You can now trade Binance Options on the go with the Binance App:
1. Log in to your Binance account and tap [Futures] - [Options]. Please note that you can only trade on Binance Options if you have a Binance Futures account.
2. Tap the [Transfer] icon on the top right corner and enter the amount of funds (USDT, BUSD, or BNB) you wish to transfer. Tap [Confirm Transfer], and the funds will be transferred from your Spot Wallet to your Futures Wallet.
3. Binance Options offers three types of orders, [Buy Call], [Buy Put], and [Buy Vol]. If you are bullish on the market, you can [Buy Call], if you are bearish, you can [Buy Put]. If you want to catch the market’s move regardless of direction, you can [Buy Vol]. For more detail about Vol options, please visit our FAQ on Vol Option (Straddle).
You can then choose the expiration date, ranging from 5 minutes, 10 minutes, 30 minutes, 1 hour, 4 hours, 8 hours, 12 hours, and 1 day.
Next, choose the order type and enter the quantity you wish to order. Tap [Confirm] to place your order.
You can choose to set a target price for your contract. Toggle on the button and enter the upper target price. You can see the estimated PNL immediately after you enter the price.
You can also adjust the Target Price under [Positions] after placing the order.
4. Once you have placed the order, you can view your position, including unrealized profit and loss, time to expiration, and breakeven price under [Positions]. Your options will be shown on the chart too.
5. Since Binance Option is American-style options, you can settle the options at the strike price any time before the expiration date. Go to [Positions], tap [Settle] to realize the profit and loss of your options, then tap [Confirm]. If you do not settle the options before the expiration date, it will be automatically settled or exercised upon the expiration date.
*Extend your options is available for iOS 2.21.0 and Android 1.32.0 or above.
You can choose to extend the expiry time of a position before its expiration date to increase the potential profit opportunities. You can enjoy a discounted premium compared to buying a new option of the same price with the same expiration date.
To extend your options, tap [Extend] to select the preferred time, and you can see the premium you need to pay for the extension. Tap [Pay to Extend] to confirm. You can then see the updated Premium and Time to Expiration under [Positions] or [Extension History].