Options desk
A full options chain across Split, Paradex and Derive, with a strategy builder, RFQ, and one blotter for every venue. Open Options in the top nav.
Venues
The strip at the top reads Split, then Venues: Best Route, Paradex, Derive.
| Choice | Chain shows |
|---|---|
| Split | Split's bands for the round. Sides are Up and Down; the centre column is the payout band. |
| Paradex, Derive | That venue's calls and puts |
| Best Route | Paradex and Derive merged. Each cell shows the better price and its venue's logo. Hover to see both venues' bid and ask. |
Underlyings and expiries come from the venues. The desk opens on the first expiry with at least an hour left.
Chain
Calls on the left, puts on the right, strike in the middle. Columns from the outside in: Δ, IV, Mark, Bid, Ask. Wide screens add gamma, theta, vega and open interest.
- Bid: the highest anyone will pay. Click to sell into it.
- Ask: the lowest anyone will charge. Click to buy it.
- Mark: the venue's model price. Not executable.
- Flow + adds a column showing where option premium traded per strike over 24 hours.
Strategies
Pick a strategy offers:
| Group | Templates |
|---|---|
| Directional | Call, Put |
| Defined risk | Call spread, Put spread |
| Volatility | Straddle, Strangle |
| Range | Iron condor, Butterfly |
| Custom | Up to four legs |
On Split the picker is Pick a trade: Up, Down, Range, Outside, Target, Custom.
Drag strike handles on the chart to move legs. Payoff at expiry shows max profit, max loss (or "Unlimited") and break-even.
Orders
| Venue | Order types |
|---|---|
| Split | Signed quote from the pool |
| Paradex | Market, Limit, RFQ |
| Derive | Limit, Market, RFQ for multi-leg |
Default size is $25. Size in dollars or contracts. A limit rests on the book until filled or cancelled.
RFQ
Multi-leg orders on one venue go out as one RFQ.
- Request RFQ for $X. Makers respond; the status reads "RFQ live, waiting for market makers".
- The button becomes Execute and pay $X at the best quote.
- Position opened for $X.
Quotes expire. Request new quote fetches another. Orders can fill partially.
If the legs are cheapest on different venues, the ticket shows each route ("Best routed debit $X", "Routing saves $X against the best single venue"). Legs then fill as separate orders on each venue.
Paradex book orders have a $20 minimum (size × mark). Quote requests have no minimum.
Hedge Delta
For a sized position on Paradex or Derive with delta, Hedge Delta shows the perp size needed to flatten it and ranks perp venues by funding. Open prefilled hedge opens Perps with the order filled in. It does not place the hedge for you.
Simulation
Simulate under the main button adds the legs to a paper book. Fills are at the live bid or ask, with no depth limit. Simulated trades are stored in your browser, separate from real positions.
Blotter
Tabs: Positions, Open Orders, Trades, RFQ History, Simulated. Positions from every venue are in one table with size, paid, value, P&L, delta and theta per day.
On a phone
The Options tab opens a guided flow: pick a direction, pick a trade, then review the ticket with its route.
