Callput Lite Trader Skill

Goal

Trade Callput spreads autonomously. MCP builds unsigned transactions; the agent signs and broadcasts using its own wallet.

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Preferred flow (fast path)

1. callput_portfolio_summary(address)       ← check positions + USDC balance
   [if request_keys lost]
   callput_list_positions_by_wallet(address) ← recover request_keys from on-chain events
2. callput_scan_spreads                     ← pick asset + bias, get ranked candidates + atm_iv
3. callput_execute_spread(from_address)     ← returns unsigned_tx + usdc_approval check
   [if usdc_approval.sufficient == false]
   → sign + broadcast approve_tx first
4. sign + broadcast unsigned_tx            ← agent signs with its own key
5. callput_get_request_key_from_tx(txHash) ← parse GenerateRequestKey from receipt
6. persist request_key                     ← REQUIRED for P&L tracking
7. callput_check_request_status            ← poll every 30s until executed/cancelled
   [after settlement]
   callput_get_settled_pnl                 ← realized payout history

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Hard rules

1. Spread-only. No single-leg execution ever.
2. Always check callput_portfolio_summary before opening a new position.
3. Use callput_scan_spreads as the primary market entry point.
4. Call spread ordering: long lower strike, short higher strike.
5. Put spread ordering: long higher strike, short lower strike.
6. MCP never holds or requires a private key — agent signs externally.
7. If usdc_approval.sufficient == false, send approve_tx before the main tx.
8. Save every request_key from get_request_key_from_tx — required for P&L.
9. If request_keys are lost, call callput_list_positions_by_wallet to recover them.
10. Check atm_iv from scan output: high IV (>80% ETH, >70% BTC) favors sell spreads.

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Bias → strategy mapping

Bias	Strategy	Option type	Direction	Rank metric
bullish	BuyCallSpread	Call	Pay premium	cost_pct_of_max ↓
bearish	BuyPutSpread	Put	Pay premium	cost_pct_of_max ↓
neutral-bearish	SellCallSpread	Call	Collect premium	credit_pct_of_max ↑
neutral-bullish	SellPutSpread	Put	Collect premium	credit_pct_of_max ↑

Sell spreads post strikeDiff × size USDC as collateral. Best used in high-IV environments.

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Strike selection (when using scan_spreads)

callput_scan_spreads handles this automatically:

• Long leg = ATM strike (nearest to spot price)
• Width variations: 1, 2, 3 strikes apart → narrow / medium / wide
• Ranked by cost_pct_of_max ascending (lower % = better value)
• Prefer rank 1 unless days_to_expiry < 1

Manual guidance (if using raw chains):

• ETH: target spread width of 100–200 USDC strike range
• BTC: target spread width of 1000–3000 USDC strike range
• Avoid spreads with cost_pct_of_max > 40% (overpaying for max payout)

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When to skip a trade

Skip and wait if any of these are true:

• usdc_balance (from portfolio_summary) < 2× estimated spread cost
• cost_pct_of_max > 40% (poor risk/reward)
• days_to_expiry < 0.25 (< 6 hours) — too close to expiry
• urgent_count > 0 — manage expiring positions first

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Position management

• Poll keeper: after every broadcast, poll check_request_status every 30s, max 3 minutes
• Pre-expiry: use callput_close_position when days_to_expiry < 1
• Post-expiry: use callput_settle_position for expired positions
• Profit taking: consider closing when close_pnl_est_pct > 50 (50% gain on tradeable close)

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P&L tracking pattern

# After broadcast + receipt:
const { request_key } = await callput_get_request_key_from_tx({ tx_hash })
agent_state.request_keys.push(request_key)

# To check P&L at any time:
callput_portfolio_summary({ address, request_keys: agent_state.request_keys })

Per-position P&L fields (returned when request_keys are passed)

Field	Description
entry_cost_usd	On-chain cost basis from openPositionRequests(key).amountIn
current_value_usd	Current mark-price spread value (mid fair value)
unrealized_pnl_usd	current_value_usd − entry_cost_usd (mark-based, not tradeable)
unrealized_pnl_pct	Unrealized P&L as % of entry cost
close_bid_value_usd	Bid-based close estimate: naked.bid − pair.ask (conservative)
close_pnl_est_usd	close_bid_value_usd − entry_cost_usd (realistic exit P&L)
close_pnl_est_pct	Close P&L as % of entry cost

Use close_pnl_est_usd for profit-taking decisions.

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Tool reference (10 tools)

Tool	Purpose
callput_scan_spreads	Primary market scan — ranked spread candidates + ATM IV
callput_execute_spread	Build unsigned open-position tx + USDC allowance check
callput_get_request_key_from_tx	Parse request_key from tx receipt after broadcast
callput_check_request_status	Poll keeper until executed/cancelled
callput_portfolio_summary	USDC balance + positions + P&L (pass request_keys)
callput_close_position	Build unsigned close-position tx
callput_settle_position	Build unsigned settle tx for expired positions
callput_list_positions_by_wallet	Recover request_keys from on-chain events (after session loss)
callput_get_settled_pnl	Realized payout history from SettlePosition events
callput_get_option_chains	Raw chain data + IV (use scan_spreads first)

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One-line command examples

• Scan ETH bearish and build the rank 1 spread tx.
• Check my portfolio summary and P&L for address 0x...
• Close all positions expiring within 24 hours.
• Settle all expired ETH/BTC positions.