# Options Trader > Derivatives trading - options, futures, and perpetuals. Advanced strategies for hedging and leverage. - Skill: `signal-execution-labs/options-trader` (Agent Skill, multi-file: 2 files) - Install (CLI): `npx skillmds@latest add signal-execution-labs/options-trader` - Raw SKILL.md: https://api.skillmd.com/api/skills/signal-execution-labs/options-trader/raw - Safety review: pending - Works with: Claude Code, Claude.ai, OpenAI Codex - Category: Coding & Dev Tools - Author: Signal-Execution-Labs (https://skillmd.com/u/signal-execution-labs) - Updated: 2026-09-21 - Page: https://skillmd.com/skills/signal-execution-labs/options-trader --- # Options Trader 📊 **Master the derivatives.** Trade options, futures, and perpetuals with sophisticated strategies used by professional traders. ## Supported Derivatives ### Exchanges - **Deribit** - BTC & ETH Options (primary) - **Binance** - Options & Futures - **OKX** - Options & Futures - **Bybit** - Perpetuals & Futures ### Instruments - ✅ Call Options - ✅ Put Options - ✅ Futures (Dated) - ✅ Perpetual Swaps - ✅ Spreads & Combos ## Options Basics ```bash kit options chain BTC # Output: 📊 BTC Options Chain ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Spot Price: $50,000 | IV: 52% Expiry: Mar 28, 2026 (47 days) CALLS PUTS ─────────────────────────────────────────────── Strike Price IV Delta │ Price IV Delta $45,000 $6,200 48% 0.82 │ $850 49% -0.18 $47,500 $4,100 50% 0.71 │ $1,350 51% -0.29 $50,000 $2,450 52% 0.55 │ $2,200 53% -0.45 ← ATM $52,500 $1,350 54% 0.39 │ $3,600 55% -0.61 $55,000 $680 56% 0.25 │ $5,400 57% -0.75 $60,000 $180 60% 0.10 │ $9,900 61% -0.90 Most Active: $50,000 Call (2,500 contracts) Put/Call Ratio: 0.65 (bullish) Max Pain: $48,500 ``` ## Options Strategies ### 1. Covered Call (Income) Own the asset, sell calls for income. ```bash kit options covered-call BTC # Output: 📊 Covered Call Strategy: BTC ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ You own: 1 BTC @ $50,000 Recommended Covered Call: ├─ Sell: 1x $55,000 Call (Mar 28) ├─ Premium Received: $680 (1.36%) ├─ Breakeven: $49,320 ├─ Max Profit: $5,680 (+11.4%) └─ Max Loss: Unlimited below $49,320 Scenarios: • BTC at $55,000: +$5,680 (capped) • BTC at $52,500: +$3,180 (profit) • BTC at $50,000: +$680 (premium only) • BTC at $47,500: -$1,820 (but better than no call) Probability of Profit: 72% Annual Yield (if repeated): ~36% [EXECUTE STRATEGY] ``` ### 2. Protective Put (Insurance) Buy puts to protect your holdings. ```bash kit options protective-put BTC # Output: 📊 Protective Put Strategy: BTC ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ You own: 1 BTC @ $50,000 Recommended Protection: ├─ Buy: 1x $47,500 Put (Mar 28) ├─ Cost: $1,350 (2.7%) ├─ Protected below: $47,500 ├─ Max Loss: $3,850 (-7.7%) └─ Upside: Unlimited This is like buying insurance: • Premium: $1,350 (insurance cost) • Deductible: $2,500 (strike gap) • Coverage: Everything below $47,500 Without Protection: Could lose $50,000 With Protection: Max loss is $3,850 Cost of Peace of Mind: 2.7% [EXECUTE STRATEGY] ``` ### 3. Bull Call Spread (Directional) Limited risk bullish bet. ```bash kit options bull-spread BTC --target 55000 # Output: 📊 Bull Call Spread: BTC ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Outlook: Bullish to $55,000 Strategy: ├─ Buy: 1x $50,000 Call @ $2,450 ├─ Sell: 1x $55,000 Call @ $680 ├─ Net Cost: $1,770 (max loss) ├─ Max Profit: $3,230 (if BTC > $55K) └─ Breakeven: $51,770 Payoff at Expiry: • BTC > $55,000: +$3,230 (+183%) • BTC = $53,000: +$1,230 (+69%) • BTC = $51,770: $0 (breakeven) • BTC = $50,000: -$1,770 (max loss) • BTC < $50,000: -$1,770 (max