How to create, execute, and destroy options on Dex Brokerage

Step 1 — Navigate to the options page

Step 2— Select the options pair you wish to trade

Select “Call” or “Put”, then select the month, and then select the date. In the below example Nov, 2018 is selected, and then Nov 9th, is selected.

Options tokens are filtered by type, year, month, and date.

Step 3— Creating an option

Note: Options are created,executed, and destroyed directly from your wallet balance, NOT the balance you hold on the exchange.

Call options:

After you create the call option you will need to deposit it into the exchange if you wish to trade it. You can view your balance by visiting the balance section on the website and viewing the “My Wallet Balance” section.

My Wallet Balance is your balance in your personal wallet. My Dex Brokerage Balance is your balance deposited on the exchange.

You can also view it on Metamask if you add the token contract address.

You must use the non-beta version of Metamask, since the beta version of Metamask doesn’t allow you to add tokens with long symbol names

Put options:

When tokens are used for the option, you must approve the option contract as a spender first. The strike is 10 TKM, so to create one put option (ETHTKM181123P00000010), you will need to deposit this into the smart contract.

Once you’ve approved the token, you can then create the put option token.

Step 4— Executing an option

To execute a call option, you need both the option token and the token used for the strike. In this case the strike is the TKM token. Again, for tokens you must approve the option contract as a spender first. As you can see below, to execute one ETHTKM181109C00000010 you will need to approve 10 TKM. Once executed you can expect to receive 1 ETH, minus execution fees.

Now that 10 TKM tokens have been given approval, you can now execute the option.

Here’s a link to the transaction for you to view more details.

Ropsten Transaction 0x1ee84ca85a682ed691f7562d0a4ead46fcac78f5cd67f8c9bf6a579d8f8bcd09

To execute a put option, you need both the option token and the first token in the option. In this case the strike is the TKM token. As you can see below, to execute one ETHTKM181123P00000010 you will need to send one Ether. Once executed you can expect to receive 10 TKM, minus execution fees.

To execute one ETHTKM181123P00000010 you will need to send 1 Ether. Once executed you can expect to receive 10 TKM, minus execution fees.

Here’s a link to the transaction for you to view more details.

Ropsten Transaction 0x4f62ae2e05572b9514df0fc22a5166c16e8e7197b1d8e25dedfe35ffecde04cc

Step 5— Destroy an option

If you have second thoughts about your option token, or you want to close your option position here’s how you do it.

Note: You can only destroy options if you have a balance in the contract

Left is before, right hand side shows balance after destroying the call option.

The way forward for Dex Brokerage

Join the conversation on Discord, Reddit, or follow us on Twitter or Medium, to stay updated on the latest with Dex Brokerage. You can now trade options on our site. For more information about the site please see our other medium posts. If you have any questions, or you want to request an options trading pair please email support@dexbrokerage.com.

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