Fix coin-margin expiry breakeven to use coin premium formula.

Use K/(1-p) and K/(1+p) for coin calls/puts instead of adding ETH premium to USD strike; align T-view straddle band with coin quotes.

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

lib/common/static/options_panel.js

@@ -614,7 +614,13 @@
     if (strike == null || per == null) return "—";
     const k = Number(strike);
     const d = Number(per);
-    if (!Number.isFinite(k) || !Number.isFinite(d)) return "—";
+    if (!Number.isFinite(k) || !Number.isFinite(d) || d <= 0) return "—";
+    if (isCoinMarginMode()) {
+      if (d >= 1) return "—";
+      const lo = Math.round((k / (1 + d)) * 10) / 10;
+      const hi = Math.round((k / (1 - d)) * 10) / 10;
+      return lo.toFixed(0) + " ~ " + hi.toFixed(0);
+    }
     const lo = Math.round((k - d) * 10) / 10;
     const hi = Math.round((k + d) * 10) / 10;
     return lo.toFixed(0) + " ~ " + hi.toFixed(0);
@@ -623,6 +629,9 @@
   function formatStraddlePremiumCell(callAsk, putAsk) {
     const per = straddleAskPerUnit(callAsk, putAsk);
     if (per == null) return '<span class="muted">不可双买</span>';
+    if (isCoinMarginMode()) {
+      return fmt(per, 4) + " " + (state.underlying || "ETH");
+    }
     return fmtUsdc(per) + " USDC";
   }
 

lib/exchange/okx_options_lib.py

@@ -889,6 +889,7 @@ def build_option_chain(
             strike=strike,
             ask_px=ask,
             mark_px=mark,
+            quote_in_coin="_UM" not in (family or "").upper(),
         )
         mny = option_moneyness(opt_type=opt_type, strike=strike, index_px=idx)
         exp_key = str(exp_ms)
@@ -1028,11 +1029,18 @@ def quote_option_contract(ex: ccxt.okx, inst_id: str) -> dict[str, Any]:
         idx = fetch_index_price(ex, uly)
         opt_type = meta.get("optType")
         strike = _safe_float(meta.get("stk"))
+        try:
+            from lib.options.options_margin_mode_lib import margin_mode_from_inst_id
+
+            quote_in_coin = margin_mode_from_inst_id(inst_id) == "coin"
+        except Exception:
+            quote_in_coin = "USD_UM" not in inst_id.upper() and "-USD-" in inst_id.upper()
         expiry_be = expiry_breakeven_from_ask(
             opt_type=str(opt_type or ""),
             strike=strike,
             ask_px=book_ask if can_open else None,
             mark_px=mark,
+            quote_in_coin=quote_in_coin,
         )
         return {
             "ok": True,
@@ -1824,11 +1832,18 @@ def format_position_row(
         round(total_premium(avg, eth_amount), 8) if avg is not None and eth_amount > 0 else None
     )
     delta_pa = _safe_float(pos.get("deltaPA"))
+    try:
+        from lib.options.options_margin_mode_lib import margin_mode_from_inst_id
+
+        quote_in_coin = margin_mode_from_inst_id(inst_id) == "coin"
+    except Exception:
+        quote_in_coin = "USD_UM" not in inst_id.upper() and "-USD-" in inst_id.upper()
     expiry_be = expiry_breakeven_px(
         opt_type=str(opt_type or ""),
         strike=strike,
         avg_px=avg,
         be_px_api=_safe_float(pos.get("bePx")),
+        quote_in_coin=quote_in_coin,
     )
     close_be = close_breakeven_idx(
         opt_type=str(opt_type or ""),

lib/options/options_pricing_lib.py

@@ -438,10 +438,16 @@ def expiry_breakeven_from_ask(
     strike: float | None,
     ask_px: float | None,
     mark_px: float | None = None,
+    quote_in_coin: bool = False,
 ) -> float | None:
     """买入前预估到期平衡:权利金按卖一;无卖一时回退标记价."""
     prem = ask_px if ask_px is not None and ask_px > 0 else mark_px
-    return expiry_breakeven_px(opt_type=opt_type, strike=strike, avg_px=prem)
+    return expiry_breakeven_px(
+        opt_type=opt_type,
+        strike=strike,
+        avg_px=prem,
+        quote_in_coin=quote_in_coin,
+    )
 
 
 def expiry_breakeven_px(
@@ -450,17 +456,37 @@ def expiry_breakeven_px(
     strike: float | None,
     avg_px: float | None,
     be_px_api: float | None = None,
+    quote_in_coin: bool = False,
 ) -> float | None:
-    """到期平衡点:持有至到期时标的指数盈亏为 0 的价格.优先 OKX bePx."""
+    """到期平衡点:持有至到期时标的指数盈亏为 0 的价格.优先 OKX bePx.
+
+    USDC: Call K+p / Put K-p (p 为美元报价).
+    币本位: Call K/(1-p) / Put K/(1+p) (p 为币报价,与卖一同单位).
+    """
     if be_px_api is not None and be_px_api > 0:
         return round(float(be_px_api), 2)
     if strike is None or avg_px is None:
         return None
+    try:
+        k = float(strike)
+        p = float(avg_px)
+    except (TypeError, ValueError):
+        return None
+    if p <= 0:
+        return round(k, 2)
     o = (opt_type or "").upper()
+    if quote_in_coin:
         if o == "C":
-        return round(strike + avg_px, 2)
+            if p >= 1:
+                return None
+            return round(k / (1.0 - p), 2)
         if o == "P":
-        return round(strike - avg_px, 2)
+            return round(k / (1.0 + p), 2)
+        return None
+    if o == "C":
+        return round(k + p, 2)
+    if o == "P":
+        return round(k - p, 2)
     return None
 
 
@@ -618,20 +644,30 @@ def straddle_premium_total(
 def straddle_breakeven_band(
     strike: float | None,
     combined_ask_per_unit: float | None,
+    *,
+    quote_in_coin: bool = False,
 ) -> tuple[float | None, float | None]:
     """跨式到期平衡带:下平衡 ~ 上平衡(按双卖一报价和)."""
     if strike is None or combined_ask_per_unit is None:
         return None, None
     k = float(strike)
     d = float(combined_ask_per_unit)
+    if d <= 0:
+        return None, None
+    if quote_in_coin:
+        if d >= 1:
+            return None, None
+        return round(k / (1.0 + d), 2), round(k / (1.0 - d), 2)
     return round(k - d, 2), round(k + d, 2)
 
 
 def format_straddle_band(
     strike: float | None,
     combined_ask_per_unit: float | None,
+    *,
+    quote_in_coin: bool = False,
 ) -> str:
-    lo, hi = straddle_breakeven_band(strike, combined_ask_per_unit)
+    lo, hi = straddle_breakeven_band(strike, combined_ask_per_unit, quote_in_coin=quote_in_coin)
     if lo is None or hi is None:
         return ""
     return f"{lo:.0f} ~ {hi:.0f}"