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Indamuck
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May 14, 2015, 04:48:59 AM |
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Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
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Indamuck
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May 14, 2015, 05:25:55 AM |
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Website isn't loading properly for me.
"Balance," "Margin," and "Free Margin" are in a perpetual 'loading' state, and there are no quotes for the near-term contracts.
Uh, ok my balances are back, but quotes on near contracts are absent ... hmmm.
Buyer beware, we are still in Beta ...
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chriswen
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May 14, 2015, 06:14:27 AM |
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Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
That's what I was trying to tell you about the other dimension of the orderbook. You can see the full orderbook with the API. Just because there's 400 contracts of liquidity doesn't mean its all at the top. For the best bid and ask. If you use the api you'll be able to visualize it but they probably do it like what you said, at increments. And this way there will be liquidity when they remove some bids at the front of the book to shift price. |
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Indamuck
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May 14, 2015, 06:04:03 PM |
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Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
That's what I was trying to tell you about the other dimension of the orderbook. You can see the full orderbook with the API. Just because there's 400 contracts of liquidity doesn't mean its all at the top. For the best bid and ask. If you use the api you'll be able to visualize it but they probably do it like what you said, at increments. And this way there will be liquidity when they remove some bids at the front of the book to shift price. Well, if customers need to parse the API to get an accurate view of the order book then Coinut has lost 98% of its target market. Market makers specifically do this to game customer orders. On a related note, Coinut needs to use a third party index, because their short-term calculations underlying the 30-minute contracts are ridiculously errant. I've taken a 10-day position, and I'll probably be here for a bit, but I wouldn't (yet) recommend Coinut to others ... |
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chriswen
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May 14, 2015, 06:14:44 PM |
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Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
That's what I was trying to tell you about the other dimension of the orderbook. You can see the full orderbook with the API. Just because there's 400 contracts of liquidity doesn't mean its all at the top. For the best bid and ask. If you use the api you'll be able to visualize it but they probably do it like what you said, at increments. And this way there will be liquidity when they remove some bids at the front of the book to shift price. Well, if customers need to parse the API to get an accurate view of the order book then Coinut has lost 98% of its target market. Market makers specifically do this to game customer orders. On a related note, Coinut needs to use a third party index, because their short-term calculations underlying the 30-minute contracts are ridiculously errant. I've taken a 10-day position, and I'll probably be here for a bit, but I wouldn't (yet) recommend Coinut to others ... I think they might have plans to change it up. But currently they're showing quite a bit of information. They're already showing the orderbook with the best bid and asks. |
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Indamuck
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May 14, 2015, 06:28:10 PM |
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I think they might have plans to change it up.
But currently they're showing quite a bit of information.
They're already showing the orderbook with the best bid and asks.
It is a misrepresentation, in my view. Right now it shows 746 of the 236 strike near contracts bid at .009 btc, but you can only sell about 10 contract at that price. Lets just call it what it is: dishonest. |
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chriswen
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May 14, 2015, 06:37:03 PM |
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I think they might have plans to change it up.
But currently they're showing quite a bit of information.
They're already showing the orderbook with the best bid and asks.
It is a misrepresentation, in my view. Right now it shows 746 of the 236 strike near contracts bid at .009 btc, but you can only sell about 10 contract at that price. Lets just call it what it is: dishonest. It says Bid amount - that's the amount of contracts bidding for the strike. It also says best bid - that's the best bid price. |
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comp14
Newbie
 Offline
Activity: 6
Merit: 0
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May 14, 2015, 06:49:12 PM |
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Hi guys. I am a n00b to options trading, so bear with me if my questions don't make sense.
I read on the net that if I have an asset, and I don't mind holding it, then I can write a call option so that I will either sell the asset with profit or keep the premium if the holder doesn't show up at expiry date. My questions are:
1. Can I write call option on coinut.om?
2. Can I set a premium?
3. Can I set expiry time?
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Indamuck
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May 14, 2015, 06:52:33 PM |
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It says Bid amount - that's the amount of contracts bidding for the strike.
It also says best bid - that's the best bid price.
On the web interface I only see 'Amount Bid Strike Ask Amount' I've been on this for ~20 hrs and I don't see any parsing of the 'Amount' figures ... What 'best bid' are you referring to? |
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Indamuck
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May 14, 2015, 06:58:29 PM |
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Hi guys. I am a n00b to options trading, so bear with me if my questions don't make sense.
I read on the net that if I have an asset, and I don't mind holding it, then I can write a call option so that I will either sell the asset with profit or keep the premium if the holder doesn't show up at expiry date. My questions are:
1. Can I write call option on coinut.om?
2. Can I set a premium?
3. Can I set expiry time?
You are describing a covered call, and yes, you can sell calls at Coinut against your deposited btc. Do your own research, there is lots of information on the web about writing covered calls. And then start by placing only a small position, so that you can see/experience firsthand how the position works its way to expiration. |
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chriswen
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May 14, 2015, 08:46:00 PM |
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It says Bid amount - that's the amount of contracts bidding for the strike.
It also says best bid - that's the best bid price.
On the web interface I only see 'Amount Bid Strike Ask Amount' I've been on this for ~20 hrs and I don't see any parsing of the 'Amount' figures ... What 'best bid' are you referring to? I'm talking about the orderbook here. https://coinut.com/ |
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chriswen
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May 14, 2015, 09:01:26 PM |
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Hi guys. I am a n00b to options trading, so bear with me if my questions don't make sense.
