Products

Olive offers two products. Both are bought, both settle at maturity, and both have a maximum loss equal to the total USDC you pay at entry.

There is no selling, no writing, no spreads, and no multi-leg structures. If you are looking for covered calls, put spreads, or principal-floor notes, they are not part of the current product set.

Long Call

Buy upside above a strike.

• You pay USDC premium plus the Olive fee. That total is your maximum loss.
• Payout is delivered in the market's registered Solana call token — the tokenized form of the underlying, such as a wrapped BTC or a gold token — not in USDC.
• The maximum payout is the position size in that token.
• At maturity the payout is the token-denominated intrinsic value: your size, less the strike's worth of tokens at the settlement price. It is zero if the market settles at or below your strike, and it can never exceed your size.
• Strikes can be set from at-the-money up to 50% above spot.

Long Put

Buy downside below a strike, all the way to zero.

• You pay USDC premium plus the Olive fee. That total is your maximum loss.
• Payout is delivered in canonical USDC. Nothing is exercised, approved, or delivered by you.
• The maximum payout is the strike notional — your size valued at the strike — which is what you receive if the market settles at zero.
• At maturity the payout rises as the settlement price falls below your strike and is capped at that maximum.
• Strikes can be set from at-the-money down to 50% below spot.

Markets and expiries

The app shows only markets whose on-chain configuration is active in the connected deployment, and only the products that market has enabled. A market with calls disabled on-chain will not offer them however the UI is configured.

That list is not a UI preference: the program itself only accepts four Pyth price feeds — BTC/USD, SOL/USD, PAXG/USD for Gold, and SPYX/USD for the S&P 500 — and refuses to create a market or record a settlement against any other feed.

Each market registers its own call mint on-chain — the exact token a Long Call pays out in. The app shows that token's symbol on the ticket and on the position, so you always know what you will receive before you sign.

Tenors offered are 14, 30, and 60 days. Olive resolves your choice to the nearest live on-chain expiry, so the actual maturity is the closest configured one rather than an exact day count.

Each market carries on-chain caps: a maximum call size, a maximum put payout, and total outstanding exposure limits. A ticket that exceeds them is rejected before it ever reaches a maker, with the applicable limit shown.

Cost and fees

Your Amount is the all-in ceiling. What you actually pay is:

total cost = maker premium + Olive fee
Olive fee  = floor(premium × feeBps / 10 000)

The fee rate is set on-chain, can differ between calls and puts, and is capped by the program at 200 bps (2%). The program rejects any fill where premium + fee exceeds the Amount you authorized, and it rejects a quote whose fee rate does not match the finalized protocol configuration.

There is a 5 USDC minimum premium, enforced on-chain. A ticket too small to clear it is repriced up to the minimum rather than filled below it.

Settlement asset summary

Next: Account & fees ->