Read the terms
An option's stored terms define its exchange. Token symbols, market prices, or a familiar display name cannot replace those terms.
Check these fields
| Field | What it tells you |
|---|---|
| Network and collection address | Which exact contract and environment you are using |
| Collateral token address | The token the issuer deposited |
| Collateral amount | The fixed raw amount due on successful exercise |
| Payment token address | The different token the holder must pay |
| Payment amount | The fixed raw amount sent to the issuer on exercise |
| Expiry | The deadline, recorded as a Unix timestamp |
| Issuer | The immutable payment and permitted refund recipient |
| Current NFT holder | Who owns the exercise right |
| Escrow and lifecycle status | Where collateral is held and whether the right remains usable |
Understand raw units
A token with six decimals displays 1 token for 1,000,000 raw units. Verify decimals for the exact token address and network. A reference-price display or stock-token multiplier does not modify the stored amounts.
Understand the deadline
Exercise requires the transaction's block timestamp to be strictly earlier than expiry. A transaction broadcast before the deadline may be included after it. At expiry or later, the issuer's reclaim path applies.
Understand approvals and versions
Token approvals authorize spending by the exact approved contract. Review the selected collection version and the permissions you grant. Registry registration is not a security audit, and an administrator can select unsafe code for future issuance.
Each collection's settlement rules are fixed. Selecting a different version does not upgrade existing options.
Source: options-v1 specification. Continue with risks and limitations.