[//]:content-type-MARKDOWN-DONOT-DELETE A recurring sell strategy allows the system to automatically sell options at fixed intervals, enabling you to continuously earn premiums within the selected cycle. This document explains how the strategy is activated, when the first sell occurs, the position rules, and the strategy's recurring logic. ## Strategy Entry Interface ### Method 1 When you move your cursor over the row of a strike price in the options chain, the entry point for the recurring sell strategy will appear in that row.

• **Call Area** : The button appears on the **right side** of the row. • **Put Area** : The button appears on the **left side** of the row. #### Entry Rules - The strategy entry in the T-shaped quotation table appears only within **certain expiry dates** and **certain Delta ranges** . The specific rules are as follows: - **Expiry Dates** : T+1 (next-day options); T+2 (two-day options); T+3 (three-day options); - **Delta Range** : ▪ Call: 0.40–0.01 ▪ Put: 0.01–0.40 ### Method 2 Click the Recurring Sell tab at the top-right corner of the order panel to enter the strategy creation page.

--- ## Strategy Settings Interface

After entering the strategy configuration page, you will need to manually configure the following parameters to support the execution of the recurring sell strategy: **Call/Put option, cycle duration, expiry date type, contract anchor, quantity, and sell price. You may also optionally configure take-profit and stop-loss parameters as supplementary conditions. Details and restrictions for each parameter are provided below.** ### Call Options (Calls) / Put Options (Puts)

- You may choose to sell a call option or a put option. Please note that the strategy only supports choosing one direction. - You may switch between directions using the toggle button. After switching, the system will automatically select a corresponding contract within the valid range. - After selecting the option type, the system will sell call options or put options throughout the entire strategy cycle, and the option direction cannot be changed once the strategy is running. ### Running Period

- The running period represents the total duration of the strategy. During this period, the system will automatically repeat the selling process based on the selected expiration date type. After the period ends, the strategy will automatically stop and will not open new positions. - Available options: 6 days, 12 days, 24 days. ### Expiration Date Type

- You can select the expiration method used for each cycle of the strategy: T+1, T+2, or T+3. - The system defines expiration date types as follows: - The first expiration in the option chain (T-shaped quote table) = T+1 - The second expiration = T+2 - The third expiration = T+3 - At the beginning of each cycle, the system will automatically sell the contract corresponding to the selected expiration date type. ### Contract Anchor

The contract anchor is used to determine which Strike or Delta the system should choose for each cycle. You may select one of the two options below. **Method 1: Strike Selection** Select a Strike directly relative to the current price (ATM), such as ATM+3, ATM+5, etc. Available options: The system will automatically generate a list of selectable Strike levels based on the expiration date and the Delta values within a reasonable range (out-of-the-money). The list is arranged from nearest to farthest from the ATM. This method is suitable for users who prefer to control risk using "a certain number of OTM steps." **Method 2: Delta Selection** Input range: ￮ Call: 0.01–0.40 ￮ Put: 0.01–0.40 Adjustment method: The slider supports precision to 0.01 and allows manual input. The smaller the Delta, the further OTM the option is, and the risk is generally lower; the larger the Delta, the closer it is to ATM, and both potential return and risk increase. In addition, you may also click any contract within the hot zone area in the T-shaped quote table to quickly fill in the specific Delta value for the contract anchor. **Hot zone rules:**

1. The system will display the hot zone in the OTM area for both Call and Put options that fall within the corresponding Delta range. 2. When clicking any contract inside the hot zone: - The Delta or the distance-from-ATM level of the selected contract will be automatically filled into the strategy settings, depending on the type of contract anchor you are using. - The selected contract will be highlighted to help you confirm your choice. ### Amount

- Set the number of option contracts to be sold in each cycle of the strategy. - **Unit** : By default, the system uses the underlying asset (such as BTC or ETH) as the unit. - The system will automatically calculate the required margin based on the quantity you enter and display your available balance. - Max Sell Amount: - The system estimates the contract cost based on the selected expiration date and then calculates the maximum sellable quantity according to your current available balance. - **Note: The maximum notional amount for creating a strategy is currently capped at 5,000 USDT. If your actual available balance exceeds 5,000 USDT, the maximum sellable quantity will still be calculated using 5,000 USDT as the limit.** ### Sell Price

- **Sell Price Selection:** You can choose the pricing method that the system will use when selling options in each cycle. The system will automatically update the order price based on the selected method. - **Available Pricing Methods** - **Market** : Place a market order and execute immediately. - **Mark Price** : Place an order using the option's theoretical reference price. - **Ask0** : Place an order at the current best ask price. - **Ask0–0.5%** : Place an order at a price 0.5% lower than the best ask price. - Ask0–5%: Place an order at a price 5% lower than the best ask price. - Selecting a lower price (such as Ask0–0.5% or Ask0–5%) may increase the execution speed, but the premium you receive may decrease. - **The system will continuously check order book data to ensure orders are placed/executed at the corresponding price level** . - If the order book lacks sufficient liquidity, and the selected method requires placing an ask-price-based order (such as Ask0–0.5%), **the system will not place the order** . ### Available Balance

