Compose
Write the outcome you expect as a sentence. Compose turns it into an options position and finds the venue that pays the most for your stake.
[BTC] [finishes above ▾] [$87,914] by [Thu 8 PM ▾]
[$100] → [$2,666]Each part of the sentence is a pill you can change.
Outcomes
| Sentence | Structure | Venues |
|---|---|---|
| finishes above | Split Up band, call or call spread | Split, Paradex, Derive |
| finishes below | Split Down band, put or put spread | Split, Paradex, Derive |
| stays between | Split range, or iron condor | Split, Paradex, Derive |
| finishes outside | Strangle | Paradex, Derive |
| big move either way | Straddle | Paradex, Derive |
The three numbers
- Payout: what your stake comes back as, at most, stake included. "5.3×" on $100 is $530 back, not $530 profit. For a band the tooltip says where it starts and where it is full ("Pays part from $X, all past $Y").
- Chance: the chance of any payout, from option prices. An estimate, not a promise. For a range it is the chance it ends in range; for outside, the chance it ends outside. It never shows below "<1%".
- Closes in: time to expiry.
The button reads Buy $100 → $524. A trailing "est." means the price is an estimate.
Firm prices
On Paradex and Derive, press Get live price. Market makers send a price you can buy at, good for about 30 seconds. Nothing is bought until you confirm. If makers quote less than your full stake, the button says how much fills ("Quote: $62 fills").
Fees are taken inside your stake: Compose sizes the position so cost plus fee fits what you typed. If a venue's fee can't be read, the review says "Fee shown after fill" rather than showing zero.
Review
| Split | Paradex, Derive |
|---|---|
| You get, You risk, Max payout, Break-even | Max loss, Cost, Fee, Total |
Both end with: "The most you can lose is what you put in. No liquidation."
Other ways in
- Modes: Sentence, Draw (drag a zone on the chart), Ladder, Swipe, Group.
- Surprise me suggests an outcome with at least a 2% chance. Another or Trade it.
- On a phone, Options opens a guided version that asks one question at a time ("How high?").
Next: Routing across venues.