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Trading Options on Zeta - Web
A how-to-trade guide for trading on Web using Zeta's options interface
This page provides an overview of how to trade option on Zeta. If you would like to learn more about trading options, please refer to our education guides. To learn more about how Zeta works under the hood visit our docs here.
NOTE: You can also take an in app tour which will walk you through how to trade by expanding the Help dropdown and clicking "Tour".
Getting Set Up
- 1.Select and connect your wallet so that you can begin using Zeta.
- 2.Navigate to trade using the bottom navbar and select options.
- 3.Now lets select an option to trade!You can choose call options and put options. Learn about call options here:
Learn about put options here:- 1.
- 4.Select the expiry - this is the date and time at which the option will be exercised and settled depending on the price of the underlying at the time of expiry.
- 5.Select the strike price - this is the price that will be compared to the SOL price at expiry to determine if your option expired in the money or not.
- 6.Once you have selected your option you can then enter your trade details on the trading panel. Enter the price you are willing to buy/sell the contract at and the qty of options you would like to buy/sell. For convenience we have selected the market price by default.
Some key definitions to take note of here are:Initial Margin: This is what you must pay to place your trade on the orderbook (note this is less than the trade value as we have undercollateralized trading).Trade Value: This is the value of the contracts you are purchasing. Trade value = Price Per Option x Quantity of Options.Maintenance Margin: This is how much capital you must keep in your wallet to keep a position open once it is filled. - 7.You can view your positions and orders in your account panel where you can keep track of all your positions, orders and your key account metrics.
A few key terms to understand:Available Balance: This is the capital available in your account for trading.Total Trade Equity: Is the total value of your account and trading portfolio. It Is calculated as follows: Account Balance + Unrealized PnL.Total Maintenance Margin: Is the capital in your wallet set aside to keep your positions open. Total Initial Margin: Is the capital in your wallet set aside to keep your orders open.Net Unrealised PNL: Is the total profit and loss from the positions in your portfolio. Liquidation Buffer: Is the capital protecting you from liquidation, once this hits 0 you will be liquidated. - 8.You can expand a position by clicking the grey arrow to reveal information and actions for your position. Simply click "Close Position" to close a position before it expires. In a similar fashion you can cancel open orders before they execute.
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Contents
Getting Set Up