Buying option contracts are the most common way of interacting with the Optyn protocol. For end-users, purchasing option contracts is straight forward. You can buy an option by selecting:
The market you want to trade
The direction you believe it will go
The size of the option you want exposure to
The strike price you want to be able to exercise at
The period of holding before the option expires
With this information the protocol will calculate a premium that needs to be approved before purchasing. Once purchased, an option will appear in the "Your Contracts" section under active options.
Active options are those that haven't been exercised yet and also haven't passed their expiry date. You can exercise an active option when it is at or passed the strike price. If the Exercise button isn't available it is because the oracle price hasn't passed the strike price.
The Optyn protocol uses the American style of options that can be exercised at any time.
Click the "Exercise" button to exercise the option. It will pay out the amount of the underlying that is owed to you.
It is important to note that options must be exercised manually before they expire. Even if it is in the money, once an option passes it's expiry date it will expire worthless if it isn't exercised.