[ANN] Sparrow | Leading options trading platform powered by smart contracts

[puremage111]

Alright so we have 2 things there

TradeProtect and TradeBoost
Hope i get this right

TradeProtect
If i make a call option at $220 per Ethereum, current Ethereum price is $200, within the expiry date, if the Settlement price is $230, i will earn $10 per Ethereum contract right?

How about TradeBoost?
I don't get how tradeboost work here
It allows us to sell an OTM Options, and why are we getting paid the premium here instead of paying the premium?
Lets say current price for Ethereum is $200
I put the strike price at $220, it allow me "Obligation to sell at $220"
So i am currently having a call/put options here?
Shouldn't putting a strike price above spot price "an Obligation to buy at $220"?

EDIT: Oh, hope i get this right
For TradeBoost, instead of being the options buyer. I am now the options seller?


Kindly help, thanks

Hi puremage111,

Thanks for your interest!

You’re right, TradePROTECT = buying options by paying a premium (can be buy call or buy put) while TradeBOOST = selling options and collecting a premium  (can be sell call or sell put)

For your TradeBOOST scenario, where you put strike price at $220 when the current ETH price is at $200. It is a sell call position – meaning you are bearish and think the price will not exceed $220.

You get an instant premium from being an options seller - If it goes above $220, then your option will be exercised, otherwise it will expire worthless. Of course as a seller, you will hope that they expire worthless so that you can profit from the premium.



Hope this helps! Do join us on our Telegram chat: https://t.me/SparrowExchange - Our team and communities are active there where we often share options trading tips and strategies. Feel free to ask us any questions there! 

Alright thanks for the help
So for Sell Call/Sell put options

Lets say current price is $200, Strike price is $220, Settlement Date is 1 week Later
So For Day 2, if spot price touch and hit above $220, the options is closed straightaway?
Or it will depends on the final price during the settlement Date?
Thanks

Another Scenario (For TradeBoost)
Ethereum Current price $200, if i set the strike price at $180, this will be a sell put options right?
Hence if i wanted to profit from this, i will hope that the price of Ethereum never hits $180 or else my options is close?

Thanks

1. It will depend on the final price during settlement day. Sparrow Options are European Options - meaning options will only be settled on settlement day

2. Thats right! For sell put, you are kinda betting market will go up - so if strike is 180, your stance is that eth price will not go lower than 180. If it goes below 180 then the option will be exercised


Do make sure to not set your strike price too far away from the current price though, to ensure your order gets filled - so far on Sparrow, more than 90% of orders get filled  😉

Alright thanks for the help!
For the part
"Ensure your order get filled", whos buying into my Options if i were to sell one?
Is it filled automated by algorithms? Or i need to ask people to buy the Sell Put/Call Options from me?

Thanks

[Sparrow Exchange]

Alright so we have 2 things there

TradeProtect and TradeBoost
Hope i get this right

TradeProtect
If i make a call option at $220 per Ethereum, current Ethereum price is $200, within the expiry date, if the Settlement price is $230, i will earn $10 per Ethereum contract right?

How about TradeBoost?
I don't get how tradeboost work here
It allows us to sell an OTM Options, and why are we getting paid the premium here instead of paying the premium?
Lets say current price for Ethereum is $200
I put the strike price at $220, it allow me "Obligation to sell at $220"
So i am currently having a call/put options here?
Shouldn't putting a strike price above spot price "an Obligation to buy at $220"?

EDIT: Oh, hope i get this right
For TradeBoost, instead of being the options buyer. I am now the options seller?


Kindly help, thanks

Hi puremage111,

Thanks for your interest!

You’re right, TradePROTECT = buying options by paying a premium (can be buy call or buy put) while TradeBOOST = selling options and collecting a premium  (can be sell call or sell put)

For your TradeBOOST scenario, where you put strike price at $220 when the current ETH price is at $200. It is a sell call position – meaning you are bearish and think the price will not exceed $220.

You get an instant premium from being an options seller - If it goes above $220, then your option will be exercised, otherwise it will expire worthless. Of course as a seller, you will hope that they expire worthless so that you can profit from the premium.



