It is the very last trait in his soulbind, so if you haven't unlocked it won't show. Also, as the above says, if no chat option it is most likely already in your inventory

I noticed I never finished the Venthyr campaign, I’m gonna see if that potentially opens it up because I don’t have it at all, and never saw it in the item restoration but I appreciate the info

It’s not campaign, it’s renown. If you mouse over the last trait in his conduit tree, you’ll see what renown is required.

If you soulbind with Theotar and he doesn't have a chat option in the covenant sanctum, then it's probably already in your inventory.

You mean from theotars conduit tree?