Can an Options Contract Be Represented by an ERC-721 Token?
Yes, an options contract is a perfect candidate for an ERC-721 NFT. Since each contract has unique terms (underlying asset, strike price, expiration date, premium), the non-fungible nature of the ERC-721 token is ideal for encoding and uniquely owning that specific contract.
This allows the option to be traded as a unique asset on secondary NFT marketplaces.