TAPER
Launch app

TAPER

Options that
end today.

 

Same-day stock options on Solana. Holders of NVDAx, AAPLx and TSLAx earn the premium every trading day. Traders bet on the 4 pm price with five dollars.

One candle per session, 9:30 am to 4 pm. Every call on it ends with the flame.

Clay model of the vault: a tray holding twelve share tablets, with eight call tags hanging from its rail, each tag tied by a thread to one tablet.

Covered,always.

One call, one share.

Holders put their shares in the vault. The vault sells calls on them for today only, and it can never sell more calls than it holds shares. In this model that leaves 4 calls for sale.

Every trading day runs the same three moves, and nothing is left open overnight.

  1. Hold

    1.0 Before the open

    Deposit NVDAx, AAPLx or TSLAx. Your shares sit in the vault, which sells today's calls on them and pays you the premium.

    Hold in the app

  2. Buy a call

    2.0 From the open to ten minutes before the bell

    Pick one of the day's five strikes and pay the premium in USDC, plus a 10% fee. If the stock ends above your strike at 4 pm, you are paid the difference in shares.

    Trade in the app

  3. The 4 pm price

    3.0 At the bell

    The program takes the pool's mean price over the 15 minutes before the bell, read from Raydium, pays every call whose strike is under it in shares, and hands the premium to holders. If no one settles within the hour, every buyer is refunded in full.

    See today's strikes

Taper

One call on NVDAx, minute by minute.

    9:30 am4 pm

    Five dollars on the close.

    Reading the NVDAx price from its Raydium pool.

    You pay at the open

    $5.00

    You get at 4 pm, if it ends at ...

    $0.00

    Under the strike, the calls end at zero

    Across the table, the holders who sold these calls keep the $0.00 premium either way. If NVDAx ends above the strike, they hand over the difference in shares.

    Every session gets a candle

      Weekends and NYSE holidays get no candle and no options. On early-close days the bell rings at 1 pm and every call ends then. The program works this calendar out from the date alone; the list here is the one Pyth publishes with its NVDA price.

      The smoke

      Buyers pay a 10% fee on top of the premium. All of it buys TAPER on the open market and burns it, through a crank anyone can call, at most 1,000 USDC at a time and only at 98% or better of the pool's 30-minute average price. There is no treasury.

      TAPER burned forever
      0
      Fees spent buying TAPER
      $0
      Of the supply removed
      0%
      Nothing burned yet. The first fee lights it.