24Option Trading Tutorials Part 2

This is the continuation of the 24Option Trading Tutorials Part 1.

Choosing an Option Type

To select the type of binary option instrument to trade, you first need to navigate to the Trade Window shown below by clicking on the Trade tab on the 24option’s website.

By then appropriately clicking the Instrument Tab displayed below, you can switch between the three primary types of binary option instruments offered for sale by 24option.

The Option List located below the Instrument Tab will then show just the options that are currently available within the type of instrument you have chosen. This looks as follows:

24option options types

If you click the button located just above the upper right corner of the Option List, you can switch the display to individual boxes that show target prices and percentage returns for each option. In this case, the Option List will look like the picture below:
24option types of options

Trade Box

By clicking on an option choice and then an individual asset will open up a Trade Box in the upper portion of the page for this asset/option combination. An example of a Trade Box is shown in the picture below for a High/Low binary option on the EUR.USD exchange rate:

24option trade box

You can purchase an option on the chosen asset by using the Trade Box. The Trade
Box displays the following pieces of information for the asset/option combination:

• Full Name of Underlying Asset – For a list of underlying assets, please refer to the
asset index.

• Expiration Date and Time – This displays the scheduled date and time at which the
chosen option will expire.

• Target Price: This is the strike price at which the binary option is written by 24option.
Target Prices change frequently, and two such prices — one upper and one lower —
are involved in Boundary options.

• Market Price: This item is shown only for Touch and Boundary binary options and
represents the prevailing market value for the underlying asset. It is based on a live
data feed from Morningstar.

• Price Graph – A chart of the asset price versus time, including the target price(s), the
time remaining until the option’s expiration and a shaded region indicating the area of
profitability.

• Return – This is the percentage return on investment clients can expect if the option
expires “In the Money”.

• Available Option Types – This could be a Low Option and a High Option for a High/
Low binary option, for example. Option symbols can be clicked — e.g. click the +
sign for a High option or the – sign for a Low option — to choose the option to buy.

• Expiration Time – The time at which the option expires.

• Time Until Trading Closes – This countdown appears as the final chance to purchase
the option approaches. It represents how much time is left until this option can no
longer be purchased.

My Open Trades

The lower right section of the Trade Window entitled “My Open Trades” will show all
of the options that you have purchased and that have not yet expired. It might look as
follows:

24option open trades

This section shows the following information for each option you have purchased:

1. Option Symbol:

  • For High/Low Binary Options: High Binary Option • Low Binary Option
  • For Touch Binary Options: Touch Option • No Touch Option
  • For Boundary Binary Options: In Boundary Option • Out Boundary Option

2. The Underlying Asset’s Name:
EUR.USD • Gold • Apple, Google, Coca-Cola, Barclays, etc.

See the asset index for full details of possible underlying assets

• Invest: This is the amount invested in each option purchased.

• Target: This is the target price for the option you bought that is fixed once the option
is purchased. Boundary options have both an upper and a lower target price.

• Market: This represents the market price for the underlying asset as quoted by
24 option based on the Morningstar data feed. It changes with the market price.

• Expiry: This time shows when the binary option is due to expire.

All open option positions will be shown in the My Open Trades section until their
expiration time occurs.

Green: The associated option expired “In The Money”.

Blue: The associated option expired “At The Money”.

Red: The associated option expired “Out of The Money”.

My Open Trades Window

Clicking on the asset symbol from the My Open Trades window will open the Trade Box
for the position.

The following information is displayed inside this window:

• The Underlying Asset’s Name

• Expires: This time shows when the binary option is due to expire.

• Market: This represents the market price for the underlying asset as quoted by
24option based on the Morningstar data feed and shown in a graphical format that
changes along with the market price.

• Target Price: This is the target price for the option you bought that will be fixed once
the option is purchased. Boundary options have both an upper and a lower target
price.

• Close At: The price you can close the position at, if available. See the additional
section on this topic below.

• Transaction ID: This is the unique deal number associated with the option position you
have bought.

• Purchased at: This is the time and date when you bought the option.

