ETH/USD Options Now Live on OKEx, EOS/USD to Follow on June 18

The cryptocurrency spot and derivatives exchange giant, OKEx has announced the inclusion of two new options trading instruments. The first one, ETH/USD options went live on June 4, and it will soon be followed by EOS/USD options on June 18. These two offerings will now join the already popular BTC/USD options on OKEx, which has registered an average daily transaction volume of over $10 million.

Along with the launch of ETH/USD options, OKEx has also taken steps to minimize the risk of clawback by donating 1000ETH to ETH/USD Options insurance fund.  Announcing the expansion of the company’s options trading portfolio, the CEO of OKEx, Jay Hao said,

“The launch of the ETH/USD options provides our users with more trading tools to fulfill their needs of executing different trading strategies. Based on the success of the OKEx BTC/USD options, we are confident to bring users a better options trading experience…OKEx will never stop innovating our products and provide users with one-stop trading services. For example, EOS/USD options will open soon on OKEx. Stay tuned!”

OKEx is among the top options trading platforms in the crypto industry. It implements a sophisticated risk management system that includes Mark Price, Daily Settlement and Short Qualification to safeguard the interests of traders on the platform. It uses the Black model to determine mark price on a real-time basis, and the final settlement price is generated by a time-weighted average of the underlying price over a period of time before the option expires.

Traders on OKEx can now use ETH/USD options trading to hedge the risk from spot exchanges as options allow them to purchase put options and make a profit even when the price falls, which is not possible on spot trading. At any time, if the price of an asset falls, spot traders have to either continue holding on to it or close their positions to reduce losses, whereas options offer an opportunity to make a profit even under those circumstances.

If Mr. Hao’s comment is any indication, then there are more options trading instruments under development, and OKEx may launch them in the coming months. Even otherwise, the platform may decide to launch some other new product to further consolidate its position as a leading financial platform in the crypto industry.

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Source: Newsbtc

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