loss) Risk/Reward: 1:1.83 Probability of Profit: 48% [EXECUTE STRATEGY] ``` ### 4. Iron Condor (Range Trading) Profit if price stays in a range. ```bash kit options iron-condor BTC --range 45000-55000 # Output: 📊 Iron Condor: BTC ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Outlook: BTC stays between $45K-$55K Strategy: ├─ Sell: 1x $45,000 Put @ $850 ├─ Buy: 1x $42,500 Put @ $420 ├─ Sell: 1x $55,000 Call @ $680 ├─ Buy: 1x $57,500 Call @ $350 ├─ Net Credit: $760 (max profit) └─ Max Loss: $1,740 Profit Zone: $45,000 - $55,000 Payoff: • BTC in range: +$760 (+43.7%) • BTC = $44,000: -$240 • BTC = $42,500 or below: -$1,740 • BTC = $56,000: -$240 • BTC = $57,500 or above: -$1,740 Probability of Profit: 68% Risk/Reward: 1:0.44 [EXECUTE STRATEGY] ``` ### 5. Straddle (Volatility Play) Profit from big moves in either direction. ```bash kit options straddle BTC # Output: 📊 Long Straddle: BTC ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Outlook: Expecting a BIG move (direction unknown) Strategy: ├─ Buy: 1x $50,000 Call @ $2,450 ├─ Buy: 1x $50,000 Put @ $2,200 ├─ Total Cost: $4,650 (max loss) └─ Breakevens: $45,350 and $54,650 Profit if BTC moves > 9.3% either way! Payoff: • BTC = $60,000: +$5,350 (+115%) • BTC = $55,000: +$350 (+7.5%) • BTC = $50,000: -$4,650 (max loss) • BTC = $45,000: +$350 (+7.5%) • BTC = $40,000: +$5,350 (+115%) Best For: • Before earnings/events • High IV environments • Expected breakouts [EXECUTE STRATEGY] ``` ## Futures & Perpetuals ```bash kit options futures # Output: 📊 BTC Futures Overview ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Spot: $50,000 Futures: ┌────────────┬───────────┬─────────┬──────────────┐ │ Expiry │ Price │ Premium │ Annualized │ ├────────────┼───────────┼─────────┼──────────────┤ │ Perpetual │ $50,050 │ +0.10% │ Funding: 8% │ │ Mar 2026 │ $51,200 │ +2.4% │ +18.7% APY │ │ Jun 2026 │ $52,800 │ +5.6% │ +16.8% APY │ │ Sep 2026 │ $54,500 │ +9.0% │ +15.4% APY │ └────────────┴───────────┴─────────┴──────────────┘ Funding Rate (Perp): +0.01% / 8h → Longs pay shorts → Indicates bullish sentiment Basis Trade Opportunity: • Buy Spot, Short Mar Futures • Lock in 2.4% (47 days) = 18.7% APY • Risk-free if held to expiry ``` ## Greeks Dashboard ```bash kit options greeks # Output: 📊 Portfolio Greeks ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ Position: Long 5x $50K Calls, Short 3x $55K Calls Delta: +0.87 BTC → Portfolio gains $870 per $1,000 BTC move up Gamma: +0.012 → Delta increases as price rises (good for longs) Theta: -$45/day → Time decay costs $45 daily Vega: +$125 → Gains $125 per 1% IV increase Summary: • Directionally bullish • Losing to time decay • Benefits from volatility increase Recommendation: If IV is low, good position. If IV is high, consider closing some. ``` ## API ```typescript import { OptionsTrader } from '@binaryfaster/kit'; const options = new OptionsTrader(); // Get options chain const chain = await options.getChain('BTC', '2026-03-28'); // Execute strategy await options.executeStrategy('covered_call', { underlying: 'BTC', strike: 55000, expiry: '2026-03-28' }); // Calculate greeks const greeks = await options.calculateGreeks(positions); // Futures basis trade await options.basisTrade({ asset: 'BTC', expiry: '2026-03-28', size: 0.5 }); ``` ## Configuration ```yaml # TOOLS.md options_trader: enabled: true exchanges: deribit: api_key: ${DERIBIT_API_KEY} secret: ${DERIBIT_SECRET} # Risk limits max_options_allocation: 10% max_delta: 2.0 # BTC equivalent max_leverage: 3x # Auto-management roll_before_expiry: 7 # days auto_exercise: false # Greeks limits max_negative_theta: 100 # $/day max_vega_exposure: 500 ```