# GET /api/mcp/data/vrp/{ticker}/expirations

> Where on NVDA's curve is the premium over realized sitting?

For each of the next expirations returns that expiration's IV, the realized vol over a matching horizon, the premium in points and as a share, and a signal, plus an average and a regime label for the curve.

- **Family:** Implied volatility (https://apexvol.com/developers/implied-volatility-api)
- **Plan:** Premium and above. Every call needs `Authorization: Bearer avmcp_<token>`; tokens are issued to paid and trial accounts under Account, then API Access.
- **Units:** iv, hv and vrp are annualised percentage points; vrp_pct is the premium as a percentage of realized.
- **Basis:** Per-expiration IV is the ATM chain IV; realized is matched to the days to that expiration.
- **MCP tools:** `get_volatility_risk_premium`
- **Background:** https://apexvol.com/learn/volatility-risk-premium

## Parameters

| Name | In | Default | Range | Meaning |
|---|---|---|---|---|
| `ticker` (required) | path |  | any covered symbol | The underlying, upper case. Use /search to check coverage. |
| `max_expirations` | query | 10 | 1 to 30 | How many expirations to include. |

## Request

```bash
curl -H "Authorization: Bearer avmcp_YOUR_TOKEN" \
     "https://apexvol.com/api/mcp/data/vrp/NVDA/expirations?max_expirations=6"
```

## Response (captured 2026-09-08)

Real response, lists cut to the rows nearest the money. The envelope is `{"success": true, "data": ...}`.

```json
{
  "success": true,
  "data": {
    "as_of": "2026-09-08T08:06:55.731276",
    "avg_vrp": -10.47,
    "iv_units": "percentage_points",
    "regime": "UNDERPRICED",
    "regime_desc": "Options are significantly underpriced relative to historical moves.",
    "stock_price": 230.3,
    "ticker": "NVDA",
    "vrp_by_expiration": [
      {
        "dte": 1,
        "expiration": "2026-09-09",
        "hv": 27.24,
        "iv": 25.87,
        "signal": "NEUTRAL",
        "vrp": -1.37,
        "vrp_pct": -5.0
      },
      {
        "dte": 3,
        "expiration": "2026-09-11",
        "hv": 27.24,
        "iv": 30.44,
        "signal": "NEUTRAL",
        "vrp": 3.2,
        "vrp_pct": 11.7
      },
      {
        "dte": 6,
        "expiration": "2026-09-14",
        "hv": 27.24,
        "iv": 28.78,
        "signal": "NEUTRAL",
        "vrp": 1.54,
        "vrp_pct": 5.6
      }
    ]
  }
}
```

## Fields

- `vrp_by_expiration[].expiration, dte`: The expiration and days to it.
- `vrp_by_expiration[].iv, hv, vrp, vrp_pct`: The premium at that date.
- `vrp_by_expiration[].signal`: RICH, CHEAP or NEUTRAL.
- `avg_vrp, regime, regime_desc`: The curve in one line.

## Errors

- `401`: no or revoked token
- `429`: Retry-After seconds
- `403`: Premium plan required
- `424`: data feed unavailable, retry
- Full list: https://apexvol.com/developers/errors

## Ask it in an MCP client

- Which NVDA expiration has the richest premium over realized?
- Is the front of the SPY curve rich or cheap to realized?
- Break down AAPL's VRP by expiration.

Conventions for units, bases and timestamps: https://apexvol.com/developers/conventions