Contract specifications - Joyride Docs

Joyride lists European calls and puts that settle in USDC. One contract represents one unit of the underlying. You receive or pay the option’s intrinsic value at expiry rather than delivery of the asset.

Contract terms

Term	Specification
Instruments	European calls and puts
Underlying	BTC
Strike and settlement currency	USDC
Contract size	1 unit of the underlying
Expiry	Daily at 08:00 UTC
Settlement price	Oracle’s rolling 30-minute TWAP recorded when expiry is processed
Call payout per contract	`max(settlement price − strike, 0)`
Put payout per contract	`max(strike − settlement price, 0)`
Package size	1 to 13 legs on one underlying and one expiry

Read the available contracts from the app’s options chain or public/get_instruments. Listings change at each daily rollover; integrations should discover live symbols before requesting quotes. Trading hours explains rollover. Settlement covers timing, fees, records, and delayed processing.

Instrument names

{ASSET}_USDC-{DMMMYY}-{STRIKE}-{C|P}

For example, BTC_USDC-16OCT26-100000-C is a BTC call with a 100,000 USDC strike that expires on 16 October 2026 at 08:00 UTC.

Part	Example	Meaning
Underlying and currency	`BTC_USDC`	BTC, quoted and settled in USDC
Expiry	`16OCT26`	Day, month, and year; days have no leading zero
Strike	`100000`	Strike price in USDC
Option type	`C` or `P`	Call or put

The symbol above illustrates the format. Use a live listing in trading requests.

Prices and quantities in the API

RFQ prices are totals for the whole package. Money and quantities use decimal strings with at most six fractional digits. For example, "1.000000" means one contract. Use decimal arithmetic when constructing requests and signatures. Quoting RFQs defines package signs and prices. Fees explains charges on each leg.