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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.
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.
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
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 for 200 USDC (that's the strike price), regardless of the market price of ETH, until the expiration time.