OKX, a leading crypto exchange and Web3 technology company, has announced updates for September 9, 2023.
The exchange will launch limit orders for options based on implied volatility (IV) and the price of USD at 2:00 pm (UTC+8). This feature will first be available on the OKX website and will be available on the OKX app at a later date.
Traders will be able to place a limit order with an IV value to specify the target price level of their options contract. The BTC/ETH prices of these orders will be continuously updated using the Black-Scholes (BS) options pricing formula, ensuring that the corresponding IVs remain close to the levels specified.
Similarly, traders will also be able to place a limit order with a USD price to specify the target price level of their options contract. The BTC/ETH prices of these orders will be continuously updated using the prevailing crypto index price, ensuring that the corresponding USD prices remain close to the level specified. The BTC/ETH prices of these orders will be updated every 3 seconds in the order book.
In addition, the currency used in options trading has been adjusted. Prices and order/position amounts will no longer be displayed in the local currency selected by traders. Instead, these fields will only be displayed in crypto or USD. The BTC/ETH price index used as the underlying index for options contracts will also no longer be displayed in the local currency selected by traders, only the USD index of BTC/ETH will be displayed.
Traders can continue to place limit orders for options using prices specified in crypto (BTC/ETH). To place a limit order based on IV or USD price, traders can check the “Tracking orders” box on the limit order UI for options.
For more information, please visit the OKX Support Center. To learn more, read this site announcement.
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere. As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3. The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens. OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless.