# LCO {% embed url="" %} Long CALL OPerps a.k.a. LCO tokens represent buying of CALL options and make money in rising markets. LCO holders pay fix premium in a [settlement cycle](/operps/settlement.md) in return for gaining leveraged exposure to rise in the underlying price. In following example, LCO holders make 50% profit for just 1% rise in underlying price. Higher the [leverage](/operps/leverage.md), more is the profit for same premium paid. > Token holdings are automatically rolled over to the next cycle unless sold | Variable Name | Value | | ------------------------------ | ------------------------------------ | | Long CALL OPerps Token Supply | 100 | | Short CALL OPerps Token Supply | 10000 | | Leverage | 100 | | Premium (per cycle) | 50%\* | | Cycle Duration | 5 minutes\* | | Underlying Price Change | 1% | 50 (50% of LCO supply i.e. 100) Tokens are transferred from LCO to SCO pool as Premium.\ 100 (1% of SCO supply 1.e. 10,000) Tokens are transferred from SCO to LCO pool for 1% market rise.

Because of high leverage, LCO holders can make huge profits even with small market moves, despite paying the premium.

{% hint style="info" %} Premium and cycle duration values used in this example are meant for our Arbitrum products. On Binance chain, these values are different. {% endhint %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://ethosx.gitbook.io/operps/types-of-operps/lco.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.