# Managing Your Positions

In this guide, we will cover the following topics:

1. Understanding the Positions screen
2. Adding or Exiting Positions
3. Settlement by Physical Delivery – settling the underlying asset 
4. Settlement by Cash – settling cash via a swap

### I. Understanding the Positions screen

<figure><img src="/files/DPd5PGLdBvBqvS1alLIO" alt=""><figcaption><p>Open Positions</p></figcaption></figure>

#### 1. Position Filters

You can use various filters to shortlist your positions across markets and specific contracts.

#### 2. Open Positions

The list of open positions are displayed along with the average entry price, current mark-to-market plus bookedf profits & losses and other relevant contract information.

#### 3. Position Actions

Depending on the type of position and whether it's expired or not, the various possible actions are displayed allowing you to Add, Reduce or Exit your positions. You can also choose to create a managed order via the AMM.

Expired positions will have a different set of actions compared to Open positions (shown below.)

### II. Adding or Exiting Positions

Clicking the "Add" button allows you to increase the number of lots you have bought or sold. Clicking "Exit" allows you to reduce the number of lots bought or sold and close your position in a single order.

### III. Underlying/Physical Delivery

After the options contracts have expired, a different set of actions ("Settlement Actions") are possible, allowing the buyer to exercise the underlying asset or settle with the cash token.

<figure><img src="/files/pikMG4LyVcAzCyqLwsr1" alt=""><figcaption><p>Expired Positions Actions</p></figcaption></figure>

Clicking "Exercise" allows for physical settlement of the underlying asset. In this case, the buyer is required to deposit 5600 USDC to settle a 0.1 WBTC long 56000 call option.

<figure><img src="/files/Y6LfGB0L6qST5rCQN3Wj" alt=""><figcaption><p>Exercise 0.1 WBTC 56000 Call Option</p></figcaption></figure>

### IV. Cash Settlement with Swap

Alternatively, the underlying asset (WBTC) can be partially encashed to settle the In-The-Money amount for the option by clicking "Partial Encash" or "Cash Settle."

In this case, the option seller's underlying asset margin is partially swapped into the required settlement amount which is sent to the buyer. The remaining margin amount is refunded to the seller who can subsequently withdraw it from the DEX.

<figure><img src="/files/mmAhEicJFDIhmLqf9BbD" alt=""><figcaption><p>Cash settlement after partially swapping the underlying asset for cash</p></figcaption></figure>

### Further Reading

{% content-ref url="/pages/uoSoiNlMxwh54hlL95SM" %}
[Exercise Option](/user-manual/settlements/exercise-option.md)
{% endcontent-ref %}

{% content-ref url="/pages/sjc8ddqp05i6r9kNXKZL" %}
[Force Cash Settlements](/user-manual/settlements/force-cash-settlements.md)
{% endcontent-ref %}

{% content-ref url="/pages/HnnVZO75XPx0NWXtNrMn" %}
[Recover Margin](/user-manual/settlements/recover-margin.md)
{% endcontent-ref %}

{% content-ref url="/pages/QHWQf4Ec7ooTiulkIE4V" %}
[Automated Settlements](/user-manual/settlements/automated-settlements.md)
{% endcontent-ref %}


---

# 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://docs.optswap.org/quick-start/managing-your-positions.md?ask=<question>
```

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.