Should Weth 1/29/2021 Options Be Deployed?

TL:DR: The active $700 Weth Call/Put series expires this Friday, January 8th. This proposal is for a new series of options to be deployed.

Price of Ether as of 1/6/2021 @ 23:31:00 UTC: $1,193.58

Assets: WETH / DAI

Strike Prices: Calls: $1,600, Puts: $800

Expiration Date: 01/29/2021 (Always Fridays 8:00:00 UTC)

Exercise Style: American options with manual exercising and physical settlement. American options can be exercised at any time until the expiration date. Physical settlement will deliver the underlying tokens. Options must be manually exercised which requires action on behalf of the trader before expiry.

Settlement Value: The underlying tokens.

Multiplier: There is a 1 multiplier for calls, and a 1/strikePrice multiplier for puts. For each 1 call, 1 underlying tokens can be purchased on exercise. For each 1 put, 1/strikePrice of underlying tokens can be sold on exercise. For each 1 put, 1 Dai is purchased on exercise for 1/strikePrice of underlying tokens.

Margin/Collateral: 100%. For each 1 call option, 1 underlying token must be provided as collateral. For each 1 put option, 1 Dai must be provided as collateral.

Fees: There is a ~0.30% fee for each Uniswap pair swap.

Deployment Date: During the weekend of Jan 8th, 2021.

Additional Notes:

This is a preliminary test for snapshot votes using LP tokens. In the future, once there is sufficient data to analyze, there should be a thorough analysis of the expected LP returns for these proposed markets.