You can now trade Binance Options on-the-go with the Binance App:
1. Log in to your Binance account and tap [Futures] - [Options]. Please note that you can only trade on Binance Options if you have a Binance Futures account.
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2. Tap the [Transfer] icon on the top right corner and enter the amount of funds (USDT, BUSD, or BNB) you wish to transfer. Tap [Confirm Transfer] and the funds will be transferred from your Spot Wallet to your Futures Wallet.
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3. Binance Options offers three types of orders, [Buy Call], [Buy Put], and [Buy Vol]. If you are bullish on the market, you can [Buy Call], if you are bearish on the market, you can [Buy Put]. If you want to catch the market’s move regardless of direction, you can [Buy Vol]. For more detail about Vol options, please visit our FAQ on Vol Option (Straddle).
You can then choose the expiration date, ranging from 5 minutes, 10 minutes, 30 minutes, 1 hour, 4 hours, 8 hours, 12 hours and 1 day.
Next, choose the order type and enter the quantity you wish to order. Tap [Confirm] to place your order.
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*Target Price
You can choose to set a target price for your contract. Toggle on the button and enter the upper target price. You can see the estimated PNL immediately after you enter the price.
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You can also adjust the Target Price under [Positions] after placing the order.
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4. Once you have placed the order, you can view your position, including unrealized profit and loss, time to expiration, and breakeven price under [Positions]. Your options will be shown on the chart too.
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5. Since Binance Option is American-style options, you can settle the options at the strike price any time before the expiration date. Go to [Positions], tap [Settle] to realize the profit and loss of your options, then tap [Confirm]. If you do not settle the options before the expiration date, it will be automatically settled or exercised upon the expiration date.
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*Extend your options (Available for iOS 2.21.0 and Android 1.32.0 or above)
You can choose to extend the expiry time of a position before its expiration date to increase the potential profit opportunities. You can enjoy a discounted premium compared to buying a new option of the same price with the same expiration date.
To extend your options, tap [Extend] to select the preferred time, and you can see the premium you need to pay for the extension. Tap [Pay to Extend] to confirm. You can then see the updated Premium and Time to Expiration under [Positions] or [Extension History].