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Author Topic: FTX BTC options ???  (Read 81 times)
somac.
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February 13, 2021, 12:28:50 AM
Last edit: February 13, 2021, 12:44:50 AM by somac.
Merited by vapourminer (1)
 #1

Does anyone know if FTX has BTC options? some websites say they do but I can't see anything in their platform  Huh

EDIT: I think I found it under what is the stupidist designed menu I have seen. That menu being the 4 squares next to the FTX log in the top left corner. That is some shitty UX design right there, a hamburger menu would have even been better, and they are kind of shit too.

I've only partly found it though, I can't see in options tables with strike prices etc, does anyone know where they are?
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February 13, 2021, 02:51:13 PM
Merited by somac. (3), vapourminer (1)
 #2

I've only partly found it though, I can't see in options tables with strike prices etc, does anyone know where they are?

Are you talking about the order book? Well, you won't find it like that on FTX. FTX Options don't work on orderbook model, instead they work on 'Request for Quote' (RFQ) model. So, you will see something like the following image on Options page:



You can click 'Request Quote' and place your order. You can manually customize your order - Put/Call, Strike Price, Expiry Date, Limit Price and Buy/Sell. Then, your request will go under 'My Request' section and within few seconds, you will start seeing quotes from the other users under 'Best Quote (per contract)' column. It's up to you if you want to accept those quotes or let them go.

For example, If I place request for the Buy Call Option of 1 BTC at the strike price of $48K for tomorrow midnight, I will start receiving quotes after few seconds under 'My Request' section. Suppose, I get the quote of $400. I can accept that and have to pay $400 for the option upfront. Then, if bitcoin goes above $48,400 at the midnight tomorrow, I will end up in profit otherwise I will bear the loss (could be between $1-400).

Alternatively, you can make quotes for the requests others have placed under 'All Requests' section if you see any. But note- you will play opposite party as to 'Option Type', consider that while making quote.

somac.
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February 14, 2021, 04:31:15 AM
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I've only partly found it though, I can't see in options tables with strike prices etc, does anyone know where they are?

Are you talking about the order book? Well, you won't find it like that on FTX. FTX Options don't work on orderbook model, instead they work on 'Request for Quote' (RFQ) model. So, you will see something like the following image on Options page:



You can click 'Request Quote' and place your order. You can manually customize your order - Put/Call, Strike Price, Expiry Date, Limit Price and Buy/Sell. Then, your request will go under 'My Request' section and within few seconds, you will start seeing quotes from the other users under 'Best Quote (per contract)' column. It's up to you if you want to accept those quotes or let them go.

For example, If I place request for the Buy Call Option of 1 BTC at the strike price of $48K for tomorrow midnight, I will start receiving quotes after few seconds under 'My Request' section. Suppose, I get the quote of $400. I can accept that and have to pay $400 for the option upfront. Then, if bitcoin goes above $48,400 at the midnight tomorrow, I will end up in profit otherwise I will bear the loss (could be between $1-400).

Alternatively, you can make quotes for the requests others have placed under 'All Requests' section if you see any. But note- you will play opposite party as to 'Option Type', consider that while making quote.

Thanks webtricks, that is exactly the information I'm after. A very different system to anything I've seen before but I'll give it a shot and see how it goes. Thanks again.
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May 09, 2021, 03:35:25 PM
Last edit: May 09, 2021, 03:59:01 PM by Azrieli
 #4

Caution with FTX:

- FTX BLL / BEAR tokens fraud at Binance
- Fraud with the signed NDA Agreement
- Binance and FTX - serving U.S. citizens publicly using Barry Silbert as an example

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August 04, 2021, 08:33:30 AM
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Well, now FTX has already changed its approaches, here is a message that FTX has bought back the shares sold by Binance. In an interview with Decrypt, founder Sam Bankman-Fried explained this step by the need to increase flexibility and the difference in business management styles. https://decrypt.co/76584/ftx-ceo-sam-bankman-fried-why-bought-out-binance-investment-shares-exit

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