ADV: 30-day volume / 30 24h before the contract first trades . Tick Size. Payoff Diagram of a Long and Short Future Instrument. American Option: it can be exercised at any time prior to its expiration date. Normally half an hour after futures contracts with the same expiry date are created. Daily Settlement – a daily settlement process (at UTC 08:00) moves Unrealized PnL into Realized PnL, increasing flexibility of capital utilization. Contracts. Seller leverage allows investors not to pay full margins, thus increasing their utilization of funds significantly. There are many brokers available online and physically that also offer micro lot or micro contract in which one micro lot is equivalent to 1/10th of forex contract, and it is then valued at $1000 USD. Transparent price discovery system: Unlike some warrant products that only allow buyers to purchase at sellers’ set prices, we allow both options contract buyers and sellers  to quotes freely, which greatly enhances trade freedom and market transparency, and enables the traded prices to closely reflect the market trends. 7x24. With such a large position, the cost of 1 pip will be 10 USD. This means that such an option can be exercised … A contract size in Forex Trading is the deliverable number of items and finance equipment under-lying futures positions and also option contracts which can be exchanged on a trading. OKEx Options EOS. The sum of all sliced orders is equal to the total order quantity. Minimum Size. The size of the contract appears to have made this impossible and, having only partially liquidated the trade, the exchange is now facing the prospect of a $420 million unfilled position. Daily, Bi-daily, Weekly, Bi-weekly, Monthly, Bi-monthly,Quarterly and Bi-quarterly, For details, please click the Introduction to Options Expiration Dates, European, ITM options are automatically exercised and settled at expiration, Determined by OKEx using the Black model on a real-time basis, For options with new expiration date, normally half an hour after futures contracts with the same expiry date are opened, For details, please click the fee rate table, Named in order of “underlying asset – expiry date – exercise price – type”. Tiered Maintenance Margin Ratio System. Partial Liquidation - for users with larger positions and tiered as level 3 or above, when the margin ratio is lower than the MMR of the tier plus the liquidation fee rate, but higher than the MMR of the first tier plus the liquidation fee rate, our system will attempt to bring the user down to a lower tier by partially liquidating the user's positions, until the MMR requirement of the tier is satisfied. Option premium: the price at which an option is bought or sold. ETH. Tiered Maintenance Margin Ratio System - Maintenance margin ratio (MMR) is the lowest margin ratio required for holding a user's current positions. a) Options give contract holder the right to buy or sell an underlying asset on a fixed day in the future. The larger the position a user holds, the higher the MMR, and the maximal leverage available will be lowered effectively. Leverage. You should pay very close attention to the choice of the margin type and the size of the leverage. OKEx deals with a variety of cryptocurrencies and provides its comprehensive functionality to fulfill the trading needs of the user. Sophisticated risk management system: We formulate smart margin calculation and partial liquidation procedures according to a robust and intelligent risk management algorithm. Trading Hours. OKEx Options Contract, one of our derivative products, are settled in BTC, ETH, EOS and other cryptocurrencies. This section shows you transactional information such as the number of contracts in the order, or “Size(Cont),” “Margin(BTC)," “Status” and so on. Exercise price (or strike price): the price at which the option holder can buy or sell an underlying asset when exercising a call or put option respectively. EOS. Futures price reflects the market sentiment of the subject’s price. They have recently moved onto the crypto derivatives market in a big way. Same goes for ETH/USD and other index options. 0.0005 BTC. The actual bushels, or batches of $100, do … OKEx, a Hong Kong-based cryptocurrency exchange may be in some trouble as a result of a trade. The lower $BTCUSDgoes, the more OKEX will have to clawback from traders this friday (to settle the huge liquidation at $8050) Okex API Like the official document interface, Support for arbitrary extension. When the Margin Ratio drops below the MMR plus the liquidation fee rate, liquidation (of full or partial position) occurs. weekly, bi-weekly, quarterly, bi-quarterly, IX. Only options of the European type are validated on OKEx. If the price of BTC/USD index is 9000 USD, higher than 6000 USD upon expiry, the option holder can receive a payment of [(final settlement price - 6000) / (final settlement price) x contract multiplier] = [(9000-6000)/9000] x 0.1= 0.033 BTC. The Tice size will be 0.1. The available range of the leverage is 0.01-125x. The options mark price is determined by the Black model on a real-time basis. While they are presented as a way for miners to hedge their risk (which was the original idea behind futures contracts), we would not recommend beginners to delve into them as the liquidity may be substantially … Options can be classified into in-the-money (ITM), at-the-money (ATM) and out-of-the-money (OTM), depending on the difference between the strike price and the price of the underlying asset. You can also short options contract to earn options premium immediately. 