Binance crypto exchange will offer options contracts for the seventh largest cryptocurrency in the world, Litecoin. According to the blog post, the Litecoin contracts will go live on November 25th.
A Binance spokesperson said the listing of options is a response to user demand, adding that options are an important hedging tool, especially during market rallies. Binance options contracts have expiration times ranging from 10 minutes to 24 hours, which is shorter than traditional options. They can be completed at any time prior to expiration.
This is the sixth listing of options contracts on Binance. The global average spot price for Litecoin is just under $90 at the time of writing.