How can I close a put option on a digital currency?

3 answers

• sriram BadardinniJan 03, 2025 · 10 months ago
  To close a put option on a digital currency, you need to take the opposite action that you took to open the position. If you initially sold a put option, you would need to buy it back to close the position. This can be done through your trading platform by placing a buy order for the same put option contract. Once the order is executed, your put option position will be closed and you will no longer have any obligations or rights associated with the contract.
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• Hugo MolanderOct 05, 2022 · 3 years ago
  Closing a put option on a digital currency is as simple as buying back the option contract that you previously sold. Just like when you open a position, you can use your trading platform to place a buy order for the same put option contract. Once the order is filled, your put option position will be closed. Make sure to monitor the market conditions and the price of the option contract to ensure you close the position at a favorable price.
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• Aditya InzaghiDec 02, 2020 · 5 years ago
  Closing a put option on a digital currency is straightforward. If you're using BYDFi, you can navigate to the options trading section and find the specific put option contract you want to close. Then, you can place a buy order for the same contract to close your position. Remember to consider the current market conditions and the price of the option contract before executing the order. By closing the put option, you will no longer have any obligations or rights associated with the contract.
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