I read on the net that if I have an asset, and I don't mind holding it, then I can write a call option so that I will either sell the asset with profit or keep the premium if the holder doesn't show up at expiry date. My questions are:
1. Can I write call option on coinut.om?
2. Can I set a premium?
3. Can I set expiry time?
Hi, There's two type of options on coinut. Binary and Vanilla options. You want to use vanilla options. Yup so what you're talking about is the covered call which is one of the first strategies people learn. Yes you can write a call option on coinut.com Currently you can choose between two expiry times. Daily and Weekly. (May 15, May 17) You can choose the premium and strike price. If you see the orderbook for vanilla options. You can set an ask for fill a bid. Currently there isn't a bid premium on daily, you might get a better premium on weekly. Or you can place an ask but it'll take awhile to get filled. Writing Vanilla options require margin. Option Price + 0.01*Maximum ((40% * Underlying Price - Out of the Money Amount), (20% * Underlying Price)) Check out the site, to anyone reading this thread you can use the referral link in my signature. |
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Indamuck
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May 15, 2015, 12:35:27 AM |
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It says Bid amount - that's the amount of contracts bidding for the strike.
It also says best bid - that's the best bid price.
On the web interface I only see 'Amount Bid Strike Ask Amount' I've been on this for ~20 hrs and I don't see any parsing of the 'Amount' figures ... What 'best bid' are you referring to? I'm talking about the orderbook here. https://coinut.com/That doesn't add anything, and I think you know that. Shame on you. Coinut should add more digits to the bid/ask prices in order to give customers an accurate indication of contracts at the best bid/ask, instead of allowing market makers to game customer orders. Hmmm, maybe Coinut is the market maker ... that would make sense. |
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wangxinxi (OP)
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May 16, 2015, 01:43:06 AM |
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It says Bid amount - that's the amount of contracts bidding for the strike.
It also says best bid - that's the best bid price.
On the web interface I only see 'Amount Bid Strike Ask Amount' I've been on this for ~20 hrs and I don't see any parsing of the 'Amount' figures ... What 'best bid' are you referring to? I'm talking about the orderbook here. https://coinut.com/That doesn't add anything, and I think you know that. Shame on you. Coinut should add more digits to the bid/ask prices in order to give customers an accurate indication of contracts at the best bid/ask, instead of allowing market makers to game customer orders. Hmmm, maybe Coinut is the market maker ... that would make sense. The full orderbook can always be queried using the API. For your convenience, we just added the interface for market depth to the trading interface. You just need to click the strike price to see. |
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chriswen
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May 16, 2015, 01:47:54 AM |
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That doesn't add anything, and I think you know that. Shame on you.
Coinut should add more digits to the bid/ask prices in order to give customers an accurate indication of contracts at the best bid/ask, instead of allowing market makers to game customer orders. Hmmm, maybe Coinut is the market maker ... that would make sense.
Really cool huh, they just implemented a way to see the orderbook. |
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Indamuck
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May 16, 2015, 03:15:17 AM |
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The full orderbook can always be queried using the API. For your convenience, we just added the interface for market depth to the trading interface. You just need to click the strike price to see.
This is super cool guys! Count me a raving fan. I had faith that you were open to providing transparency here. I'm not a programmer, so the API doesn't do anything for me, but now in a very straightforward way everyone can see the order depth for each contract. Also, previously I was PR in Singapore, and registered my own business there, so I recognize you guys are regulated pretty closely. I have a high level of trust for Singapore businesses, and I really want this service to work ... On an unrelated note, I keep getting this error box every time I logout - how do I/we remedy? Wt internal error: [Exception... "The connection does not exist" nsresult: "0x804b000c (NS_ERROR_NOT_CONNECTED)" location: "JS frame :: https://coinut.com/ :: h :: line 86" data: no], code: undefined, description: undefined |
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wangxinxi (OP)
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May 16, 2015, 11:47:45 PM |
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Some reported that the timezone cannot be changed. Now the issue has been fixed. No need to calculate the time anymore!
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chriswen
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May 17, 2015, 01:48:53 AM |
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Someone recently suggested having some sort of profit calculator for vanilla options.
Or maybe something that displays the risk profile.
I think that'd make it easier for people to understand the vanilla options.
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Indamuck
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May 17, 2015, 10:11:27 PM |
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Hi ... I'm sure you guys have lots of 'top priorities,' including marketing, but I'm wondering if you have any near-term plans to implement some type of portfolio margining, particularly for complex option strategies?
For example, because I'm a degenerate gambler and ultra bullish on btc, I used all my margin to sell binary puts. But that shouldn't preclude me from also selling calls for the same expiration, right? The two positions cannot simultaneously settle out-of-the-money. I know some brokers allow these types of positions with equity, index options and such. What are your thoughts?
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wangxinxi (OP)
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May 17, 2015, 10:20:48 PM |
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Hi ... I'm sure you guys have lots of 'top priorities,' including marketing, but I'm wondering if you have any near-term plans to implement some type of portfolio margining, particularly for complex option strategies?
For example, because I'm a degenerate gambler and ultra bullish on btc, I used all my margin to sell binary puts. But that shouldn't preclude me from also selling calls for the same expiration, right? The two positions cannot simultaneously settle out-of-the-money. I know some brokers allow these types of positions with equity, index options and such. What are your thoughts?
Currently we don't directly provide strategies like strangle or straddle. However, you can manually open two positions to form a strangle or straddle strategy. They are in essence the same. If you want to hedge with the underlying asset, then you should have an account in exchanges like Bitfinex, Bitstamp or BTC-e.com. We will probably design an unified interface for all these kind of positions in the future. But as you said, right now our top priorities are other things like marketing. |
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