> ## Documentation Index
> Fetch the complete documentation index at: https://docs.updown.fast/llms.txt
> Use this file to discover all available pages before exploring further.

# Positions & settlement

> Selling an option back, the 15-minute cutoff, settlement timing, refunds, and history labels.

## Positions on the stock page

The **Positions** table under the order panel lists your open contracts on that stock, headed "Positions · N on SPY" with the total P\&L.

| Column       | What it shows                                     |
| ------------ | ------------------------------------------------- |
| **Contract** | "↑ \$770 Call · Sep 24" for a call, "↓" for a put |
| **Qty**      | Contracts held                                    |
| **Paid**     | What you paid                                     |
| **Now**      | The current **bid** × contracts                   |
| **P\&L**     | The difference, for example "+\$0.27"             |

When you hold nothing on the stock, it reads "Nothing open on SPY." A footer links your positions on other stocks ("2 more open on AAPL, NVDA") and toggles **History**.

## Selling back

Tap \*\*Sell $1.50** on a row. There is no confirmation step. The sale fills at the current bid, and "Sold for $1.50 — paid to your wallet." confirms it.

* The **Sell** button shows only for positions on the **expiry currently selected** in the dropdown. Positions on the other expiry show "—" until you switch.
* In the **last 15 minutes** before an expiry, positions on that expiry can no longer be sold. They ride to settlement. The app says "Expired — it settles at the close price." or "Not quoting right now — it will settle at the close."
* You cannot sell from the Portfolio page. Its **Trade** button opens the stock page.

## Positions on Portfolio

Under **Your positions → Open**, after any interval rows, each option shows:

* The title, for example "SPY above $770" or "SPY below $762".
* "▲ Call · Option · closes in 3h 05m". This becomes "paying out" while a sale or payout is in flight, and "settling" after the close.
* "1.00 contracts · $1.23 → $1.50" (paid → now), the value, and the P\&L with a percentage, or "in progress" / "not quoted now".
* A **Trade** button.

## Settlement

Settlement is automatic. At the expiry:

1. The settlement price is the average on-chain token price over the 5 minutes before the close. See [How options work](/options/how-options-work#settlement).
2. In-the-money contracts are paid to your wallet in USDG by a job that runs every 5 minutes. Out-of-the-money contracts are marked settled with no payout.
3. If no final price exists within 6 hours, the premium is **refunded** and the position shows as **void**.

There are no notifications for expiry, settlement, or refunds. Check **Portfolio** or the stock page.

## History

The stock page's **History** and the Portfolio activity table (filter **Options**) list every event:

| Label      | Detail                                          |
| ---------- | ----------------------------------------------- |
| **Buy**    | "1.00 contracts @ \$1.23"                       |
| **Sell**   | Sold back before expiry, with proceeds and P\&L |
| **Won**    | "… · settled in the money"                      |
| **Lost**   | "… · expired worthless"                         |
| **Refund** | "… · no settlement price, premium refunded"     |