# Pricing and Spread Benchmarks

ClickOptions commits to publishing **independent, data-driven benchmarks** of its option pricing and market quality, ensuring full transparency for traders and partners.

#### **Benchmark Reports**

* Reports are published on a **weekly, monthly, and quarterly basis**.
* Each report compares **ClickOptions quotes and liquidity** against major external options venues (names not disclosed, but benchmarked against industry leaders).
* The goal is to provide **transparent evidence** that ClickOptions consistently delivers competitive spreads and meaningful liquidity.

#### **Methodology**

1. **Data Collection**
   * ClickOptions records all live bid/ask quotes for its listed assets.
   * External benchmark data is collected from major venues via public APIs at synchronized timestamps.
2. **Spread Comparison**
   * For each listed strike and expiry:
     * Calculate ClickOptions’ **best bid–ask spread**.
     * Compare against benchmark venues’ spreads.
   * Spreads are normalized as a percentage of option premium to allow fair cross-venue comparison.
3. **Volume & Depth Analysis**
   * Report includes **best bid/ask depth**: how much volume is available at top-of-book on ClickOptions vs. competitors.
   * Ratio of ClickOptions depth to benchmark depth is published, giving a liquidity coverage score.
4. **Reporting Frequency**
   * **Weekly Snapshot:** high-level spread + volume coverage for the week.
   * **Monthly Report:** detailed analysis with average spreads per asset and tenor.
   * **Quarterly Report:** long-term trend analysis across assets, showing ClickOptions’ relative competitiveness.

#### **Example Metrics (Published in Reports)**

* Average bid–ask spread (% of premium).
* % of time ClickOptions had the best price vs benchmarks.
* Top-of-book depth ratio (ClickOptions vs market).
* Effective liquidity score (weighted by volume).

#### **Transparency Commitment**

* Reports are made public and archived in the ClickOptions GitBook + Research Portal.
* Methodology is fully disclosed and reproducible, allowing independent validation.

<br>


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.clickoptions.ai/trust/pricing-and-spread-benchmarks.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.