August 10, 2021
OKEx Added New Crypto Options
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OKEx Added New Crypto Options

OKEx cryptocurrency exchange is one the most famous Malta-based exchanges. Recently, OKEx added new crypto options to its platform. In fact, it expanded its options trading types by adding daily, two-day, and monthly options trading for EOS/USD, BTC/USD and ETH/USD.

The new options on OKEx

OKEx announced on Friday that three new expiration dates will be applied on its platform. The new expiration dates follow previously launched weekly, bi-weekly, quarterly, and bi-quarterly options.

In fact, they launched the new options in order to increase the market liquidity. Additionally, they aimed to provide more choices in order to implement various trading strategies.

As OKEx said, the shorter expiration date applied not only lower the threshold for options trading, but also enables traders to execute their trades with smaller funds.

The new option contracts and trading pairs

As Wallebi reported, The OKEx announced on July 23 that the new option contracts will be applied to three trading pairs. The pairs consist of BTC/USD, EOS/USD, ETH/USD. The first one-day and two-day option contracts will expire on July 25,26, respectively. In addition, the exchange noted that the first monthly option will expire on Aug 28.

Jay Hao the CEO of OKEx mentioned that the exchange is trying to diversify the currencies on the platform. In fact, The OKEx’s executives believe that the services are “still far from enough”.

Hao said: OKEx exchange is a one-stop trading platform. The platform has various users from entry-level to professional traders. As a result, we keep optimizing our product line.

OKEx is the second largest crypto trading options

OKEx introduced crypto options trading in late 2019. The exchange managed to overtake some other major platforms such as ICE’s Bakkt and Chicago Mercantile Exchange (CME), Group.

Now, OKEx is the second largest crypto trading volume by BTC options volumes. The weekly volume of OKEx for the BTC/USD is around $40 million.

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