The 6SR trading system allows you to trade call options on supported
assets. Upon expiration, the system automatically assigns options
which are in the money. The user also has ability to execute a
contract at any time before the expiration.
- 1. Send an email
firstname.lastname@example.org for an
account. The accounts are wallets on the stellar network, and new
accounts require an initial deposit of 5 XLM, which is credited to
2. Next, purchase or deposit assets. To purchase assets with
XLM, go to the wallet page and find the "Buy BTC" section. Input the
amount of BTC you want to purchase, and click the " Buy BTC" button.
Refresh the page to check the new BTC balance in the grid at the top
of the page. Repeat the process with USD if you plan to purchase
options priced in USD. Note these assets are on the public stellar
network and can be purchased on the SDEX (stellar
distributed exchange) using any stellar client.
- 3. Once you have the assets you need, select a market from the
market list. All non-expired markets are available to trade in.
then move on to trading...
Here you can buy and sell existing contracts, create new ones for
sale, or execute existing ones you already own.
- To buy and sell existing contracts, simply use the "buy open" or
"sell close" tab buttons. These operate the same as any other asset
on the stellar network. In fact, you can use any other stellar
network client to buy and sell these assets.
- To write new contracts (also known as a "covered call" in options
speak), use the "sell open" tab. This is done in 3 steps:
- 1. Use the "create account" button to create a new escrow
account. This only needs to be done once per market.
2. Fund the account with the amount of the asset for which
you wish to write contracts. For example, in a BTC option with a
multiplier of 1, depositing 1 BTC in the escrow account will result
in 1 contract credited to you account. The minimum deposit is
0.01 BTC. Note: escrow deposits must be done through the trading
- 3. You now have option contracts in your wallet which can be
sold on the open market.
- To exercise an option before it expires, use the "exercise" tab
button. Input the number of options you wish to exercise (minimum of
0.01), and click the exercise button. The system will find the seller
of the contract, and execute a trade for that amount of bitcoin at the
option's strike price. The contract is then destroyed. 6SR takes a
small fee for brokering the transaction. Note: in the money contracts
are automatically exercised at 4:30pm est on the expiration date,
provided the account has enough funds to make the purchase in full.
XLM can be transferred out of your trade wallet at no cost. The
secret key (if any) can be revealed on the wallet page.
BTC and USD withdrawals are processed manually and for a small fee.
to request direct withdrawals.
Options trading involves risk and is not for everyone. With precision
and attentiveness, profit is gained.
There are many ways to make money trading options on this platform.
the simplest one is the same as any other asset: buy low sell high.
However, since an option expires at a known date (unlike a stock, for
example), extra care must be taken. Here are two other ways to make
money in this system:
- 1. Receive a type of dividend on owned BTC assets. Normally,
people who are long term investors in BTC just get to watch it sit
there. Now, by selling out of the money call options, they can
receive payments on their balance. The risk is that their BTC is
called away, in which case their profit would still exist, but be
- 2. Profit from market volatility without the full cost. A user
can purchase a contract for a fraction of what it takes to purchase
the full asset. For example, a user can purchase 1 in the money call
option for one bitcoin for 10 USD. The price of bitcoin often
fluctuates 100 USD within a few days. With proper timing, the user
could sell it for twice or more what they paid. This is a form of
leveraged buying without the risk of loans or margin accounts. The
risk is that you have to hold the contract to expiration, because you
don't have enough money to purchase the asset. In this case you do
lose money, but your loss is limited.
With any market, it is likely that some will profit and some will
lose. But with this options market, it is at least possible for
everyone to profit. We at 6th Street Radio wish you responsible
trading, and high profits!