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Huobi Futures to Launch Options Trading This Week, Joining Throng Challenging Deribit

Huobi Futures will offer bitcoin options starting Tuesday, aiming to meet demand from traders for ways to hedge against risks in crypto markets.

Aug 31, 2020 at 4:32 p.m. UTC
Updated Sep 14, 2021 at 9:50 a.m. UTC

Huobi Futures, the crypto derivatives unit of Huobi Group, said Monday it will offer trading in bitcoin options starting Tuesday, aiming to meet a surging demand from traders to hedge against risks in cryptocurrency markets.

  • Options contacts on bitcoin (BTC) will be available for trading, starting from 10:00 UTC on Sept. 1, according to a press release
  • Huobi’s options will be quoted in tether (USDT), a dollar-backed stablecoin.
  • The exchange will offer weekly, bi-weekly and quarterly options contracts. Option purchasers will be able to exercise their right to buy or sell only on expiry.
  • A call option represents a right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A put option represents a right to sell.
  • “Options will give users a robust set of tools to execute more sophisticated trading strategies,” said Ciara Sun, vice president of global business at Huobi Group.
  • Huobi’s decision to launch bitcoin options comes at a time when institutional participation in the cryptocurrency is growing and bitcoin is increasingly taking cues from traditional markets and central bank decisions.
  • Currently, Deribit is the largest bitcoin options exchange by open interest and daily trading volume. The exchange accounts for more than 85% of total options trading volume of $136 million, according to data source Skew.
  • Other exchanges competing for a share of bitcoin options trading include CME, LedgerX, Bakkt and OKEx, according to Skew.

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