Choose your strike and choose your expiration?

False_Profit

Hello Everyone,

New here and new to binaries.

Are there binary brokers that closely approximate the regular options markets like the CBOT, OPRA, etc? That is...

1. A broker that will permit the trader to select from an assortment of strikes regardless of the current underlying price?

So far, I have only seen brokers that allow one to choose a strike when the underlying price is at the desired strike price.
As you know, regular options permit one to select a particular strike regardless of the underlying price when the trade is executed.

I have learned that selecting a specific strike in advance is not essential for some binary types such as range and kiko.
Often one can only take or leave what the broker offers.

2. I have seen that one can choose in advance from several expiration times. That's good enough for me.
That is like regular options although the available binary expiration times/dates are much fewer.

3. I expect a broker that offers the features I mentioned would adjust the odds-payout pursuant to the strike and expiration selected.
That is OK even though the task remains to find offers with risk/rewards that make sense.

Thanks for making this forum available and for any info you may provide.

Best to all,
F_P

lotzofbotz

If you are in the U.S. you don't have any option outside of NADEX bin wise and they are more american style options with ceilings/floors as well as time decay so if you are not more advanced I would stay far away from it as you will only be throwing money away. Nobody points this out but NADEX has horrible pricing mechanics and is simply a rip off with their market makers taking advantage of the low liquidity to make up for the lack of volume = you get crap prices and is why most complain about their platform or risk vs reward being so out of wack. The only other option you have is a company like binary.com which allows you to create custom times but that is not available to U.S. traders due to our strict regulations.

False_Profit

Thanks lotzofbotz.
I am in the U.S. (and thankfully so).

I checked out NADEX long ago. I was shocked by the outlandish spreads and ran the other way.
It appears they haven't changed and are still in biz?! There is one born every minute.

I vaguely recall that one of the exchanges (CBOT or another) began offering some form of binary option.
Dunno the volume/liquidity/spread/margin situations. I'll check it and post again if anything of interest.

Best,
F_P