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Lyra deploys one-click spreads for crypto options trading


Decentralised crypto options trading platform Lyra has launched one-click spreads, which it describes as a game-changing feature that will significantly enhance the trading experience for its users.

One-click spreads

Traders can now execute multi-leg strategies in a single order, eliminating the risks of individual trade execution, such as slippage and front-running. This feature reduces upfront capital requirements and ensures seamless liquidity. With Lyra’s Request for Quote (RFQ) system, traders also can comfortably realise profits on in-the-money positions without worrying about liquidity gaps.

By trading spreads, users can now earn points towards Lyra’s upcoming LDX airdrop.

Nick Forster, Founder of Lyra said: “At Lyra, we recognised the need for a more efficient and user-friendly way to execute complex options strategies. One-click spreads were designed to simplify the trading process, reduce costs, and enhance liquidity for our users. By allowing traders to execute multi-leg strategies in a single action, we’re eliminating the inefficiencies and risks associated with traditional methods, and empowering our users to explore a broader range of financial opportunities with ease.”

Why one-click spreads are key

One-click spreads allow traders to craft custom payoffs effortlessly, eliminating the risk associated with legging into options strategies one leg at a time.

Instead of placing separate trades for each leg of a multi-leg spread, you can now simply add all the legs to your trade form and execute them all at once, similar to adding multiple items to your online shopping cart and checking out in one go. This allows you to swiftly complete your trade without having to manage multiple transactions.

This feature has been the most requested by Lyra users, and Lyra reckons it now makes it a feature-complete exchange.

The benefits of one click spreads

By executing spreads as single instruments, traders pay closer to the mid-price, saving on premiums and reducing fees. One-click spreads enhance interest in specific strikes and expiries, even in low-liquidity environments, ensuring efficient entry and exit from positions.

It also allows traders to sell credit spreads and collect premiums with defined maximum losses. Traders can also buy debit spreads and reduce upfront costs and improve profit potential. Traders can even execute delta-neutral strategies to easily trade straddles and strangles.

Lyra also let clients have open calendar spreads to exploit volatility mispricings without directional risk, as well as Trading diagonal spreads to express market views with different strikes and expirations.

Customers can enter complex strategies to manage butterflies, condors, and boxes without excess premiums or collateral.

“As we continue to innovate, the launch of one-click spreads is just the beginning,” said Forster. “Our focus now is on tokenizing derivatives yield and enabling permissionless execution of options and perpetual strategies. This will not only enhance the dynamic EigenLayer restaking ecosystem but also create sustainable yield opportunities, driving the future of DeFi forward.”

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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