NFT Call Options

Call options for any ERC721 conforming asset.

NiftyOptions is an on-chain options protocol for NFTs, but it currently only support the creation of puts. While this minimizes downside risk for NFT holders, the needs of NFT speculators is left unmet. Thus, call options.

Selling covered call options for NFTs allows sellers to generate a premium and guarantee a fixed upside from the current price. For call purchasers, these options are a way to speculate on NFT price movement for a small premium.

Flow for an Option Seller

• Deploy an instance of the Option.sol contract, specifying parameters such as the quoteToken, strike, premium, and expiry.
• Deposit the NFT into the contract via deposit.
• At expiry, if the option has not been exericsed, the seller can call closeOption to receive their NFT.
• At any time, if the contract has not been purchased yet, the seller can call closeOption to close the contract and receive their NFT.

Flow for an Option Buyer

• Call purchaseCall: the buyer can either call approve on the quoteToken, or can provide an EIP-2612 Permit signature.
• To exercise an option, the buyer can call exerciseOption and pay the strike price to receive the NFT.

Build & Testing

This repo uses Foundry for both the build and testing flows. Run forge build to build the repo and forge test for tests.

Disclaimer

This was created mostly for fun, and should not be used in production. It's not gas optimized and only has very basic tests.