2.2.6 CoinFLEX Options

CoinFLEX options is a separate trading UI to the CoinFLEX UI entirely. CoinFLEX Options is a new way to trade crypto, it provides customized strategies targeting the future prices of Bitcoin and other crypto asset pairs. The user can select a strategy based on current market price action and use FLEX Coin as collateral to trade the price of numerous coins. It is also possible to stake FLEX in Options to play the part of the ‘bankroller’.

Registration and login

Options can be accessed either through the dashboard or trading interface, select the Options tab in the dropdown under the ‘Play’ tab. A new window will appear with a new login page. 

From CoinFLEX dashboardW1 2.2.6 CoinFLEX Options

From trading UIW2 2.2.6 CoinFLEX Options

Note: Options is an independent product, therefore it is necessary to register a separate account to use the product. Once the new window has opened showing the Options front page, select ‘Sign up’ in the top right hand corner and follow the simple prompts to register and then log in.W5 2.2.6 CoinFLEX OptionsW3 2.2.6 CoinFLEX Options


Depositing funds into Options

Once an account has been created and logged into, select the icon in the top right hand corner of the screen which contains the user’s initials (or the initials of the name provided for the account). A drop down will appear, select either ‘My Wallet’ or ‘Make Deposit’. The FLEX address for the account will appear which can be copied and pasted into the withdrawal section of the main CoinFLEX account or wherever the user is sending FLEX from. Once coins have been sent, the balance will appear in the ‘My wallet’ page and next to the CoinFLEX logo in the top left of the UI.O1 2.2.6 CoinFLEX OptionsO2 2.2.6 CoinFLEX Options


Do not remove the ‘simpleledger:’ prefix when entering the FLEX deposit address on CoinFLEX main account or other platforms, otherwise your coins will be lost;
Also, only FLEX is usable as collateral for trading on FLEX Options.

FLEX Options Trading UI 

When logging into CoinFLEX Options, the trading UI will appear immediately as per below screenshot. Any balance will be shown next to the CoinFLEX logo in the top right hand corner of the UI.Option1 2.2.6 CoinFLEX Options

Box 1: includes a trading pair selector drop down menu, an option to get back to the ‘trading’ page from any other page in CoinFLEX Options, a drop down showing live trades which can be selected and viewed, lastly there is a tab which once selected will show trading history in a new window.

Box 2: this is to toggle between being the trading Options and becoming the house/bankroller, selecting ‘Bankroller’ initiates the Options FLEX staking section – to be discussed shortly.

Box 3: available trading pairs are shown along the top of the trading UI, box 3 shows that BTC – USD is the current select pair. 

Box 4: shows the rest of the available trading pairs (this is the same list as the trading pair selector in box 1), select any of these and the market will switch to that pair, price action shown in box 6 will immediately become that of the new trading pair. All available altcoin prices can be traded against either USDT or BTC price as per the pairs listed.

Box 5: shows the expiry time period for the option trade, selecting the white downward facing arrow will reveal a dropdown showing 2 minute, 5 minute or 15 minute selectable expiries.

Box 6: shows the price chart for the selected market and expiry period, depending on the options contract type selected in box 9 this will populate with dotted or solid lines or red or green areas – to be discussed later.

Box 7: the chequered flag and solid red vertical line shows expiry of the trade. To the left of this line there is a dotted line, this denotes 10 seconds to expiry, after crossing this line trades cannot be placed or ‘cashed out’ and must run to expiry.

Box 8: shows the trade ticket, this shows the selected trading pair, current price of the asset, countdown to trade expiry, the selected instrument, target prices based on instrument selection, FLEX based trade size selection and the initiate ‘Trade’ selector.

Box 9: shows the variety of contracts on offer, hovering over the ‘i’ in each contract gives a description of the contract ‘rules’, selecting the contracts will show a visual representation in the price chart of what the trade means, it should be intuitive when selecting contract types.

Trading on FLEX Options

This example shows a successful trade in the ‘double no touch’ contract, double no touch (DNT) means that the price cannot touch the upper or lower red price targets at any point once the trade has been initiated.

The first screenshot shows the price chart before the trade is initiated, about 1 minute into the selected 2 minute trade timeline. At this point ‘Trade’ was selected.Option2 2.2.6 CoinFLEX Options

Once trade is selected, the window will refresh and give an altered look as shown below, the vertical line in the price chart shows at which point the trade was initiated, for this DNT trade the two parallel horizontal lines now show where the price cannot go for the remaining minute (until expiry of the trade). The price needs to stay in the black area for the trade to pay out (in the case of DNT 100% return so 20 FLEX if 10 FLEX was the trade size). In the screenshot the price changes are shown by the white line which continues to plot a course across the screen from left to right.

As this is options trading, there is of course the option to ‘close out’ (much like cashing out during a game in sports betting) the trade before expiry. In the bottom right hand corner of the screen the cashout button is shown, to the left of the button the cash out value is given, this rises and lowers as time advances and price levels advance towards or stay away from the red ‘target’ price levels.

It is possible to ‘close out’ and then trade again within a 2 minute, 5 minute or 15 minute time period as many times as desired.Option3 2.2.6 CoinFLEX Options

The next screenshot shows the successful trade having reached completion, at the bottom of the screen a high ‘close out’ value can still be seen and the details of the successful trade can be seen in the pop up. 10 FLEX was risked, 20 FLEX was returned.Option4 2.2.6 CoinFLEX Options

Moments after the trade completes, the trade history page appears showing trade history with the latest trade added to it. FLEX balance will be adjusted immediately.Option5 2.2.6 CoinFLEX Options

CoinFLEX Options Bankroller 

As mentioned previously, CoinFLEX Options gives the opportunity for the user to play the part of the ‘Bankroller’ or House. In doing so the user is betting that overall the house will win more often than the userbase and having staked some FLEX into the house FLEX reserve, the user can share a portion of the returns that FLEX Options produces.

Being bankroller is a simple process. Having logged in, in the top right hand corner of the UI it is possible to toggle between ‘trading’ and ‘bankroller’, select bankroller and the following screen will appear.Option6 2.2.6 CoinFLEX Options

Box 1: is where the user can input the number of FLEX to stake for the next 24 hour period.
Staking lasts 24 hours, if Auto-Roll is selected, staking continues automatically every day until Auto-Roll is switched off.
It is possible to cancel the staking daily at any time before 23:45 UTC by either by selecting the Cancel Staking button, or selecting the X next to ‘pending the operation’, as shown below.Option7 2.2.6 CoinFLEX Options

Box 2: shows staking history、dates、amount staked、yield of current and previous stakes and whether a current stake is set to auto roll.

Box 3: is where it is possible to view current staked balance, and the performance of the bankroll, percentage of the bankroll that the user owns and associated staking yield. The toggle for staking Auto-roll every 24 hours is also here.

FLEX Coin withdrawal

Select ‘My wallet’ again and the wallet page will appear showing FLEX balance. The menu on the left of the page has a ‘withdraw’ option near the bottom, select that and the address and amount to withdraw fields will appear for filling in, once the FLEX address and the amount have been filed in, select ‘Withdraw’.Option8 2.2.6 CoinFLEX OptionsOption9 2.2.6 CoinFLEX Options