How to cancel or delete a deal.
All tools in our ecosystem support the deletion of a deal. You can delete call options, put options, and equity swaps you wrote under specific conditions.
Untaken Deal Deletion:
You can delete a hedge before it is taken or bought (i.e., when the taker is address(0)
).
Taken Deal Deletion:
You can delete a hedge after it has expired and if the taker has lost the rights to exercise it.
Equity Swaps:
Equity swaps cannot be deleted once taken; they can only be settled.
Untaken Hedge:
Deleting an untaken hedge does not incur a fee for the writer.
Expired and Unexercised Hedge:
Deleting a hedge that was taken but not exercised incurs a cancellation fee paid to the protocol.
The fee is charged in the underlying tokens to the writer.
The same fee calculation method used for settlement applies.
Owner Deletion:
The owner can delete an untaken hedge before it is taken (status = 1).
The owner can also delete the hedge after it expires and if it remains unexercised (status != 3).
Miner Deletion:
A miner can delete an expired and unexercised hedge (status = 2) and receives a fee for doing so.
The fee is split between the miner and the protocol.
Taker Deletion:
The taker is prohibited from deleting the hedge.
Upon deletion, the remaining balance after fees is restored to the hedge owner.