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DeFi's
Options
Protocol
$0M+
Notional Volume Traded
0
Options Trades
0
Active Options Series
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WHY
OPTIONS?
HEDGING
Hedging with options allows traders to reduce risk. Put options can provide a form of insurance, ensuring a position's max loss and protecting your portfolio against a market downturn.
YIELD
One of the main reasons investors trade options is to generate income. Similar to yield farming, options can be used to earn yield or generate an income in any market condition.
LEVERAGE
Leverage allows traders to use less money to gain exposure to the movement of an asset's price. Options have similar market exposure to owning an asset, but require less money, allowing for more leverage and flexibility for your portfolio.
FLEXIBILITY
Options may provide profits in any market condition – up, down, or flat. That means you can speculate on the future price of an asset, whether it goes up, down, or trades within a range.
OPTIONS
101
DELTA
SENSITIVITY OF
OPTION’S PRICE TO THE UNDERLYING PRICE
Delta (Δ) explains how an option will react if the price of the underlying asset changes, and it can give an idea of whether an option will end up in-the-money at expiration. Values range from 1.0 to –1.0.
THETA
SENSITIVITY OF
OPTION’S PRICE TO THE PASSAGE OF TIME
Theta (Θ) tells us how an option’s price changes as time goes by. All options eventually expire. As they approach expiry, they decrease in value. Theta tells us how quickly this decline takes place. A -.5 theta means an option goes down $.50 every day.
GAMMA
SENSITIVITY OF
DELTA TO THE UNDERLYING ASSET PRICE
Gamma (Γ) expresses the rate of change in an option's delta per 1-point move in the underlying asset's price. In other words, Gamma explains convexity, or the slope of delta. It is expressed as a percentage.
VEGA
SENSITIVITY OF
AN OPTION’S PRICE TO IMPLIED VOLATILITY
Vega (V) explains how an option's price changes as (implied) volatility of the underlying asset changes. All options go up in value when the market predicts increased future volatility.
RHO
SENSITIVITY OF
AN OPTION’S PRICE TO INTEREST RATES
Rho(ρ) expresses the relationship between interest rates and an option’s price. If negative, an option will go down in value if interest rates go up. If positive, an option’s value will go up if interest rates go up.
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SECURITY
PROTOCOL SECURITY IS OUR TOP PRIORITY
Opyn has been audited by OpenZeppelin and Peckshield, and formally verified by Certora.
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INTEGRATIONS
Ribbon Finance
Earn high yield on your cryptoassets with automated option strategies
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Opeth
Fuse put options with underlying collateral to issue stablecoin loans
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Gamma Portal
Advanced options chain, oToken Factory, and OTC trades
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Fontis Finance
Earn high yield with automated option strategies
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Optional Finance
Deposit funds into managed vault-style tokens to earn yield
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Opyn Trade Bot
Twitter bot that that tweets live trades and platform analytics
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Opyn Monitor
Advanced interface for users to keep track of their Opyn v1 positions
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