> For the complete documentation index, see [llms.txt](https://docs.auctus.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.auctus.org/faq/basics.md).

# Basics

### What are ACO tokens (Auctus Crypto options)?

ACO tokens are tokenized options that convey to its holders the right, but not the obligation, to buy or sell an underlying cryptoasset at a specified price (Strike Price) at any time before or at expiration.

### What is the difference between put and call?

With a call option, the buyer has the right to buy the underlying asset at a specified price at any time before or at expiration.

With a put option, the buyer has the right to sell the underlying asset at a specified price at any time before or at expiration.

### How to read an ACO token symbol?

The components of an ACO token symbol are: 

1. Symbol of the underlying asset
2. Strike price & Strike Asset
3. Option type, either P or C, for put or call
4. Expiration 

Example: `ACO ETH-200USDC-C-26JUN20-0800UTC`

| Component            | Value           | Location in symbol                    |
| -------------------- | --------------- | ------------------------------------- |
| Underlying asset     | ETH             | ACO **ETH**-200USDC-C-26JUN20-0800UTC |
| Strike Price & Asset | 200 USDC        | ACO ETH-**200USDC**-C-26JUN20-0800UTC |
| Option Type          | CALL            | ACO ETH-200USDC-**C**-26JUN20-0800UTC |
| Expiration           | 26JUN20-0800UTC | ACO ETH-200USDC-C-**26JUN20-0800UTC** |

{% hint style="info" %}
The above symbol represents a call option on ETH, expiring on 26 June 2020 08:00 UTC, with a strike price of 200 USDC.  

**One token "ACO ETH-200USDC-C-26JUN20-0800UTC"** gives the owner the **right to buy 1 ETH f**or **200 USDC** (that's the strike price), regardless of the market price of ETH, **until the expiration time.**
{% endhint %}


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs.auctus.org/faq/basics.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.