> 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/swap-options/advantage.md).

# Advantage

**Swap Options Characteristics**

1. No time zone restriction 
2. At-The-Money (ATM) strike easily allows user accessibility to focus on market direction
3. Physical delivery of underlying asset akin to a swap
4. Zero risk of liquidation from market volatility before the expiration while the position is opened