> For the complete documentation index, see [llms.txt](https://docs.thalesmarket.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.thalesmarket.io/using-thales/exercising-a-winning-position.md).

# Exercising a Winning Position

#### T0 "*exercise"* a Parimutuel option means to convert your positional tokens to  USD in a 1:1 ratio during the maturity phase of the specific market.

After launching the [Thales dapp](https://thalesmarket.io/markets) and connecting your wallet, navigate to the **`PROFILE`** page on the left sidebar.

<figure><img src="/files/Jgo2ArvwWfabZJS3Z2sD" alt=""><figcaption></figcaption></figure>

After you are on the profile page, go to the second tab that says **`MATURED POSITIONS:`**

<figure><img src="/files/jRDPeUeijAuK66n8teAY" alt=""><figcaption></figcaption></figure>

The matured markets where your positional tokens have won will be shown with the status: **`CLAIM`**.

Click on the matured position to reach the **`Exercise`** page:

<figure><img src="/files/WJVLJo2xz83BgceaINhQ" alt=""><figcaption></figcaption></figure>

On the **`Exercise`** page you can see:

* The type of positional tokens that are available for you to exercise
* Your `Payout amount` in [USD](https://docs.thales.market/binary-options/susd)
* How much time you have left until expiration to exercise your options tokens
* The current `Network fee (gas)` price to exercise the transaction, denominated to USD
* The **`Exercise`** button

After clicking the **`Exercise options`** button you will get a request from your wallet to confirm the transaction. After the transaction is confirmed, all the Positional Tokens you own from that market get burned and the **USD** quoted in the **`Payout amount`** field will get deposited into your wallet from the market contract.

{% hint style="danger" %}
[Currently, there is a claim window of 12 weeks to claim your winnings. After that, claiming will not be possible.](#user-content-fn-1)[^1]
{% endhint %}

[^1]: