OKEx, the second largest cryptomoney options trading platform after Deribit, is expanding its options trading types.
Starting July 24th, OKEx presents new opportunities for options trading in cryptomon currencies including daily options, two-day options and monthly options.
OKEx now features seven expiration dates for options
In announcing the news on Friday, OKEx said that the three new expiration dates follow the previously released weekly, bi-weekly, quarterly, and semi-annual options.
OKEx cryptomoney exchange to launch option trading this month
The new options are intended to promote market liquidity and provide more options for executing various trading strategies. The introduction of shorter expiration dates also aims to lower the threshold for option trading, allowing traders to participate with smaller funds, OKEx said.
Three trading pairs for new option contracts
According to a preliminary announcement on 23 July, the new options contracts will apply to three trading pairs such as Bitcoin (BTC)/USD, Ether (ETH)/USD and EOS/USD. The first one-day option contracts and two-day contracts will expire on 25 and 26 July respectively. The first monthly options on OKEx are subject to the August 28 expiration date, the exchange said.
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OKEx CEO Jay Hao noted that the exchange has focused on diversifying products on the platform. According to the executive, the existing range of services „is still far from sufficient“. Hao said:
„OKEx is a unique trading platform, which suits users of all levels, from beginners to institutions and professional traders […] We will not miss the opportunity to continue optimizing our entire product line.
Cointelegraph contacted OKEx with additional questions and will update the article pending any new information.
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OKEx actively driving the derivatives market
OKEx, one of the world’s largest exchanges of crypto-currencies by daily trading volume, originally introduced crypto-currency options trading in late 2019. The Iq Option has managed to outperform some major platforms for Kryptonex options trading, including ICE’s Bakkt, as well as one of the first Bitcoin futures providers, the Chicago Mercantile Exchange, or CME Group.
According to data from the Skew cryptomoney statistics website, OKEx is the second largest volume of cryptomoney trading by volume of BTC options after Deribit’s exchange so far. The weekly translation volume of OKEx BTC/USD options now represents USD 40 million, according to the exchange.
OKEx has been actively driving the crypto derivatives market. In June 2020, the platform launched the trading of Ether and EOS option contracts. Earlier this year, the exchange added quarterly contracts for options and futures trading.