Bet Types

A floating binary is the most common type of binary bet. A bet where the binary price moves but where the strike price (the price the market needs to reach for the event to occur and therefore make up at 100) is fixed.

For example, if the bet is that "the DOW will end down on the day" the Buy and Sell prices might change as the bet progresses but the proposition itself will remain the same.

Closing out a floating binary bet:

Crucially, a floating binary - and only a floating binary - bet can be closed out before the end of the lifetime of the bet. If you bought you can sell the same amount to close or if you sold you can buy the same amount to close.

Further, you can perform a partial close where you buy or sell less than you originally sold or bought, therefore leaving part of the bet running.