> ## Documentation Index
> Fetch the complete documentation index at: https://docs.convallax.com/llms.txt
> Use this file to discover all available pages before exploring further.

# claimHolderPayout()

> Burn option tokens and claim USDC payout after an option series has been settled.

Claim the USDC payout for option tokens held at expiry. This function burns the specified amount of ERC-1155 option tokens and transfers the corresponding USDC payout to the caller.

**Contract:** `ConvallaxCore` — `0x76c41a03e0993F0261bB3B1949320cA693f76faE`

## Function Signature

```solidity theme={null}
function claimHolderPayout(uint256 seriesId, uint256 amount) external
```

## Parameters

<ParamField body="seriesId" type="uint256" required>
  The settled option series ID.
</ParamField>

<ParamField body="amount" type="uint256" required>
  Number of option tokens to burn and claim (6 decimals). Example: `10000000` = 10 whole options.
</ParamField>

## Payout Calculation

The `payoffPerWhole` (USDC raw per 1 whole option, i.e. per 1,000,000 raw tokens) is set at settlement:

```
Call:  payoffPerWhole = max(0, resolutionBps − strikeBps) × 10,000
Put:   payoffPerWhole = max(0, strikeBps − resolutionBps) × 10,000
```

Holder payout for burning `amount` raw tokens:

```
payout = amount × payoffPerWhole / 1,000,000
```

If the option expired worthless (`payoffPerWhole = 0`), the tokens are burned but no USDC is transferred.

## Prerequisites

* The series must be **settled** (via `settleWithAttestation()` or `settle()`)
* The caller must hold at least `amount` of option tokens for the series
* No approval is needed — `ConvallaxCore` is the minter/burner of option tokens

## Example

```javascript theme={null}
const core = new ethers.Contract(
  '0x76c41a03e0993F0261bB3B1949320cA693f76faE',
  ['function claimHolderPayout(uint256 seriesId, uint256 amount) external'],
  signer
);

const tx = await core.claimHolderPayout(seriesId, ethers.parseUnits('10', 6));
await tx.wait();
```

<Info>
  There is no deadline to claim. Payouts remain available on-chain indefinitely.
</Info>