Binary Range Bet (IN)
How does it work?
Win a multiple of your stake if the asset price is within a set range at the time the bet expires. If the asset price is out of the range at the time of expiry you win nothing but only lose the stake.How to bet
- Set two strike prices above, below or either side of the asset’s current price to create a range.
- Set how much you want to win and the expiry time of the bet.
- Then place your bet.
Example
The Wall Street Index is currently trading at 10,500. A trader bets that it will be between 10,300 and 10,700 in 50 days time and wants to win $1,000 if it is. He pays a stake of $100.After 50 days the Wall Street Index is trading at 10,400. This is within the range so the trader wins $1,000.
If the Index was below 10,300 or above 10,700 the trader would win nothing, but would only lose the $100 stake.---
Note that a 3 day bet expires in 3 market days at the same time as it was placed. A 3 hour bet expires in 3 market hours, even if this means rolling over to the next day. The same applies for bets denominated in minutes.
Binary Range Bet (OUT)
How does it work?
Win a multiple of your stake if the asset price is out of a set range at the time the bet expires.If the asset price is within the range at the time of expiry you win nothing but only lose the stake.
How to bet
- Set two strike prices above, below or either side of the asset’s current price to create a range.
- Set how much you want to win and the expiry time of the bet.
- Then place your bet.
Example
The Wall Street Index is currently trading at 10,500. A trader bets that it will either be below 10,100 or above 10,900 in 30 market days and wants to win $1,000 if either event occurs. He pays a stake of $50.After 30 days the Wall Street Index is trading above 10,900, so the asset price is out of the range and the trader wins $1,000. He would also have won if the price was below 10,100.
If the Index had stayed within the range the trader would win nothing, but would only lose the $50 stake.---
Note that a 3 day bet expires in 3 market days at the same time as it was placed. A 3 hour bet expires in 3 market hours, even if this means rolling over to the next day. The same applies for bets denominated in minutes.
