Sparrow provides versatile option trading tools catered for both beginners (simplified) and professionals (advanced).
Simplified options trading
Select “Options” on the top bar and click “Simplified”
Start trading on the simplified interface
a. On the top-left corner, you can choose between BTC/USD or ETH/USD options and set your trading chart view — 60 minutes, 4 hours, 1 day
b. On the right hand side is the configuration panel which enables you to customize your option and check option prices easily
More information on the trades can be found at the bottommost area.
a. Open Orders: Displays your outstanding orders which have not been filled
b. Fills: Displays every order quantity that has been filled by a counterparty
c. Position: Displays an aggregated summary of current positions
d. Settled: Displays all settled positions
e. Funds: Displays the status of your funds in your account
Advanced options trading
Sparrow also offers a traditional order book for professional traders who are seeking more sophisticated tools to maximize their trading performance.
Select “Options” on the top bar and click “Advanced”
Start trading on the order book
a. Choose your trading pair — BTC/USD or ETH/USD
b. Select your preferred settlement range
c. Select your order and start trading!
Qty: Quantity of assets traded
IV: Implied volatility is the market’s forecast of a likely movement in the asset’s price
Bid ($): The Instant Premium an option buyer is willing to pay for the option
Ask ($): The Instant Premium an option seller wants to receive for the option
OI: Open Interest displays the number of options contracts that are currently outstanding (open) in the market
Call option: The price at which the option owner can buy the BTC or ETH
Put option: The price at which the option owner can sell the BTC or ETH
Congratulations on making your first trade! Time to level up your trades with some options trading strategies — 3 Strategies to Combat Crypto Market Volatility with Options Trading.
Getting started at Sparrow