 2026-09-30, and the query below is what returned them.

Run it yourself

This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.

WITH
puts AS
(
    SELECT
        underlying_symbol,
        date,
        strike_price,
        expiration_date,
        toFloat64(option_close)                                     AS put_close,
        toFloat64(underlying_close)                                 AS spot
    FROM global_markets.options_greeks
    WHERE lower(option_type) LIKE 'p%'
      AND underlying_symbol IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'XOM')
      AND date >= '2026-06-01'
      AND date <  '2026-09-01'
      AND volume > 0
      AND days_to_expiry BETWEEN 25 AND 45
      AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.005
),
calls AS
(
    SELECT
        underlying_symbol,
        date,
        strike_price,
        expiration_date,
        toFloat64(option_close)                                     AS call_close
    FROM global_markets.options_greeks
    WHERE lower(option_type) NOT LIKE 'p%'
      AND underlying_symbol IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'XOM')
      AND date >= '2026-06-01'
      AND date <  '2026-09-01'
      AND volume > 0
      AND days_to_expiry BETWEEN 25 AND 45
)
SELECT
    p.underlying_symbol                                             AS ticker,
    round(avg(p.put_close / p.spot) * 100, 3)                       AS put_pct_of_spot,
    round(avg(c.call_close / p.spot) * 100, 3)                      AS call_pct_of_spot,
    round(avg((p.put_close - c.call_close) / p.spot) * 100, 3)      AS put_minus_call_pct_of_spot
FROM puts AS p
INNER JOIN calls AS c
    ON  p.underlying_symbol = c.underlying_symbol
    AND p.date              = c.date
    AND p.strike_price      = c.strike_price
    AND p.expiration_date   = c.expiration_date
GROUP BY ticker
ORDER BY put_minus_call_pct_of_spot DESC

SQL to run

WITH
puts AS
(
    SELECT
        underlying_symbol,
        date,
        strike_price,
        expiration_date,
        toFloat64(option_close)                                     AS put_close,
        toFloat64(underlying_close)                                 AS spot
    FROM global_markets.options_greeks
    WHERE lower(option_type) LIKE 'p%'
      AND underlying_symbol IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'XOM')
      AND date >= '2026-06-01'
      AND date <  '2026-09-01'
      AND volume > 0
      AND days_to_expiry BETWEEN 25 AND 45
      AND abs(toFloat64(strike_price) / toFloat64(underlying_close) - 1) < 0.005
),
calls AS
(
    SELECT
        underlying_symbol,
        date,
        strike_price,
        expiration_date,
        toFloat64(option_close)                                     AS call_close
    FROM global_markets.options_greeks
    WHERE lower(option_type) NOT LIKE 'p%'
      AND underlying_symbol IN ('SPY', 'AAPL', 'MSFT', 'NVDA', 'KO', 'XOM')
      AND date >= '2026-06-01'
      AND date <  '2026-09-01'
      AND volume > 0
      AND days_to_expiry BETWEEN 25 AND 45
)
SELECT
    p.underlying_symbol                                             AS ticker,
    round(avg(p.put_close / p.spot) * 100, 3)                       AS put_pct_of_spot,
    round(avg(c.call_close / p.spot) * 100, 3)                      AS call_pct_of_spot,
    round(avg((p.put_close - c.call_close) / p.spot) * 100, 3)      AS put_minus_call_pct_of_spot
FROM puts AS p
INNER JOIN calls AS c
    ON  p.underlying_symbol = c.underlying_symbol
    AND p.date              = c.date
    AND p.strike_price      = c.strike_price
    AND p.expiration_date   = c.expiration_date
GROUP BY ticker
ORDER BY put_minus_call_pct_of_spot DESC

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