BitWell Simple Options Newly Revamped with Guide

Dear Users,

In order to provide you with a better trading experience, we have updated a new version of simple options. Now, you only need to select the currency and period, choose call or put, then select the strike price and fill in the quantity(conts) to place the order.

  1. The list of trading pairs on the left side of the quick selection bar, consistent with the Options Chain T-quote.
  2. Below the quick selection bar, directly display the current index price of the selected currency, no longer display the trend of the market.
  3. Change the order interface to card type, cancel the leverage multiplier selection. You only need to select the strike price and click ‘Buy’. If you want to sell the options contract, click ‘Sell’ button directly to operate.



The new version of Simple Options interface description and guide.

Beginner’s Guide

Click ‘Beginner’s Guide’ at the top right, three steps will pop up at the bottom to guide the process of placing orders, we suggest users read the guide first.

Quick Selection Bar

The left side of the interface is the options species quick selection bar, you can directly locate a species, select the expiration (the default is the most recent expiration of BTC when entering the page). At the same time, you can check the current index price of the selected currency at the bottom.

The elements of the order interface and placing order process (choose ETH options as an example)

1. Select ETH in the left quick selection bar, the expiration is May 21, and then choose the direction(Call or Put) in the order interface.

2. Click the arrow in the drop-down box to select the strike price. The leverage behind the strike price is the reference leverage, which is automatically calculated by the system in real time, so you don’t need to choose it actively, you only need to select the price.

3. Manually enter the conts of orders to be placed.

4. Contract multiplier. Take ETH as an example, the contract multiplier is 1, that is, 1 cont ETH options contract represents 1 ETH. When you select ‘Put Options’ , conts 1, it will display ‘ Put 1 ETH’. If the conts are 10, then display ‘put 10 ETH’.

5. The premium price required for a single options contract, for example, for ETH-2800-Put, the premium for a single contract is 7.14 U. If you place an order for 10 contracts, the premium will be 71.4 U.

6. Calculator. You can click to make a simulation calculation before placing an order for reference.

7. Check the status of unfilled orders.

8. Click on the details, you can expand to view the specific instructions of the current order you want to place. This function can also be used as your final reference and check before placing an order.

9. Click ‘Buy to Open’, make the final confirmation of quantity and premium in the pop-up window, and place the order.

10. When you already have a position, click ‘Sell’ to close the position of the options contract by selling.

Risk Warning:

Cryptocurrency investment is innovative blockchain products, and subject to price fluctuation. Please judge your risk-taking ability rationally and make your investments with caution.

BitWell is not responsible for any direct, indirect or consequential losses as a result of the cryptocurrency trading and holding.

BitWell Team
2021/05/17



BitWell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain derivatives trading services.

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