Exercise Option

$$\mathrm{Payoff}(S_T, K)= \begin{cases} \max(S_T-K,\,0), & \text{Call option},\\ \max(K-S_T,\,0), & \text{Put option}. \end{cases}$$

Where:

• S_T is the oracle price at the time of exercise
• K is the strike price

You can exercise your options anytime. The user has the freedom to either exercise their options or sell them back to the liquidity pool at the Black-Scholes price.

At expiry the options automatically get exercised for you and the payoff is deposited to your wallet address.