Close a position

You can close your position at any time to realise gains or losses. The following are the steps required to close a position:

Step 1. To close a position, you first need to open a position similar to the previous page.

Step 2. Connect your Metamask wallet and go to 'My Options':

Step 3. Your open positions will be show in 'Active Options':

Step 4. Press 'Close' to close an open position, and receive the amount described in 'Current Value'. The following will appear in Metamask:

This shows the maximum gas fees to close a position is 0.032789. The amount '0' indicates no money is sent from your wallet to the Blockchain, because you are actually received money into your wallet. The amount you will receive (before gas fees) is 0.006928 ETH, for a gross profit (before gas fees) of - 0.0001 ETH.

Step 5. Click confirm if you wish to proceed.

Step 6. Charm will show the transaction is 'pending':

Step 7. When your transaction have been executed on the Blockchain, you will received the following confirmation from Metamask:

Step 8. Click on the above to view and check your transaction on Etherscan:

From the above, you can check the following details of your transaction:

  • The amount you receive from closing your position should match the current value in step 3.

  • The details for options you sold, and the units sold, should match the details in step 3.

  • The final gas fees should be lower than the Metamask estimate in step 4.

Congratulations! You have now closed your position.

You can do the above at any time to realise the profits or loss shows in the 'PnL' section in step 3. There is no need to wait until settlement to realise any gains.

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