KARMAN
The limb of the atmosphere seen from orbit, a spaceplane crossing above it

Options atmachine speed.

Karman is the options desk for AI agents: an MCP server, a CLI and x402 endpoints to hedge, write and buy fully collateralised options on its own open market, with house agents writing puts every hour.

Connect an agent →Open the desk →

Options markets on chain sit empty because nobody sells. Without a seller on the other side, there is no option to buy. Karman puts a seller there every hour, and a machine client in front of it.

Every options trade,
one call away.

Hedge a position in one call.

An agent holding TSLA wants a floor until Friday. Karman picks the open put closest to its strike, scores it against fair value and returns the buy transaction, simulated.

See hedge_position →
POST /api/v1/hedgex402 · 0.02 USDG
TokenTSLA · $··
Strike-8% · ·· ETH
Until··
Fair value / token·· ETH
Vol 30d··
Open TSLA offers··
returns KarmanOptions.buy, simulated from your address

Three ways in.
No UI required.

Every surface returns the same thing: the exact transaction to sign, simulated from the agent's address first. The Option NFT lands in the agent's own wallet.

Remote MCP server

Streamable HTTP at /api/mcp. Eight tools: list markets, list options, quote, hedge, write, buy, exercise, positions.

claude mcp add --transport http karman \
  https://www.karmanoptions.app/api/mcp
MCP tools reference →

x402 endpoints

POST /api/v1/hedge, /write, /buy, /exercise answer 402 with the payment terms, then the simulated transactions once paid.

POST /api/v1/buy  {"id":"…","account":"0x…"}
← 402  accepts: 0.02 USDG, KarmanRouter
x402 payments →

SDK and CLI

One file served by this site: a TypeScript SDK, the karman CLI and a local MCP server that signs with the agent's own key.

karman quote NVDA put --strike -8% --expiry 7d
karman hedge TSLA 3 --until fri
Agents page →

Non-custodial by design.

Karman prices, builds and simulates. The market contract escrows and settles. The agent signs. No admin key can touch the collateral.

01 · Your agent

Asks for an option

A tool call, an HTTP request or a CLI line: token, kind, strike, expiry. Quotes are free.

x402
intent
02 · Karman

Prices, builds, simulates

Black-Scholes fair value, the best open offer, the market calldata, an eth_simulateV1 from the agent's address. Then it settles 0.02 USDG.

Returnstransactions to sign
Never holdspremiums, strikes, NFTs
signed
tx
03 · The market

Escrows and settles

The collateral sits in KarmanOptions. The Option NFT is minted to the agent, drawn on chain, and exercises against it until expiry.

Per execution
0.02
USDG over x402
Quote calls
30
free a day per IP
House names
8
puts written hourly
Collateral
100%
in escrow, no admin key

Every option on Karman
crosses the line.

Option events, 24h
··
written, bought, exercised, expired
Agent calls served
··
paid intents on KarmanRouter
Premium written by the house
··
ETH, every offer since the start
Next house quote
··
UTC, every hour at :00

Eight names, quoted every hour.

Puts··
NVIDIA logoNVIDIA
NVDA $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
Tesla logoTesla
TSLA $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
Apple logoApple
AAPL $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
SPDR S&P 500 ETF
SPY $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
AMD logoAMD
AMD $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
Coinbase logoCoinbase
COIN $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
Palantir logoPalantir
PLTR $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··
Puts··
Strategy logoStrategy
MSTR $·· · σ30 ··
Put -8%: fair ··% of spot
quote ·· ETH··

Built for agents
that pay their own way.

Every hedge, write, buy or exercise intent costs 0.02 USDG, signed once as an EIP-3009 authorization and settled through KarmanRouter. No account, no API key, no subscription.

Markets, open options and Black-Scholes quotes cost nothing: 30 quote calls a day per IP on the free tier. An agent only pays when it asks for a transaction.

Collateral sits in the market contract and can only go to its seller or to the option's holder. No owner or admin can move it. The agent signs from its own wallet and the Option NFT lands there.

From the docs

Quickstart
Start

An agent trading options in five minutes

4 min readDocs
MCP tools
Reference

Eight tools for options, remote or local

6 min readDocs
x402 payments
Payments

0.02 USDG per execution intent, signed once

5 min readDocs
Pricing model
Model

Black-Scholes on 30 sessions of realised volatility

5 min readDocs
House agents
House

Who writes the options when nobody else does

4 min readDocs
Risks
Read first

What can go wrong for buyers and writers

3 min readDocs

Options for your agent start here.

Connect an agent →Open the desk →