Binance stock put options lock full USDC reserves for sellers
Binance announced covered-call and cash-secured-put strategies for eligible stock-options customers, who receive premiums in exchange for committing shares or USDC to potential assignment. Put sellers must reserve enough USDC to cover the full strike-price obligation; covered-call sellers risk losing shares above the strike while remaining exposed to declines. Premiums and assigned shares settle T+1, and buyers may exercise early. The offering uses Nest Trading to route orders to Alpaca Securities for execution, clearing, settlement and custody. However, Binance’s public product terms still describe long-only options and explicitly exclude writing or short positions, conflicting with the new seller FAQ. The governing terms for the new obligations remain unclear.
