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Binance Options Contract Specifications

2020-12-25 06:32
Binance Options are European-style options contracts. Binance has launched the ETH Options in phase 1, with other symbols to follow.
Please note that for risk management purposes, Options writing on Binance is reserved to Liquidity Providers and selected qualifying clients.
All other users are restricted to buying and selling Options only.
You can refer to the table below for Binance Options contract specifications:
Contract TypeCall and Put Options
SymbolThe symbol of an option contract consists of the Underlying Asset, Expiration Date, Strike Price, and Option Type. It is listed in this format: Underlying Asset-YYMMDD-Strike Price-Option Type. e.g., ETH-221230-2000-C
Underlying Index
Binance ETHUSDT Spot Index
Binance BTCUSDT Spot Index
Binance BNBUSDT Spot Index
Underlying AssetETH, BTC , BNB
Quote Asset / Settlement AssetUSDT
Tick Size
Minimum price change 0.1 for ETH Options
Minimum price change 1 for BTC Options
Minimum price change 0.1 for BNB Options
Step SizeMinimum order size, 0.01
Method of ExerciseCash settlement in USDT
Exercise StyleEuropean Options cash settlement

Strike Interval

Please refer to Binance Options Listing Rules
UnitContract unit is the quantity of the underlying asset represented by a single contract
Mark Price
Options Mark Price is calculated in real-time by using the Black-Scholes model. The implied volatility used to calculate Options Mark Price is derived from the best bid and best ask prices for the option contract, along with the volatility cap and volatility floor set in the system.
Implied Volatility = {max[min(implied volatility of best bid, volatility cap), volatility floor] + max[min(implied volatility of best ask, volatility cap), volatility floor]} * 0.5
The volatility cap and volatility floor might be adjusted without notification during severe market volatility.
The option’s underlying price comes from the corresponding Spot Price Index before the settlement. For option contracts that settle in 0.5 hour, the underlying price is the arithmetic mean of the Spot Price Index during the 0.5 hour preceding the expiration time as indexed by the platform.
Settlement PriceThe arithmetic mean of the Spot Price Index during the 0.5 hour preceding the expiration time as indexed by the platform
Creation TimeNew options expiration dates will be added at 08:00 UTC every Thursday prior to Friday expirations
Expiration DateThe exercise time of the option contract
Price Limit
Maximum Price Limit = Options Mark Price + Adjustment Factor * Max (1, 4 * [1- abs (delta)])
Minimum Price Limit = Options Mark Price - Adjustment Factor * Max (1, 4 * [1- abs (delta)])
Adjustment Factor = max(Adjust Factor 1 * Index Price * Initial Margin Ratio, (Index Price * Initial Margin Ratio + OTM Amount) * Adjust Factor 2) * Contract Unit
Position LimitPlease refer to Binance Options Mark Prices and Position Limits
Exercise Fee for Call OptionsMinimum [Exercise Fee Rate * Settlement Price * Unit, 10% * (Settlement Price - Strike Price) * Unit] * Position Size
Exercise Fee for Put OptionsMinimum [Exercise Fee Rate * Settlement Price * Unit, 10% * (Strike Price - Settlement Price) * Unit] * Position Size
Exercise Fee Rate 0.015%
Trading Hours24*7
Trading FeesPlease refer to Binance Options Trading Fees
Max. Open Orders30 for each symbol
Min. Order Notional Value0.001 per order