Synthetic Knock-in Options User’s Guide

I. Introduction to Synthetic Knock-in Options

Synthetic Knock-in Options will soon be available on Greeks.live.

You can set up a pre-set IV to “knock-in” (buy) options when the underlying price is crossing your target price. This allows you to place an order without keeping an eye on the market.

Currently the most basic version is available, which means:

1️⃣Only IV limit orders are currently supported. We believe that market order can be dangerous and slippage can be huge.

2️⃣Only buy options are currently supported.

3️⃣Only GTC (Good Till Cancel) orders are currently supported.

The reason why we first introduce the most basic version is to ensure a safe and reliable basis and let users familiar with the basic functions. Later we will do further improvement according to your needs, welcome to join our Telegram official chat group and give us feedback: https://t.me/greekslive

II. Settings

Enter the URL greeks.live/ddh in your browser, you can see the following interface.

  1. Click on the top left corner to switch between accounts (main and sub-accounts).
  2. A Logout button and a language switch button in the upper right corner.
  3. The upper part of the Advanced Trading Tools panel is the Delta Dynamic Hedging (DDH) function, with BTC on the left and ETH on the right.
  4. The lower part of the Advanced Trading Tools panel is the Synthetic Knock-in Options function, with BTC on the left and ETH on the right.

⚠️️ We need to emphasize that the Synthetic Knock-in Options function should be used with full knowledge of the risk since slippage can be huge due to market depth.

‼️Greeks.live will not take any responsibility for it.

Please carefully read the disclaimer, and click Activate button to continue.

Taking the BTC Synthetic Knock-in Options as an example, the interface is currently divided into two parts, upper and lower.

  • The upper part is to trigger an IV limit buy option once the BTC price is higher than the price you set.
  • The lower part is to trigger an IV limit buy option once the BTC price is lower than the price you set.

The parameters you need to fill in or select (corresponding to the red numbers in the chart above) are:

  1. fill in the trigger price.
  2. Set the maximum buy IV value, currently only IV limit orders are supported. We recommend you to select the option contract first, so that the Mark IV of the contract will be displayed on the right side.
  3. Select the option to buy, selling options are not supported at the moment.
  4. Select the option contract to buy.
  5. Fill in the size of options.
  6. Set the status from Not Running to Running.

After setting the above parameters, click Submit and the execution result will change from “Please run the service first” to “Waiting for the trigger”.

There are 5 possible execution result.

  • Please run the service first: you need to run the service manually.
  • Waiting for the trigger: the service has been started, but the trigger price you set has not yet been reached.
  • Order triggered, but not filled.
  • Order triggered and filled.
  • Orders triggered, but canceled: the order has been triggered, but the user canceled the order on the website.

III. New Functions (Updated in July 2021)

We recently added two new features to SKO (Synthetic Knock-in Options), as shown in the picture below.

This function can be found by clicking the drop-down button next to Buy Options, and the parameters are the same as the Buy Options function.

Click “Add” at the bottom right corner to set multiple conditional SKO orders at the same time.

Enjoy!

Greeks.live Team

A professional options App for options traders Join us at Telegram: https://t.me/greekslive