> For the complete documentation index, see [llms.txt](https://docs.jaspervault.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jaspervault.io/product/degen-options/for-traders/faq.md).

# FAQ

#### **Expiration and Settlement**

All Degen Option positions utilize European settlement and will auto-settle exactly 8 hours after the position has been opened. All call positions pay out in spot (ETH or BTC) while put positions pay out in Tether (USDT). After auto-settlement, all profits can be seen in the Asset Tab under Vault.

#### **What is your max loss?**

Since options give you the right, but not the obligation to buy or sell, the most you will ever lose is the option potocol that you initially paid.

#### **What is your max upside?**

If the position expires In-the-money(ITM), your max upside is unlimited less the options potocol.

#### **Are gas fees on Degen Options subsidized?**

Yes! In order to open a position on Degen Options, users have to sign a total of 4 transactions. After the initial transaction to approve the spending amount, the remaining 3 transactions are subsidized by JasperVault!


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