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stonkhouse
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How it works

A small cost. A known maximum loss.

Choose a call, see its total cost and maximum loss, and receive a payout after settlement when it finishes in the money. Stock owners can set asks and write covered calls.

Stonkhouse lists options on Robinhood Chain Stock Tokens. The launch set is 2 markets, NVDA and SPCX; the registry holds 35 rows in all, and availability and quotes are shown in the app. Stock Tokens are debt securities, not shares.

Buy a contract (opens in a new tab)Explore writing (opens in a new tab)

For buyers

Buy a call in three steps.

  1. 01

    Pick a contract

    Browse a stock, strike and expiry. Each card states a price scenario, the fee-net payout and the most you can lose.

  2. 02

    Pay the option cost

    Pay the ask premium plus a capped taker fee in USDG. That is your maximum loss on the option; network gas is extra. Most options expire worthless.

  3. 03

    Wait for settlement

    After the oracle finalises the price, anyone can settle the series and then redeem holders. A cranker can automate this.

Expiry and payout

The market close sets the result.

Daily and weekly contracts expire at 16:00 New York time on a market session day. A 30-minute window supplies the averaged settlement price. Most markets in the approved 20-market launch use one source and a one-hour candidate wait.

Price is finalised

For a single-source market, the oracle records a candidate and waits one hour before finalisation; the guardian can hold it. A dual-source market can finalise when both sources agree. If one is missing or they disagree, that market's configured candidate delay applies.

Redemption is open

After the oracle finalises a price, anyone can settle the series and then redeem; a caller must submit the transactions and pay gas. A cranker may automate this, but it has no exclusive privilege. A failed transfer becomes a balance in the holder's ledger.

Calls and puts differ

Most markets in the approved launch have no qualified USDG conversion route, so an in-the-money call pays Stock Tokens in kind. A routed market attempts bounded USDG conversion and falls back to Stock Tokens if it fails. Puts pay USDG natively when available.

Fees

The full stack, before you trade.

These are pre-broadcast settings for the replacement contracts, not a live quote. The app's current quote and series-pinned terms govern an actual order after those contracts are active.

Writer collateral charge
0 at launch

The replacement contracts keep a bounded per-market rate for new series, but it launches at 0 ppm. A change needs 72 hours' on-chain notice.

First-sale premium fee
5%

Taken from the writer's premium when a newly written option sells. A true resale of an existing long is 0%.

Taker fee
0.10 USDG cap

The lesser of 0.1 USDG or 10% of the filled premium, once per take; an account-specific discount may reduce it.

Exercise fee
0.25%

Based on collateral and taken in kind from an in-the-money payout, never more than 10% of that payout. The rate is set when a series is created.

General fee changes have 48 hours' notice; exercise and collateral-rate changes have 72 hours' notice. Each take includes a maximum total fee, so a transaction reverts instead of accepting a higher taker-side total.

For stock owners

Own the stock? Write the call.

Writers can set their own ask, use a preset, or configure an auto-roll strategy. The amount offered is the amount at risk of assignment.

  1. 01

    Offer covered calls

    Deposit Stock Tokens or USDG collateral into the v2 Clearinghouse and choose a strike, expiry, size and ask. A preset can fill in the starting terms.

  2. 02

    Get paid on a fill

    A premium is paid only if a buyer takes your order. The replacement design takes a 5% fee from that first-sale premium; a true resale is 0%, and an unfilled ask earns no premium.

  3. 03

    Manage the next expiry

    If a call finishes in the money, upside above the strike belongs to its buyer. Auto-roll can prepare the next order, but you keep control of strategy settings and collateral.

Assignment can take the collateral at the strike. Settlement returns the writer's remaining collateral in kind: for calls, a net share amount rather than an all-or-nothing share sale. Unfilled orders can be cancelled.

Payment asset

USDG on Robinhood Chain.

Robinhood Chain 4663. Replacement option-contract addresses will be published after deployment and verification.

Read the risks before opening a position.

A call can expire worthless. Thin books, oracle delays and issuer restrictions can affect an outcome.

See the risksLegal details