How to Buy Binance Stock Options? Suitability Test, Exercise, and Expiry

Binance

28 September 2026

Binance stock options differ from crypto options in a few key ways: they are physically settled, meaning you receive real shares instead of a cash difference when you exercise; and they do not auto-exercise. Even if an option is in the money, if you do not submit an exercise instruction, it will be automatically closed out instead of being converted into shares.

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Getting Access: Pass the Suitability Test First

Stock options are not enabled by default. You need to complete the Options Suitability Quiz and sign a disclaimer first. If you have not enabled Binance stock trading before, you can enable both stocks and options in this step without separate operations.

The purpose of the quiz is to confirm that you understand the basic mechanics and risks of options. It is not an exam, but you must complete it before you can enter the trading interface.

Where to Find Options

After enabling access, go to the K-line page of the stock you want to trade and check whether there is an "Options" tab. If there is, the stock supports options trading; if not, it is not currently supported. This tab is located between "Overview" and "Financials."

Options are currently supported for more than 1,000 U.S.-listed stocks and ETFs, but the exact list depends on the support scope of Alpaca Securities and Binance. Not all U.S. stocks are available.

Placing Orders: Only Limit Orders in the First Phase

On the options page, you need to select the expiration date and strike price, then enter the limit price you are willing to pay and the number of contracts.

Currently only limit orders are supported; market orders are not available. In the first phase, only buying calls or buying puts is supported. Selling to open or naked shorts are not supported. This means your maximum loss is defined from the start: the premium you pay.

Funds can be transferred directly from your Funding account or Spot account. Supported quote currencies include USDC, USDT, USD1, U, and BNB.

Exercise: You Need to Submit the Instruction Yourself

This is where stock options differ from what many people expect. In-the-money options do not auto-exercise. If you hold an in-the-money option at expiration but do not submit an exercise instruction before the deadline, it will enter an auto-close process. Binance will try to sell your position before the close instead of automatically giving you shares.

The deadline for submitting an exercise instruction is 30 minutes before the contract expires. You need to actively submit an exercise instruction on the platform to receive or deliver the underlying shares.

If you exercise a call option, you will receive the underlying shares. If you exercise a put option, you need to deliver the shares, which usually means you need to hold the corresponding position in your account.

Expiry and Trading Hours

Most U.S. stock options trade from 9:30 a.m. to 4:00 p.m. Eastern Time. Some ETF and ETN options may extend to 4:15 p.m. Pre-market and after-hours trading are not supported. New orders are not accepted outside trading hours.

If the expiration date falls on a U.S. stock market holiday or nearby, the expiration date and deadline may be adjusted earlier to the trading day before the holiday.

Fee Structure

The trading commission is $0.60 per contract, with no minimum fee. Binance covers exercise fees, and conversions between USDC and USD do not incur a spread. This rate is specific to stock options and differs from crypto options.

Who It Suits and Who It Does Not

Suitable for: people who already understand basic options mechanics and want to express a directional view on a U.S. stock with limited risk, where the maximum loss equals the premium paid. Physical settlement is meaningful for those who ultimately want to hold the shares.

Not suitable for: if you expect "in-the-money auto-exercise," you may be surprised to find your position closed out instead of receiving shares at expiration. If you do not plan to actively monitor the expiration date and submit instructions, this product is not for you.

Regional restrictions: this product is not open to U.S. users. It is only available to eligible users outside the United States. Availability depends on the regulatory conditions in your region, and Binance announcements also note that the product may not be available in your area.