Dear OKX Users,
To empower options traders with advanced functionality, OKX will launch a new IV/USD-based option order feature starting September 8, 2023, at 2:00 PM (UTC+8). This update initially rolls out on the OKX Web platform, with mobile app support to follow in a subsequent announcement.
Key Features of the IV/USD Order System
1. Implied Volatility (IV) Limit Orders
- Users can set limit orders based on their target implied volatility (IV) for selected options contracts.
- The system dynamically recalculates the BTC/ETH-denominated option price every 3 seconds using the Black-Scholes model, ensuring the order's volatility remains pegged to the user's input.
2. USD Price Limit Orders
- Traders may specify option prices in USD for limit orders.
- The platform continuously adjusts the BTC/ETH price in the order book based on the USD target and current index price, updating every 3 seconds.
Currency Display Adjustments for Options Trading
- Simplified Pricing: Option prices and order/position quantities will now display exclusively in cryptocurrency (BTC/ETH) or USD, removing local currency conversions.
- Index Clarity: BTC/ETH price indices will only reflect USD values, streamlining data presentation.
How to Use the IV/USD Order Feature?
- Navigate to the options limit order page.
- Enable the "Track Order" toggle.
Select either IV-based or USD-based pricing for your limit order.
- Traditional BTC/ETH-denominated orders remain available.
👉 Master advanced options trading strategies with OKX's cutting-edge tools.
Frequently Asked Questions (FAQ)
Q1: When will the IV/USD feature be available on the OKX app?
A1: The mobile version is under development and will be announced separately upon release.
Q2: How frequently does the system update order prices?
A2: Prices adjust every 3 seconds to maintain alignment with your specified IV or USD target.
Q3: Can I still place orders in BTC/ETH after this update?
A3: Yes! The update adds IV/USD options while preserving existing cryptocurrency-denominated orders.
OKX remains committed to delivering innovative trading solutions and exceptional service. Start leveraging smarter options strategies today!
👉 Explore OKX's advanced trading features for a competitive edge.
Last Updated: September 8, 2023
OKX Team
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