Catalog first, quotations second
Map each option to a verified stock identifier. Keep calls and puts, strikes, expirations and provider aliases in explicit fields rather than reconstructing the complete contract from a label. A ticker is convenient for a screen; it is not a sufficient long-term key for a research archive. Load the contract universe before attaching quotations.
Display what was actually observed
Show bid, ask and their observation times. Keep last trade, midpoint and modeled value in separate columns if you include them. A missing bid should not become zero, and a midpoint should not be described as an executable offer. Our local chain fixture uses invented prices to demonstrate the interface without making a live-data claim.
Check the quantity behind the premium
Standard U.S. equity option contracts typically cover 100 shares, but corporate actions can change a deliverable. Keep the applicable premium multiplier and deliverable separately in the contract record. The official specification linked below provides the contract context; the related article develops our recommended validation workflow.
Test more than the happy path
Use a normal quote, an incomplete pair, a crossed pair, multiple expirations at the same strike and an adjusted contract. Confirm that sorting never detaches a value from its identifier. Explain collection failures separately from genuinely empty results, and preserve the original precision even when the screen rounds a value.
