bitpontHow to Build an Options Strategy on Bitpont
Build a straddle, spread or iron condor, inspect its expiry payoff and review a complete Derive maker quote.
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Updated 27 October 2026
Build the exact package
- Choose a structure.
Open Volatility and select a template. Long straddles and strangles buy calls and puts; spreads combine bought and sold options. The miniature diagrams show a shape, not current prices or a recommendation.
- Choose the market.
Set Underlying, Expiry (UTC), Centre strike, Strike spacing and Quantity per leg. Spacing counts listed strike intervals; those intervals need not be equal dollar distances. Use Rebuild structure after changing these inputs.
- Check every leg.
Read each contract, Buy or Sell side and quantity. Add a leg allows up to four distinct option contracts. The package must use one underlying and expiry. Removing or reversing a leg changes your exposure; a reverse instruction does not establish that you own an offsetting position.
- Explore the payoff.
Use Chart range and the settlement-price slider. Net package premium and expiry profit/loss use the displayed pricing basis. Export scenario saves that analysis. Missing reference prices mean no complete reference curve, not zero cost.
Set payment and fee limits
Maximum net cost is the ceiling on the package cost including the fee cap. A positive value limits a debit; a negative value requires a minimum net credit. Maximum total fee is a separate cap, not a promise of the charged fee. Enter these deliberately; the reference premium is not an executable maker quote.
Request, review and verify
- Authorize the intended account.
Connect the wallet, select Authorize account access and choose the funded trading account. Check account equity and initial margin surplus. Changing wallet or account invalidates a prior review.
- Request maker quote.
The request asks for pricing and does not itself move funds. Refresh quote checks the existing request. A maker may not provide an eligible quote. Cancel request does not close an existing position.
- Review atomic execution.
Review the exact package and fee limit before signing. Bitpont requires a matching current quote and account checks. It does not fall back to submitting individual legs when the package cannot execute.
- Check actual positions.
Verify execution in Activity & recovery, then open Options positions. An expired quote is not a completed trade. An uncertain submission needs reconciliation before another signature.
Exit and troubleshoot
Inspect the actual remaining quantities in Options. An opposite package is another trade requiring a fresh quote, sufficient liquidity and account eligibility. Reverse all legs alone is not a reduce-only close. If the catalogue fails, refresh it; if a signature was submitted, use Check execution status first. Keep the wallet, account, request identifier and nonce when investigating.
Expiry curves do not model the whole path to expiry. Liquidation, fees and early-close prices can change the outcome. A bounded expiry payoff does not guarantee a bounded account loss. Dedicated variance swaps and perpetual options are not enabled here.