Godel Terminal Options: what OMON and OVME document, and what they do not

Godel Terminal documents two options commands, and no third among its 48 command pages. OMON is the live chain — every strike and expiration with bid, ask, last, volume, implied volatility and 7 Greeks — and OVME is a Black-Scholes calculator that prices one theoretical call and put from a single set of inputs. Both doc pages state the command is available on every Godel plan, so options are not gated behind a higher tier. What is absent is the rest of an options desk: no order entry, no strategy payoff, no volatility surface, and a pricing model the vendor itself labels an approximation for American-style contracts.

Sourcing: the behaviour on this page comes from the vendor's own OMON and OVME documentation pages, plus the G and FOCUS pages and the asset-class coverage page, the traders page and the pricing page, all read on 3 September 2026. Where those pages are silent, this page says "not published" instead of filling the gap.

OMON: the chain, column by column

The doc gives the command grammar as security identifier / ticker, country / instrument, asset class, then OMON — its worked example is AAPL US EQ OMON, and the FAQ adds that you can type OMON bare or prefix it with a ticker such as NVDA US EQ OMON. What opens is a chain with three display modes:

• Both — calls on the left, puts on the right, the strike column centred.
• Calls — calls only, with the full column depth in view.
• Puts — puts only, same expanded treatment.

The doc notes each mode keeps its own column order and its own Greeks selection — the Greeks choice is "packed into a compact bitmask and stored per mode" — so a layout you build for the calls-only view does not disturb the two-sided view. Columns reorder by dragging headers and resize by dragging the right edge. The default column set is last, bid, ask, volume, iv, plus the Greeks below.

Navigation is an expiration dropdown with arrow keys either side of it, a months-out selector, and a control for how many strikes appear above and below spot — the documented default is 10 each way. A QuickQuote chip carries the underlying's live price, and a highlighted band reading "Last Price: x.xx" sits between the in-the-money and out-of-the-money halves of the grid, so you can see where spot cuts the ladder without reading strikes. Rows update live over websocket, and the navigation controls are debounced by roughly 300ms so dragging through expirations does not fire a request per keystroke. A name with no chain renders "No options data found for [ticker]" rather than an empty grid.

Clicking a contract opens a context menu that launches three other commands: FOCUS, G for a chart of that contract, and OVME. That is the documented path from a strike you noticed to a chart or a theoretical price — worth knowing, because none of the doc pages read for this page describe typing an option symbol at the command line.

The 7 Greeks on the chain, and the 5 in the calculator

The two options commands do not carry the same Greeks, which matters if you plan to move between them:

Lambda and epsilon are the two the calculator does not carry, and the chain glosses them only as "Price elasticity" and "Dividend sensitivity". Both toggle through the Greeks selector the doc places in the quick-settings bar — "toggle which greeks you want visible" — so a layout that does not need them can hide them.

OPT, CALL and PUT: three ways into one window

The OMON doc is explicit: "OPT, CALL, and PUT are all aliases for OMON: they open the same options chain", adding "OPT was the legacy mnemonic (pre-2025); OMON is now the canonical shortcut" and a note that "OMON replaces the legacy OPT command: they are now the same component". The trap for anyone writing a cheat sheet from URLs alone:

That is why "OPT is not a real command" circulated for so long, this site included: the URL check passes for OMON and fails for OPT, and a guide built on URL checks concludes the command is fake. It is not. The full alias set and our dated correction live on the phantom-commands page.

OVME: five inputs, a call and a put, European exercise

OVME opens two ways per its doc. Scoped — AAPL US EQ OVME — pre-populates the calculator from live spot pricing. Bare — OVME — opens an empty calculator you fill in yourself. Five inputs, with the doc's stated defaults:

Every edit recalculates immediately, and the output is two columns — call and put — each showing a theoretical price and 5 Greeks. Prices display in the security's native currency symbol when one is attached.

Then the caveat that decides whether OVME is useful to you, in the vendor's words: "Because it uses Black-Scholes, outputs assume European-style exercise; results are approximations for American-style contracts." Listed US single-name equity options are American-style by market convention — background rather than a vendor statement — so for most of what OMON will put in front of you, OVME is an approximation rather than a valuation. The doc adds a second piece of candour worth quoting: the OVME name is "retained as the Bloomberg-familiar mnemonic; today it exposes only the Black-Scholes model (more pricing models may be added in the future)". It is a mnemonic borrowed from a much larger function, and the doc says so.

Which options data you are actually reading

The coverage page sources options from OPRA — "consolidated U.S. options" — and Cboe, lists equity, ETF and index options as real-time, and names SPX, VIX and RUT among the index options carried at real-time speed. It lists no non-US options feed. The OMON doc, meanwhile, answers its own FAQ with "OMON loads the options chain for any optionable security, including ETFs and index options" and says it works for non-US securities. Those two statements are hard to reconcile: a chain that loads for a non-US name still needs a feed the coverage table does not list. Nothing published resolves it, so test a non-US chain during the 14-day trial. The rest of the delay picture is on the data-coverage page.

