Options Price Reporting Authority (OPRA)

The Options Price Reporting Authority (OPRA) is a self-regulatory organization (SRO) that collects and disseminates information about the prices of options contracts. It was created in 1987 by the Securities and Exchange Commission (SEC) to help investors make informed decisions about options trading.

OPRA collects data on the prices of options contracts from a variety of sources, including exchanges, clearinghouses, and market makers. It then publishes this data in a variety of formats, including online, in print, and through its data feed.

The data that OPRA collects is used by a variety of market participants, including investors, traders, and analysts. Investors can use this data to make informed decisions about whether or not to buy or sell options contracts. Traders can use this data to identify potential trading opportunities. And analysts can use this data to develop investment strategies and make recommendations to their clients.

OPRA plays an important role in the options market by providing investors with the information they need to make informed decisions. This information helps to ensure that the options market is fair and transparent, and it helps to protect investors from fraud and abuse.

In addition to collecting and disseminating data, OPRA also enforces the rules of the options market. This includes investigating and prosecuting violations of the rules, and taking disciplinary action against those who violate the rules. OPRA's enforcement activities help to ensure that the options market is a safe and orderly place to trade.

OPRA is a valuable resource for investors, traders, and analysts. The data that it collects and disseminates is essential for making informed decisions about the options market. And its enforcement activities help to ensure that the options market is fair and transparent.