Ostrander Options
European options vaults with weekly expiries.
Covered-call and cash-secured-put vaults that sell weekly options through an auction. Settlement uses a time-weighted price at expiry.
- Ecosystem
- Optimism
- Category
- Options
- Languages
- Solidity
- Launched
- Nov 2025
Grade B · Elevated risk
Elevated risk; material weaknesses identified.
+0.3 since Nov 2025 · ±0.0 since Jul 2026
Quantix Protocol Research · as of 24 Oct 2026 · About this data
Risk Index
How the score is built
| Component | Weight | Value | Points | Gap |
|---|---|---|---|---|
| Code Security | 30% | 70 | 21.0 | −9.0 |
| Operational Security | 20% | 66 | 13.2 | −6.8 |
| Governance Risk | 15% | 68 | 10.2 | −4.8 |
| Economic Security | 15% | 64 | 9.6 | −5.4 |
| Infrastructure Resilience | 10% | 70 | 7.0 | −3.0 |
| Transparency | 10% | 72 | 7.2 | −2.8 |
| Quantix Risk Index | 100% | 68.2 | −31.8 |
| Component | Ostrander Options |
|---|---|
| Code | 70 |
| Operational | 66 |
| Governance | 68 |
| Economic | 64 |
| Infrastructure | 70 |
| Transparency | 72 |
Grade scale
- AAA90–100
- AA85–89.9
- A80–84.9
- BBB75–79.9
- BB70–74.9
- B65–69.9
- CCC60–64.9
- CC55–59.9
- C50–54.9
- D0–49.9
Score history
12 monthly snapshots
| Period | Quantix Risk Index |
|---|---|
| Nov ’25 | 67.9 |
| Dec ’25 | 67.9 |
| Jan ’26 | 67.9 |
| Feb ’26 | 67.9 |
| Mar ’26 | 68.2 |
| Apr ’26 | 68.2 |
| May ’26 | 68.2 |
| Jun ’26 | 68.2 |
| Jul ’26 | 68.2 |
| Aug ’26 | 68.2 |
| Sep ’26 | 68.2 |
| Oct ’26 | 68.2 |
3 Mar 2026
Economic
Auction reserve price
Minimum premium enforced in auctions.
- Economic Security+2
Risk factors
HighEconomic SecurityProfile analysis
Short settlement TWAP
A 5-minute window at expiry can be moved by a participant with modest capital.
MediumEconomic SecurityProfile analysis
Auction concentration
Few bidders reduce price discovery for sold options.
Recommendations
Economic Security: 64 → 74
Longer settlement TWAP
Use a 30-minute window and multiple sources at expiry.
+1.5
→ 69.7
Governance Risk: 68 → 74
On-chain strike rules
Constrain strike selection to published deltas.
+0.9
→ 69.1
Analysis
Contract, governance and operations
Contract analysis
- Source
- Verified
- Upgradeability
- Transparent proxy
- Administrative control
- Ostrander multisig (2-of-3), no delay
- Enforced delay
- None identified
- External dependencies
- Settlement TWAP source; Market-maker auction participants
- PassSource verified. Vaults and auction verified.
- CautionSettlement window. Expiry price uses a 5-minute TWAP.
- CautionStrike selection. Strikes chosen by a manager role off-chain.
Governance exposure
Moderate
A 2-of-3 multisig controls upgrades and the manager role without delay.
Operational resilience
Adequate
Weekly rolls depend on the manager and a small set of auction participants.
Monitoring
Monitoring history
- 12 Aug 2026MediumSettlement paused for expiry repricingConfiguration Change · SettlementResolved
Research assessment
No Quantix assessment of Ostrander Options has been published. Its security findings are represented by the contract-analysis signals above: 0 failed and 2 cautionary.
Research
Relevant research
Architecture
System components
- OptionVault
- Deposits and weekly rolls
- Auction
- Sells options to market makers
- Settlement
- Expiry pricing and payouts
Turn risk factors into a remediation plan.
A research assessment traces each weakness to code, configuration or process, and verifies the fix before the score moves.