
| Product | Bearish on BTC |
| Principal | 5 BTC |
| Term | 28 days |
| APR | 19.00% |
| Strike price | $26,000 |
| Knock-out price | $25,700 |
| Knock-in price | $31,200 |
The Knock-out price is observed every Friday, 16:00:00.
The Knock-in price is observed Observed daily, 16:00:00.

you will receive your earnings on the KO date
Earnings = Principal x (1 + APR x Term / 365)
Earnings = 5 x (1 + 0.19 x 21 / 365)
= 5.05 BTC

you will receive your earnings on the expiration date:
Earnings = Principal x (1 + APR x Term / 365)
Earnings = 5 x (1 + 0.19 x 28 / 365)
= 5.07 BTC

you will receive your principal on the expiration date:
Earnings = Principal
= 5 BTC

you will receive USDT on the expiration date:
Earnings = Principal x Strike price
Earnings = 5 x 26,000
= 130000 USDT