(POLL)We will add monthly options trading wanted feedback concerning strikes

[BitcoinStars.com]

And also how far apart would you like the strikes? Each bet will consist of you making or taking the Over or Under of any strike that interests you. These will be options on the bitcoin price.

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[David M]

Strike at every $US0.25 (I'd accept $US0.50 increments as well), with monthly, quarterly and yearly expiry periods.

For it to be successful, the contract periods need to match as closely as possible payment terms for standard businesses (30, 60 and 90 days).

[BitcoinStars.com]

Strike at every $US0.25 (I'd accept $US0.50 increments as well), with monthly, quarterly and yearly expiry periods.

For it to be successful, the contract periods need to match as closely as possible payment terms for standard businesses (30, 60 and 90 days).

Thank you for the feedback. If we were to do .25 or .50 bitcoin options with the kind of price swings in the market we would have to do more then 10 strikes per month IMO

[David M]

Thank you for the feedback. If we were to do .25 or .50 bitcoin options with the kind of price swings in the market we would have to do more then 10 strikes per month IMO

For me personally, it is not about the number of strikes per month, but the price of the strike.

If you are using options for their original purpose (you have the physically goods/cash and are performing a proper hedge), strike price and expiry date is all that matters.

I could just cope with 50 cent increments, a dollar on the other hand, would place too much risk on my margins...

[BitcoinStars.com]

Thank you for the feedback. If we were to do .25 or .50 bitcoin options with the kind of price swings in the market we would have to do more then 10 strikes per month IMO

For me personally, it is not about the number of strikes per month, but the price of the strike.

If you are using options for their original purpose (you have the physically goods/cash and are performing a proper hedge), strike price and expiry date is all that matters.

I could just cope with 50 cent increments, a dollar on the other hand, would place too much risk on my margins...

Excellent feedback. Leaning towards 10-20 strikes .50 bitcoin spreads and a API of course.

[Vandroiy]

Hm... whatever makes the option market liquid. I guess that would be "don't use too many", but I'm not an expert on this.

There were a few times when I wanted to buy options on Bitcoin, but couldn't. Let's see whether you can change that.

[OgNasty]

Hm... whatever makes the option market liquid.

Bingo.

[Nagle]

Bitcoin option trading won't work without a service willing and able to reliably pay up weeks or months later on losing options. I don't see that happening in the Bitcoin world. The Bitcoin world has enough trouble getting services to reliably pay up on immediate transactions.

[BitcoinStars.com]

Hm... whatever makes the option market liquid. I guess that would be "don't use too many", but I'm not an expert on this.

There were a few times when I wanted to buy options on Bitcoin, but couldn't. Let's see whether you can change that.

Hello thanks for the feedback.In the past 30 days the bitcoin price range has been from over 14 to under 7. That represents over 10 strikes that were in play during that time frame. Having consistantly a strike in play should assist in the overall liquidity that develops when in fact we do open. Also the API should prove helpful.

[BitcoinStars.com]

Bitcoin option trading won't work without a service willing and able to reliably pay up weeks or months later on losing options. I don't see that happening in the Bitcoin world. The Bitcoin world has enough trouble getting services to reliably pay up on immediate transactions.

Hi. We would recommend that you check our setup in the Bitcoin Daily Prices Market so you can see how the market would work for a monthly option. The website will not be involved in any other way then grading final results. If you chose to create or take a wager on a particular option when that option reached it's time of completion it would be graded and you would have the freedom to withdraw your winning wager. There will be no weeks or months of waiting involved. You will never be competing with the website only against other bitcoin members. We hope we clarified that for you.