Binance announced covered-call and cash-secured-put strategies on Oct. 15 for eligible stock-options customers. But its linked product terms, effective Sept. 1, still expressly exclude writing options, and an older FAQ describes long-only trading. The source leaves unresolved which terms govern sellers.
Put sellers must reserve enough USDC to buy all shares covered at the strike price; the premium does not reduce that reserve. If assigned, they must buy even if the shares’ market value has fallen. Covered-call sellers must sell their committed shares at the strike if assigned, capping gains above it while retaining exposure to declines. The linked terms exclude US persons, people in the US and accounts they beneficially own or control, and flag possible restrictions elsewhere.
