Trading
Learn how to trade tokenized equity and crypto options on CallPut, including 24/7 trading behavior, order execution, expiry, and settlement mechanics.
Option Position Types
CallPut focuses on advanced option strategies, primarily call spreads and put spreads.
A spread position combines two option legs into a single position, allowing traders to:
Express directional views on price movements
Achieve higher effective leverage compared to vanilla options
Cap maximum profit for option buyers and maximum loss for option sellers
Reduce upfront premium costs relative to single-leg options
This structure provides clearer risk profiles and more predictable outcomes, especially for directional trading.
Option Underlying Assets
Options on CallPut reference synthetic prices of underlying assets derived from reliable external price data providers.
Supported categories include:
BTC and ETH, with plans to expand to additional altcoins
U.S. equities (synthetic pricing)
The protocol does not rely on custody, transfer, or delivery of physical assets.
Option Expiry Structures
CallPut currently supports multiple expiration profiles, including:
1-day options
2-day options
Weekly options
Monthly options
Additional expiry structures may be introduced over time to support a wider range of trading strategies.
Position
Each option position on CallPut is represented by a tokenized contract (ERC-1155).
Opening & Closing Positions
Open: Call/put option buy or sell position tokens(ERC-1155) are minted, and the option premium is exchanged with the OLP.
Close: Held position tokens are returned (burned), and the option premium is exchanged with the OLP at the current execution price.
Token-based execution enables continuous liquidity for both opening and closing positions.
Settlement
Settlement occurs at expiry based on a predefined reference price:
In-the-money positions are settled manually
Out-of-the-money positions expire without value
All settlement logic is enforced onchain, without broker intervention.
Fees
Contract Size
Lot size: 1
Example: trading 1 BTC options contract represents an option on 1 BTC.
Trading Fee
0.03% of notional volume
Example: trading 1 BTC option contract when BTC is priced at $100,000 results in a $30 trading fee.
Fee cap: 25% of option premium
If the option premium is $100, the trading fee will not exceed $25.
Settlement Fee
0.03% of notional volume, applied at settlement.
Execution Fee
A small amount of ETH is required to execute smart contract transactions onchain.
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