Risk & disclosures

Olive positions are financial instruments with real downside. Read this before allocating. None of this is investment advice.

Product mechanics

You can lose everything you pay. Max loss is bounded at the premium plus the Olive fee — but a bought option that finishes out of the money pays zero, and that is the ordinary outcome, not the exceptional one.
Positions are European. The payoff depends on the settlement price at maturity only. A position that was deep in the money mid-life and finishes out of the money pays nothing.
Time works against you. Both products are bought, so decay reduces the value of an open position every day the market does not move your way.
A put here does not protect a position elsewhere. Olive settles at maturity, so it cannot prevent a leveraged position on another venue from being liquidated before then.
Call payouts are tokens, not dollars. A Long Call pays the market's underlying token. What that is worth in USDC when you convert it depends on the market and liquidity at that moment, and in-app conversion is not available yet.

Early exit is not guaranteed. It depends on the original maker choosing to quote a buyback. If it does not bid, you hold to maturity.
Quotes are firm only briefly. A firm quote binds only inside its validity window, which the program enforces on-chain.
Model marks are not firm bids. Portfolio marks help you monitor; the executable exit value comes only from a maker quote.

Credit-backed exposure is maker performance risk. Between entry and the funding deadline, part of your maximum payout may be backed by custodied collateral under a tri-party control agreement rather than by tokens already in the on-chain bucket. If the maker misses its deadline, the bucket defaults and nothing in it can settle until it is cured. See Collateral & funding.
Credit limits are a governance decision. The on-chain limit is set by Olive's admin authority on the strength of an off-chain custody agreement. The program does not read or prove a custody balance.
Buckets are shared. Your collateral sits in a bucket with the same maker's other positions for that market and maturity, isolated from other buckets but not from those.

Oracle risk. Settlement uses Pyth Benchmarks through the Pyth receiver program. Availability, confidence, and finality risks apply; a governed fallback exists as a liveness backstop after a configured delay.
Program risk. Olive's Solana program, the SPL token programs, approved token extensions, account derivations, and upgrade governance may fail or contain defects.
Operational risk. Keeper, indexer, sponsor, and RPC failures can delay quoting, settlement recording, or redemption.

Closed beta on devnet. Tokens are devnet tokens with no value, markets and limits are deliberately small, and functionality can change without notice.
Account model. Accounts are provisioned through Privy and Olive sponsors network fees. Olive cannot move your positions without your signature, but loss of access to your login and export path can mean loss of access to the wallet. See Account & fees.

Not investment advice. Positions settle at maturity; early exit depends on a maker quoting. Never allocate more than you can afford to lose.