BitWell Options Contract Specifications

Note: BitWell options products are currently European options, which means that the party buying the options can only exercise it on the options expiration date.

I. Options Contract Specifications

1.Main Options

Contract varietyUnderlying assetContract periodPrice accuracyContract multiplier
BTC OptionsBTC/USDT indexCurrent week, next week, current month2 decimals0.1
ETH OptionsETH/USDT indexCurrent week, next week, current month2 decimals1
TRX OptionsTRX/USDT indexCurrent week, next week2 decimals1000
XRP OptionsXRP/USDT indexCurrent week, next week2 decimals100
BCH OptionsBCH/USDT indexCurrent week, next week2 decimals0.1
LTC OptionsLTC/USDT indexCurrent week, next week2 decimals1
Contract varietyPosition opening modeexercise methodSettlement assetsMargin
BTC OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
ETH OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
TRX OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
XRP OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
BCH OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
LTC OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT

2.Defi Options

Contract varietyUnderlying assetContract periodPrice accuracyContract multiplier
LINK OptionsLINK/USDT indexSame day, next day2 decimals10
UNI OptionsUNI/USDT indexSame day, next day2 decimals50
Contract varietyPosition opening modeexercise methodSettlement assetsMargin
LINK OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
UNI OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT

3.Innovative Options

Contract varietyUnderlying assetContract periodPrice accuracyContract multiplier
DOT OptionsDOT/USDT indexSame day, next day2 decimals50
OKB OptionsOKB/USDT indexSame day, next day2 decimals50
Contract varietyPosition opening modeexercise methodSettlement assetsMargin
DOT OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT
OKB OptionsOpen position, Sell and open positions on margin, Covered CallAutomatic exerciseUSDTUSDT

II. Timing of the exercise of options

Note: Exercise times are based on Singapore time (SGT, UTC+8).

Options periodExercise dateExercise time
Daily OptionsDaily17:00 daily (UTC+8)
Weekly OptionsEvery FridayExercise day 17:00 (UTC+8)
Monthly OptionsLast calendar day of each monthExercise day 17:00 (UTC+8)

Ⅲ. Options Contract Elements

Take BTC Options as an example:

Contract ElementsDetails
Underlying ContractBTC Index. That is, 5 mainstream exchange BTC/USDT trading pairs volume weighted average price.
Coding methodBTC-[Expiration date]-[Exercise Price]-[P|C], e.g. BTCUSDT-0930-7500-P, represents a put option expiring on September 30 with a exercise price of 7,500 USDT. Where C denotes a call and P denotes a put.
TypeEuropean options
Contract Unit0.1 BTC, i.e. each option contract represents 0.1 BTC.
Order and Settlement CryptoUSDT
Contract Expiration DateCurrent week, Next week
Exercise Price and IntervalThe platform will determine a reasonable exercise price and interval, which will be adjusted according to different market conditions.
Delivery MethodSettlement of spreads in USDT. Automatic delivery of open positions in real value will be made after the option expiration date.
Expiration DateExpiration date (i.e. Friday of the week the contract expires) 09:00 UTC time
Trading Hours24 hours
Smallest Order Unit0.01 USDT
Position Opening ModeBuy to open position, Sell to open position, Sell and open positions on margin, Covered Call
Theoretical Reference PriceCalculated by BS formula
Option Settlement PriceTo prevent abnormal fluctuations in the index, the option settlement price is the average of the index minute closing price one hour before settlement.



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