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Binance Options are European-style options contracts.
Please note that for risk management purposes, Options writing on BTC options is open to users. Users are required to upgrade their accounts to “Long & Short Sell” trading mode at Binance Options Trading Page to access Options writing. Options writing for all other underlying symbols are currently reserved for Liquidity Providers and selected qualifying clients.
You can refer to the table below for Binance Options contract specifications:
| Contract Type | Call and Put Options |
| Symbol | The symbol of an option contract consists of the Underlying Asset, Expiration Date, Strike Price, and Option Type. It is listed in this format: Underlying Asset-YYMMDD-Strike Price-Option Type. e.g., ETH-221230-2000-C or XRP-230331-0.365-P |
| Underlying Index | Binance ETHUSDT Spot Index Binance BTCUSDT Spot Index Binance BNBUSDT Spot Index Binance XRPUSDT Spot Index Binance DOGEUSDT Spot Index Binance SOLUSDT Spot Index |
| Underlying Asset | ETH, BTC, BNB, XRP, DOGE, SOL |
| Quote Asset / Settlement Asset | USDT |
| Tick Size | Minimum price change 0.1 for ETH Options (listed before 16 October 2024) Minimum price change 0.1 or 0.2 for ETH Options (listed on and after 16 October 2024) Minimum price change 5 for BTC Options Minimum price change 0.1 for BNB Options Minimum price change 0.01 for XRP, DOGE, and SOL Options |
| Step Size | ETH, BTC, BNB, DOGE minimum order size: 0.01 XRP and SOL minimum order size: 0.1 |
| Method of Exercise | Cash settlement in USDT |
| Exercise Style | European Options cash settlement |
Strike Interval | Please refer to Binance Options Listing Rules |
| Unit | Contract unit is the quantity of the underlying asset represented by a single contract ETH, BTC, BNB, SOL contract unit: 1 XRP contract unit: 100 DOGE contract unit: 1,000 |
| Mark Price | Options Mark Price is calculated in real-time by using the Black-Scholes model. The implied volatility applied in calculating the Options Mark Price is determined based on the best bid and ask prices of the option contract, inputs from specialized liquidation market makers, and the established volatility cap and floor parameters within the system. The volatility cap and volatility floor might be adjusted without notification during severe market volatility. The option’s underlying price comes from the corresponding Spot Price Index before the settlement. For option contracts that settle in 0.5 hour, the underlying price is the arithmetic mean of the Spot Price Index during the 0.5 hour preceding the expiration time as indexed by the platform. |
| Settlement Price | The arithmetic mean of the Spot Price Index during the 0.5 hour preceding the expiration time as indexed by the platform |
| Creation Time | New options expiration dates will be added at 08:00 UTC every Thursday prior to Friday expirations |
| Expiration Date | The exercise time of the option contract |
| Price Limit | Maximum Price Limit = Options Mark Price + Adjustment Factor * Max (1, 4 * [1- abs (delta)]) Minimum Price Limit = Options Mark Price - Adjustment Factor * Max (1, 4 * [1- abs (delta)]) Adjustment Factor = max(Adjust Factor 1 * Index Price * Initial Margin Ratio, (Index Price * Initial Margin Ratio + OTM Amount) * Adjust Factor 2) * Contract Unit |
| Position Limit | Please refer to Binance Options Mark Prices and Position Limits |
| Exercise Fee for Call Options | Minimum [Exercise Fee Rate * Settlement Price * Unit, 10% * (Settlement Price - Strike Price) * Unit] * Position Size |
| Exercise Fee for Put Options | Minimum [Exercise Fee Rate * Settlement Price * Unit, 10% * (Strike Price - Settlement Price) * Unit] * Position Size |
| Exercise Fee Rate | 0.015% |
| Liquidation Fee Rate | Minimum (Liquidation fee rate of 0.19% * Index Price * Conversion ratio * abs(Position Size), Option Premium of the liquidation * 25%) |
| Trading Hours | 24*7 |
| Trading Fees | Please refer to Binance Options Trading Fees |
| Max. Open Orders | ETH, BTC, BNB: 10 for each symbol XRP, DOGE, SOL: 5 for each symbol |
| Min. Order Notional Value | BTC: 0.05 per order ETH, BNB, XRP, DOGE, SOL: 0.001 per order |
