What is the "Indicative Pricing Feed" for options?

What is the source of the “indicative pricing feed” for historical options data?
What are indicative derivatives and “trades that are derivatives?”

Sounds like the feed doesn’t come from the OPRA or a subset of quotes/trades. Is it something like quote approximations generated using a black-scholes variant and volatility estimation?

@letsgetsticky Indicative Pricing Feed is a derivative of the original OPRA feed: the quotes are not actual OPRA quotes, they’re just ''indicative" derivatives. The trades are also derivatives and they’re delayed by 15 minutes.

The use case for indicative pricing is to debug ones code and not generally to be used for live trading or to test the efficacy of ones strategy. This is provided free as an alternative to paid OPRA data to reduce the cost burden during algo design.

Gotcha, so is it dummy data returned in the same fields and format as the OPRA data would be?

@letsgetsticky The ‘indicative’ data isn’t exactly ‘dummy’ or random values. They are calculated and rather ‘close’ or ‘indicative’ of the actual OPRA data.