Moomoo plans to add NYSE American's Binary Return Options for US retail clients, according to its 11 November announcement. A Finish High contract pays when the underlying closes at or above its strike. A Finish Low contract pays below the strike. The European-style contracts settle at expiry, paying $100 when the condition is met. If it is missed, buyers lose the premium paid, and fees can affect the net result.
The initial list covers AAPL, AMZN, NVDA, ORCL, SPCX and TSLA and six ETFs (GLD, IBIT, IWM, SLV, SPY and TLT). Five weekly expiries are planned at the same time. Moomoo says it will offer probability and risk tools, including its P&L Simulator and Strategy Builder. It also expressed interest in bringing the contracts to Asian markets when available.
Sources Moomoo / GlobeNewswire · TradeInformer
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