Option pricing
Supply your own lookback pricing function. Use the sample market-data adapter or your own sources. No single valuation model is required.
For market makers
Your model.
Your market.
Quote lookback options with your own pricing policy, data and hedging process. Let buyers compare compatible offers in one place.
One intent. Several independent quotes.
A direct line
to the buyer.
The proposed frontend reads active makers from the registry and requests compatible quotes in parallel.
01 · Buyer
Sets the terms
Asset, direction, activation, cap or floor, size, expiry and tokens.
Your serviceAnother makerAnother maker
03 · Comparison
Lowest compatible premium
Valid responses in the same token and for the exact same terms. No liquidity reserved.
Proposed routing. The current preview uses reference pricing services, not a live multi-maker registry.
Bring your own view
Price the risk
your way.
The reference separates product validation, option pricing, capital costs and the signed quote. Replace the pieces that define your edge.
Capital costs
Report opportunity cost, collateral yield credit and your capital margin separately. Set your own rates and supported collateral.
Quote validation
Check accepted strikes, size, expiry, capacity and data freshness. Reject unsupported terms before constructing an order.
Hedging is your process.
Quote discovery does not execute a hedge. Run risk monitoring and hedge execution independently of the pricing API.
A public directory with a bond
Be discoverable.
Stay accountable.
One registry per chain. The maker account publishes its quote endpoint, order account and metadata, with a protocol-defined bond.
- 1Active
Register and bond
The owner registers the order account and HTTPS endpoint, then deposits the configured bond token. Registration proves neither solvency nor pricing quality.
- 2Discoverable
Quote from your service
Respond to discovery and indicative requests. The maker account funds executable orders; its own key or a supported authorized operator signs them. Keep inventory, approvals and source data current.
- 3Exiting
Request an exit
New quote discovery stops immediately. Cancel existing orders on OptionBook; leaving the registry does not cancel them. The bond remains slashable during the exit period.
- 4Exited
Withdraw the remaining bond
After the exit delay, withdraw any unslashed balance. Existing option obligations remain; withdrawing a bond does not close open positions.
Admin-slashable, by design
The designated admin can slash an active or exiting bond until withdrawal. A slash records an amount and evidence hash. The grounds, authority and treatment of slashed funds require approval.
A bond is not user insurance
It is separate from option collateral. It does not reserve quote capacity, guarantee a fill, or automatically compensate a buyer.
Parameters still to approve
Bond token and minimum amount; exit delay and its relationship to maximum quote validity; admin and slashing policy; treatment of slashed funds; endpoint and metadata limits. The draft interface makes no numeric or economic commitment.
Proposed · vault participation
One intent.
Competing signed offers.
A vault can publish the trade it wants. Registered maker services price the same terms and sign offers. Anyone can submit them; the vault checks its limits and fills a compatible offer through OptionBook.
Vault
Defines the intent
Exact product, size, tokens, expiry and a maximum premium or minimum sale price.
Worker-signed offerWorker-signed offerWorker-signed offer
Vault + OptionBook
Validate and execute
The vault chooses among submitted compatible offers. OptionBook verifies and fills the signed order.
Design proposal. The registry supplies maker discovery and bonds; it does not perform vault accounting or reserve quote inventory.
What replacing the auction requires
Existing vaults use RFQ Factory state for deposits, share minting, cancellations and position tracking. OptionBook also reads Factory fee and oracle configuration. A worker-based route needs an explicit vault integration; a registry address cannot simply replace those responsibilities.
A wheel-like strategy can alternate cash → Bottom Buy → ETH → Peak Sell → cash. Each purchase pays a premium and starts a fresh observation window. The strategy can lose money.
A compact service contract
Discover. Price. Sign.
| Route | Your response | Readiness |
|---|---|---|
GET /discover/lookback | Markets, expiry-specific activation choices, bounds, tokens and units. | Reference preview |
POST /indicative | Validated estimate, cost breakdown, data freshness and expiry. | Reference preview |
POST /request | Authoritative prepared price and next batch timing. | Future app flow |
GET /batches/{batchAt} | Signed offers during their valid window. | Future app flow |
Allow the frontend’s origin through CORS. Return bounded JSON and explicit stale, paused, invalid-term and capacity errors. Keep your signing key exclusively on your service.
Read the integration guide ↗