This is what the options trading interface looks like:
the BIT supports BTC and ETH as underlying assets of its option contracts. There are a few basics that you need to know about options trading:
- Expiration Date
All the option contracts that are listed on the exchange are European-style. This means that they have a specified expiry date, and the exercise of the option can only happen at expiry. There are daily, weekly, and quarterly option contracts on the exchange.
- Strike Price
This is often times referred to as the exercise price – it’s the predetermined price of the asset at which it may be bought or sold according to the option contract.
- Option Premium
This is the price that the option buyer pays for buying the contract. In turn, the option seller earns the option premium as a reward for their obligation. There are multiple factors that determine the premium.
BIT uses a tiered approach based on the trading volume of the user. you may refer here for the trading fee.