Exploring the Archives: Is There a Database of Historical Options Data?

Hello r/quant

I've been delving deeper into the world of financial options recently and found myself pondering a question that I'm sure others have asked before: Is there a comprehensive database for historical options data?

In an ideal world, I'm picturing a one-stop-shop type of database that includes not just the basics like strike prices, expiry dates, and volume, but also a wealth of other valuable data points such as implied volatility, greeks, open interest, and more. It would be an immensely useful resource for backtesting strategies, understanding historical market behaviors, and informing future trading decisions.

While I understand that real-time data providers like Bloomberg or Reuters have quite robust offerings in this area, I also know that their services come with a rather hefty price tag. So I'm specifically interested in more accessible resources, whether they're free or reasonably priced.

A few quick Google searches have led me to a handful of databases like HistoricalOptionData.com and ORATS, but I would love to hear from this community. What are your experiences with these services, or are there others that you would recommend? Are there any limitations or challenges that we should be aware of when working with historical options data?

And lastly, for those of you who have experience working with this kind of data, what kind of insights were you able to draw from it? Any tips or advice for a newcomer to the field?

Looking forward to an informative discussion and your collective wisdom. Happy trading!

Best, Rainer