SyntheticFuture

Calculate the synthetic futures price using ATM options (Put-Call Parity).

Endpoint URL

Local Host   :  POST http://127.0.0.1:5000/api/v1/syntheticfuture
Ngrok Domain :  POST https://<your-ngrok-domain>.ngrok-free.app/api/v1/syntheticfuture
Custom Domain:  POST https://<your-custom-domain>/api/v1/syntheticfuture

Sample API Request

{
  "apikey": "<your_app_apikey>",
  "underlying": "NIFTY",
  "exchange": "NSE_INDEX",
  "expiry_date": "25NOV25"
}

Sample cURL Request

curl -X POST http://127.0.0.1:5000/api/v1/syntheticfuture \
  -H 'Content-Type: application/json' \
  -d '{
  "apikey": "<your_app_apikey>",
  "underlying": "NIFTY",
  "exchange": "NSE_INDEX",
  "expiry_date": "25NOV25"
}'

Sample API Response

{
  "status": "success",
  "underlying": "NIFTY",
  "underlying_ltp": 25910.05,
  "expiry": "25NOV25",
  "atm_strike": 25900.0,
  "synthetic_future_price": 25980.05
}

Request Body

Parameter	Description	Mandatory/Optional	Default Value
apikey	Your Tradeboard API key	Mandatory	-
underlying	Underlying symbol (NIFTY, BANKNIFTY, SENSEX)	Mandatory	-
exchange	Underlying's exchange. Any value in the shared VALID_EXCHANGES list passes validation; the practical values are NSE_INDEX, NSE, BSE_INDEX, BSE	Mandatory	-
expiry_date	Expiry date in DDMMMYY format (e.g., 25NOV25)	Mandatory	-

These four fields are the complete SyntheticFutureSchema. Any other field returns HTTP 400. There is no strategy field on this endpoint.

Response Fields

Field	Type	Description
status	string	"success" or "error"
underlying	string	Underlying symbol
underlying_ltp	number	Current spot price
expiry	string	Expiry date
atm_strike	number	ATM strike used for calculation
synthetic_future_price	number	Calculated synthetic futures price

Formula

Synthetic Future Price = Strike Price + Call Premium - Put Premium

Where:

• Strike Price = ATM strike
• Call Premium = LTP of ATM Call
• Put Premium = LTP of ATM Put

Understanding Synthetic Futures

What is Basis?

Basis = Synthetic Future Price - Spot Price

Basis	Interpretation
Positive	Cost of carry (normal market)
Large positive	High demand for futures/options
Negative	Backwardation (rare)

Example Calculation

Spot Price (underlying_ltp): 25910.05
ATM Strike: 25900
ATM Call Premium: 500
ATM Put Premium: 420

Synthetic Future = 25900 + 500 - 420 = 25980
Basis = 25980 - 25910.05 = 69.95 points

Notes

• Synthetic futures provide a fair value reference for actual futures
• Useful for arbitrage detection between futures and options
• The basis indicates the cost of carry
• Near expiry, synthetic future converges to spot price

Use Cases

• Arbitrage strategies: Compare with actual futures price
• Fair value calculation: Determine if futures are overpriced/underpriced
• Options pricing: Use as underlying for options Greeks calculation

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