Covered does not mean risk-free.

You may lose the entire premium if you do not exercise before expiry. The displayed break-even excludes network fees, account-creation costs, trading spreads and the cost of selling the underlying token.

Intrinsic value is a calculation, not an executable bid. A theoretical gain does not guarantee the token can be sold at the displayed price.

You retain the downside of the deposited stock while committing to sell it at the strike if exercised. Above the strike, your upside is capped by that sale price plus the premium received.

Once a buyer holds the call, you cannot withdraw its collateral or change its terms. Cancellation is only available while the call has not been bought.

There is no automatic exercise. Your transaction must succeed before the expiry recorded on-chain. Wallet approval alone is not confirmation.

Congestion, insufficient SOL, token transfer restrictions or an unavailable wallet can prevent settlement. Leave time rather than relying on the final moment.

Tokenized stocks may not grant voting rights, dividends or direct ownership rights equivalent to the underlying listed share. Issuer terms, eligibility, redemption conditions and corporate actions matter.

Issuer controls, freezes and transfer restrictions can affect even a fully collateralized call. Investigate the specific mint and issuer before trading.

Transactions require your wallet signature. Verify the action, amount, mint and destination before approval. Never provide a recovery phrase to ONE or to anyone offering support.

The program has not been represented as independently audited. Deployment and verification must be completed before any real-money use.

Solana network fees are paid in SOL. Creating token accounts may require additional SOL. Do not confuse a quoted premium with the complete transaction cost.

Transferring a held call changes its holder. It does not automatically charge a buyer or protect an off-platform resale agreement.