> For the complete documentation index, see [llms.txt](https://ethosx.gitbook.io/operps/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ethosx.gitbook.io/operps/types-of-operps/sco.md).

# SCO

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Short CALL OPerps a.k.a. SCO tokens represent selling of CALL options and are profitable in neutral or falling markets. SCO holders receive premium from LCO holders in every [settlement cycle](/operps/settlement.md) in return for enabling leveraged exposure to price rise for LCO holders. In following example, <mark style="color:yellow;">SCO holders make 0.5% profit in just 5 minutes\*</mark>.

> 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        | <mark style="color:red;">-ve</mark> |

50  (50% of LCO supply i.e. 100) Tokens are transferred from LCO to SCO pool as Premium.\
No Tokens are transferred from SCO to LCO pool because market didn't rise duting the cycle.

<figure><img src="/files/2DxyfMnARdBlMZTr6FXd" alt=""><figcaption><p>SCO holders gain 0.5% in just 5 minutes*</p></figcaption></figure>

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Premium and cycle duration values used in this example are meant for our Arbitrum products. On Binance chain, these values are different.
{% endhint %}