No Touch Range Bet
How does it work?
Win a multiple of your stake if at the time the bet expires, the asset price has never touched or gone past either of the two chosen strike prices.If at any time before the bet expires, the asset price touches or goes past either strike price you win nothing but only lose the stake.
How to bet
- Set two strike prices; one above and one below 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 is will not touch either 10,400 or 10,600 at any time in the next 3 market days and wants to win $1,000 if it does not. He pays a stake of $100.After 3 market days the Wall Street Index has not touched 10,400 or 10,600, so the trader wins $1,000.
If, for example, on day 2 of the bet the Index had hit 10,400 or 10,600 the bet would instantly close and the trader would win nothing, but only lose the 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.