0.1. Underlying asset: asset for trading on which derivatives contract’s price is based, including commodities, financial assets, interest rates and composite indices. This means that you can sell Euro/Usd for 1.0873 and you can buy Eur/Usd for 1.08752 and the difference 1.08752-1.0873= 0.00222 is known as the spread which in this example will be 2.2 pip. 0.0005 ETH. OKEx is a leading BTC exchange with highly secure SSL encryption and cold storage etc for crypto trading. Creation Time. 0.0005 EOS. OKEx, a top full-service cryptocurrency exchange, announced earlier today that its new BTCUSD options trading product is now officially live on the OKEx website and API. OKEx is not responsible for any judgment or analysis you made based on the information provided by the Service. Cash settled in ETH. They are being traded against the USD and CNY. Prior to expiry, both the buyer and the seller can close the open positions and free their rights and obligations in advance. European; In-the-Money (ITM) options will be automatically exercised and settled at expiration. This is where 80 different futures contracts (with expiration dates, as opposed to Perpetual … Therefore, we will use quarterly futures as an exa… To standardize trading behaviors as well as manage and control systematic risks, OKEx has set a series of options trading rules and systems. Contract Multiplier. 100. Minimum BTC-PERP Trade Size: The minimum provide (maker) size for BTC-Perp is 0.01, this only applies when you make more than 10 orders per hour smaller than 0.01. 08:00 AM(UTC), Friday of the expiry week. For an instance, the contract size of gold futures contract is 100 ounces (on COMEX), so move of $1 in the price of gold translates into $100 change in the value of gold futures contract. The contract size in forex is consistent for this kind of futures and also options contracts, as well as differs based on the financial instrument or commodity which is exchanged. That means if … Leverage: 0.01～20 Traders can long a position to profit from the increase of a digital asset's price, or short a position to profit from the decline of a digital asset's price. For options, only the buyer pays a premium, but no margin. That being said, BTC and LTC futures contracts are also available on this exchange. Mark Price. Minimum contract size: 0.0001 BTC: 0.005 BTC: 0.01 BTC: Liquidation reference: Fair price: Fair price: Fair price: Contract loss mechanism: Auto-Deleveraging system: Auto-Deleveraging system: Auto-Deleveraging system: Maker fee: 0.02%: 0.02%: 0.02%: Taker fee: 0.05%: 0.05%: 0.05%: For more details please visit our Frequently Asked Question The contract size in Forex as well can … Whenever there is market volatility, the spot price will deviate from the futures price significantly. For settlement, our options trading operates under a daily settlement system. OKEx is the world’s largest cryptocurrency, spot & derivatives and bitcoin exchange. OKEx futures contract is a virtual derivative product that is settled in digital tokens USDT. Settled with cryptoassets: Our options contracts are settled in cryptoassets instead of fiat currencies, which breaks out the geographical and currency limitations to options trading on exchanges. In other words, when you enter into a contract on okex.com, you agree to buy or sell a $100 for BTC on a future date (contract expiry date). If you want to buy Bitcoin, you can easily get it in 1 minute with Visa, Mastercard or other payment methods. These futures contracts are an obligation to buy / sell which makes them differ from options. There are also Options on OKEx. Contract Types: options are categorized into different styles. 08:00 AM(UTC) The exchange recently processed a USD/BTC futures contract, worth about $460 million. The massive Cryptocurrency exchange OKEx announced the launch of Ether (ETH) options contracts on its trading platform. 08:00 am (UTC), Friday of the expiry week For options, the buyer has the right, but not the obligation, to buy or sell the underlying asset after paying the premium. Bid/Ask and Spread. ... 