> For the complete documentation index, see [llms.txt](https://optifi.gitbook.io/optifi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://optifi.gitbook.io/optifi/optifi-in-depth/options-contract-specifications.md).

# Options Contract Specifications

<table><thead><tr><th width="245.57142857142856">Schema</th><th>Specification</th></tr></thead><tbody><tr><td><strong>Contract Type</strong></td><td>Call &#x26; Put</td></tr><tr><td><strong>Style</strong></td><td>European</td></tr><tr><td><strong>Underlying</strong></td><td>BTC &#x26; ETH &#x26; SOL</td></tr><tr><td><strong>Oracle Feed</strong></td><td><p>Pyth’s BTC/USD &#x26; ETH/USD &#x26; SOL/USD <a href="https://pyth.network/price-feeds/">Feed</a></p><p>Switchboard’s BTC IV &#x26; ETH IV &#x26; SOL IV <a href="https://switchboard.xyz/explorer">Feed</a></p></td></tr><tr><td><strong>Contract Size</strong></td><td>1 BTC &#x26; 1 ETH &#x26; 1 SOL</td></tr><tr><td><strong>Tick Size</strong></td><td><p>$0.0001 for BTC</p><p>$0.00001 for ETH &#x26; SOL</p></td></tr><tr><td><strong>Min Order Size</strong></td><td>0.01 BTC &#x26; 0.1 ETH &#x26; 0.1 SOL</td></tr><tr><td><strong>Settlement Currency</strong></td><td>opUSDC which is 1:1 pegged to USDC</td></tr><tr><td><strong>Maturity</strong></td><td>1 Weekly Expiry at Friday 8:00 AM UTC</td></tr><tr><td><strong>Strike</strong></td><td>5 Strikes based on the underlying spot price, implied volatility, and time to maturity</td></tr><tr><td><strong>Payoff</strong></td><td><p>Call: MAX [ SPOT – STRIKE , 0 ] * NET POSITION</p><p>Put: MAX [ STRIKE – SPOT , 0 ] * NET POSITION</p></td></tr><tr><td><strong>Trading Fee</strong></td><td><p>Taker: min (0.15% of underlying, 10% of trade price) </p><p>Maker: min (0.05% of underlying, 10% of trade price)</p></td></tr><tr><td><strong>Settlement Price</strong></td><td>Oracle price at time of settlement (last print, not Time-Weighted Average Price)</td></tr><tr><td><strong>Liquidation Reward</strong></td><td>2% of liquidated asset value</td></tr></tbody></table>