21 October 2024
Fintech TradeFloor, part of Openmarkets Group, and the Australian Securities Exchange (ASX) are excited to deliver the ASX Options Trading Game for the second time this year.
The ASX Options Trading Game will commence today, Monday 21st October and will run for five weeks, concluding Friday 29th November 2024. More than 5,000 investors have registered to play the game. Last round saw 799 active players participate, with the winner increasing their starting balance by 448 per cent.
Powered by TradeFloor, the ASX Options Trading Game is free to play and educates participants in a risk-free trading environment. The game gives participants $50,000 in virtual cash to invest across options, stocks and ETFs listed on the ASX, using live prices and realistic brokerage fees to simulate actual market conditions.
The platform provides participants with interactive content that explains put and call options, an Options Cookbook containing 31 pre-designed strategies, and awards virtual trophies to participants for completing in-game milestones, such as completing their first trade.
ASX awards a cash prize of $500 to the verified winner of the game.
Dan Jowett, CEO of Openmarkets Group (OMG), said the Game plays an important role in educating retail investors on options strategies.
“Share trading platforms have made options more accessible than ever to retail investors, and it’s important there are financial education resources available to foster a deeper understanding of options trading and cultivate informed decision-making skills. The ASX Options Trading Game has an important role to play in achieving this,” said Mr Jowett.
Participation in the ASX Options Trading Game continues to rise every round, and the platform offers an unparalleled learning experience, combining our advanced technology with ASX’s deep market expertise.”
Graham O’Brien, Head of Equity Sales & Equity Derivatives, ASX, echoed this sentiment.
“ASX data shows that interest in options has doubled since the start of 2020 and are becoming more popular with investors. As the primary market operator in Australia, ASX is committed to providing education for investors, improving their financial literacy, and offering resources that help them make informed investment decisions.” Mr O’Brien said.
Participants can pre-register for the ASX Options Trading Game at https://optionsgame.com.au/.
About the ASX Options Trading Game
The ASX Options Trading Game offers users an immersive experience that sheds light on the concepts and strategies associated with options trading. participants get $50,000 virtual cash to trade stocks, ETFs and options using live prices and brokerage fees to simulate real market conditions. By simulating real-world market conditions, participants can explore the functionalities and intricacies of options trading without the risk of actual financial loss.
The Options Trading Game complements the comprehensive suite of educational tools available for investors available through ASX’s Options Knowledge Hub. In addition to the game, investors looking to enhance their understanding of options trading can access a variety of resources such as online courses, on-demand videos, webinars, calculators, and strategy guides.
This media release can be downloaded as a pdf here.