---
title: "Key Concepts"
description: "Learn how to request and handle index options in the research environment in QuantConnect"
canonical: https://www.quantconnect.com/docs/v2/research-environment/datasets/index-options/key-concepts
markdown: https://www.quantconnect.com/docs/v2/research-environment/datasets/index-options/key-concepts.md
language: python
source: https://github.com/QuantConnect/Documentation/tree/master/04%20Research%20Environment/03%20Datasets/22%20Index%20Options/01%20Key%20Concepts
modified: 2026-10-29
index: https://www.quantconnect.com/llms.txt
---

# Key Concepts

[Documentation](https://www.quantconnect.com/docs/v2.md) > [Research Environment](https://www.quantconnect.com/docs/v2/research-environment.md) > Datasets > Index Options > Key Concepts

> Code examples are shown in Python. Append `?lang=csharp` to this URL for the C# version of this page.

## Introduction

Index Options are a financial derivative that gives the holder the right (but not the obligation) to buy or sell the value of an underlying Index, such as the S&P 500 index, at the stated exercise price. No actual assets are bought or sold. This page explains the basics of Index Option data in the Research Environment. To get some data, see [Universes](https://www.quantconnect.com/docs/v2/research-environment/datasets/index-options/universes.md) or [Individual Contracts](https://www.quantconnect.com/docs/v2/research-environment/datasets/index-options/individual-contracts.md). For more information about the specific datasets we use, see the [US Index Options](https://www.quantconnect.com/datasets/algoseek-us-index-options) and [US Index Option Universe](https://www.quantconnect.com/datasets/quantconnect-us-index-option-universe) dataset listings.

## Resolutions

The following table shows the available resolutions and data formats for Index Option contract subscriptions:

| Resolution | TradeBar | QuoteBar | Trade Tick | Quote Tick |
| --- | --- | --- | --- | --- |
| `TICK` | Not supported | Not supported | Not supported | Not supported |
| `SECOND` | Supported in live trading only⚠︎ | Supported in live trading only⚠︎ | Not supported | Not supported |
| `MINUTE` | Supported✓ | Supported✓ | Not supported | Not supported |
| `HOUR` | Supported✓ | Supported✓ | Not supported | Not supported |
| `DAILY` | Supported✓ | Supported✓ | Not supported | Not supported |

⚠︎ Supported in live trading only.

## Markets

The only market available for Index Options is `Market.USA`.

## Data Normalization

The data normalization mode doesn't affect data from history request. If you change the data normalization mode, it won't change the outcome.