Do you trade bitcoin options?

[coingecko]

Hey traders, we are all familiar with the spot market and to some extend the futures market with BitMEX and Binance Futures.
Out of curiosity, do anyone here trade actively in the Options market? There are a couple of exchanges offering options, the popular ones are Deribit, FTX, and Sparrow.

Options are basically those PUTS and CALLS that you can use to hedge your exposure to crypto. Some traders also use it for speculative purposes.

For those of you who are unfamiliar with options, we also have a guide on How to trade Crypto Options in collaboration with FTX.

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[Charles-Tim]

Bitcoin option is not trading. It is gambling. I gambled for years and I lost huge amount of money. Later I focus on trading. I prefer short term or day trading before but the gain was lesser than long term trades that have traded. Later, it just occurred to me that what about me trying binanry optiion, then I went for bitcoin option. I lost bitcoin easily in minutes and hours. So, I decided to leave doing it. I then consider it to be gambling. I have not even failed in day trading the way bitcoin option failed me.

[CryCrptoCry]

Hey traders, we are all familiar with the spot market and to some extend the futures market with BitMEX and Binance Futures.
Out of curiosity, do anyone here trade actively in the Options market? There are a couple of exchanges offering options, the popular ones are Deribit, FTX, and Sparrow.

Options are basically those PUTS and CALLS that you can use to hedge your exposure to crypto. Some traders also use it for speculative purposes.

For those of you who are unfamiliar with options, we also have a guide on How to trade Crypto Options in collaboration with FTX.

Do not ever trade binary options. There are quite a lot reasons in favor of my statement, lets go through one by one:

1)Unfair odds : generally you will get 75-85% in case of winnings which is a straight way downward to the deep pit of loss. No way you can turn that around with any kind of martingale shit. You will be better off playing dice( literally) compare to binary options.

2) very short term trade : Believe me it is very easy to get impulsive in 1-5 minutes high/low trading. Your mind will not be able to make proper rational decisions (though it is very tough to predict the price movement in 5-10 minute period) simply because you will overreact or tilt. Ask any gambler for authentication. You will burn your entire bank roll in very short period for sure.

On the other hand if you can study and train your mind to develop key trading skills you will be far better off.

[sujonali1819]

No, I did not try it with real money. I have some time to try to play with bonuses/free money for practicing. After that, I did not achieve any power to try this Option trade/binary option. It's really very hard to play with little knowledge about it. Only some experienced users with some tools can earn a huge profits from it.  I will suggest the newbie don't try to do it with real money first.

[ryzaadit]

My experience doing a binary option, the problem of technical analysis at the binary option is trade times & entry price. Your prediction could be correct but since you making an option call/put to early before price moves as predicted you lose the option that was created. The other problem "psychology", making you doing a martingale went doing a trade if you have these problem instance doing this on binary option better on gambling platform since gambling has a chance percentage you can win instance trading platform who don't have a chance winning just percentage profit you can make.

If we see from the asset management if your asset was too small for example like only 10-20$ you just donated the money into the platform. The minimum trade is 1$, the good management asset trade under 1%, with the minimum trade you have been created the trade already more than 5% from the asset. Because of that your fund/asset cant handle the management asset went doing a martingale system.

In summary, the problem :
[1] Psychology
[2] Fund Management
[3] Trade Times
[4] Entry Price

[ScamViruS]

Hey traders, we are all familiar with the spot market and to some extend the futures market with BitMEX and Binance Futures.
Out of curiosity, do anyone here trade actively in the Options market? There are a couple of exchanges offering options, the popular ones are Deribit, FTX, and Sparrow.

Options are basically those PUTS and CALLS that you can use to hedge your exposure to crypto. Some traders also use it for speculative purposes.

For those of you who are unfamiliar with options, we also have a guide on How to trade Crypto Options in collaboration with FTX.

I didn't use this option trade. Because I know how much risk lies behind it. I traded binary option for a few years. And the experience I've had is so bad. option trading is like gambling. It's hard to win here. But if you have good knowledge about trading and money management then maybe you can take profit here. So it is for those who are experienced in trading and can control emotions.

