> For the complete documentation index, see [llms.txt](https://docs.callput.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.callput.app/traders/fees-limits-and-faq.md).

# Fees, limits, and FAQ

This page consolidates the core cost model, timing limits, and the most common execution questions.

## Fee model

Users will typically encounter:

1. trading fee
2. settlement fee
3. execution fee

### Trading fee

The percentage fee applied to opening and closing positions.

### Settlement fee

The percentage fee applied when realizing expired positions through settlement.

### Execution fee

The native-token amount required when creating open or close requests.

## Verified percentage fee table

| Item            | Rate                                                        |
| --------------- | ----------------------------------------------------------- |
| Open buy naked  | `0.0006` = `0.06%`                                          |
| Open sell naked | `0.0003` = `0.03%`                                          |
| Open combo      | `0.0003` = `0.03%`                                          |
| Close naked     | `0.0003` = `0.03%`                                          |
| Close combo     | `0.0003` = `0.03%`                                          |
| Settle          | `0.0002` = `0.02%`                                          |
| Trade fee cap   | `0.125` = `12.5%` of option premium / total execution price |
| Settle fee cap  | `0.125` = `12.5%` of settlement amount                      |

For user-facing interpretation:

* open and close trading fees do not exceed `12.5%` of the option premium, expressed in the contracts as the total execution price
* settlement fees do not exceed `12.5%` of the settlement amount

## What to know about the execution fee

The execution fee is not a percentage. It is an exact native-token value required by `PositionManager` when a request is created.

The safe user assumption is:

* do not assume the execution fee is refunded if a request is cancelled

## Current protocol-level limits

### Maximum request validity window

The current `maxTimeDelay` is `180` seconds.

### Pre-expiry deadline buffer

The current `positionDeadlineBuffer` is `1800` seconds, or 30 minutes.

### Trading-hours restrictions

Close requests are subject to trading-hours checks.

### Settlement timing

Settlement is only available after expiry.

## Frequently asked questions

<details>

<summary>Why don’t I see a position even though the transaction succeeded?</summary>

Because the transaction may only have registered the request. The position is not final until the request reaches `Executed`.

</details>

<details>

<summary>Why is the execution price different from the displayed price?</summary>

Because Callput uses asynchronous execution and model-based pricing inputs.

</details>

<details>

<summary>Does `Cancelled` mean that the user manually cancelled the request?</summary>

Not in the documented public model. `Cancelled` is generally the execution outcome of the request.

</details>

<details>

<summary>If a request is cancelled, does the execution fee come back?</summary>

The safe assumption is no.

</details>

<details>

<summary>Can users open or close right before expiry?</summary>

No. The deadline buffer prevents new open and close requests from being created inside the final 30 minutes before expiry.

</details>

<details>

<summary>Why did the option token disappear from the wallet after I submitted a close request?</summary>

Because the token amount being closed can be transferred into `PositionManager` while the close request is pending.

</details>

<details>

<summary>Can users submit a close request after expiry?</summary>

No. After expiry, the correct path is settlement.

</details>