Options: Invest and Earn
Invest on a price and a date, or Earn by getting paid now to name a price. Options on Derive.
Options on noct are two simple trades on Derive. Switch between them at the top of the Options screen.
DeriveInvest: a price and a date
Pick a token, Above or Below, a price and a date. If the token is past your price when the date comes, you get the full payout. If it isn't, you lose what you put in, and never more than that.
An example: Invest $100 on ETH above $2,800 on Oct 30, paying up to 3.6×.
ETH| If ETH ends | You |
|---|---|
| at $2,800 or higher | make +$260 |
| between the two strikes | get part of it back |
| below $2,750 | lose the $100 |
Setting one up
- Drag the dot on the chart: up and down sets the price, sideways the date.
- Or press a row in the prices under the chart. Each shows its move from today, its chance and its payout.
- Or choose them on the ticket's Price and On rows.
The ticket says what it pays, how likely it is and the most you can lose, all before you place it. The smallest Invest is $25.
What it is underneath
A call spread (or a put spread for "below"): noct buys the option one strike inside your price and sells the one at your price. Selling the second caps the payout, and it's also what makes the trade cheap enough to pay a multiple.
Chance is read from Derive's live option prices: it's what the market is charging for that outcome, not a forecast. Prices only appear where someone is quoting, and any that would pay more than 50× are left out, because a quote like that is usually stale.
Earn: get paid to name a price
You set a price and a date and are paid now for agreeing to it.
- Stays below (a covered call): you put up the token's value. If it ends above your price, the gains above it go to the buyer. You keep the payment either way. Only offered for tokens Derive lists to buy.
- Stays above (a cash-secured put): you set dollars aside. If it ends below your price, you buy the token at that price. You keep the payment either way.
The smallest Earn is $50.
When it ends
Options settle at 08:00 UTC on their date, in cash, into your balance. You can also close early at the market price, for more or less than you paid. Closing early or holding to the date costs nothing more from noct.
You can trade options from the Markets window too, beside any page: Invest or Earn on any token, without the chart.