[fudster]

Spot is the usual that a regular trader are familiar with but there are some that are quite good at it here in the forum, I've read some of their post which I have to google some terminology to understand what they meant. Binance is the famous exchange which recently did have the options trading enabled, it won't be long till we see more are up to options trading when the newbies are learning.

Anyway, is OP trying to spam his website here?

[coingecko]

We just wanted to get your thoughts on Options and also we happen to have a guide that covers it which might be helpful for those who want to learn about it.

Based on our observation, in the next few months there could be more exchanges looking to launch Options. CME and Bakkt has already done so. Binance Futures did mention an interest to get into that by the end of the year. So we wonder if traders here are looking at it.

In a way it can be seen as gambling if one does not have a strategy in place. Otherwise options can be a good way to add to your strategy for hedging https://www.investopedia.com/articles/optioninvestor/07/affordable-hedging.asp

[joniboini]

It's no surprise that those platform aims to launch another product, especially if they can make tons of money from that. If I remember correctly, one of the platforms that I use in the past put a disclaimer saying that more than 75% of people lost their money on 'trading' option, which is another way to say that the platform gets lots of profits.

Let's hope those exchanges won't limit the option time to only minutes or seconds, that would be full gambling mode.

[coingecko]

It's no surprise that those platform aims to launch another product, especially if they can make tons of money from that. If I remember correctly, one of the platforms that I use in the past put a disclaimer saying that more than 75% of people lost their money on 'trading' option, which is another way to say that the platform gets lots of profits.

Let's hope those exchanges won't limit the option time to only minutes or seconds, that would be full gambling mode.

As far as i know platforms like deribit, sparrow are not into binary options (minutes, seconds) . Most of the options expire by the week, fortnight, or month

[adaseb]

Bitcoin option is not trading. It is gambling. I gambled for years and I lost huge amount of money. Later I focus on trading. I prefer short term or day trading before but the gain was lesser than long term trades that have traded. Later, it just occurred to me that what about me trying binanry optiion, then I went for bitcoin option. I lost bitcoin easily in minutes and hours. So, I decided to leave doing it. I then consider it to be gambling. I have not even failed in day trading the way bitcoin option failed me.

Bitcoin options are not gambling, maybe bitcoin binary options are gambling because those have huge house edges. Vanilla options are different, there is a open market. You can be a maker of these options also.

The reason why they got a bad reputation is because of the amount of people who trade them, have no idea how they work exactly and lose all their money. Bitcoin options aren't really that popular but the stock options that are traded on the NYSE stocks are very popular and many retail traders lose money on them. Why? Well because they don't understand the greeks. And they usually buy the option which expires within a week which has a huge decay. And market makers know there is tons of demand for those overpriced options because the retail market buys them like crazy, and hence they profit off it. If you want to trade any options, don't trade the front month, trade the options which are at least 3+ months away from expiry, they cost more but got less delta decay.

[maydna]

Right now, I don't try with BitMEX again since the situations now become unstable and I don't have much time to analyze the bitcoin market. I prefer to trade as usual because I don't trade daily again. I feel that to trade in that site needs more attention to get the right time to buy and sell bitcoin, and if we miss one second, the price will be changed and we cannot make a profit.

I have experience with BitMex before and in that time, I can trade and watch the price movements, so that helped me to make a huge profit especially in that time, the bitcoin price started to rise so high. But now, it seems, it is better to trade with the other exchange, and only entrance to the bitcoin market when we can feel that is the right time to trade.

You need to have skills to analyze, and not just about to buy and sell only because that will be more than that. You should know, or you can predict where the price will moves so you can see the time to close the trade. But if you want to try, be careful because sometimes what we want cannot become a reality.

[chainback]

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Hey traders, we are all familiar with the spot market and to some extend the futures market with BitMEX and Binance Futures.
Out of curiosity, do anyone here trade actively in the Options market? There are a couple of exchanges offering options, the popular ones are Deribit, FTX, and Sparrow.

