diff --git a/backend/app/api/trades.py b/backend/app/api/trades.py
index bf1d279..bb858ba 100644
--- a/backend/app/api/trades.py
+++ b/backend/app/api/trades.py
@@ -16,6 +16,51 @@ def _row(r: Any) -> dict:
return dict(r)
+def _expiry_settle_info(g: dict, fills: list) -> dict | None:
+ """到期结算口径：期权价 = 内在价值（指数 vs 行权价），非盘口。"""
+ if str(g.get("close_reason") or "") != "expiry":
+ return None
+ strike = g.get("strike")
+ side = str(g.get("option_side") or "").lower()
+ settle_index = g.get("settle_index_px")
+ if settle_index is None and strike is not None:
+ for raw in fills:
+ f = dict(raw) if not isinstance(raw, dict) else raw
+ if str(f.get("leg")) != "option" or str(f.get("action")) != "close":
+ continue
+ if abs(float(f.get("slip") or 0)) > 1e-12:
+ continue
+ px = float(f.get("fill_px") or 0)
+ k = float(strike)
+ if side in ("call", "c"):
+ settle_index = k + px
+ elif side in ("put", "p"):
+ settle_index = k - px
+ break
+ intrinsic = None
+ if settle_index is not None and strike is not None:
+ s = float(settle_index)
+ k = float(strike)
+ if side in ("call", "c"):
+ intrinsic = max(s - k, 0.0)
+ elif side in ("put", "p"):
+ intrinsic = max(k - s, 0.0)
+ formula = (
+ "Call: max(指数−行权价, 0)"
+ if side in ("call", "c")
+ else "Put: max(行权价−指数, 0)"
+ if side in ("put", "p")
+ else ""
+ )
+ return {
+ "settle_index_px": float(settle_index) if settle_index is not None else None,
+ "strike": float(strike) if strike is not None else None,
+ "intrinsic": intrinsic,
+ "formula": formula,
+ "perp_note": "永续仍按市价平仓（非指数交割）",
+ }
+
+
def _enrich_group(g: dict, fills: list) -> dict:
summary = summarize_fills_pnl(fills)
# LIVE：优先 groups.realized_pnl（已按交易所回写，含资金费）
@@ -31,6 +76,11 @@ def _enrich_group(g: dict, fills: list) -> dict:
elif g.get("realized_pnl") is not None:
g["net_pnl"] = float(g["realized_pnl"])
g.update(hold_timing(g, fills))
+ info = _expiry_settle_info(g, fills)
+ if info:
+ g["expiry_settle"] = info
+ if g.get("settle_index_px") is None and info.get("settle_index_px") is not None:
+ g["settle_index_px"] = info["settle_index_px"]
return g
diff --git a/backend/app/models/db.py b/backend/app/models/db.py
index c190ace..04cf465 100644
--- a/backend/app/models/db.py
+++ b/backend/app/models/db.py
@@ -42,7 +42,8 @@ CREATE TABLE IF NOT EXISTS groups (
slip_cost REAL DEFAULT 0,
note TEXT,
exec_mode TEXT,
- funding_usdt REAL
+ funding_usdt REAL,
+ settle_index_px REAL
);
CREATE TABLE IF NOT EXISTS fills (
@@ -152,6 +153,7 @@ class Database:
for table, col, decl in (
("groups", "exec_mode", "TEXT"),
("groups", "funding_usdt", "REAL"),
+ ("groups", "settle_index_px", "REAL"),
("fills", "exec_mode", "TEXT"),
("fills", "fee_ccy", "TEXT"),
):
diff --git a/backend/app/sim/matcher.py b/backend/app/sim/matcher.py
index e29b13b..14f6568 100644
--- a/backend/app/sim/matcher.py
+++ b/backend/app/sim/matcher.py
@@ -566,10 +566,20 @@ class Matcher:
).fetchone()
fees = float(g["fees"] or 0) + pf.fee + of.fee
slip = float(g["slip_cost"] or 0) + pf.slip + of.slip
+ settle_index = float(spot) if is_expiry and spot is not None else None
self.db._conn.execute(
