Live 4-Leg Ratio Spread Prices
The 4-leg sheet prices a call ratio spread and a put ratio spread together as one four-leg position, live, for every strike. Each table is set by a span and an offset, and each row gives the buy and sell value from the live bid and ask of all four legs.
| Shows | Net credit or debit of a call ratio + put ratio, as one position |
| Tables | Up to 8 tables, each labelled span : offset (e.g. 900 : 400 on NIFTY by default) |
| Rows | 21 strikes around the ATM strike, with a shift to move the window |
| Ratio | 1:2, 1:3 or 1:4 (default 1:4), shared by all tables |
| Pricing | Live bid and ask of all four legs; buy and sell values |
| Instruments | NIFTY, BANKNIFTY, SENSEX, FINNIFTY, MIDCPNIFTY, BANKEX; current and next NIFTY and SENSEX expiries |
| Updates | Streams live during market hours |
| Open it | quintalmind.com/sheets |
What a cell means
Each table has a span (SP) and an offset (O). For row strike S, ratio 1:N and strike gap g (50 on NIFTY, for example), the sheet first finds the two bought strikes:
- Call buy strike CB = S + (SP − 2×O) ÷ 2, rounded up to the strike grid
- Put buy strike PB = S − (SP − 2×O) ÷ 2, rounded down to the strike grid
Then the four legs of the Buy cell are:
- Buy 1 call at CB
- Sell N calls at CB + O
- Buy 1 put at PB
- Sell N puts at PB − O
So the offset is the distance between each bought and sold strike, and the span is roughly the distance between the two sold strikes.
The values are:
- Buy = (N × bid(CB + O) − ask(CB)) + (N × bid(PB − O) − ask(PB))
- Sell (all four legs reversed) = (bid(CB) − N × ask(CB + O)) + (bid(PB) − N × ask(PB − O))
Both are money received minus money paid: a positive number is a net credit and a negative number is a net debit. A cell whose strikes are not all on the chain shows ---.
Example (illustrative): NIFTY, S = 24000, span 900, offset 400, ratio 1:4. The legs are Buy 1 call at 24050, Sell 4 calls at 24450, Buy 1 put at 23950 and Sell 4 puts at 23550.
- Sell 423550PE
- Buy 123950PE
- Buy 124050CE
- Sell 424450CE
Value of these legs at expiry across spot prices, in points, before premiums. It shows the shape of the structure only; the live sheet shows the actual net price.
How to use it
- Sign in with your broker and open Sheets, then pick a symbol in the left panel.
- Find the 4-LEG RATIO SPREAD header. Click it to open or close the tables.
- Pick 1:2, 1:3 or 1:4 in the header. All tables reprice.
- In each table, use − and + (or type a number) to change the span and the offset. Both move in steps of the strike gap, and the offset can be at most half the span.
- Use the ↓ and ↑ buttons in the header to shift every table's strike window together.
- Click a buy or sell cell to see its four legs, Margin, Qty / 1 Cr and Charges (RT) (round-trip charges). From there you can Create Alert or Show Chart.
- Double-click a cell to mark it.
If you signed in with Zerodha, Alice Blue or FYERS, the leg popup also shows Buy and Sell buttons that open the legs as a basket on your broker's own page. Quintal Mind does not place the order.
Related
- Ratio spreads shows call and put ratio spreads one side at a time.
- Combo butterfly uses the same span and offset layout for six-leg butterflies.
- Iron condor and iron butterfly prices a four-leg structure with 1:1 legs.
FAQ
What is a 4-leg ratio spread?
A call ratio spread above the strike and a put ratio spread below it, priced as one position. Each side buys 1 option and sells N options further out.
Where can I see live 4-leg ratio spread prices for Nifty?
On the Quintal Mind Sheets page, in the 4-LEG RATIO SPREAD section. Each table is one span and offset, with one row per strike.
Which ratios does the 4-leg sheet support?
1:2, 1:3 and 1:4, chosen with the buttons in the section header. The chosen ratio applies to every 4-leg table.
Quintal Mind shows market data and analytics for information only. Nothing here is investment advice, and Quintal Mind does not place orders.