Contract Specifications

Contract Type	Call and Put Options
Style	European
Method of Exercise	Cash Settlement in USDC
Settlement Asset	USD Coin (USDC)
Trading Hours	24/7
Expiration Date & Time	D0/D+1*, or Friday at 8am UTC
Settlement Period**	8am – 8pm UTC
Multiplier	1 (1 contract = 1 underlying asset)
Minimum Order Value	0.000001 contract
Contract Expirations**	D0/D+1, W+1, W+2, M+1, M+2, M+3, Q1, and Q+2

*Settlement Period

Before settling expired options, Siren Protocol waits for 12 hours in case of an oracle price dispute.

**Expiration Dates

• D0/D1: current day or next day (if current time is > 8 a.m. UTC)

• W+1: the nearest Friday from the current or next day

• W+2: next Friday from the current or next day

• M+1: last Friday in +1 month from the current or next day

• M+2: last Friday in +2 months from the current or next day

• M+3: last Friday in +3 months from the current or next day

• Q+1: last Friday in +1 quarter from the current or next day

• Q+2: last Friday in +2 quarter from the current or next day