3.5 At the time of contract delivery (08:00 UTC of every Friday), the system will close the positions on all opened weekly futures. When trading futures, both the buyer and the seller have to pay a margin deposit to open a position. ... Based on the VFAs you have … We average market data of different exchanges in last trading hour for a final settlement price to prevent price manipulations. Lightning Network first appeared in the whitepaper proposed by Joseph Poon and Thaddeus Dryja in 2015. Margin is the money borrowed from the crypto exchange for users to make an … Suppose that our trader uses a 1:100 leverage and can increase the position by 100 times – they will not buy 0.1, but 10 lots. The contract writer (seller) will have to pay relevant amount to the contract hold If there is no benefit from exercising, the buyer can choose not to exercise it. Settlement time. We use this mark price to calculate account margins and manage platform risk , so as to minimize liquidation risks arising from market manipulation. Options are contracts that give buyers the right, but not the obligation, to buy or sell an underlying asset at a predetermined price for a certain period. Sweep Ratio (%): Sliced order size in percentage of an order. There are certain features of USDT-margined futures contracts: The leverage level will be 0.01-100x. Tick Size: 0.01. $ okex = new OkexFuture ($ key, $ secret, $ passphrase); //Place an Order try { $ result = $ okex-> order ()-> post ([ 'instrument_id' => 'BTC-USD-SWAP', 'type' => '1', 'price' => '5000', 'size' => '1', ]); print_r ($ result); } … The contract holder (buyer) can choose to exercise the option if she or he can benefit from doing so. Hence, each BTC/USD option contract represents 0.1 BTC, ETH/USD option contract 1 ETH and EOS/USD option contract 100 EOS. This ensures our options market is not impacted by any single large order, but reflects the overall market trends as accurately as possible. Then, if the price goes to $12,000 and one contract costs you $100/$12,000=~0.0083BTC, your gain will be 0.01–0.0083=0.0008 BTC per contract. The first thing you should note is that the max margin of 100x will depend to a large degree on the the size of … The seller does not need to pay anything in this case. There are close to 100 different Perpetual options from which to choose on OKEx. For trading, Users should follow our price and position limit rules. Expiration date: the date on which the option expires. If there’re 2,000 long contracts and 2,000 short contracts opened, the open interest will be 2,000. Contract expirations. Expiry Time. BTC. OKEx offers crypto options trading for Bitcoin, Ethereum and EOS, allowing users to buy and sell call and put options. It generated huge responses and discussions among the Bitcoin community and has been widely… Source: OKEx Step 1: Go to the options section. Investor can pay option premium to buy call or put options in order to lock in the prices for buying or selling the underlying asset upon the expiry of the options contract. Determined by OKEx using the Black model on a real-time basis ... ETH and LTC. OKEx $460 Million Liquidation Happening Within Hours. OKCoin vs. OKEX Bitcoin Exchange Comparison. The differences between OKEx options and futures are as follows: When trading futures, both the buyer and the seller are obliged to settle a futures contract. The face value of the USDT/BTC contract will be 0.0001 BTC. Total Amount: Total order size in terms of unit of underlying or number of contracts. Under normal circumstances, quarterly futures contracts will have a larger basis than weekly and bi-weekly futures contracts, due to the fact that more uncertainties are expected for a farther delivery date. Cash settled in BTC. European Option: it can only be exercised on its expiration date. Settlement Coin: DASH. The partial liquidation system helps minimize risks and losses of investors while bringing less impact to the market. Per Order Limit: Max Size per … Limit orders sent that are larger than the market's quantity step but smaller than its minimum provide size are automatically turned into IOC orders. Tick Size. The contract is settled in BTC, and each option contract’s face value is 0.1 BTC. Delivery Date – Futures contracts have a fixed delivery date, and the delivery price is the arithmetic mean of the index for the preceding hour before delivery; Mark Price - Mark price is used to calculate users' unrealized profits and losses (UPL) in order to reduce unnecessary liquidation in volatile market conditions. Instead of trading an actual coin, you are trading a financial product that represents the price of a coin. They can be classified into European, American and vanilla options given their exercise styles. OKEX is a digital asset exchange, under the umbrella of OKCoin. What you are trading at okex.com is the batches of $100 (one contract size) priced in BTC, just like one would trade in conventional futures market batches of wheat bushels versus USD on Chicago