Glossary

Term	Description
Underlying asset	The object asset of the contract, the asset in which the buyer wants to buy rights on.
Strike price	The agreed price in which the buyer will be able to sell or buy the underlying asset to the seller at any moment until expiration.
Strike asset	The asset in which the strike price is fixed in and also the asset that will execute the physical settlement.
Expiration date	The date until which the contract is valid. Once reached, PodOptions are burned.
Put	A type of option that represents the right to sell the underlying asset at the strike price at any moment until the expiration.
Call	A type of option that represents the buyer's right to buy an asset at the strike price at any moment until the expiration.
Collateral asset	Collateral asset is the strike asset and has to be locked in the contract to mint PodOptions.
Premium	The option's price; the amount of DAI that the buyer has to pay for the seller in order to purchase an option.
Pod	Is our primitive. It is how one issue, hold and transfer an option contract in the market.
PodPut	The token that represents the buyer's right to sell the underlying asset at the strike price at any moment until expiration.
PodCall	The token that represents the buyer's right to buy the underlying asset at the strike price at any moment until expiration.