OKEx, the Malta-based cryptocurrency exchange, now features daily, two-day, and monthly options trading for BTC/USD, ETH/USD, and EOS/USD.
On July 24, it has been reported that OKEx said the three new expiration dates follow previously launched weekly, bi-weekly, quarterly, and bi-quarterly options.
However, the new options intend to promote market liquidity and provide more choices to execute various trading strategies.
PRODUCT UPGRADE ✨: @OKEx expiration rules of #Options contract ($BTC/$ETH/$EOS) has been extended to one-day, two-day, weekly, biweekly, monthly, quarterly, and bi-quarterly.#Announcement View details ▶️ https://t.co/9rumkROXS7 pic.twitter.com/DOo0GhP8Nv — OKEx (@OKEx) July 24, 2020
OKEx said that the introduction of shorter expiration dates also aims to lower the threshold for options trading, enabling traders to participate with smaller funds.
According to a prior announcement on July 23, the new option contracts will be applied to three trading pairs like Bitcoin (BTC)/USD, Ether (ETH)/USD, and EOS/USD, as the first one-day option contracts and two-day contracts will expire on July 25 and July 26, respectively.
The exchange noted that the first monthly options on OKEx are subject to the expiration date of August 28.
The world’s second largest crypto options trading platform @OKEx expands its #options contracts with daily, two-day, and monthly options https://t.co/SyMrNFYN9i — Cointelegraph (@Cointelegraph) July 24, 2020
Jay Hao, the CEO of OKEx, highlighted that the exchange has been focused on diversifying products on the platform. According to him, the existing array of services is “still far from enough.”
Hao said:
“OKEx is a one-stop trading platform, accommodating users of all levels from entry-level to institutions and professional traders […] We will not give up the opportunity to continue optimizing our entire product line.”
Thus, the exchange said that weekly translation volume of OKEx’s BTC/USD options now account for $40 million.
Source: Cointelegraph | Image: CoinCodex