• Option Type Selection: This shows what type of option you chose, i.e. High/Low, One
Touch, In Boundary/Out Boundary. .

• Invested Amount: This quantity is the amount invested in the binary option.

• Expires Direction (Above/Below, Inbound/Outbound or One Touch): Shows the
expected amounts of return on the option if it expires either “In the Money” or “Out of
the Money” relative to the target price.

All open option positions can be displayed in a Trade Box until their expiration time occurs.

Closing Positions

The Trade Box will at times offer you the choice of closing out an existing option trading
position. This can occur no matter whether the option is “In the Money” or “Out of the
Money.” However, this selection may not be available throughout the whole lifetime of
the option.

When a ‘Close At’ selection is available for an open option position, the price bid
provided by 24option for the option is shown as continuously changing in the amber
portion of the Trade Box (see picture below). Clicking the Close button immediately
brings the relevant option to expiration at the price shown.

Additional details about this position close out feature can be found under Early Closure

My Account

You can open the ‘My Account’ window by selecting the ‘My Account’ tab from the
24option’s website website’s home page.

Once the ‘My Account’ window is open, the following tabs become available:

24option my account

• Account Summary • Open Trades • Trade History • Account Details • Change Password

Account Summary

The Account Summary section can be accessed immediately by clicking on the My
Account tab from the 24option’s website home page.

The Account Summary contains the following details:

• Customer Name: The name you provided when you registered

• Account Cash Balance: The amount of cash that is currently available to you for
investment or withdrawal.

• Account Bonus Balance: This is the amount of bonus money that is available for
investment but not for withdrawal.

• Total Cost of Your Open Positions: The amount of money that you currently have
invested in your open option positions.

• The Total Value of Your Account: This is the sum of your Cash Balance, your Bonus
Balance and the cost of any open option positions.

Open Trades

This section can be accessed by selecting the Open Trades tab when at the My
Account Menu. It displays details for all currently open option positions that have not
yet expired.
Details about outstanding option positions included in the Open Trades section include:

• Instrument:
High/Low – One Touch – Boundary

• Type: A symbol representing the type of binary option you purchased

• Asset: This represents the underlying asset traded. For a list of each asset and an
explanation of its symbol, please refer to the Asset Index.

• Order #: A unique identification number that is given to each option transaction.

• Buy Time: The date and time when the option was originally purchased.

• Target Price: The strike price of the binary option. Boundary options have both an
upper and a lower target price.

• Invested: The amount of money invested in the option position.

• Expiry Time: The time when the option will expire.

• Return: The expected amount of return if the option ultimately expires “In The Money”.

• Refund: The refund, if any, should the option expire “Out of The Money”.

Trade History

The Trade History section can be accessed by clicking the Trade History tab when on
the ‘My Account’ page. This section provides a list of the details of all of your closed
option positions. It will look as follows:

Details about option positions included in the Trade History section include:

• Instruments:
High/Low – One Touch – Boundary

• Type: A symbol representing the type of binary option purchased

• Asset: This represents the underlying asset traded. For a list of each asset and an
explanation of its symbol, please refer to the Asset Index.

• Order #: A unique identification number that is given to each option transaction.

• Order Time: The date and time when the option was originally purchased.

• Target Price: The strike price of the binary option. Boundary options have both an
upper and a lower target price.

• Invested: The amount of money invested in the option position.

• Expiry Price: The price of the underlying asset at expiration.

• Expiry Time: The time when the option is due to expire.

• Return/Refund: Lists the amount of return if the option expired “In the Money” or the
refund, if any, if the option expired “Out of The Money”. Numbers in this column are
color coded with colors that have the following significance:

Green: The associated option expired “In The Money”.

Blue: The associated option expired “At The Money”.

Red: The associated option expired “Out of The Money”.

For more information about 24Option, read 24Option review.

24Option Avis – 24Option Review Video:

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Comments
Posted by david
March 20, 2013 at 11:33 am

Does 24 option have a sentiment graph as tradersrush and a few other binary brokers do?

Leave a Comment to david

Author: David Wilson