Hope this helps! Do join us on our Telegram chat: https://t.me/SparrowExchange - Our team and communities are active there where we often share options trading tips and strategies. Feel free to ask us any questions there! 

Alright thanks for the help
So for Sell Call/Sell put options

Lets say current price is $200, Strike price is $220, Settlement Date is 1 week Later
So For Day 2, if spot price touch and hit above $220, the options is closed straightaway?
Or it will depends on the final price during the settlement Date?
Thanks

Another Scenario (For TradeBoost)
Ethereum Current price $200, if i set the strike price at $180, this will be a sell put options right?
Hence if i wanted to profit from this, i will hope that the price of Ethereum never hits $180 or else my options is close?

Thanks

1. It will depend on the final price during settlement day. Sparrow Options are European Options - meaning options will only be settled on settlement day

2. Thats right! For sell put, you are kinda betting market will go up - so if strike is 180, your stance is that eth price will not go lower than 180. If it goes below 180 then the option will be exercised


Do make sure to not set your strike price too far away from the current price though, to ensure your order gets filled - so far on Sparrow, more than 90% of orders get filled  😉

Alright thanks for the help!
For the part
"Ensure your order get filled", whos buying into my Options if i were to sell one?
Is it filled automated by algorithms? Or i need to ask people to buy the Sell Put/Call Options from me?

Thanks

No problem at all! All orders will go into the order book, which may be picked up by a counterparty - could be another user, or one of our market makers

[vennali]

[vennali]

[vennali]

Check out our latest Sparrow Digest to know what have we been upto in the busy and fruitful 2 months since our official launch.
https://medium.com/sparrowexchange/sparrow-digest-7-f13fac185a8

[kissubaby]

Check out our latest Sparrow Digest to know what have we been upto in the busy and fruitful 2 months since our official launch.
https://medium.com/sparrowexchange/sparrow-digest-7-f13fac185a8

Great!  A lot of updates!
The Platform UI/UX has been an awesome experience!

[vennali]

Trade and Share 300,000 SPO!

From today, 4pm (GMT+8) to 16 August, 6pm (GMT+8),  be the top 50 traders (by total trading volume) and stand a chance to win SPO.

🏆Top 1–5: Share 100,000 SPO
🏆Top 6–20: Share 100,000 SPO
🏆Top 21–50: Share 100,000 SPO

Sure win bonus: Anyone not in the top 50 list who trades at least 1 ETH worth of options gets 50 SPO each

Learn more:HERE

[vennali]

Check out our latest Sparrow Digest to know what have we been upto in the busy and fruitful 2 months since our official launch.
https://medium.com/sparrowexchange/sparrow-digest-7-f13fac185a8

Great!  A lot of updates!
The Platform UI/UX has been an awesome experience!

We appreciate your feedback. Do check out the contest that we are running currently.

Started on 5th August(GMT+8) and upto 16th August, 6pm (GMT+8),  be the top 50 traders (by total trading volume) and stand a chance to win SPO.

🏆Top 1–5: Share 100,000 SPO
🏆Top 6–20: Share 100,000 SPO
🏆Top 21–50: Share 100,000 SPO.

You can find more about it by clicking HERE

[iHaveDreams]

Check out our latest Sparrow Digest to know what have we been upto in the busy and fruitful 2 months since our official launch.
https://medium.com/sparrowexchange/sparrow-digest-7-f13fac185a8

Great!  A lot of updates!
The Platform UI/UX has been an awesome experience!

We appreciate your feedback. Do check out the contest that we are running currently.

Started on 5th August(GMT+8) and upto 16th August, 6pm (GMT+8),  be the top 50 traders (by total trading volume) and stand a chance to win SPO.

🏆Top 1–5: Share 100,000 SPO
🏆Top 6–20: Share 100,000 SPO
🏆Top 21–50: Share 100,000 SPO.

