Since the demise (today) of BetsForTraders.com, I wondered if anyone knows how to create a synthetic binary/digital bet using options or something that may approximate to it. I trade weekly up bets.
BetsForTraders.com suggests opening an account with BetOnMarkets.com. They would, of course, as they are going into the same ownership where the new owner is no longer running BetsForTraders.com.
However, the prices on BetOnMarkets are much worse from what I can see eg. a weekly FTSE Up bet from spot costs around 60 on BoM whereas it was 55-ish on BfT. That makes a *BIG* difference to my models to the extent where I cannot trade them any more.
The option combinations I've looked at so far don't seem too economic either so hoping someone may have ideas. The lack of value could be an indication of why BfT sold out or why BoM wanted to eliminate the competition.
BetsForTraders.com suggests opening an account with BetOnMarkets.com. They would, of course, as they are going into the same ownership where the new owner is no longer running BetsForTraders.com.
However, the prices on BetOnMarkets are much worse from what I can see eg. a weekly FTSE Up bet from spot costs around 60 on BoM whereas it was 55-ish on BfT. That makes a *BIG* difference to my models to the extent where I cannot trade them any more.
The option combinations I've looked at so far don't seem too economic either so hoping someone may have ideas. The lack of value could be an indication of why BfT sold out or why BoM wanted to eliminate the competition.