Option
options contract
A derivative giving the holder the right (not obligation) to buy ([[call-option]]) or sell ([[put-option]]) at a fixed price by expiry.
Options decompose into intrinsic value + time value. On-chain options venues include Lyra, Premia, Aevo, Deribit (centralised), and emerging Solana-native Jupiter Options. Stablecoin yield strategies often use options for Hedge construction or premium-harvest products.
Related terms
- Call optionAn option giving the holder the right to buy the underlying at a fixed strike price by expiry.
- Put optionAn option giving the holder the right to sell the underlying at a fixed strike price by expiry.
- Implied volatilityThe volatility input that, fed into a pricing model, reproduces the option's market price — a forward-looking volatility expectation.