Position Lifecycle
The sequence from term selection to terminal payoff accounting.
#Lifecycle
- Validate Stock Token identity, multiplier, quantity, strike and expiry.
- Lock the quoted economics and account for the underlying exposure.
- Create or replicate the short-call obligation and record net premium.
- Maintain a deterministic active-position state through the term.
- Observe the terminal price under the disclosed rule.
- Apply the call payoff and release the resulting assets or value.
#State boundaries
Pending execution, active exposure, expired, settled and exceptional states must be distinct. A failed transition cannot leave an undisclosed short call, stranded collateral or duplicate claim.
- Use authoritative block and time references.
- Snapshot quantity, multiplier and price units together.
- Make settlement idempotent.
- Separate protocol finality from interface acknowledgement.