Pick a view on the market and the structures that express it. No perp needed.
You think ETH rises from here.
Pays off once ETH trades up through the strike. The unusual part is the carry: while spot is below the range this position owes nothing at all, so waiting is free.
Premium: You pay only once ETH reaches the strike. Nothing while it sits out of range — and nothing is owed for holding it, either.
Needs ~10% of notional as collateral.
The same first leg of a rally for less outlay, in exchange for capping the gain at the upper strike.
Premium: Both idle at spot. A rally lights the bought leg first, then the written one starts paying you.
Needs collateral on the bought leg, WETH backing on the written leg.
Collects the fee on every swap through today's price. If ETH falls through the range you end up holding it lower, which is the trade you wanted anyway.
Premium: Every swap through this range, for as long as spot stays inside it.
Needs USDC to post, since the range sits below its strike.
No legs yet. Pick a structure, or add one below.
