Hi guys. I am a n00b to options trading, so bear with me if my questions don't make sense.
I read on the net that if I have an asset, and I don't mind holding it, then I can write a call option so that I will either sell the asset with profit or keep the premium if the holder doesn't show up at expiry date. My questions are:
1. Can I write call option on coinut.om?
2. Can I set a premium?
3. Can I set expiry time?
Topic: [ANN] Coinut.com - The only Bitcoin Options Exchange [beta] - page 20. (Read 34182 times)
I think they might have plans to change it up.
But currently they're showing quite a bit of information.
They're already showing the orderbook with the best bid and asks.
It is a misrepresentation, in my view. Right now it shows 746 of the 236 strike near contracts bid at .009 btc, but you can only sell about 10 contract at that price.
Lets just call it what it is: dishonest.
It says Bid amount - that's the amount of contracts bidding for the strike.
It also says best bid - that's the best bid price.
I think they might have plans to change it up.
But currently they're showing quite a bit of information.
They're already showing the orderbook with the best bid and asks.
It is a misrepresentation, in my view. Right now it shows 746 of the 236 strike near contracts bid at .009 btc, but you can only sell about 10 contract at that price.
Lets just call it what it is: dishonest.
Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
That's what I was trying to tell you about the other dimension of the orderbook.
You can see the full orderbook with the API.
Just because there's 400 contracts of liquidity doesn't mean its all at the top. For the best bid and ask.
If you use the api you'll be able to visualize it but they probably do it like what you said, at increments. And this way there will be liquidity when they remove some bids at the front of the book to shift price.
Well, if customers need to parse the API to get an accurate view of the order book then Coinut has lost 98% of its target market. Market makers specifically do this to game customer orders.
On a related note, Coinut needs to use a third party index, because their short-term calculations underlying the 30-minute contracts are ridiculously errant.
I've taken a 10-day position, and I'll probably be here for a bit, but I wouldn't (yet) recommend Coinut to others ...
I think they might have plans to change it up.
But currently they're showing quite a bit of information.
They're already showing the orderbook with the best bid and asks.
Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
That's what I was trying to tell you about the other dimension of the orderbook.
You can see the full orderbook with the API.
Just because there's 400 contracts of liquidity doesn't mean its all at the top. For the best bid and ask.
If you use the api you'll be able to visualize it but they probably do it like what you said, at increments. And this way there will be liquidity when they remove some bids at the front of the book to shift price.
Well, if customers need to parse the API to get an accurate view of the order book then Coinut has lost 98% of its target market. Market makers specifically do this to game customer orders.
On a related note, Coinut needs to use a third party index, because their short-term calculations underlying the 30-minute contracts are ridiculously errant.
I've taken a 10-day position, and I'll probably be here for a bit, but I wouldn't (yet) recommend Coinut to others ...
Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
That's what I was trying to tell you about the other dimension of the orderbook.
You can see the full orderbook with the API.
Just because there's 400 contracts of liquidity doesn't mean its all at the top. For the best bid and ask.
If you use the api you'll be able to visualize it but they probably do it like what you said, at increments. And this way there will be liquidity when they remove some bids at the front of the book to shift price.
Website isn't loading properly for me.
"Balance," "Margin," and "Free Margin" are in a perpetual 'loading' state, and there are no quotes for the near-term contracts.
Uh, ok my balances are back, but quotes on near contracts are absent ... hmmm.
Buyer beware, we are still in Beta ...
"Balance," "Margin," and "Free Margin" are in a perpetual 'loading' state, and there are no quotes for the near-term contracts.
Uh, ok my balances are back, but quotes on near contracts are absent ... hmmm.
Buyer beware, we are still in Beta ...
Ok, gotta beware here, because it appears the market makers play games. (Lol, that sounds funny, right? Its like discovering that politicians lie ...)
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
OP: What is going on here?
there is a bid for ~400 contracts at a stated price - lets say .00355.
I post a Sell Limit order for 50 contracts at .0035
I get filled 10 contracts at .00355
And I'm left with an open order for the remaining 40 while the bid has been pulled back to, let's say .00335.
It is like they are gaming my orders. That is not cool ...
Interesting, I put on the same trade again, newest contract, and somebody narrowed the buy/sell spread dramatically.
The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...
maybe OP could should shed some light on who / how many entities are making markets?
The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...
maybe OP could should shed some light on who / how many entities are making markets?
I think there are multiple market makers. It might also be a glitch. It should have triggered right?
Also note that usually its the exact same but if someone has an order on only one, it might be better to buy a put then write a call. And its the exact same for binary options. (but price might be different)
Yeah, it didn't trigger ... that was odd ... wish I had taken a screenshot. Anyway, I've made another deposit and I'll be on the site a bit. If I see it again I'll definitely take a screenshot right way ...
Interesting, I put on the same trade again, newest contract, and somebody narrowed the buy/sell spread dramatically.
The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...
maybe OP could should shed some light on who / how many entities are making markets?
The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...
maybe OP could should shed some light on who / how many entities are making markets?
I think there are multiple market makers. It might also be a glitch. It should have triggered right?
Also note that usually its the exact same but if someone has an order on only one, it might be better to buy a put then write a call. And its the exact same for binary options. (but price might be different)
OK, 22.8% profit in about 30 minutes, lol. That was fun ... 
So this is how you create degenerate gamblers.
I'm a dye-in-the-wool degen poker player. Don't blame this site for my downfall ... lol.