- The system displays the available funds in your account in real time to help you determine whether you have a sufficient balance to support strategy opening and margin requirements. - **Note: The available balance refers to your transferable USDT balance, not your non-withdrawable margin balance.** ### Margin Required

After you configure the strategy parameters, the system will estimate the margin required to create the strategy based on the nearest expiration contract. This margin consists of: - **Initial Margin** : The basic margin required for selling the option. - **Reserved Margin** : An additional buffer to handle market volatility. The system sets this amount as **30%** of the initial margin. **Formula:** Strategy Margin Requirement = Initial Margin + (Initial Margin × 30%) Before creating the strategy, the system will automatically calculate and display the total margin usage to help you verify whether your account balance is sufficient. ### Estimated Trading Schedule - The estimated trade path outlines the transactions the strategy may execute and helps you anticipate how the strategy will operate: - Most recent two sold option contracts: Displays the latest contracts sold by the strategy so you can understand recent strategy execution. - Contract to be sold on the final day of the cycle: Since the exact contract for that date cannot be determined in advance, only the expiration-related information is displayed. ### Set TP/SL

- Trigger mechanism: When the option-level return rate reaches the take-profit or stop-loss conditions you set, the system will immediately close the position using a **market order** . If liquidity is insufficient, the unfilled portion will be placed using the Mark Price, and the order will continue until it is fully filled or the contract expires. - Limit description: Minimum take-profit: +5%, Maximum stop-loss: –10% - **Note: Because liquidity for some option contracts can be unstable, the take-profit/stop-loss mechanism carries potential slippage and loss risk. Please use it with caution.** ### Risk Indicators

Risk indicators include: Risk Level and Win Rate. Risk Levels: R1, R2, and R3 (the higher the number, the higher the risk). Win Rate: Calculated based on historical performance and provided for reference only. --- ## When Does the First Sell Occur? After clicking Start Strategy, the system will automatically execute the first sale at the next 09:00 UTC. • If you start the strategy between 06:00–08:59 (UTC), the first sell will occur on the same day at 09:00 (UTC). • If you start the strategy after 09:00 (UTC), the first sell will occur at the next 09:00 (UTC). You do not need to place any manual orders. The system will automatically select and sell the contract based on your parameters at that time. ## How Does the System Select the First Contract to Sell? The system will automatically select a contract from the current T-shaped quote table based on your configured parameters, including: • Expiration date type: T+1 / T+2 / T+3 • Delta range or Strike • Price type: Market, Mark Price, Ask0, Ask0–0.5%, Ask0–5% The system will place the order based on the price method you selected and attempt to fill it directly or via order placement. ## How Is the Position Managed After the First Sell? After selling the contract, the strategy will enter the holding phase: 1. Hold Until Expiration The system will hold the position until the contract naturally expires and automatically settle it in cash at 08:00 (UTC) (with no physical delivery risk). 2. If TP/SL Is Triggered • The system will automatically close the position at the market price. • If market depth is insufficient, the unfilled portion will be placed as a Mark-price order until it is fully executed or settled at expiration. 3. Manually Closed • You may choose to manually close the position with a limit order during the holding phase. If manual closure is initiated, the TP/SL logic will be temporarily suspended until the manual closing process is completed. After the current cycle ends, the system will wait for the next cycle to open a new position. ## How Does the Strategy Auto-Roll? The recurring sell strategy will loop based on the expiration date type you selected (T+1 / T+2 / T+3). The expiration date type defines the duration of each cycle: • T+1: Expires on the next day after selling; rolls daily • T+2: Expires on the second day after selling; rolls every 2 days • T+3: Expires on the third day after selling; rolls every 3 days How the rolling process works: 1. Cycle Start: The system automatically opens a new position at 09:00 (UTC) for each cycle (sells the contract for the next term). 2. Holding Phase: Continues until expiration, or the position is closed when TP/SL is triggered. 3. Next Cycle: After the previous term settles at 08:00 (UTC), the system will sell the next-term contract at 09:00 (UTC) on the same day. 4. Stop Condition: Once the total strategy duration you set is reached (such as 6/12/24 days), the system will automatically stop after the final settlement and will not continue opening new positions. ## Strategy Example Suppose you start the strategy at 06:00 (UTC) on **September 4, with the following settings: 12 days, 0.2 delta, T+2, sell at market.** The system will: September 4, 09:00 (UTC): Sell the first T+2 contract. September 6, 08:00 (UTC): The contract expires and is settled. September 6, 09:00 (UTC): The system automatically sells the next T+2 contract. This loop continues until the final cycle settles at 08:00 (UTC) on September 16, after which the strategy stops automatically.

How to Create a Recurring Sales Strategy