Introducing Customised Options on Oddz
Now Maximise Profits By Using Your Own Strategies
Snapshots:
- Now earn maximum profits by trading with your own strategies. Oddz provides you with the best UI to further simplify options trading.
- You don’t need to do KYC or pay high gas fees to trade options on DeFi!
- Take advantage of these American style options and exercise your contracts before they expire!
Are you an experienced options trader looking for a platform to customise and trade an option based on your trading strategies?
While Easy Options have been developed for all types of options traders, we realized there is a need for a more dynamic product that could fulfil the needs of options traders in the cryptocurrency markets. As the cryptocurrency market grows, and as more traders start trading in the options market, there will be many traders devising their own strategies based on their analysis of the market.
We are excited to announce — Customised Options, which will allow experienced traders to trade different options based on their unique trading strategies. As the name suggests, not only are the contracts customisable, meaning users can freely change the parameters covering their automated trading positions according to their own preferences and own trading strategies. The other benefit of trading on Oddz is that it does not charge gas fees for each transaction made on the platform.
There are also low barriers to trading on Oddz Finance. Users can leverage any amount in on-chain option trading products without the need for any authorization or third-party approval. Traders can also establish informed positions around the market. This is possible because the platform has integrated a built-in oracle that feeds real-time blockchain data to the network. Till the development of its built-in oracle is complete, Oddz will integrate Chainlink’s Implied Volatility Data Feeds to get access to its transparent, robust and up-to-date data feeds.
How to use Customise Options?
Connect your Wallet to the platform and select customise options.
A dashboard appears which shows the price chart for the asset class, along with the information related to your options contract. You can select any cryptocurrency of your choice. Just click on the dropdown button and select any one of the options.
You will only be able to trade in BTC and ETH options contract for some time. More tokens will be added soon!
Based on your trading strategy, risk appetite and your requirements, you can select the quantity of the underlying asset you wish to trade. Please note that you can trade as low as 0.1 units of any asset selected.
Once you are done selecting the quantity, expiration duration and your strike price, our inbuilt advanced ML algorithm will take the up-to-date Chainlink Implied Volatility Data Feed to calculate the premium on the contract customised by you.
On the right-hand side of the screen, you can check the price chart of the cryptocurrency and also check your breakeven price. You can quickly verify how your PnL will change as the price of the underlying asset changes. Once you are done verifying the contract, click on the Buy Option button.
Verify the transaction fee, along with the premium you have been asked to pay. Once verified, an equivalent amount will be deducted from your connected wallet and your new options contract will be visible under Positions.
You can keep a track of all your current contracts, view the expired ones and also book your profits or exercise the options whenever you want to.
Watch the demo to Customised Options here.
About Oddz
Oddz Finance is a trustless On-Chain Option trading platform that expedites the execution of call and put options contracts, conditional trades, and futures. It allows the creation, maintenance, execution, and settlement of trustless option contracts, conditional tokens agreements, and futures contracts in a fast, secure, and flexible manner.
It employs the synergies of Ethereum, Binance Smart Chain, and Polkadot to unleash the potential decentralized derivatives market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience.
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