Interesting, I put on the same trade again, newest contract, and somebody narrowed the buy/sell spread dramatically.
The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...
maybe OP could should shed some light on who / how many entities are making markets?
The bid was higher than the ask ... no kidding. I was just about to take a screenshot when it disappeared. Must be multiple market makers. The opportunity wasn't huge, not sure if it would have exceeded trading costs ...
maybe OP could should shed some light on who / how many entities are making markets?
OK, 22.8% profit in about 30 minutes, lol. That was fun ...
So this is how you create degenerate gamblers.
OK, 22.8% profit in about 30 minutes, lol. That was fun ...
Hi, what do you mean by 'vertical order book' ?
I set up my Coinut account a couple days ago, not sure what link I used ... sorry.
Totally fine that you didn't use my ref link.
So currently it shows a strike price and the best bid, best ask, and the bid amount and ask amount.
Those liquidity amounts are for the whole order book. If you place a limit order at the best bid or best ask I don't think you'll get a total fill.
It's hard for them to show that order book too as there isn't enough room. But you can see it if you access the api.
Hi, sending my first modest deposit right now. I'm going to start by selling longer-dated binary puts, and see how it goes. (I'm starting with only some of my online poker winnings, so I can afford to lose it ... lol.)
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
Ok, I just made my first trade, and did the exact opposite of what I said I would do. Guess I am a gambler ... lol.
Sold some calls with a 237 strike, expiring in about 21 minutes ... lol, we'll see how it goes. I'm thinking whoever sold btc down a couple hours ago likely isn't done. Or more precisely, that is what I'm thinking everybody else is thinking. Twenty percent return in thirty minutes would be nice ... :-)
Famous last words ...
good luck. I've had some terrible luck
I had 99 6.17x CALLs with a strike of 248. It ended up settling at 247.96
And another time I bought an out of the money call that was close to being positive but we just went sideways slightly under my strike.
Yup looks like they created a 30 minute one for the gamblers.
They still have a 4 hour one, daily, weekly, biweekly/monthly (not sure)
Vanilla options just got added recently but I think they'll be adding more contracts in the future. And before they add long term contracts they'll need to do mid term and then if they are able to get liquidity they'll be able to launch a VIX product.
Also interesting is that they changed option strikes from $2 to $4 which is good. And they added some more strikes for the shorter term binary options. I think that's also good and now more stuff can be traded. Which means a nicer spread in prices.
So 30 min recently switched. Index is at 236.48 so lets look at the cost of the contract.
1.63x for Calls
1.51x for puts
Those odds are actually quite good. We'll have to see if the market maker needs to adjust.
And there's a vertical orderbook too so all the liquidity isn't right at the top.
I waiting for a full changelog since they made a lot of changes.
If you're interested in trading at coinut consider using my referral link in my signature.
Hi, what do you mean by 'vertical order book' ?
I set up my Coinut account a couple days ago, not sure what link I used ... sorry.
Hi, sending my first modest deposit right now. I'm going to start by selling longer-dated binary puts, and see how it goes. (I'm starting with only some of my online poker winnings, so I can afford to lose it ... lol.)
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
Ok, I just made my first trade, and did the exact opposite of what I said I would do. Guess I am a gambler ... lol.
Sold some calls with a 237 strike, expiring in about 21 minutes ... lol, we'll see how it goes. I'm thinking whoever sold btc down a couple hours ago likely isn't done. Or more precisely, that is what I'm thinking everybody else is thinking. Twenty percent return in thirty minutes would be nice ... :-)
Famous last words ...
Hi, sending my first modest deposit right now. I'm going to start by selling longer-dated binary puts, and see how it goes. (I'm starting with only some of my online poker winnings, so I can afford to lose it ... lol.)
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
Yup looks like they created a 30 minute one for the gamblers.
They still have a 4 hour one, daily, weekly, biweekly/monthly (not sure)
Vanilla options just got added recently but I think they'll be adding more contracts in the future. And before they add long term contracts they'll need to do mid term and then if they are able to get liquidity they'll be able to launch a VIX product.
Also interesting is that they changed option strikes from $2 to $4 which is good. And they added some more strikes for the shorter term binary options. I think that's also good and now more stuff can be traded. Which means a nicer spread in prices.
So 30 min recently switched. Index is at 236.48 so lets look at the cost of the contract.
1.63x for Calls
1.51x for puts
Those odds are actually quite good. We'll have to see if the market maker needs to adjust.
And there's a vertical orderbook too so all the liquidity isn't right at the top.
I waiting for a full changelog since they made a lot of changes.
If you're interested in trading at coinut consider using my referral link in my signature.
Hi, sending my first modest deposit right now. I'm going to start by selling longer-dated binary puts, and see how it goes. (I'm starting with only some of my online poker winnings, so I can afford to lose it ... lol.)
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
The very short-dated contracts - you are running them every 30 minutes it seems ... I'm thinking your system isn't going to be able to keep up amid the sort of volatility that BTC has seen in the past. Or maybe your system can keep up, but your liquidity provider will gap the spreads something crazy.
Still, I like your effort.
I would suggest offering very long-dated options, like stock option LEAPS. These best allow for hedging, and the time frame takes more of the short-term gamble out of it.
Sure, the short-term gamblers/traders will bring the volume and pay the bills. That is not me unfortunately, lol. I'd be most interested 3,6, 12-month contracts.
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