Binance Covered Call & Cash-Secured Put: How to Sell
A Binance covered call sells a call against shares you own. A cash-secured put sells a put backed by cash. You receive a premium and accept a stock-delivery or purchase obligation if assigned. Binance launched both strategies on October 15, 2026. Access depends on your region and account eligibility.
Covered call vs cash-secured put
| Strategy | Collateral | If assigned |
|---|---|---|
| Covered call | Available underlying shares | Sell at the strike; give up further upside |
| Cash-secured put | Sufficient USDC | Buy at the strike, even if the stock trades lower |
These are Stock Options. Compare stocks, bStocks and stock perpetuals before choosing a screen. For the shares themselves, see how to buy US stocks on Binance.
Place an order
- Enable Stock Options, complete the suitability quiz and sign the disclaimer. Prepare shares, or put the CSP collateral in your Funding Account as USDC.
- Open the stock’s chart → Options. Choose an expiry, strike and Call or Put.
- Select Sell to open a short position. Enter your limit price and contracts, check Max Sell and Collateral, then preview and confirm. Only limit orders are supported. Official instructions.
A $120 premium can still leave an $880 loss
Assume one put, a 100-share multiplier, a $50 strike and a $1.20 premium per share, with 1 USDC = $1 and no fees:
- Cash collateral: 1 × 100 × 50 = 5,000 USDC.
- Premium: 1 × 100 × 1.20 = $120.
- If assigned 100 shares when they trade at $40, you pay $5,000 for shares worth $4,000. Including the premium leaves an $880 unrealized net loss.
This is a hypothetical example, not a current quote. Premium cushions only part of a fall; see OIC’s cash-secured put explanation.
An early exit requires a filled Buy to Close order. Short options are not automatically closed at expiry and can be assigned early. Closing and assignment rules.
Common questions
What collateral does a Binance covered call need?
Available shares of the underlying stock. If assigned, you sell those shares at the strike price.
Can I secure a Binance cash-secured put with USDT?
Currently, collateral must be USDC in your Funding Account. Premium received does not reduce the collateral required.
Is the premium received my profit?
No. Include closing costs, fees and changes in the value of shares you hold or receive.