You can find more about it by clicking HERE

it is very difficult to win this because many rivals have lots of money to trade, I am only a small investor, but I will try it, hopefully this will be my advantage

[Sparrow Exchange]

Check out our latest Sparrow Digest to know what have we been upto in the busy and fruitful 2 months since our official launch.
https://medium.com/sparrowexchange/sparrow-digest-7-f13fac185a8

Great!  A lot of updates!
The Platform UI/UX has been an awesome experience!

We appreciate your feedback. Do check out the contest that we are running currently.

Started on 5th August(GMT+8) and upto 16th August, 6pm (GMT+8),  be the top 50 traders (by total trading volume) and stand a chance to win SPO.

🏆Top 1–5: Share 100,000 SPO
🏆Top 6–20: Share 100,000 SPO
🏆Top 21–50: Share 100,000 SPO.

You can find more about it by clicking HERE

it is very difficult to win this because many rivals have lots of money to trade, I am only a small investor, but I will try it, hopefully this will be my advantage

Hi IHaveDreams!

Thanks for your support and interest! Not to worry, even if you did not manage to be in the top 50, we have a sure-win bonus for anyone who trade at least 1 ETH worth of options!

That is quite easy to hit - you can make a sell call/put for ETH, by pledging 1 ETH for a week, get an instant premium and your ETH back by setting a strike price far behind which ensures your trade does not get exercised

If you need help, feel free to chat with us on telegram! https://t.me/SparrowExchange

[vennali]

Did you know that we offer versatile options trading tools for both beginners and professionals?

 Learn more by clicking HERE

[vennali]

“We are proud to have passed CertiK’s rigorous formal verification audit. With customer protection as our top priority, Sparrow is committed to keeping our platform safe, secure and compliant to global standards.”
 
- Kenneth Yeo, CEO of Sparrow
 
Click here for article.

[vennali]

Check out our guide to trading on Sparrow

• Part 1: Registration and account verification
• Part 2: Topping up your account
• Part 3: Making your first trade

[gettingrektallthetime]

Nice! Fantastic experience trading on Sparrow so far. Love selling options for weekly premium.


Some of my recent trades, check out the juicy premiums  https://imgur.com/2IvSDWn

[vennali]

Nice! Fantastic experience trading on Sparrow so far. Love selling options for weekly premium.


Some of my recent trades, check out the juicy premiums 

Happy that you are enjoying your time at Sparrow. Do check out our Medium as well as telegram channel to find out more about us. Links are in my signature as well as the OP.

[gettingrektallthetime]

Saw these sharings on Sparrow's telegram group! Some interesting insights to share on options trading stats.



- Sparrow latest trading statistics: https://docsend.com/view/va5vyan

- Sparrow by the numbers: https://docsend.com/view/h8uy86c

- Black-Scholes vs Real World: Volatility fluctuations across strike prices: https://docsend.com/view/jkq3bey

- Sparrow vs Deribit index computations: https://docsend.com/view/pm6vcpk


*As at August 2019

[vennali]

i just saw you have a great project, do you have any bounty or referral program?
best of luck.

Hey there! We are working on building a referral program but we do have a bounty program. Please come and join us on telegram and other socialmedia platforms. Most importantly, do check out our platform and convert that volatility into your advantage using options trading. 

All the necessary links are in the OP or you could check them in my signature.

[phanhau608]

I am waiting for a reward from Sparrow of Bounty to trade. So long time!

[vennali]

I am waiting for a reward from Sparrow of Bounty to trade. So long time!

Hey There!
For all bounty related queries, please contact our Bounty Manager Arteezy at the Telegram bounty group chat.
We will respond all queries and provide updates from there. Thank you.

[Sparrow Exchange]

Sparrow and Horangi collaborate to reinforce platform security



Sparrow is excited to announce our collaboration with Horangi, leading cybersecurity firm in Asia, to strengthen platform security.

At Sparrow, we strive for the highest security standards and constantly promote better security practices. Recently, we successfully completed CertiK’s rigorous platform audit.

Continuing our rigorous security testing regime, Sparrow engaged Horangi to conduct a penetration test on our web application.

Learn more: https://medium.com/sparrowexchange/sparrow-and-horangi-collaborate-to-reinforce-platform-security-14982e1c2388