Dear valued customers,
We are pleased to announce that BTCUSD Options trading is officially live on the OKX website and API from 06:00 Jan 9, 2020 (UTC).
Specifications:
|
Feature |
Detail |
|
Underlying |
BTC/USD Index |
|
Contract Type |
Call and put options |
|
Contract Multiplier |
0.1 |
|
Lot size |
1 |
|
Quote Coin |
BTC |
|
Settlement Coin |
BTC |
|
Tick Size |
0.0005 BTC |
|
Exercise Style |
European; In-the-Money (ITM) options will be automatically exercised and settled at expiration |
|
Mark Price |
Determined by OKX using the Black model on a real-time basis |
|
Creation Time |
Normally half an hour after futures contracts with the same expiry date are opened |
|
Expiry Time |
08:00 (UTC), Friday of the expiry week |
|
Method of Exercise |
Cash Settled in BTC |
|
Final settlement Price |
Time-weighted average of the underlying price over a period of time before the option expiries |
|
Strike Price |
OKX will generate a series of reasonable strike prices based on market conditions before launching options contracts with new expiration. Also, new strike prices will be generated as the market condition evolves. |
|
Exercise Payoff per Contract |
Call options: Max {(final settlement price – strike price), 0}*contract multiplier, in USD. Upon settlement, USD payoff will be converted into BTC at the final settlement price. Put options: Max {(strike price – final settlement price), 0}*contract multiplier, in USD. Upon settlement, USD payoff will be converted into BTC at the final settlement price. |
OKX BTCUSD options adopt a sophisticated risk management system which includes mark price rule, daily settlement rule, and Short Qualification rule. In the future, OKX will launch portfolio margin products to further improve customers’ capital efficiency.
In order to minimize the risk of clawback, OKX has already donated 150 BTC to the BTCUSD Options insurance fund.
Should you have any questions regarding BTCUSD options trading, please refer to OKX Coin-margined Options User Agreement & Guide for more details or contact our customer support for inquiries.
Thank you for your support and we assure you our best services at all times.
Regards,
OKX
Jan 9, 2020 (UTC)
