Buy an option
Buying gives you leveraged upside on BTC for a fixed period. Your maximum loss is exactly what you put in.
The buy flow
The app walks you through three steps.
1. Pick when, and the price BTC should go above
Choose a term and a strike (a percentage above the current BTC price). The strike locks in USD the moment you confirm.
Higher strikes typically cost less and offer more leverage, because the chance of BTC reaching them is smaller. Lower strikes are more expensive but more likely to pay. More on the trade-off in Write or Buy.
2. Choose how much to put in
Set the amount you want to put in. The app shows the resulting leverage.
The amount is your maximum loss. You can't lose more than this.
The app picks the best available offer matching your strike and term. You can take it in full or just a portion.
3. Review and confirm
The review screen shows strike, term, amount, leverage, max profit, and the platform fee on profit. Slide to confirm and sign in your wallet.
What happens next
The option appears in your Portfolio under Active. At expiry it settles automatically.
Expiries land on the top of the hour. A 7-day term accepted at 12:01 expires at 13:00 seven days later.
- BTC closes above strike: profit settles to your account in BTC.
- BTC closes at or below strike: the option expires worthless. You lose what you put in.
You don't sign anything at expiry.
Limits
Minimum purchase: 500 sats (0.000005 BTC).
Worked example
You put in 0.1 BTC on a 7-day, +10% strike call with BTC at $100,000. That's roughly 67x leverage on what you put in.
- Strike locks at $110,000.
- Max loss: 0.1 BTC.
- Breakeven at expiry: $111,675.
| BTC at expiry | % above strike | Your net result | Net USD value |
|---|---|---|---|
| $95,000 | n/a (under) | −0.1 BTC | ~−$9,500 |
| $111,675 | 1.5% | 0.00 BTC | $0 |
| $115,000 | 4.5% | +0.19 BTC | ~$21,850 |
| $130,000 | 18% | +0.93 BTC | ~$120,900 |
| $150,000 | 36% | +1.68 BTC | ~$251,700 |
The bigger the move above strike, the bigger your payout. Below strike, your loss is fixed at what you put in. Profits are subject to a 20% platform fee.