Bitso supports four options strategies today, one at a time. You hold a single position per contract, with no combinations.

Buy a call

You pay a premium for the right to buy the stock at the strike price. This usually interests you if you think the price will go up. The most you can lose is the premium.

Buy a put

You pay a premium for the right to sell the stock at the strike price. This usually interests you if you think the price will go down, or if you want to protect shares you already own. The most you can lose is the premium.

Sell a covered call

You already own the 100 shares behind the contract and collect a premium today. If the price rises above the strike, you sell your shares at that price.

Sell a cash-secured put

You set aside enough cash and collect a premium today. If the price drops to the strike, you buy the shares with that cash.