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Underlying

Asset the option is based on

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What is Underlying?

Underlying The stock, ETF, or index that an option derives its value from. AAPL stock is the underlying for AAPL options. SPX is the underlying for SPX index options.

Complete definition

The stock, ETF, or index that an option derives its value from. AAPL stock is the underlying for AAPL options. SPX is the underlying for SPX index options.

ApexVol Terminal

Options analytics, live.

Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.

  • Live chains and Greeks
  • IV rank and percentile
  • Expected move and GEX
  • Screener and strategy P&L
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By Ryan Silk & Lawrence Polatchek Last reviewed . Methodology is published in full.

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