Buy an option
user tutorial on how to buy an option on Option Panda
By landing at the front page of Option Panda, scrolling down, you'll see the option purchase button.
First, you need to authorize Option Panda to connect to your wallet and authorize spending.
If you're a first-time user, after clicking the "BUY" button, you'll see the following popup message from Metamask, asking you to authorize USDT spending from your wallet, go ahead to click "CONFIRM".
Authorize USDT spending
After Metamask confirmation, you have authorized your wallet to spend USDT to buy options on Option Panda.
Then you can choose the underlying asset and option type you want to buy. After that, you can choose from the dropdown list your desired option expiry duration and enter the amount you want to purchase. The USDT to be spent will be calculated by smart contract and show up.
Enter the amount to buy
After filling out those parameters, go ahead to click "BUY", then you'll see the following popup from Metamask, asking your confirmation for spending a certain amount of USDT from your wallet to purchase your selected option.
Confirm an option buy order
After transaction confirmation, you've successfully purchased an option from Option Panda. Your option active holdings can be found at the bottom of the webpage.
Option holdings data presentation
Upon expiry, the smart contract will automatically settle your option holdings and your profit will be presented. You can claim your profit to your wallet at any time. Please wait in patience as the blockchain data synchronization with the front-end might take some time therefore your "My Investment" section might take a couple of seconds to load.
Concerning the profit prospect of buying an option, please refer to:
Last modified 2yr ago