Land Rover BAR
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Choose from four types of binaries and trade across popular forex, index and commodity instruments.
Binaries are priced between 0-100 and allow you to speculate on whether or not an event will occur at or by expiry, with two possible outcomes: yes and no. The closer the binary is priced towards 100, the more likely it is that the event will occur; if the price is closer to 0 then the event is less likely to occur. The outcome of a binary is determined against the reference price, known as the settlement price.
Decide whether the settlement price will be at or above the specified strike price at the end of the binary expiry. Read more
One Touch binaries require the settlement price to reach a specified strike price before or at the end of the binary expiry. Read more
Choose whether or not the settlement price will be at or above the previous period's close at the end of the binary expiry. Read more
Range binaries require the settlement price to be within a specified range at the end of the binary expiry.
|US NDAQ 100||Yes||Yes|
|US SPX 500||Yes||Yes|
|Crude Oil WT||Yes||Yes||Yes|
Will the settlement price be at or above a specified strike price at the end of the binary expiry?
You choose whether to buy or sell from a number of pre-determined strike prices. If at the end of the binary expiry the settlement price is at or above your selected strike price, the binary will settle at 100. Alternatively, if the settlement price is below your selected strike price when the binary expires, the binary will settle at 0. In this example of a Ladder we're buying the binary, so the USD/CAD settlement price must finish at or above 1.327100 at 8pm.
Will the settlement price reach a specific strike price before or at the end of the binary expiry?
The settlement price only has to touch the strike price once for the binary to immediately settle at 100. If the strike price is not touched before or at the end of the binary expiry, it will settle at 0. In this example of a One Touch we're buying the binary, so the AUD/JPY settlement price must reach 84.3200 at or before 8pm.
Will the settlement price be at or above the previous day’s close at the end of the binary expiry?
Up/Downs are a type of Ladder, with the event outcome determined in the same way. Generally, just one strike price is listed per binary, with the price set to the underlying instrument’s previous closing level. If at the end of the binary expiry the settlement price is at or above the strike price (the previous period's close), then the binary settles at 100. If the settlement price is below the strike price, the binary settles at 0. In this example of an Up/Down we’re selling the binary, so the NZD/USD settlement price must finish at or above 0.679840 at 8pm.
Will the settlement price be within a specified range at the end of the binary expiry?
For a ‘yes’ outcome and the binary to settle at 100, the settlement price must finish below the upper strike price and at or above the lower strike price. If the settlement price is outside the 'range', the outcome will be 'no' and the binary will settle at 0. In this example of a Range we’re selling the binary, so the AUD/NZD settlement price must finish between 1.110100 and 1.113500 at 8pm.
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