Options on AAPL, HOOD and TSLA, paid in ETH.
Real Cboe quotes. Buy a call, a put or a spread at the ask, sign the contract in your wallet, pay in ETH on Robinhood Chain. Sell it back at the bid any market hour, or hold it to the close.
Cboe quotes, 15 min delayed · every contract 14+ days out and $2.25+ a share, ×100
Four dots to a trade.
No account, no sign-up, no deposit sitting anywhere. Your wallet signs, your wallet pays, your wallet gets paid.
Pick from the real chain
The terminal shows Cboe's live chains for AAPL, HOOD and TSLA, 15 minutes delayed. Click an ask for a call or a put, or build a vertical, a fly or a box.
Sign the contract
The house quotes you a firm price for 60 seconds. Your wallet shows every term in plain words: the legs, the premium, the expiry, how it settles. Signing is free.
Pay in ETH
Send the premium in ETH on Robinhood Chain to the house wallet. The payment carries your ticket number, the house checks it on-chain, and the position is yours.
Sell back, or hold
Sell to the house at the bid any market hour, or hold to expiry and it settles at the official close. Either way the house pays you in ETH within 24 hours.
A trade is a shape on the book.
An options chain is a grid of dots: strikes across, a call row and a put row. Single contracts are one dot; the ticket builds these three in one click. Every one is bought, never sold short: the most you can lose is what you pay.
Two dots: the spread
Buy one strike, sell another. It pays somewhere between nothing and the gap between the strikes.
Costs less than the call or put alone. The most you can make is the gap between the strikes, less what you paid.
Three dots: the butterfly
Buy the wings, sell two of the body. It can't pay less than zero, and pays most if the stock settles in the middle.
Cheap for what it can pay: a bet that the stock ends near one price.
Four dots: the box
A call spread and a put spread on the same two strikes. It pays exactly the gap between them at expiry. Always.
Known payout, known cost. At the real ask and bid it usually costs a bit more than it pays, and the house never sells one for less.
No lottery tickets.
Short-dated, cheap options are where people lose money fastest. Two lines keep them off: nothing under two weeks, nothing under $2.25 a share.
Apple, Robinhood and Tesla. Options on each, nothing else.
Weeklies, monthlies and the long-dated ones, straight off the listed chain. Nothing short-dated can be opened.
A contract can only be bought while its mid is $2.25 a share or more, and it has a real bid and ask. No penny wings.
European: no early assignment. At expiry it's worth exactly its intrinsic value at the close, paid in ETH.
Buying and selling back open 15 minutes after the bell, once the delayed quotes are from today's session.
Big enough to matter, small enough that the house can always pay.
You trade with the house.
These aren't exchange-listed options. Each one is a contract with the house wallet, priced off the real listed ones: it writes what you buy, takes your premium, and pays what you're owed.
- Tickets sold
- ···
- Premium taken
- ···
- Paid out
- ···
- Owed right now
- ···
What the house does
- Prices at the real Cboe ask to buy and the real bid to sell back. No markup.
- Never sells a shape for less than it's guaranteed to pay: that would be free money out of the wallet that pays you.
- Sends every payout, refund and settlement in ETH within 24 hours, from this one wallet.
- Puts every ticket and every payout on the public ledger. The chain has the rest.
The honest part: there's no escrow. When you win, you're trusting the house wallet to pay. Every promise above is checkable on-chain, which is why they're all in public.
The small print, in big type.
Are these real options?
They're priced off real ones. Every bid and ask comes from the options listed on US exchanges, via Cboe. What you buy is a contract with the house wallet on those terms: it isn't listed on an exchange, isn't cleared by the OCC, and can't be moved to a broker. It settles in ETH.
Where do the prices come from?
Cboe's public options data, 15 minutes delayed. You buy at the ask and sell back at the bid, exactly as quoted, with no markup. Before you sign, the house re-reads the chain and gives you a firm price for 60 seconds.
How do I get paid?
When you sell back, or when your position finishes in the money, the house owes you its value in ETH at the ETH price of that moment. It's sent from 0xAc3C00e3… to the wallet that bought, within 24 hours. You can watch it under Payouts in the terminal.
What if the house doesn't pay?
Then you'd be relying on its word: there's no escrow contract holding the money. What there is: a contract you both signed, a payment the chain recorded, and a public ledger of every ticket and every payout. Size your trades with that in mind.
Can I sell options, or go short?
No. Dotions only sells positions whose worst case is what you pay: calls, puts, and debit verticals, flies and boxes. You never owe anything after you've paid, so there's no margin and nothing to liquidate.
Why 14+ days and $2.25+ a share?
Short-dated, cheap options are where people lose money fastest. Every contract is at least two weeks out and at least $2.25 a share: $225 or more a contract at ×100.
Why only during market hours?
Because the quotes are 15 minutes delayed, and outside the session they're frozen while the news isn't. Buying and selling back run 9:45 a.m. to 4:00 p.m. ET on trading days (1:00 p.m. on early closes). You can browse and build tickets any time.
What do I need?
An Ethereum wallet (MetaMask, Rabby, Coinbase Wallet…) with ETH on Robinhood Chain. Gas is about 2¢. There's no account and no sign-up.
What's $DOTIONS?
The coin isn't launched yet. When it is, it'll trade on Pons on Robinhood Chain, and 2% of every trade is meant to go to the house wallet that backs the options. It will pay its holders nothing.
Who's Pip?
Dotions's mascot: a plush grape dot with a trader's visor, drawn in code. A pip is a dot on a die, and the smallest move a price can make.
Pick a dot.
Three stocks, every real expiry past two weeks, every real bid and ask. Connect a wallet and the first ticket takes a minute.