If you are new to cryptocurrency options, we sincerely recommend that you learn some basics about cryptocurrency and options before starting trading.
There are two versions of CoinCall’s options trading interface. A Pro version for professional options traders and a Lite version that offers a simplified interface and process for options beginners.
This article will give you a detailed introduction to the composition of the trading page of the pro version of options to help you better start trading.
The options trading page consists of many sections, the following is an overview of the trading page:
Section 1: Account Overview
The account overview is located at the top of the transaction page. Once you enter the transaction page, you will see your account data, including total account assets (calculated in USD equivalent), Equity, Available balance, Margin balance, Unrealized profit and loss, and initial margin, Maintenance margin.
The upper right of this section shows the initial margin rate and maintenance margin rate of the account for you.
Section 2: Candlestick chart
The upper part shows the real-time mark price, index price, 24-hour highest and lowest transaction price, and 24-hour transaction volume.
The middle part is the candlestick chart, which revolves around the four data of the opening price, the highest price, the lowest price, and the closing price, reflecting the general market situation and price information. The time can be switched under the chart, and you can adjust the time span of the candle line according to your own needs.
Section 3: Order Book and Trades
The order book displays the Bid and Ask orders for the options you selected, including the pending order volume and Bid and Ask prices. Below the order book, you will find the latest transaction records.
Tip: Bid and ask columns display the prices at which market participants are willing to buy or sell options contracts.
Section 4: Trading Area
The trading range is located on the far right side of the transaction page and consists of three parts.
The upper part is the detailed information of the option contract that you will trade, including Option name, price fluctuation, leverage, 24h turnover, 24h volume, strike price, expiry date, implied volatility, type, and Greeks, etc.
The middle part is the "trading area" where you can place orders. Users can choose the order type, price, and amount of the transaction. The cost and the balance in your account will be displayed below the buy and sell buttons.
According to the order information entered by you, the price calculator at the bottom can help you calculate the theoretical price and the difference under different underlying prices and implied volatility.
Taking the data in the screenshot as an example, you buy 1 BTC option contract "BTC-28APR23-30000-C" at a price of $1,300
The option contract you chose is "BTC-28APR23-30000-C", which means a BTC call option with a strike price of $30,000 expiring on April 28, 2023.
If you buy an option contract of 1 BTC at a price of $1,300, the required margin is $1,300, and if you sell an option contract of 1 BTC at a price of $1,300, the required margin is $5,830.4.
Let's look at the price calculator, assuming the underlying price at expiration is $35,000:
The theoretical price of 5,000 means that when the option is exercised on the expiry date since the Underlying price is 35,000 USD, you can buy a BTC futures contract at a price of 30,000 USD, then theoretically you will make a profit of 35,000-30,000=5,000 USD.
The difference from the current price of 274.63% means that if the Underlying price reaches 35,000 USD on the expiry date, then the profit rate at this time may reach 274.63%. (the theoretical price is 5000 USD - the order price of 1300 USD) / order price of $1300 = 274.63%
Below the theoretical price is the data of the calculated delta and other Greeks.
Finally, the price calculator will also calculate for you the rate of return of your options at different underlying prices. For example:
When the underlying price on the expiry date is 31334.64 USD, after you exercise the option at this time, you will reach breakeven. Once the underlying price is higher than 31334.64 USD, your position will start to make a profit. When the target price rises to 32000 USD, your rate of return is 50%. and so on.
Section 5: Options chain
The Options chain is one of the most important sections of options, it displays market information of options contracts, including Underlying price, Strike price, Mark price, Greeks, Trading volume, Leverage, Ask/Bid Size, Ask/Bid Price, etc.
In the Options chain, the call option is displayed on the left, the put option is displayed on the right side, and the strike price is displayed in the middle.
Both call and put options can be traded, and the selling information corresponding to different strike prices shows the price at which market participants are willing to buy or sell options contracts. Here you can choose the option product you want to buy/sell.
Look at the BTC-28APR23-30000-C:
Select the expiry date "28 APR 23" at the top, and find 30,000 in the strike price. At this time, this row displays the specific information of the option contract. You can decide your own trading strategy based on the market information on the Options chain.
Section 6: Position Overview
The Position Overview displays detailed information about your positions, including Position Summary, Expiration Date, Greeks, Position, Open Orders, Order History, Trade History Funding, and Delivery.
“Positions” will display the following information about your position: contract name, side, amount, entry price, mark price, ELP, profit and loss (return rate), initial margin, maintenance margin, Delta, Gamma, Vega, Theta, and Rho.
Before the option expires, you can go to the far right area to close the position. Here we provide two trading methods: Market All and Limit.
"Market All" means that you will sell/buy all the options at the market price.
To close a position at a limit price, you need to enter the price you want to buy/sell the option in "Price", enter the number of options you want to buy/sell in "amount", and click the "Limit" button. The system will execute the closing for you.
The Open order will show you the specific information of the order that has not yet been filled. If you want to cancel the order, you can click “Cancel” on the far right to complete it.
The transaction records can be queried in "Orders History" and "Trade History ". The Funding shows you the breakdown of fees for each order. The details of the option exercise can be viewed in "Delivery".
This is the introduction to the option trading page. Hope to help you better start options trading.