Prism Options.
+ Trade
The options workspace

Discover the market.
Define your exposure.

Calls, puts and the research behind your next position. Prism brings contract discovery, volatility insights and wallet-signed trading into one options platform.

Explore options
Research workspace

Context for your next position.

Explore volatility, compare funding and test risk scenarios. These research tools inform your decisions; they do not change orders, reserve funds or charge position fees.

01

Volatility Lens

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30-day implied volatility from an external options index. Compare volatility expectations before selecting a strike.

BTC · Index points
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Open expected-move tool ↗Reference index only. Not a Prism Options tradable volatility contract.
02

Carry Compass

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Predicted funding on two external perpetual markets, normalized to eight hours. Context for an options hedge.

BTC · bps / 8h · A − B
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Compare hedge carry ↗Predictions can change. No Robinhood-native rate is used. Bars show magnitude; numbers preserve the sign.
03

Return Envelope

Interactive model

Model a capped-profit position and its reserve requirement. This hypothetical cap does not limit your existing options.

Maximum modeled profit
$800.00
Margin + maximum profit
$900.00

Model reserve covers the profit cap.

No capital is reserved by this calculator. Gross return assumes the margin is returned.
04

Price Buffer

Interactive model

Stress-test a price filter. Moves within 20% pass through; larger moves take a 5% step, capped at 20% per update.

+4.50%First filtered update · $104.50
Solid: filtered · Dashed: incoming12 modeled updates
Illustrative filter, not the oracle used by current positions. Filtering delays real price changes and does not guarantee protection.
05

Crowd Meter

Interactive model

Explore a quadratic fee: the crowded side’s rate rises with the square of the larger-to-smaller position ratio.

Imbalance multiplier
16.00×
Modeled paying side
Long
Modeled daily cost
$16.00
At 50/50 neither side pays. Otherwise only the crowded side pays in this model. This tool charges no fees.
How these tools relate to your options

Volatility Lens uses an external 30-day implied-volatility index, not a newly issued Prism Options index. Carry Compass compares external funding estimates, not a native-chain basis product. The three models do not change contract payoffs, oracle prices, liquidation rules or execution fees. Their charts are calculated from your inputs. No orders or wallet signatures are requested.

The Prism options desk

Your market view.
Your options.

Prism brings options discovery, volatility research and wallet-signed trading into one workspace. Explore an underlying, compare calls and puts, and choose the contract that fits your time horizon.

01 / Explore markets02 / Compare contracts03 / Review & sign
BTC / USDLoading price…
01Explore an underlying
02Choose your contract

A call gives upside exposure to the underlying. Compare strikes and pricing before choosing a position.

03Set your time horizon

Explore your contracts

BTC · Calls · No expiry
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Robinhood no-expiry · Chain 957 dated

Explore the options market.

Compare underlying assets, contract types and expiries. Open a market to inspect pricing, collateral and execution details.

Calls & putsDated and no-expiry markets
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