Option Contract

Item	Description
Products	Call Option (Call) Put Option (Put)
Payout Formula	Call Max ( Reference Price – Strike Price , 0 ) Put Max ( Strike Price – Reference Price , 0 )
Underlying	WETH/USDC
Settlement Style	Ithaca settlement
Exercise Style	European, auto-exercised
Premium Currency	USDC
Settlement Currency	Depending on user’s portfolio subject to collateral optimization settlement currency could be different
Strike Currency	USDC
Collateral Currency	Call WETH Put USDC
Collateral Amount	Call 1 Underlying unit Put amount equal to Strike Price
Collateral Management	Fully collateralized, pre-funded
Multiplier	1
Strike Price	Fixed standardised published levels
Reference Price	ITHACA Reference Fixing
Expiry Time	0800hrs UCT Friday
Expiry Dates	( Ithaca Expiry )