Binance Options Launching BNBUSDT Daily Options: All You Need to Know

04/24/2023 05:18 • Blockchain Briefs • 73 views

On April 24th, according to official announcements, Binance Options will launch BNBUSDT Daily Options, a European option contract, at 16:00 Beijing time on April 25th. Afterwards, BNBUSDT daily options will be listed at 08:00 (UTC) every day. If another BNBUSDT weekly, monthly, or quarterly option contract expires on the same day, no new BNBUSDT daily options will be listed. The trading validity period of BNBUSDT daily options is two days and the expiration time is 08:00 (UTC).

Binance Options to Launch BNBUSDT Daily Options

Are you following the latest developments in the world of cryptocurrency? Are you interested in trading options on Binance? Then prepare yourself for a new launch. According to official announcements, Binance Options will launch BNBUSDT Daily Options on April 24th at 16:00 Beijing time. Here is everything you need to know about this new option contract.

What are Binance Options?

Binance Options is a platform where traders can buy and sell options, which are contracts providing the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date.

What are BNBUSDT Daily Options?

BNBUSDT Daily Options are European style options that expire at 08:00 (UTC) every day. This option allows traders to bet on the potential changes in the price of Binance’s native cryptocurrency, Binance Coin (BNB), against Tether (USDT).

Trading Validity Period

The trading validity period of BNBUSDT Daily Options extends to two days, giving traders enough time to execute their trading strategies. After the expiration of the two days, the option contract becomes useless.

Time Limit

BNBUSDT Daily Options are listed at 08:00 (UTC) every day. It is important to note that new daily options will not be listed on days when BNBUSDT weekly, monthly, or quarterly contracts expire.

How Do BNBUSDT Daily Options Work?

For traders interested in buying BNBUSDT Daily Options, the contract provides an opportunity to bet on the future price of BNB against USDT at a specific date (the expiration date). Once the buyer purchases the option, they have the opportunity to either exercise the option or let it expire. If the buyer decides to exercise the option, they purchase BNB at the agreed-upon price, and if they decide to let it expire, they lose their premium.

Conclusion

The launch of BNBUSDT Daily Options is an important milestone for cryptocurrency traders. Traders will now have an opportunity to hedge their investments against the potential price movements of Binance Coin (BNB) against Tether (USDT). This new option contract has the potential to open up new opportunities for traders looking to capitalize on market volatility.

FAQs

Q1. What is the significance of Binance Options in cryptocurrencies?

Binance Options is a platform to buy and sell derivatives trading products. It offers traders the opportunity to trade options on various cryptocurrencies. With the launch of BNBUSDT Daily Options, traders can now hedge their investments against potential price changes in Binance Coin.

Q2. What is an option in trading?

An option is a financial instrument that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a certain date.

Q3. Can I trade BNBUSDT options on any other platform apart from Binance?

No, the BNBUSDT Daily Options can only be traded on the Binance Options platform.
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