Topic: [ANN] Coinut.com - The only Bitcoin Options Exchange [beta] - page 12. (Read 34192 times)

Both Bitfinex and Bitstamp offer WebSocket APIs that you could use to actually get the realtime index, rather than the polling system you currently use, which is definitely delayed.

Thanks. I have to play less poker and spend more time exploring OKcoin, Bitmex, and 1broker, lol. If Okcoin is like 796 with more liquidity & tighter spreads, I might have to move.

Not even remotely close to being updated in realtime, bitstamp is usually consistently delayed, sometimes affecting the price index by 20 cents or more

spreads on the binary options are just way too large, just waiting for alt-options to open up.  If you watch the order books for the sites, you can actively see the manipulation of the price index at the expiration of the 30 minute windows. Your index calculation is also well off from real time, sometimes many seconds off.  Worst I have seen is over a minute delay between Bitstamp's order book, and the Coinut price index page reflecting this change, sometimes it does not reflect the change at all.  Fraudulent at best.

Sorry about that, OKcoin is going through some heavy DDOS attacks last night.

Also Coinut removed the 4 hour and daily binary contracts which I think is a horrible idea.

You say you want to drive liquidity to contracts, but having contracts constantly expire, that brings volume. Having contracts expire faster will bring more volume. And users have a need for shorter contracts.

Also I have serious doubt about 6 month liquidity. That's a massive lockup period of capital. Maybe you should transition to 3 month or 4 month. You'll get extra volume like that too. 6 month capital lockup is expensive.

Yeah futures usually trade at a premium. I also use that as an indicator, if it's too big I won't enter a position. Might miss something but nothing wrong with that.

Trading the Shanghai index is interesting but I have absolutely no experience with it, I'll stick to trading BTC. Have you heard of 1broker (ref link)? You can trade all sorts of CFDs with Bitcoin. Up to 200x leverage on forex. S&P 500, DAX 30, Dow Jones (20x). 11 stocks, and they'll be adding more (15x leverage).

I use Okcoin and Bitmex for different things. I think Okcoin is a lot more comparable to 796. The okcoin futures platform is really the most liquid one. Up to 20x leverage. I think there's more liquidity and tighter spreads then 796.

On the other hand Bitmex doesn't have a lot of liquidity. Price discovery isn't really done their, but you trade with the market makers on their. Bitmex offers two types of futures contracts. They have the XBU inverse futures which is basically the exact same thing Okcoin and 796 has. They only offer 2.5x leverage on those so it might not be your thing. XBU futures also don't have a lot of liquidity. There's Daily, Monthly Quarterly, Quarterly, 6 month.

Bitmex also has the XBT Quanto futures, these are designed so that as the price goes up you'll make more money then with traditional futures. Inverse futures, each contract is worth 1 USD. For quanto, 0.00001 XBT per 1 USD (Currently 0.0032 XBT per contract). They have some graphs to show the difference. So I'm bullish which is why I like trading XBT futures. Because of how it's structured, there's a slight premium. There's monthly, quarterly, and 6 month. There's a lot more liquidity on Quanto. You should be able to do scalps on the monthly contract. Make sure you take into account the premium, it fluctuates quite a bit. XBT Quanto offers up to 10x leverage.

Also unlike 796 and okcoin, they margin call you in parts. They don't take leftover money. Bitmex doesn't offer extremely high leverage, 10x is decent, but it's well suited for longer term contracts (No one else offers 6 months). They also have a unique product with XBT Quanto futures which gives you the opportunity to make more money in a bullish market.

Bitmex Sign-Up
Okcoin Sign-up

For futures I'm only using 796 Exchange at the moment. One thing I really like is there is that the futures contract usually trades at a large premium/discount to spot. So I trade directionally, but also use prem/disc as a decision input. Also, they are trying to launch a CFD tied to Mainland PRC stocks. I think they've curtailed trading (?) due to crazy volatility of late, but I've traded that contract a bit and would love for it to gain some traction.

What are your thoughts on Okcoin vs. Bitmex? I've briefly looked at both, but haven't taken the plunge yet. Bitmex didnt' excite me because their homepage was too 'busy' and their futures contract pretty much traded at spot. The Bitmex principals are from 'sell side' wall street and I got turned off by the 'pitch' of all the noise on their site. That said, the founder writes a decent newsletter, and I appreciated his last one calling for a run to $300 before a pullback etc. etc. ... will confess I switched more bullish after I read it.

Okcoin ... I just read about several recent departures among their senior staff, questions about their audits (?), and decided not to bother. I'm already trading with one Chinese exchange, probably don't need to double my headaches.

Got a 1 340 put fill at 0.009

Also they strikes were changed on 180 day binary options.

Makes sense. $16 strikes now to make it compatible with biweeklies.

You just won't see the $340 open interest until a day before expiration.

Yeah futures volatility is awesome.

I have a balance on bitmex (quanto futures), okcoin (20x) , and coinut (binary options and vanilla options).

Anyways I don't really go all in anyways. And all the products are a bit different.

Also Binary Leaps available now too.

Awesome. Actually I withdrew all my balance several days ago to trade futures given the recent volatility. Time to log back in and have a look.

Welcome

You are pretty quick! Those options expire every 180 days.

Also this site wants to compete with you. They're planning to launch a US based options platform (but nothing right now).

https://www.youtube.com/watch?v=41hCIYNS5mI

Also they plan to do American options.

Woah you're adding yearly Vanilla options!!

EDIT: (or 6 months)

EDIT2: Fill my orders please

EDIT3: Indamuck you were asking for LEAPs right?

Would be awesome if you had a chart page showing your price index over time

i found this metaphor very helpful, thanks !

Just look at the market maker's orders. Fill one of those. I just do a limit order for that price. I usually will get a fill, but if the price moves I'm okay with that too.

In order for you to BUY something, there must be someone willing to SELL it to you.

I can make offers all day to buy houses in my neighborhood for $10. Nobody will accept my offer, so I will never get 'filled.' Just because I made an offer, or multiple offers, does not mean I am entitled to a fill. I must find a willing seller at my price.

If you are trying to buy a contract and you see that the best offer is for .0075 btc, and you bid .0050, your bid will not get 'filled', at least initially. At that moment nobody is willing to sell at that low price. Once you've sent an order, ALWAYS follow up on whether your order was filled. If it wasn't filled, your order is still likely broadcast on the exchange and you might want to cancel it.

Market orders are usually filled immediately, but the price totally depends on the current market condition. Limit orders let you control your price, but you may need to wait. To get immediate fill with limit orders, if you buy, make sure the price is high enough; if you sell, make sure the price is low enough. You can read the slides on the home page to get a detailed introduction on how to place orders.

could you explain more detaily what do you mean with good prices ?
i have chosen already with "limit order" in the order type with 0.005 prices each amount