Charting a contract: G defaults to one-minute candles

Because OMON's context menu launches G on a selected contract, the G doc's resolution table is part of the options story: it lists "Options (OPT): 1 Minute" as the default candle resolution, against the one-day default the same table gives other asset classes. The same page carries a constraint worth knowing before you blame the contract: "Chart data is gated on the AGGREGATE_RTH feed; if a security is missing that feed, the chart area will render empty." An empty option chart is therefore a feed question, not necessarily a liquidity question.

One loose end: FOCUS is the third launch target from the chain, yet the FOCUS doc lists its asset classes as equities, treasuries, currency pairs, crypto, indices and futures, without naming options. The two pages do not settle whether a contract in a FOCUS window is documented behaviour.

Measured against a full options platform

If you came from a dedicated options tool, this is the honest gap list. Every "not published" below means we could not find it on any vendor page, not that we tested and found it missing.

Read that as a scope statement rather than a verdict. Where the gap bites is the volatility work — surfaces, skew, term structure and contract history are what an options-first user will miss soonest, and none of them have a published page. There is no public API to rebuild them from either: the vendor's own FAQ lists the API as Coming soon — beta testers and a waitlist via sales, per godelterminal.com/pricing FAQ, checked 2026-09-03 — the API situation in full.

What options cost here

Nothing extra, as far as anything published says. Both option commands state they are available on every Godel plan and no options data add-on appears on the pricing page, so the chain and the calculator come with the seat: $118/month or $996 per seat / year. The exception is regulatory rather than product — FINRA-licensed users pay the $30/month surcharge. Whether an anonymous session or a 14-day trial account gets live option quotes rather than a gated view is not stated on either doc page.

Put plainly, for anyone pricing a seat rather than trialling one: the Godel Terminal options tools — the OMON chain and the OVME calculator — are included on every plan at $118/month or $996 per seat / year, and promo code TAKE30 takes 30% off the first month. It is a first-month discount, not a recurring one, and it was last applied at a checkout on 30 July 2026.

Related reading

• All 48 documented commands with provenance badges: the command reference →
• Which feeds are real-time and which are delayed: data coverage →
• Why OPT was on phantom-command lists: the corrections ledger →
• Getting numbers out of the terminal: Excel and export →
• How the options story compares to the incumbent's derivatives analytics: vs Bloomberg →

Frequently asked questions

Does Godel Terminal have an options chain?

Yes. OMON is the documented option-chain command: every strike and expiration for a security with last, bid, ask, volume, implied volatility and 7 Greeks, streamed over websocket. The doc page states OMON is "available on every Godel plan", so the chain is not a paid add-on tier. Open it by prefixing a security — the doc's example is AAPL US EQ OMON.

Does the OPT command work in Godel Terminal?

Yes, as an alias. The OMON doc states "OPT, CALL, and PUT are all aliases for OMON: they open the same options chain", and adds "OPT was the legacy mnemonic (pre-2025); OMON is now the canonical shortcut." The confusion is that godelterminal.com/docs/commands/opt is a genuine 404 while the typed command works. This site listed OPT as nonexistent until 5 August 2026 and corrected it in public.

Which Greeks does Godel Terminal show?

The OMON chain documents 7: delta, gamma, vega, theta, rho, lambda, epsilon. The OVME Black-Scholes calculator documents 5 — delta, gamma, vega, theta, rho — alongside a theoretical price, in separate call and put columns. Lambda and epsilon appear on the chain and not in the calculator. Conventions are only partly published: OVME defines vega as "sensitivity to a 1% change in volatility", theta as "daily time decay (scaled to a 365-day year)" and rho as "sensitivity to a 100 bp change in the risk-free rate", while the chain gives one-line descriptors such as delta's "Price sensitivity to underlying ($1 move)". Neither page spells out a sign convention.

Can you trade options in Godel Terminal?

No. The vendor's own positioning line is "Godel is your data and tape layer, not a broker. Run it next to whatever you trade through." There is no documented order ticket, no multi-leg builder and no paper trading. The BROK command connects brokerages read-only through SnapTrade — what that link does and does not do. OMON is a screen you read, not one you send from.

Is OVME accurate for American-style options?

The doc page answers that itself: "Because it uses Black-Scholes, outputs assume European-style exercise; results are approximations for American-style contracts." It also notes the OVME label is kept as the Bloomberg-familiar mnemonic and that today it exposes only the Black-Scholes model, with more models possibly added later. For early-exercise-sensitive positions, treat the output as an approximation the vendor has already flagged.

Does Godel Terminal have a volatility surface or an options flow scanner?

Not published. Among the 48 documented command pages there is no volatility-surface, skew, term-structure, unusual-activity or options-screener page. EQS screens the equity universe, not contracts. If a guide tells you otherwise, ask it for the doc URL.

Does the Godel Terminal options chain show open interest?

The vendor's traders page advertises an "options chain with greeks, IV, and open interest", but the column list on the OMON doc page names last, bid, ask, volume, iv and the Greeks, without naming open interest. Two vendor surfaces, one gap between them. Check the column selector in your own session before relying on it.