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Binance, one of the leading platforms in the cryptocurrency market, announced that it will launch SOLUSDT Daily and Weekly Options on November 12, 2024, at 11:00 AM (TRT). SOLUSDT options will operate as European-style options contracts, presented to users with specific risk management regulations. These options will position themselves among popular cryptocurrencies like Ethereum and Bitcoin, offering a wide range of choices for users.
Limited Writing Authority in Binance Options
Binance supports the options transactions offered on its platform with a careful risk management approach. In this context, the writing authority for options (creating new options contracts) will only apply to liquidity providers and selected customers who meet certain qualifications. Other users will only be able to buy and sell the options. This limitation is crucial for more effective management of risks on the platform.
Each options contract is listed with a specific symbol format. The contract name includes information about the underlying asset, expiration date, strike price, and option type. For example, “ETH-221230-2000-C” represents an Ethereum call option that expires on December 30, 2022, while “XRP-230331-0.365-P” denotes an XRP put option expiring on March 31, 2023.
Detailed Contract Features and Trading Conditions
In addition to SOLUSDT options, Binance offers options for cryptocurrencies such as ETH, BTC, BNB, XRP, and DOGE on its platform. Each of these options has a European-style structure, which can only be exercised at expiration. Users can conduct trades in cash settlement using USDT, taking advantage of price fluctuations. The platform operates 24/7, with minimum price changes and trading steps structured according to specific rules. For instance, the minimum price change is set at 0.01 for SOL and XRP, while it is 5 for BTC.
Contract features include the amount of the underlying asset each contract represents; for instance, 1 unit for Ethereum (ETH) 
$2,516, Bitcoin (BTC) 
$104,785, and BNB (BNB), 100 units for XRP, and 1000 units for DOGE. Additionally, the market value of each contract is calculated using mathematical methods like the Black-Scholes model and tracked in real-time by the platform. The volatility rates used in this model are derived from the best buy-sell prices in the market and may be subject to limitations under extraordinary market conditions.
Furthermore, Binance offers users flexible trading opportunities by adding new options with expiration dates every Thursday at 11:00 AM (TRT). This allows investors to diversify their positions through regularly updated and newly added contracts.
