Hedge your portfolio or speculate on volatility with European-style BTC and ETH options. Transparent on-chain settlement, competitive premiums, and weekly to quarterly expiries.
Options give you the right, but not the obligation, to buy or sell an asset at a predetermined price before expiry.
A call option gives you the right to buy BTC or ETH at a fixed strike price before the expiry date. You profit when the asset price rises above your strike price plus the premium paid.
A put option gives you the right to sell BTC or ETH at a fixed strike price before expiry. You profit when the asset price falls below your strike price minus the premium paid.
Weekly, bi-weekly, monthly and quarterly expiry cycles. All options settle in USDT at 08:00 UTC on the expiry date.
All option contracts are settled transparently on-chain. Full verifiability of exercise and settlement calculations.
Real-time Delta, Gamma, Theta, Vega, and IV displayed for every contract. Advanced analytics for professional traders.
Offset risk across your options positions. Combined margin reduces capital requirements for hedged strategies.
Competitive pricing powered by professional market makers. Tight bid-ask spreads across all strikes and expiries.
Sub-second order matching with a dedicated options order book. No slippage on standard contract sizes.
Full API support for automated options strategies. WebSocket feeds for real-time Greeks, IV surface, and order book data.
Options trading involves significant risk. Buyers risk losing the entire premium paid. Writers (sellers) face potentially unlimited losses on naked call positions. Options are complex instruments that require understanding of time decay, implied volatility, and the Greeks.
Ensure you fully understand how options work before trading. This information is for educational purposes and does not constitute financial advice. Only trade with capital you can afford to lose.
Live bids, asks, IV and open interest across both sides of the book. Mid-mark highlighted, ITM rows shaded.
Snapshot — prices update every 500 ms in the Pro terminal. Deribit-style USD-settled options.
From simple directional bets to range-bound income — six strategies ready to paper-trade in one click.
Bullish — profit from upside with limited downside (premium paid).
Bearish — profit from downside; capped loss equal to premium paid.
Income — own the underlying, sell upside. Collect premium in flat markets.
Hedge — own the asset, buy a put as insurance against a crash.
Limited-risk bullish — buy lower strike, sell higher. Caps both sides.
Range-bound — sell OTM put + call spread. Profits if price stays inside.
Five numbers that describe how every option moves. Know them, and you'll never be surprised by a P&L swing.
How much the option price moves per $1 move in the underlying. Direction exposure.
How fast delta changes. High gamma = rapid P&L acceleration near the strike.
Daily value lost to time decay. The cost of holding an option overnight.
Sensitivity to a 1-point change in implied volatility. IV collapses wreck Vega-long trades.
Sensitivity to a 1% change in risk-free rate. Usually the smallest Greek in crypto.
Access BTC and ETH options with transparent on-chain settlement, competitive premiums, and flexible expiries.