PsyOptions is a vanilla options protocol built to fill a gap in Solana’s DeFi ecosystem.
Conceived when a large traditional brokerage wouldn’t allow us retail traders API access to automate an options trading strategy, PsyOptions is a vanilla options protocol built to fill a gap in Solana’s DeFi ecosystem. With the speed of Solana and Serum’s flexibility to trade arbitrary SPL markets, all we needed was an options protocol to automate our strategy, yet none existed. Starting with American style options (European style coming soon after), users can write and sell covered calls or cash secured puts to generate yield or hedge. These option “contracts” are represented as SPL tokens, which allows them to trade on Serum’s order book.
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