Quick question about MOVE contracts. Why don't they open at $0 everyday? To my understanding the price at which a MOVE contract expires is given by AbsoluteValue(BTC price day start - BTC price day end). So if the contract opens at $0 it should...
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always go up from $0 unless the opening price is exactly equal to the closing price in which case the price of MOVE would be exactly 0.
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so the MOVE contract ends up expiring to the difference between the starting and ending price. Given that, probably, BTC will move > 0 today, the best guess at the expiring value of MOVE is > 0.
Right that makes sense, but let's say the contract opens at $200. How is it possible for the price of the contact, at any point in the day, to be less than $200? If the contract opens at $200 and btc goes from 10,000 to10,100 then MOVE should be at $300. If btc drops back to...
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10,000 then MOVE is at $200 again. Now if btc continues to drop let's say to 9,800 then price should again be at $400 right?
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