"""UPDATE groups SET status=?, close_at_ms=?, close_reason=?, realized_pnl=?,
- fees=?, slip_cost=?, note=NULL WHERE group_id=?""",
- ("closed", now, reason, net_after_all_fees, fees, slip, group_id),
+ fees=?, slip_cost=?, note=NULL, settle_index_px=? WHERE group_id=?""",
+ (
+ "closed",
+ now,
+ reason,
+ net_after_all_fees,
+ fees,
+ slip,
+ settle_index,
+ group_id,
+ ),
)
self.db._conn.execute(
"""UPDATE positions SET
diff --git a/docs/更新说明.md b/docs/更新说明.md
index 4ff5f5f..92dd5fc 100644
--- a/docs/更新说明.md
+++ b/docs/更新说明.md
@@ -5,6 +5,16 @@
---
+## 2026-07-29 — 到期结算展示：指数 / 行权价 / 内在价值
+
+### 变更
+
+1. 到期平仓期权价本就是 **内在价值**（`max(指数−K,0)` / Put 对称），不是盘口；详情页补 **结算指数、行权价、内在价值**。
+2. 成交行标注「期权到期结算」；组表落库 `settle_index_px`。
+3. 说明：永续到期时仍按市价平（与策略文档一致）。
+
+---
+
## 2026-07-29 — 持仓卡显示开仓时间 / 持仓时长
### 变更
diff --git a/frontend/src/labels.ts b/frontend/src/labels.ts
index 73adf4c..5b0d037 100644
--- a/frontend/src/labels.ts
+++ b/frontend/src/labels.ts
@@ -52,10 +52,18 @@ export function positionSidesZh(
return `${sideZh(perp)}/${sideZh(option)}`;
}
-export function fillDescZh(leg: string, action: string, side: string): string {
+export function fillDescZh(
+ leg: string,
+ action: string,
+ side: string,
+ closeReason?: string | null,
+): string {
const l = LEG_ZH[leg] || leg;
const a = ACTION_ZH[action] || action;
const s = SIDE_ZH[side] || side;
+ if (leg === "option" && action === "close" && closeReason === "expiry") {
+ return "期权到期结算";
+ }
// 期权买入开仓：「期权开多」；永续：「永续开多/开空」
if (leg === "option" && action === "open") return "期权开多";
if (leg === "option" && action === "close") return "期权平多";
diff --git a/frontend/src/pages/Trades.tsx b/frontend/src/pages/Trades.tsx
index f475524..e86eddb 100644
--- a/frontend/src/pages/Trades.tsx
+++ b/frontend/src/pages/Trades.tsx
@@ -15,6 +15,14 @@ type PnlSummary = {
net_pnl: number | null;
};
+type ExpirySettle = {
+ settle_index_px: number | null;
+ strike: number | null;
+ intrinsic: number | null;
+ formula: string;
+ perp_note: string;
+};
+
type Group = {
group_id: string;
status: string;
@@ -31,6 +39,9 @@ type Group = {
hold_close_at_ms?: number | null;
hold_ms?: number | null;
hold_basis?: string | null;
+ strike?: number | null;
+ settle_index_px?: number | null;
+ expiry_settle?: ExpirySettle | null;
pnl_summary?: PnlSummary;
};
@@ -276,14 +287,46 @@ export default function TradesPage() {
- 成交价为成交均价（未预先扣费）；手续费单独列出。净盈亏 = 期权盈亏 +
- 永续盈亏 − 全部手续费。
+ {selectedGroup.close_reason === "expiry"
+ ? "到期结算：期权按「指数 vs 行权价」的内在价值入账（非盘口）；永续仍按市价平。净盈亏 = 期权盈亏 + 永续盈亏 − 全部手续费。"
+ : "成交价为成交均价（未预先扣费）；手续费单独列出。净盈亏 = 期权盈亏 + 永续盈亏 − 全部手续费。"}
+ {selectedGroup.expiry_settle ? (
+
+
+ 结算指数
+
+ {fmt(selectedGroup.expiry_settle.settle_index_px)}
+
+
+
+ 行权价
+
+ {fmt(selectedGroup.expiry_settle.strike, 0)}
+
+
+
+ 内在价值
+
+ {fmt(selectedGroup.expiry_settle.intrinsic)}
+ {selectedGroup.expiry_settle.formula
+ ? ` · ${selectedGroup.expiry_settle.formula}`
+ : ""}
+
+
+
- {fillDescZh(f.leg, f.action, f.side)}
+ {fillDescZh(
+ f.leg,
+ f.action,
+ f.side,
+ selectedGroup.close_reason,
+ )}
价 {f.fill_px.toFixed(4)} · 数量 {f.qty_eth} · 手续费{" "}