One Touch Range Bet
How does it work?
Win a multiple of your stake if at any time before the bet expires, the asset price touches or goes past either of the two chosen strike pricesIf at the time the bet expires, the asset price has never touched either of your two strike prices 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 it will either touch 10,100 or 10,900 at any time in the next 10 market days and wants to win $1,000 if it does. He pays a stake of $200.After 6 days the Wall Street Index touches 10,900. The bet instantly closes and the trader wins $1,000. He would also have won if the Index hit 10,100 within the 10 days.
If the Index had not touched 10,100 or 10,900 at the time of expiry the trader would win nothing, but would only lose the $200 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.