Mercantile Exchange. Go to the OKEx homepage and navigate to Trade in the top menu to see the available markets. In the above picture, Eur/Usd has a bid price of 1.0873 and and an ask price of 1.08752. Each contract has a face value of fixed amount of digital token(e.g BTCUSDT contract has a face value of 0.0001 BTC). Mark Price. Price Quotation: Quote at 1DASH USD. Then the price of the contract of the same size will be equal to $11,870.0. Cash settled in EOS. Exercise Style. Contract Face Value: 10 USD. In such case, you have the obligation to buy or sell the agreed number of the underlying assets at fixed prices upon expiry. OKEx December 20, 2017 06:51; Created; Limit Order. This allows traders to employ up to 125x leverage on their trades, which is far more than most other exchanges of its size. Determined by OKEx using the Black model on a real-time basis. Traders can open long or short contracts based on the trend of the market. Relationship between S (final settlement price) and K (strike price). OKEX is a large cryptocurrency exchange established in 2016. OKEx Options. European, ITM options are automatically exercised and settled at expiration. The details of contract introduction and fee rules are as follows. Others: there are different types of options available on the market other than European and American options, such as Bermudan option. Tick Size. The price will be the arithmetic mean value of the BTC /USDT or other relevant index of the preceding one hour before delivery. Where 20 million users across 200 countries and regions trade over $100 billion of cryptos every year. Take Call Options Contract BTCUSD-190927-6000-C as an example. So the cost of 1 pip with a 0.1 contract will be equal to 0.1 USD. Quote Coin. OKEx is currently considered one of the largest and most popular crypto-to-crypto and fiat-to-crypto exchanges in the world, serving more than 20 million users in over 100 countries. When trading futures, the potential gains or losses for both buyers and the sellers are unlimited. OKEx; Contract size: 5 XBT: 1 XBT: 1 USD: 10 USD: 100 USD: 1 USD: 100 USD: Frequency: Monthly: Daily, monthly: Quarterly: Quarterly: Weekly, Quarterly: Monthly, Quarterly: Weekly, quarterly: Margin requirement: 37%: 37%: 1%: 1%: 1%: 2%-6%* 10%: Settlement: Cash in USD: Physical: Cash in XBT: Cash in XBT: Cash in XBT: Cash in XBT: Cash in XBT: Trading days: Weekdays: Weekdays: 24/7: 24/7: … ETH. This example clearly shows how leverage … Users can also leverage their contracts up to 100x, giving users the possibility of maximum potential profits. In the following chapters, we will introduce the above rules and systems in detail. Users can make better-informed decisions based on our market data. 1. Broad offerings: OKEx offers options with a lot of different expiration dates and exercise prices for users to choose from. Limit order is an order that limits the maximum buying price of the buyer, and the minimum selling price of the seller. Settlement Coin. When pricing options contracts, OKEx takes a fair reference of the overall market data to determine a fair mark price which is used to calculate users’ position value and P&Ls. 0.001. Only the option contract seller has to pay a margin. The name implies that the underlying of the contract is BTC/USD index, the contract expiry time 08:00 Sep 27, 2019 (UTC), exercise price 6000 USD. Particulars of options contracts on OKEx. And if someone enters a contract size of 0.01 lot, the person would have made a profit if 2 USD. Exercise Style. weekly, bi-weekly, quarterly, bi-quarterly. Robust anti-manipulation system: In order to prevent the phenomenon occurred commonly in the past that some users may manipulate close price in the crypto derivatives market, OKEx has designed a robust anti-manipulation system. (OKEx Options are European options). BTC. For options, the potential gain from buying an option contract is unlimited, but the loss of a buyer is only limited to the premium paid. Contract delivery time. - zhouaini528/okex-php An investor can buy much more with leverage. However, if the price of BTC/USD index is lower than or equal to 6000 USD upon expiry, the holder will not receive a payment. The options instrument went live on 06:00 Jan 9, 2020 (UTC). c) Both the option buyer and seller can choose to close their open position(s) prior to or upon the expiration date. Qualified traders can easily trade options at OKEx from all over the world. The situation with the two is similar to how GDAX is owned by Coinbase– one brand is targeting retail consumers, while the other one is dedicated towards serious traders. Method of Exercise. For example, the underlying asset of Bitcoin options is BTC/USD index. The face values of BTC/USD, ETH/USD and EOS/USD options for pricing purpose are 1 BTC, 1 ETH and 1 EOS respectively while the contract multipliers of them are 0.1, 1 and 100 respectively.