Learn
Learn crypto options on real Bitcoin prices.
17 short lessons, from your first option to a strategy that runs itself, and plain answers to what crypto traders search. Free, no account needed.
- 17 lessons · 1 h 48 min
- 20 guides and terms
- Every example on real Delta Exchange quotes
Beginner
From zero to a first paper trade.
- 01What is an option?A small amount today for a right you can use later. The idea behind everything else.5 min
- 02Buying a callYou think the price will go up. See what you make, and exactly where the loss stops.6 min
- 03Buying a putThe mirror of a call. You gain when the price falls. Also the first tool for protecting what you hold.6 min
- 04In, at, out of the moneyThree phrases that describe where the price is compared to the strike. You will hear them constantly.5 min
- 05Selling an optionBe the insurance company. You take the premium and the duty. See where "unlimited loss" really begins.8 min
- 06Time: why the same option is cheaper on ThursdayAn option is a right with a deadline. Every day that passes, the right is worth a little less.6 min
- 07Volatility: calm market, wild marketWhen the market is jumpy, every option costs more. Sellers love calm; buyers need moves.6 min
- 08Lots and moneyHow a move of 1,000 in Bitcoin becomes 10 USDT in your account. The one sum you must be able to do.4 min
- 09Breakeven and chance of profitThe price where you neither gain nor lose, and how likely the market thinks you are to end up past it.6 min
- 10Your first paper tradeDo it for real, with no real money. Same quotes, same engine, paper mode.5 min
Advanced
Hedging, adjustments, stops and automation.
- 11Hedging: cap the risk on one sideAdd one bought option to a sold one. The cliff becomes a floor. This shape is a spread.8 min
- 12Hedging both sides: the iron condorA sold strangle earns in a range but loses without limit either way. Two wings fix both sides.8 min
- 13Bullish with limited riskA bought call versus a bull call spread. Pay less, give up the moon.6 min
- 14Adjustments: the price walks into your strikeYou sold a strangle. The price is now 200 from your sold call. Three things you can do. Try each.10 min
- 15Managing the trade: stop, target, trailingThe three lines the engine watches every second. Where they sit decides how a week feels.8 min
- 16When to use weekly, when to use dailySame strategy, different expiry. Daily options melt faster; weekly give the move time to happen.6 min
- 17Making it automaticEverything you did by hand in these lessons, the engine can do on a rule. Where each control lives.5 min
Crypto guides
What a crypto trader asks before options.
- How to trade Bitcoin options in India?Bitcoin options for Indian traders are listed on Delta Exchange India, priced in USDT, with an expiry every day.Read the guide
- What is the funding rate in crypto?The funding rate is a regular payment between traders holding long and short positions in a perpetual future.Read the guide
- What is a perpetual future in crypto?A perpetual future, or perp, is a futures contract with no expiry date.Read the guide
- Crypto options vs futures: what is the difference?A future or perpetual gains and loses one for one with Bitcoin, and the loss is limited only by your margin.Read the guide
Glossary
The words option traders use, each shown on today's Bitcoin numbers.
- DeltaWhat is delta in options?
- GammaWhat is gamma in options?
- VegaWhat is vega in options?
- Option GreeksWhat are the option Greeks?
- Open interestWhat is open interest in options?
- Max painWhat is Bitcoin max pain?
- Put-call ratioWhat is the put-call ratio in Bitcoin options?
- Expected moveWhat is the Bitcoin expected move?
- StraddleWhat is a Bitcoin straddle?
- Short strangleWhat is a Bitcoin short strangle?
- Intrinsic valueWhat are intrinsic and extrinsic value in options?
- Option chainHow do you read a Bitcoin option chain?
- Credit and debit spreadsCredit spread vs debit spread: what is the difference?
- Iron butterflyWhat is a Bitcoin iron butterfly?
- Expiry timeDelta Exchange options expiry: when do options expire?
- Option feesHow are Delta Exchange option fees charged?
Learn it here. Practise it on paper.
Every tool in Algoclear is free to explore: the option chain, Easy Options, the strategy builder and more.
See the toolsOptions trading carries risk, and you can lose money. Algoclear is a trading tool, not investment advice.