Options are basically those PUTS and CALLS that you can use to hedge your exposure to crypto. Some traders also use it for speculative purposes.

For those of you who are unfamiliar with options, we also have a guide on How to trade Crypto Options in collaboration with FTX.

[leowonderful]

I actually did use Deribit for options a while back, though I stopped because it wasn't something I was experienced with and I generally dislike Deribit's format compared to the other sites that are out there for even non-options trading. It's an interesting concept and something that I'd be interested in looking more into in the future, but I'll be sticking to derivatives and futures on sites like Bitmex or Bybit for now.

Deribit also has a pretty detailed guide for trading options on their website if anyone's interested. The link is here (click for link).

[stomachgrowls]

Bitcoin option is not trading. It is gambling. I gambled for years and I lost huge amount of money. Later I focus on trading. I prefer short term or day trading before but the gain was lesser than long term trades that have traded. Later, it just occurred to me that what about me trying binanry optiion, then I went for bitcoin option. I lost bitcoin easily in minutes and hours. So, I decided to leave doing it. I then consider it to be gambling. I have not even failed in day trading the way bitcoin option failed me.

Bitcoin options are not gambling, maybe bitcoin binary options are gambling because those have huge house edges. Vanilla options are different, there is a open market. You can be a maker of these options also.

The reason why they got a bad reputation is because of the amount of people who trade them, have no idea how they work exactly and lose all their money. Bitcoin options aren't really that popular but the stock options that are traded on the NYSE stocks are very popular and many retail traders lose money on them. Why? Well because they don't understand the greeks. And they usually buy the option which expires within a week which has a huge decay. And market makers know there is tons of demand for those overpriced options because the retail market buys them like crazy, and hence they profit off it. If you want to trade any options, don't trade the front month, trade the options which are at least 3+ months away from expiry, they cost more but got less delta decay.

This is indeed story in short those market makers do already spot out on what they would gonna do in case if there are lots of buys or in short they played in for their own benefit as usual.

Most people do really have same impressions or beliefs that bitcoin options is just similar with binary options which you had said above and for those who doesnt have any idea then
you can check this link and know the difference https://www.quora.com/What-is-the-difference-between-options-and-binary-options-in-trading

[gabbie2010]

Bitcoin option is not trading. It is gambling. I gambled for years and I lost huge amount of money. Later I focus on trading. I prefer short term or day trading before but the gain was lesser than long term trades that have traded. Later, it just occurred to me that what about me trying binanry optiion, then I went for bitcoin option. I lost bitcoin easily in minutes and hours. So, I decided to leave doing it. I then consider it to be gambling. I have not even failed in day trading the way bitcoin option failed me.

I quite agree with you on this having been an option trader for time I also lost some bucks while trading that shit which is time based and the odd favours the brokers.
Volatility of the price of Bitcoin will culminates to losing most trades particularly using a short term frame thus overall options is more like gambling a trader wouldn't make profits in a long term rather incur losses.

[rexxarofmoknathal]

I actually did use Deribit for options a while back, though I stopped because it wasn't something I was experienced with and I generally dislike Deribit's format compared to the other sites that are out there for even non-options trading. It's an interesting concept and something that I'd be interested in looking more into in the future, but I'll be sticking to derivatives and futures on sites like Bitmex or Bybit for now.

Deribit also has a pretty detailed guide for trading options on their website if anyone's interested. The link is here (click for link).

Similarly, I have heard of option trading but to be honest I never got around to learning it properly and even after trying it for a little bit it just felt more complicated and in the end I was losing quite a lot more than I was expected. Although, risky I think its something I should perhaps spend more time learning about   

[Vispilio]

I do trade options on Bitcoin, mostly on Deribit, and in general I would say the risk management of these options exchanges can be far more efficient.

There are some nice opportunities, but every derivative exchange I checked required substantial amount of investment held with them to enable portfolio margining, which I wasn't comfortable with tying it up with them, and otherwise every option trade you execute is considered an individual margin trade...