American physically-settled fully-collateralized options protocol. contract enforced via a two-token mechanism, one token representing the long option counter party (option token), one token representing rights of the short option counter party (writer token). No oracle is required since the program needs no knowledge of a "fair price" for settlement. Instead, it is expected that the option buyer will be aware that exercising the option (call or put) is profitable and will do so by calling the exercise instruction. In contrast to Inertia, Soloptions converts underlying to quote asset on exercise. For example, if a volt sold Soloptions SOL/USDC covered calls and the option buyer proceeded to exercise, the volt would be stuck with USDC, and thus unable to continue selling SOL covered calls.