Binance Options Adds Vol Option Function on the Mobile App

Binance Options has added Vol Option Function on the Binance Mobile App. In order to have access to the Vol Option, please ensure you have updated to the latest version of Binance app: iOS App 2.20.0 or Android App 1.31.0

Vol Option is the third option feature available on Binance Options. A Vol option is also called a Straddle, a neutral options strategy that involves simultaneously buying both a put option and a call option of an underlying asset, with the same strike price and expiry date. By buying a Vol option, the user is able to catch the market’s move regardless of direction. Users can have the opportunity to gain unlimited profits as long as the underlying asset moves sharply above the breakeven point, and the maximum loss would be the premium paid for the options.

Please refer to the guide Vol Option in our support centre for more detail

The premium is first deducted from the futures wallet balance, and only after profit is calculated. In rare cases, this deduction may cause the futures position to enter liquidation. Before placing an options order, please ensure that you have adequate free margin in your futures wallet balance. Remember that to make a net profit on an options trade, the profit must be larger than the premium. Profit will be anything from 0 to infinity, and premium is a fixed value paid at start. Thus options have fixed downside cost paid upfront and unlimited upside. Net profit for your options trade is profit - premium.

All trades are executed on the market at market price. There is no guarantee that the price you see on screen will be the exact price that you execute at, although it will generally be very close. Small orders, or orders executing during 'normal' market behavior, will always be nearly exact, but large orders, or orders that execute during 'volatile' market behavior, may deviate somewhat based on order execution.

There is no guarantee that your options purchase will execute at a profit after the premium has been deducted. Most options purchases will not be profitable, but a minority will be very profitable. Please use it at your own discretion.

Thanks for your support!

Binance Team

2020/10/21

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