Weekly Put Option on YFI/DAI



Short description

Put Option Contract on YFI price with 80% margin requirement and maturity of 2 October 2020. Each contract gives the right to sell 0,01 YFI for 250 DAI at expiration.


Put Option, European style


YFI/DAI price


Opium multisig with price from Chainlink price feed


Contract size

0.01 YFI

Strike price, DAI




Buyer Margin*


Seller Margin**

200 DAI


2 October 2020 8:00 UTC

Long wins^

max(0, Oracle price - Strike price)

Short wins^

premium at settlement minus any win of long

^capped by initial margin

The derivative fee is 0,25% of the profit (only charges to profit makers) and received by derivative author

*Maximum risk of buyer; **Maximum risk of seller and maximum gain of buyer; option contract traded with open price with via order book

Long description

A Put Option Contract is a derivative product and is a right but not an obligation to sell a commodity, currency or other instrument at a predetermined price at a specified time in the future.

Opium.Exchange offers several of its trading products in the form of a Put Option Contract with crypto cash settlement.

Option contracts do not require traders to post 100% of collateral as margin, because of this you can trade with leverage of up to 100x on some Opium.Exchange contracts.

All margin on Opium.Exchange is denominated in stable coins or any ERC20 coins, allowing traders to speculate on the future value of its products only using stable cryptocurrency or other Ethereum based tokens.

"European style" means options cannot be exercised before expiration, but can only be exercised at expiration.

"Cash settled" means when a cash settled option is exercised the writer of the contract pays any profit due to the holder in stable coins (or any ERC20 coins specified in the contract) rather than any asset transfer taking place.