Top crypto exchange Binance has hinted that it plans to launch Bitcoin (BTC) options trading.
Two tweets — via the exchange’s official handle and CEO Changpeng Zhao (“CZ”) — posted on April 3 revealed “testflight leaks” and a screenshot of an apparent prototype for trading BTC/Tether (USDT) options contracts:
Source: @cz_binance official Twitter handle, April 3
“Notice anything new”?
Binance’s performative social media “leak” revealed options trading support as one of the items on a “what to test” list, which included other products that have previously been officially announced, such as the Binance Card issued by Visa.
As a popular derivative that enables traders to hedge against asset price swings in either direction, an options contract offers the chance to purchase either a right to buy (a call option) or sell (a put option) a given asset at a specified “strike price.” This strike price is determined on or before the contract’s expiration date.
In response to a request from Cointelegraph, a spokesperson from Binance declined to comment.
Bitcoin options rolling out in 2019–2020
Published at Fri, 03 Apr 2020 10:33:00 +0000