> ## Documentation Index
> Fetch the complete documentation index at: https://docs.defiloops.com/llms.txt
> Use this file to discover all available pages before exploring further.

# A live option quote

> The real Deribit book: listed contracts with mark, bid and ask: for when somebody is about to trade

**Tool:** `price_options_live`

For "what would it cost to hedge this, right now".

Every leg is a **real listed contract**, named in the answer with its mark, its
bid and its ask.

## What it answers

```
LIVE on Deribit. ETH at $2,618, quoted now.

  buy  ETH-25JUN27-2100-P     strike $2,100 (0.80x spot), 285d
       mark $250 per contract, IV 56.5%, bid $246 / ask $254

  net           -9.55% of the position to put on
                $96 on $1,000 of ETH
```

## The mark is not a fill

Deribit's mark sits between a bid and an ask, and both are shown. A real fill is
at one of those.

## The nearest listed contract, named

Deribit lists the expiries and strikes it lists. Asking for 365 days gets
whatever is nearest. 285 days in the example above, and the answer **names the
instrument**, so the substitution is visible rather than hidden inside a number.

## A quote is denominated in the underlying

Deribit prices an option as a fraction of the underlying: a mark of `0.16362` on
ETH means 0.16362 ETH, not sixteen cents. The tool converts it; anything reading
the raw API must too, or protection looks three orders of magnitude cheaper than
it is.

## Related

[price\_options](/tools/price-options) prices from recorded daily data and adds
the dear-or-cheap reading. This one is the venue's own book, and is the right
call when the next step is placing the trade.


## Related topics

- [Every tool](/tools/reference.md)
- [Reading the market now](/tools/live-reads.md)
- [Pricing a hedge](/tools/price-options.md)
- [What we hold](/data/streams.md)
- [Using a Safe wallet](/safe.md)