OKEx just became more attractive to options traders as the leading crypto spot and derivatives exchange launched three more expiration dates for its popular offering. In a late announcement last week, the platform added daily, two-day, and monthly options to the list which earlier included weekly, bi-weekly, quarterly, and bi-quarterly options.
All options on OKEx follow a specific expiry time which is set at 4:00 PM (UTC +8) with the bi-weekly options generating every Friday, monthly options every third-to-last Friday of the month, and bi-quarterly options on the last Friday of the quarter. The implementation of a multi-expiry feature is a major upgrade to the platform’s options product which closely follows the recent inclusion of ETH and EOS options.
The provision for multiple feature-rich options on OKEx allows traders to choose from a diverse range of trading strategies. They also get the flexibility to experiment with short term options at a significantly lower threshold and relatively little funds.
The CEO of OKEx Jay Hao said, “OKEx is a one-stop trading platform, accommodating users of all levels from entry-level to institutions and professional traders. Therefore, the richness of products is of great importance to us. Overall, we already have an extensive suite of products – including spot, futures, options, and swap – but it is still far from enough. We will not give up the opportunity to continue optimizing our entire product line.”
He further added, “Based on this concept, we have launched more options to fulfill the demands of users with different amounts of funds and trading strategies, providing our global users with even better trading experience.”
All this while, OKEx has been doing great as one of the top-tier exchanges in terms of trading volumes. The CryptoCompare Exchange Review June 2020 report states that approximately three-quarters of the total share of spot trading volume passes through the top two platforms, one of which is OKEx. An observation of the derivatives trading trends on the platform also paints a similar picture as the weekly transaction volume of BTC/USD continues to hover over the $40 million mark. Now, the addition of more features to options trading can result in a significant increase in the volumes, pushing OKEx further to scale new heights.