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Author Topic: Options in either direction for current MtGox price  (Read 717 times)
MoPac
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July 18, 2012, 05:06:43 AM
 #1

[Ed.: Updated with new, clearer-phrasing OTC orders]

OTC order 9105: http://bitcoin-otc.com/vieworder.php?id=9105

For sale: 1 "7-day 100 USD Option" @ 1.5 "btc fee" . For a contract fee (premium) of 1.5 btc, I will pay on demand 100USD for their agreement-time value in Bitcoins. Option can be called for 7 days after agreement. Contract will be under my real verifiable US identity. Detailed contract, escrow options, and fee negotiation on request to adam at adamcolligan.net or via IRC.


OTC order 9106: http://bitcoin-otc.com/vieworder.php?id=9106

For sale: 1 "7-day 15-BTC Option" @ 1.5 "btc fee" . For a contract fee (premium) of 1.5 btc, I will pay on demand 15 BTC in exchange for their agreement-time value in USD. Option can be called for 7 days. Contract will be under my real verifiable US identity. Detailed contract, escrow options, and fee negotiation on request to adam at adamcolligan.net or via IRC.



I would be interested to know about interest or concerns regarding these items or ones like them.

Adam Colligan
AdamColligan.net/gpg
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MoPac
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July 18, 2012, 02:27:47 PM
 #2

The break-even points for these options being profitable for buyers are now:

for the 100 USD option (9105, where you get 100 USD on exercise):
$8.08 USD per BTC market price sometime in the next week

and

for the 15 BTC option (9088, where you get 15 BTC on exercise):
$10.22 USD per BTC  market price sometime in the next week.




Adam Colligan
AdamColligan.net/gpg
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July 18, 2012, 05:30:20 PM
 #3

How would the USD be transferred (for either contract)?
MoPac
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July 18, 2012, 05:45:08 PM
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An MtGox coupon would be the easiest way in both directions (and the way I would prefer to pay out the 100 USD option at the moment).  I would be happy to receive Dwolla or work something else out (like an ACH with the BTC in escrow).  

I'm open to escrow options in general if there is a trust issue, although in the contract I am my real legal self and agree to accept the jurisdiction of any small-claims track case in the US, England or Wales.

I also have initially designed the contracts to be transferable (I pay out to whomever can provide me with the contract code, which I secure to the counterparty by GPG).  But I'm happy to remove that part so long as the counterparty understands that someone else could impersonate them and make the claim.

Adam Colligan
AdamColligan.net/gpg
MoPac
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July 19, 2012, 02:30:20 PM
 #5

I could also consider auctioning the options (winner being low bidder of the premium/fee) if there would be interest in that.

Adam Colligan
AdamColligan.net/gpg
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