# Covered calls

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Coming after initial launch. Details will be updated when this feature ships.
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## How it works

1. Lock your BTC in a covered call position
2. Set a **strike price** - the price at which you're willing to sell
3. Collect a **premium upfront**, regardless of what happens at expiry

You retain a key on your BTC at all times throughout the duration of the position.

## Who it's for

* BTC holders seeking yield without selling their BTC
* Institutions and DATs managing BTC reserves
* Options desks looking for buy-side counterparties

## Key advantages

* **Native BTC yield** - no wrapping, no bridging
* **Non-custodial** - you keep a key on your BTC throughout
* **More accessible than TradFi** - lower minimums than traditional structured products

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**VERIFY** - Expiry mechanics (auto-exercise vs manual, scenarios at and above/below strike) to be confirmed with team before publishing.
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