ExerciseOption
Exercise an in-the-money option position to realize profit.
European options can only be exercised at expiry. American options can be exercised anytime before expiry.
POST
ExerciseOption🔐 AuthExercises the specified option position. For cash-settled options, the intrinsic value is credited to your account. For physically-settled options, the underlying asset is delivered.
Request
| Parameter | Type | Description |
|---|---|---|
contract_idrequired | uint32 | Option contract ID |
quantityrequired | int64 | Number of contracts to exercise (8 decimals) |
Response
| Field | Type | Description |
|---|---|---|
success | bool | Whether exercise was successful |
payout | int64 | Amount received (8 decimals) |
settlement_type | OptionSettlement | CASH (0) or PHYSICAL (1) |
underlying_received | int64 | Underlying amount (physical settlement only) |
error | string | Error message if failed |
Settlement Types
| Type | Description | You Receive |
|---|---|---|
| Cash | Intrinsic value paid in USDC | |Spot - Strike| × Contracts |
| Physical | Underlying asset delivered | Actual BTC/ETH/etc. |