Placing a Trade
How to place an options trade on LedgerX
- Select the option you want to trade on the options chain
- Enter the Quantity/ # of contracts
- Review or Edit the Price. The Ask Price is the amount sellers are willing to receive for an options contract. The Bid price is the amount buyers are willing to pay for an options contract.
- Click Buy or Sell to confirm your order
- Confirm Order
If your order hasn't been filled yet, you can edit orders by toggling to the "open orders" tab on the bottom of the screen > click edit order. You can keep the current order or save the edit.
See How to Close Options Positions for more info.
Trading Options on LedgerX
1 Mini contract = 1/100 BTC or 0.01 BTC | 1 Deci contract = 1/10 ETH or 0.1 ETH
In traditional equity options, 1 contract represents 100 shares. LedgerX options do not use a multiplier. 1 contract on LedgerX is equivalent to 0.01 BTC or 0.1 ETH - no multiplier. If you buy 1 call option, you are paying for the right to buy 0.01 BTC/ 0.1 ETH at the strike price on the expiration date.
Further, if you are buying 37 call options (0.37 BTC), you are paying for the right to buy 0.37 BTC at the strike price on the expiration date.
How much BTC does 1 mini options contract represent?
1 mini contract = 0.01 BTC, 100 contracts = 1 BTC
How much ETH does 1 deci options contract represent?
1 deci contract = 0.1 ETH, 10 contracts = 1 ETH
When you buy an option, you will pay the seller the $ premium at time of trade. You need dollars in your account to purchase options. See Fund Your Account.
You are paying for the option to buy BTC/ETH at the strike price on the expiration date. See Buy Call Options to learn how to buy calls on LedgerX.
To sell a call, you need to deposit BTC/ETH. To sell a put, you need to deposit the strike price in dollars. See Fund Your Account
100 Mini Contracts = 1 BTC; 10 Deci Contracts = 1 ETH
When you sell a call, you collect a premium at the time of trade; you are obligated to sell BTC/ETH at the strike price if you're assigned. See Sell Call Options to learn how to sell calls on LedgerX.