@TermMax I assumed exercising a profitable option on TermMax Alpha would work one fixed way — payout hits your wallet, done, same as any options platform I'd used before. $BEAT
That assumption fell apart once I read that TermMax actually gives two distinct exercise paths. Exercise-Net-Settle closes the position and pays out the net profit directly. Exercise-Delivery instead settles by transferring the underlying asset itself, not cash — you end up actually holding the token your Long or Short position was based on. #TermMax
This reframes what "winning" an options trade means here. On most platforms, exercising just means realizing a number. On TermMax, exercising can mean walking away with the actual asset, which matters specifically for early Binance Alpha listings where getting real exposure to the token — not just its price movement — might be the whole point of the trade. $TUT
What the docs don't clarify is whether the choice between the two is always available to the trader, or whether it depends on the specific market's configuration at settlement time. $ENA
The real test for TMX is whether traders actually understand this choice exists before they exercise, or default to whichever option the interface shows first.
Has anyone actually used Exercise-Delivery instead of Net-Settle, and why?
#termmax @TermMax
That assumption fell apart once I read that TermMax actually gives two distinct exercise paths. Exercise-Net-Settle closes the position and pays out the net profit directly. Exercise-Delivery instead settles by transferring the underlying asset itself, not cash — you end up actually holding the token your Long or Short position was based on. #TermMax
This reframes what "winning" an options trade means here. On most platforms, exercising just means realizing a number. On TermMax, exercising can mean walking away with the actual asset, which matters specifically for early Binance Alpha listings where getting real exposure to the token — not just its price movement — might be the whole point of the trade. $TUT
What the docs don't clarify is whether the choice between the two is always available to the trader, or whether it depends on the specific market's configuration at settlement time. $ENA
The real test for TMX is whether traders actually understand this choice exists before they exercise, or default to whichever option the interface shows first.
Has anyone actually used Exercise-Delivery instead of Net-Settle, and why?
#termmax @TermMax