# Options made easy

PERPS+ are one-click trade enhancers that attach options strategies to your perpetual futures positions. Instead of manually navigating options markets, selecting strikes, and managing separate legs, PERPS+ lets you protect, monetize, or bound your perp trade with a single action.

Every PERPS+ enhancer works by automatically buying or selling options under the hood, matched to your position's size, direction, and your chosen risk parameters. *You don't need to know anything about options to use them.*

## The Three Enhancers

PERPS+ launches with three enhancer types, each designed around a different trading intent:

| Enhancer             | What It Does                                                           | Cost                            | Best For                                                                |
| -------------------- | ---------------------------------------------------------------------- | ------------------------------- | ----------------------------------------------------------------------- |
| **Limit My Loss**    | Caps your maximum loss at a level you choose                           | One-time premium (paid upfront) | Traders who want downside protection without giving up profit potential |
| **Get Paid to Hold** | Pays you a premium upfront in exchange for capping your maximum profit | You *receive* premium           | Traders willing to trade some upside for guaranteed income              |
| **Lock My Range**    | Caps both your maximum loss and maximum profit                         | \~$0 (premiums roughly offset)  | Traders who want a fully defined risk/reward before entering            |

Each enhancer works on both long and short perp positions. The underlying options mechanics are mirrored accordingly (details in the next section).

## Key Rules

* **One active enhancer per asset.** You can only have one PERPS+ enhancer attached to a given perp position at a time. To attach a different one, close the existing PERPS+ option position first.
* **Duration selection.** Every enhancer lets you choose an expiry window — 1 week, 2 weeks, 1 month, or 2 months. Longer durations generally cost more (for Limit My Loss) or pay more (for Get Paid to Hold).
* **Range limits by duration.** The percentage you can set on the slider depends on the chosen duration. Shorter expiries have tighter ranges to ensure the underlying options trade into liquid strikes:

  | Duration | Range |
  | -------- | ----- |
  | 1 Week   | 5–8%  |
  | 2 Weeks  | 5–10% |
  | 1 Month  | 5–15% |
  | 2 Months | 5–20% |
* **Auto-matched to your position.** PERPS+ automatically sizes the options leg(s) to match your perp's notional value and direction. No manual configuration needed beyond choosing the enhancer type and your risk parameter.