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No. The payoff is N×max(0,1K/S)N \times \max(0, 1 - K/S) capped at N. It’s call-like but not a standard call.
Yes. Increasing your stream opens a new position sized off the increment. You can close positions individually by referencing positionId when decreasing the stream.
Opens/closes revert until the feed refreshes. Liquidations ALWAYS succeed.