Symbol

underlying-date-strike-C or P. example: BCH-29DEC20-600-C

Contract Unit

1 BCH option contract for 1 BCH

Tick Size

0.0005 BCH

Underlying

BIT BCH Index

Expiration Time

08:00 UTC

Settlement

Settlement in BCH. The settlement price is the 30 minutes arithmetic average of the BIT BCH Index before expiration. The exercise-settlement amount is the difference between settlement price and strike price then divide the settlement price.

Mark Price

Mark price is generated by BIT risk management department

Trading Band

+/- 0.04 BCH from Mark Price

Initial Margin

Long Call

IM = 0

Long Put

IM = 0

Short Call

IM = |Position Size in BCH| * {max [ 0.25 - max [ (strike - underlying) / underlying, 0], 0.15] + option mark price}

Short Put

IM = |Position Size in BCH| * max {max [ 0.25 - max [ (underlying - strike) / underlying, 0], 0.15] + option mark price, MM}

Maintenance Margin

Long Call

MM = 0

Long Put

MM = 0

Short Call

MM = |Position Size in BCH| * [ 0.125 + option mark price]

Short Put

MM = |Position Size in BCH| * [ Max (0.125, 0.125 * option mark price) + option mark price]

Minimum Order Size

1 BCH

Incremental Order Size

1 BCH

Block Trade

Not currently supported