Cboe’s KPI Options Normally Use Company SEC Filings to Settle

Cboe’s binary options on company performance metrics normally use values in earnings-related SEC filings to settle, tying payouts to company disclosures rather than crypto prices. The European-style contracts are cash-settled. At expiration, the normal payout is $1 if the specified metric meets the contract’s condition and $0 if it does not. If a KPI is unavailable, clearing procedures may produce a payout between $0 and $1. Cash normally settles on the business day after expiration; if the settlement value is determined later, delivery follows on the next business day. The approved metrics include Coinbase’s total trading volume, transaction revenue, total revenue and subscription and services revenue. Robinhood’s include funded customers and total net revenues. Marathon Digital Holdings, Inc.’s metric is the number of Bitcoin blocks won.

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