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How it works

Deposit

Receive vault shares.

Holdings change as prices move.

Your result depends on price changes and fees.

See the steps

Choose an asset. Pick its vault.
Choose a strike. This is the price the strategy is built around.
Review your deposit. Check the amounts before you confirm.

Buy an option

Choose an option.
Review the total price.

No vault deposit needed

See the steps

Choose an option. Compare calls and puts at your strike and expiry.
Enter an amount. See the quote for that option quantity.
Review the total price. Confirm only when you are ready.

List shares

Set your IV.
Wait for a buyer to fill.

Requires vault shares

See the steps

Use your vault shares. Choose how many to list.
Set your IV. IV is a pricing input, not a return rate.
List your offer. An option is created only when a buyer fills it.

Your position

No position yet

Deposit to start accumulating

Withdraw from Vault

Withdraw your proportional share of vault assets.

Your Shares 0.0000

Estimated Value 0.000 SPY + $0.00

Target asset

Fees Earned $0.00

Receive As

Withdraw Amount

0% 100% 100%

Shares to Burn 0.0000

Gross Withdraw --

Withdrawal Fee --

Swap --

You Receive

Choose your level.

Deposit at your chosen strike.

Strikes follow after seeding.

KyberSwap swaps part of your deposit into the other token.

SPY Amount

Balance: —

Also write options against this LP (earn premium)

Commit a fraction of your minted LP shares to an IV bucket in Markets. Buyers fill from lowest IV first (FIFO). When filled, you receive premium in USDG; if exercised at expiry, your LP position converts at the strike.

IV Level

Expiry Type

Write Fraction 100% of minted LP

Minimum: loading…

Connect a wallet to see your balances.

Checking vault…

Stock Token access

Not available to US persons.

Robinhood can pause, blocklist or burn tokens. A paused stock also freezes the USDG side of its vault.

Per-epoch record begins after the first roll

Vault stats

This strike

Strike Price

—

Current: Loading...

Distance to strike: --

At roll: --

Epoch Progress

--d --h --m

0% until Friday 08:00 UTC

—

Vault TVL

—

Your share:

Est. APY: --%

All strikes

Vault IV —

Open to load IV history.

LP Positions

-- -- -- --

USDG SPY

Strike Deployed —

Fee History

This Epoch —

All Time —

Est. APY --%

Volume Facilitated — ≈ est. from LP fees

Epoch SPY Fees USDG Fees

No fee events yet

Current Vault Epoch Results

Results compared with a limit order at this strike.

No epoch results yet

Past Epoch Results

Past results for the same asset and strike.

Open to read earlier epochs.

New here?

Deposit

Buy an option

List shares

Your position

Withdraw from Vault

Choose your level.

Deposit to Vault

This strike

All strikes

Buy options

Options Chain

No options to buy right now

How many do you want to buy?

My Options

Claims