Position Accounting
Invariants for Stock Token quantity, premium, multiplier, state and user entitlement.
#Minimum position state
- Robinhood Chain chain ID, canonical Stock Token contract and asset uid.
- Raw token quantity, multiplier context and share-equivalent notional.
- Strike, expiry and call notional in explicit units.
- Gross premium, deductions and net premium.
- Lifecycle state and authoritative transition timestamps.
- Settlement observation and remaining entitlement.
#Accounting invariants
Covered notional ≤ accounted share-equivalent exposureRedeemed amount + remaining entitlement = finalized entitlement- A position cannot be active and settled simultaneously.
- A multiplier adjustment must preserve strike and notional economics.
- Fee deductions must reconcile gross and net premium exactly.
- Rounding direction must be explicit and bounded.
#Precision and rounding
Token decimals, feed decimals and 18-decimal multipliers interact. Use bounded inputs and full-precision arithmetic; record dust treatment rather than allowing rounding to create unsecured claims.