Deposit tokenised stocks into a vault. Each week it sells covered calls against them on Overcall and credits what buyers actually pay, less fees, in USDG for you to claim. The first vault holds NVDA.
Premium is paid only if a buyer fills. Assignment can take the collateral at the strike. Stock Tokens are debt securities, not Nvidia shares. Not deployed and not audited yet.
Example week from the fork rehearsal
Not live data. The rehearsal ran with a 50 NVDA cap (launch is 20), the fill count is illustrative, and the times are Overcall's current window.
How it works
Timing comes from Overcall's registry, not a calendar you have to watch. The keeper does the routine work; the contracts make sure nobody needs the keeper to get the week closed.
until the book closes
NVDA Stock Tokens in, cNVDA shares out, priced at the NVDA behind each share.
when Overcall opens the week
Up to 95% of idle NVDA becomes whole calls, one per token, 3% to 12% above spot at launch. No strike in that band, no write.
until Fri 20:00 UTC
USDG lands in the same transaction: 95% to the vault, 5% to Overcall. Or nobody buys.
from Sat 20:00 UTC
Unassigned NVDA comes back, assigned NVDA as strike USDG. The keeper closes at expiry; an hour later, anyone can.
whenever you like
Premium net of fees, and any strike proceeds, wait in your balance. No deadline.
Why Stonkhouse
Selling calls yourself means picking strikes, posting orders and watching expiries. Stonkhouse does that on a published policy with its limits compiled into the contracts, and publishes every result, including the weeks that pay nothing.
Premium arrives as USDG, tracked per share and never folded into your shares. No protocol token, no points, no airdrop at launch.
The keeper writes, lists and closes each week inside the vault's policy. You deposit once and check in when you like.
Stonkhouse takes 5% of the premium the vault receives, capped at 20% in the contracts. Nothing on deposits, idle NVDA or strike proceeds.
Once the vault is live, each closed week is published in the app with its real figures: filled, unfilled or assigned, zeros included. No projections.
Withdraw instantly while the vault is idle, or queue during a week and settle at the close. Closing the week does not depend on the keeper.
The 1% strike floor, the 20% fee ceiling and the one-token lot size are compiled in. The keeper and guardian cannot move a token.
USDG, split pro rata across all cNVDA shares. Strike proceeds from an assignment would be added in full, with no fee. Figures from the fork rehearsal, not a live week or a forecast.
Three endings
Knowing all three before you deposit is the whole point. Which one you get is decided by the order book and by what holders of the week's calls do, not by the vault or a price feed. Pick one to see what happens to premium and to the NVDA behind it.
The listing sat on the book and no buyer filled it, so there is no premium and no fee. The NVDA comes back at the close, except anything Valorem assigned: the vault writes the same series as other writers, and if their buyers exercise, part of that exercise can land on the vault.
Before you deposit
Plainly, before anything else. The full list, with what the contracts do about each one, is on the risks page.
Premium is paid only if a buyer fills. On a thin book an unfilled week is the most likely outcome, and no dealer is obliged to buy.
If NVDA runs past the strike, collateral leaves at the strike for USDG, even in a week the vault sold nothing. v1 does not buy it back.
While a call is open, a withdrawal is queued, cannot be cancelled, and settles at the close, partly in USDG if the week was assigned.
A deposit while a call is open is priced at face value and shares that week's result, including any assignment.
They are debt securities of Robinhood Assets (Jersey) Limited, with no vote or claim on Nvidia, and you carry the issuer's credit risk. The issuer can freeze transfers, which can hold up the close.
The vault has had only an internal review, by the people who wrote it. There is no proxy, so a fix means a new vault. The 20 NVDA launch cap is sized to that.
The admin can change the strike band and the fee inside the compiled caps, and the deposit cap with no ceiling, at any time and with no timelock. At launch the admin is a single key.
Overcall runs the cycle and the book, Valorem settles assignment and USDG pays out; the vault cannot override any of them. An oracle pause stops writes and listings, never settlement.
The risks page also covers partial assignment, keeper failure, USDG, the Valorem fee switch and an outage near the Friday book close.
Read every riskRead the risks first. Once the vault is live, connect a wallet in the app on Robinhood Chain and deposit NVDA, the first vault, up to the cap. This site never asks for a wallet.