Trading FAQs

Why Does the Vault Say "Reduce Only Mode" and Doesn't Let Me Trade?

SDX Vaults have a minimum bid that is set to prevent vaults picking up unnecessary gamma risk. This minimum bid is currently set at 0.002 of underlying.

Why can't I trade close to option expiration?

To prevent economic attacks and the LPs taking too much risk when greeks are subject to large changes. option markets are halted 4 hours prior to expiration.

Why am I charged ~0.045 SOL when depositing for the first time?

This fee is collected by Solana as storage rent to fund trading account creation on the blockchain. The amount is refundable on trading account closure.

How much underlying does each option contract represent?

Each option contract on SDX represents 1 underlying, i.e. 1 SOL Call Option would entitle you to the payoff of 1 SOL Underlying at time of expiry based on the difference between spot and strike price. Contracts are traded in minimum quantity of 0.01 for SOL/MSOL and 0.001 for ETH/BTC.

What can’t I pay in USDC for Call Options?

Call and Call Spread options are priced and paid for in the underlying asset (e.g. MSOL), whereas Put and Put Spread options are priced and paid for in USDC. You will need to have the right token deposited into your trading account to fund option purchases and sales.

I would like to trade an option with a specific strike and expiry, but I don’t see the market being listed.

Please reach out to the SDX team on Telegram for new option strike / expiry listing. We will accommodate such requests if they are viable.

I would like to trade an option, but app is showing that the open interest capped has been reached.

Please reach out to the SDX team on Telegram for open interest cap changes. We will accommodate such requests if they are viable.

How do I access option greeks?

Click on the Greeks section below the option amount input box.

How do I check the historical price of an option?

The option mark price chart can be accessed via this panel on the right side of the TradingView chart.