feat(hedge): option-primary watch entry with leverage gate

Start strategy arms a watching plan instead of opening immediately; list filters by leverage; type is a dropdown defaulting to OTM.

Co-authored-by: Cursor <cursoragent@cursor.com>

tests/test_hedge_plan_option_primary.py

@@ -9,9 +9,11 @@ from lib.hedge_plan.hedge_plan_option_primary_lib import (
     opt_type_for_view,
     option_bid_liquidity_ok,
     perp_direction_for_view,
+    pick_option_primary_candidate,
     size_from_premium,
     target_hit,
     validate_option_primary_start,
+    validate_option_primary_watch,
 )
 from lib.hedge_plan.hedge_plan_orders_lib import build_po_path_plan, validate_start_body
 
@@ -93,9 +95,25 @@ class TestOptionPrimary(unittest.TestCase):
         self.assertEqual(path[1]["direction"], "short")
         self.assertFalse(path[1]["attach_tpsl"])
 
-    def test_validate_option_primary_start(self):
+    def test_validate_option_primary_watch_and_start(self):
+        watch_body = {
+            "option_primary": True,
+            "watch_entry": 1,
+            "direction": "long",
+            "exchange_symbol": "ETH/USDT:USDT",
+            "premium_budget": 100,
+            "option_target_points": 50,
+            "perp_target_points": 30,
+            "option_perp_ratio": 4,
+            "option_leverage": 200,
+            "moneyness": "otm",
+        }
+        self.assertIsNone(validate_option_primary_watch(watch_body))
+        self.assertIsNone(validate_start_body("perp_options", watch_body))
+
         body = {
             "option_primary": True,
+            "watch_entry": 0,
             "direction": "long",
             "contracts": 1,
             "opt_inst_id": "ETH-USD-260831-1900-C",
@@ -120,6 +138,31 @@ class TestOptionPrimary(unittest.TestCase):
         bad = dict(body, opt_type="P")
         self.assertIsNotNone(validate_start_body("perp_options", bad))
 
+    def test_pick_candidate_respects_leverage(self):
+        chain = {
+            "index_px": 1900,
+            "expiries": [
+                {
+                    "exp_time": 9_999_999_999_999,
+                    "contracts": [
+                        {"inst_id": "LOW", "opt_type": "C", "strike": 1920, "ask": 20, "ct_mult": 0.01},
+                        {"inst_id": "OK", "opt_type": "C", "strike": 1925, "ask": 8, "ct_mult": 0.01},
+                    ],
+                }
+            ],
+        }
+        # 1900/20=95 < 200; 1900/8=237.5 ≥ 200
+        picked = pick_option_primary_candidate(
+            chain,
+            direction="long",
+            moneyness="otm",
+            strike_interval=50,
+            min_hours=1,
+            min_opt_leverage=200,
+        )
+        self.assertIsNotNone(picked)
+        self.assertEqual(picked["inst_id"], "OK")
+
     def test_preview_builds_scenarios(self):
         body = {
             "direction": "long",