NYSE American Prepares Binary Options on Apple, Nvidia and Tesla
Photo: TokenPost
NYSE American plans to begin trading binary options on 12 U.S. stocks and exchange-traded funds within days, introducing contracts that pay a fixed amount based on each security’s closing price. The identified underlyings include Apple (AAPL), Nvidia (NVDA), Tesla (TSLA) and the SPDR S&P 500 ETF Trust (SPY). The complete 12-security roster has not been disclosed. Called Binary Return Derivatives, or ByRDs, the contracts have two possible outcomes at expiration. A Finish High contract pays $100 if the underlying closes at or above its strike price. A Finish Low contract pays $100 if it closes below the strike.
Source: TokenPost
