Emergency Exit Position

curl -X POST "https://api.strike.markets/emergency-exit" \
  -H "X-API-Key: stk_your_api_key_here" \
  -H "Content-Type: application/json" \
  -d '{
    "positionId": 12345
  }'

{
  "success": true,
  "refundedAmount": "100.0"
}

​

Overview

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Authentication

X-API-Key: stk_your_api_key_here

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Request Body

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Response Fields

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Emergency Exit Mechanics

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How It Works

1. Position Cancelled: The position is immediately removed from the system
2. Margin Refunded: Your original margin is returned to your balance
3. No PnL: No profit or loss is realized, regardless of current position value
4. No Fees: No closure fees are charged for emergency exits

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What You Get Back

• Original margin only: The exact USD amount you put up as margin
• No interest or funding: No compensation for time held
• No profit: Even if position was profitable, you only get original margin

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What You Forfeit

• Unrealized PnL: Any profit or loss is abandoned
• Potential gains: No benefit from favorable price movements
• Position exposure: All market exposure is immediately eliminated

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When to Use Emergency Exit

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Legitimate Use Cases

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System Issues

• Platform downtime: When normal trading is unavailable
• Smart contract issues: If there are blockchain-related problems
• Critical bugs: When position management is compromised

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Personal Emergencies

• Immediate liquidity needs: When you need your margin back instantly
• Account security concerns: If you suspect account compromise
• Technical difficulties: When you cannot access normal trading functions

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Market Conditions

• Extreme volatility: When normal price discovery breaks down
• Liquidity crisis: When position closure might be impaired
• Force majeure events: During exceptional market circumstances

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When NOT to Use Emergency Exit

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Business Logic

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Position Validation

• Position must exist and belong to authenticated wallet
• Position must be in “open” status
• Cannot emergency exit already closed or liquidated positions

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Refund Calculation

Refunded Amount = Original Margin

• Original margin: 100.00 USD
• Current position value: 150.00 USD (profit) or 75.00 USD (loss)
• Emergency exit refund: 100.00 USD (always original margin)

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Balance Updates

1. Position removed: Deleted from all position tracking
2. Margin returned: Original margin added to withdrawable balance
3. No other effects: No PnL, fees, or other adjustments

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Comparison with Normal Closure

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Error Responses

{
  "error": 400,
  "message": "Position not found or already closed"
}

{
  "error": 401,
  "message": "Authorization header missing"
}

{
  "error": 403,
  "message": "Position does not belong to authenticated wallet"
}

{
  "error": "RATE_LIMIT_EXCEEDED",
  "message": "Rate limit exceeded. Please wait 45 seconds.",
  "retry_after": 45
}

​

Usage Examples

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Emergency Exit from Profitable Position

Request:
{
  "positionId": 12345
}

Response:
{
  "success": true,
  "refundedAmount": "100.0"
}

​

Emergency Exit from Loss Position

Request:
{
  "positionId": 12346
}

Response:
{
  "success": true,
  "refundedAmount": "100.0"
}

​

Large Position Emergency Exit

Request:
{
  "positionId": 12347
}

Response:
{
  "success": true,
  "refundedAmount": "1000.0"
}

​

Risk Considerations

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Opportunity Cost

• Forfeited profits: Any gains are lost permanently
• Market recovery: Position might have recovered if held
• Timing risk: Market conditions might improve after exit

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Strategic Impact

• Portfolio disruption: Removes planned market exposure
• Reentry costs: New positions incur fresh fees and spreads
• Tax implications: May affect accounting for gains/losses

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Emotional Factors

• Panic decisions: Emergency exits are often made under stress
• Regret potential: May regret forfeiting profits later
• Learning opportunity: Missing chance to learn from position management

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Best Practices

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Before Using Emergency Exit

1. Assess alternatives: Can you use normal closure instead?
2. Check market conditions: Is normal trading functioning?
3. Consider consequences: Are you forfeiting significant profits?
4. Evaluate urgency: Is this truly an emergency?

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Decision Framework

Emergency Exit Decision Tree:

Is normal trading available?
├─ YES: Use normal closure instead
└─ NO: Continue assessment

Is this truly urgent?
├─ NO: Wait for normal trading to resume
└─ YES: Continue assessment

Can you afford to forfeit PnL?
├─ NO: Consider waiting
└─ YES: Emergency exit may be appropriate

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After Emergency Exit

1. Review decision: Document why emergency exit was necessary
2. Monitor markets: Track what would have happened if held
3. Learn from experience: Update risk management procedures
4. Plan reentry: If needed, plan new position entry

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Recovery and Next Steps

1. Confirm Refund - Check Account for margin refund
2. Review Dashboard - Update portfolio view in Dashboard
3. Assess Markets - Use Market Data to evaluate conditions
4. Consider Reentry - If conditions improve, consider new positions