Crypto derivatives exchange Deribit, announced today that starting this upcoming Monday, February 3rd, it will start offering daily options on the Deribit BTC index. There will now be a BTC option contract expiring every day of the year. Deribit users will be able to choose from a full range of expiries ranging from one day to nine months. Strike price intervals will be USD 125. Deribit will aim to offer a range of strike prices around 5% plus and minus of the ATM (at-the-money) level.
Besides the shorter time to expiry, the new daily options will have similar contract specifications to the other options already available on Deribit. The daily options will be tradable the day immediately preceding the expiry day (8 AM UTC) and will, therefore, have an initial lifetime of two trading days at the time of introduction. In line with Deribit’s current range of options, they will expire every day at 8 AM UTC and the settlement prices will be published on the Deribit indexes page.
“These short-dated expiries are specifically interesting for investors and traders with a short term view based on for example, macroeconomic data or events. Deribit will work with its market makers to ensure that highly competitive prices are available. Monday, February 3rd, 2020 between around 12 AM UTC we will launch the Tuesday and Wednesday expiry. As of then, the new series will be listed automatically every day 8 AM UTC expiring 2 days (48 hours) later.”
– The Deribit Team
For those interested, new daily options are currently available in test mode at test.deribit.com.
Deribit Options OI has been growing since late December and now exceeds USD $600M
Data provided by: @skewdotcom pic.twitter.com/mKXWzC3XCH
— Deribit (@DeribitExchange) January 29, 2020