Meet the Bybit team: Hao Yang, head of the Options Department
BYBIT mission – help crypto enthusiasts to make dreams. Our main principle – to listen, help and improve – applies to each product and service of the platform.
The secret of the success of the first ETH and SOLs with margin in the USDC on Bybit, as well as the expanding resource catalog developed for the development of crypto -optic trading in the market, is the same.
In connection with the launch of options in September of this year, Chao Yang, the head of the options department and the senior director of the product, joins us in the third issue of Meet the Bybuddies. He share his opinions on the trade in options, and also talk about the prospects for the development of options on the BYBIT platform and much more!
one. Hello, Hao Yang. Tell us a little about yourself.
Hello. My name is chao yang. I am the head of the Options Department and the Senior Product Director in Bybit. Now I am working on the development of the BYBIT options line.
I was born in China, the city of Harbin, but in his student years I moved to the Netherlands. I received a master’s degree in the direction of quantitative analysis of risks at the Amsterdam Free University, where I entered as part of the Duisenberg curriculum.
At my first work as a junior trader in the main office of Optiver in Amsterdam, I analyzed and traded interest rates and index options.
After that, for two years I worked as a quantitative analyst with specialization in electricity. In this position, I modeling electricity options in non -standard payments structures.
I met the world of cryptocurrencies in 2017, when I began to minute Ethereum. At that time (as now) I was crazy about cryptocurrency and absorbed all the information that I could only find. Sometimes I make Twitter posts about options and cryptotrends, so you can subscribe to my account @haoSkionChain to follow the news!
2. In the past, you worked as a trader of options and electricity in Tradfi, and now you are heading the options department in Bybit. What are the similarities and differences of these two industries?
They are both very competitive and developing rapidly. The market is constantly changing, and the trader needs to be incredibly careful and track hundreds of events so as not to lose their money. The same applies to crypto -streaks, but instead of monitoring the balance of one company, you have to track the entire market.
In addition, both areas are high -tech. Millions are poured into the development of trading houses – all in order to reduce delays and increase the reliability of the software. We do the same on exchanges – we invest millions to reduce delays and increase reliability.
3. You can briefly describe your usual working day in Bybit?
Usually during the day I have a lot of business meetings. I must be in touch with our products in products and technical specialists in order to monitor the development, delivery of projects and quality. Very often I have to take part of the work on myself to deal with complex aspects of product design.
In addition, I must coordinate my actions with our business development team, communicate with potential customers, take into account their requirements and implement these requirements in the final product.
At the end of a tense day, I relax a bit and clean the mind, and in the evenings I think about our strategy and the next steps in managing. At the same time, I spend a lot of time studying information from all available sources: Twitter, news, podcasts and the like.
four. What are your loved one options?
Those who bring money. 😊
For a trader, it is important not to allow preferences to interfere rationally and objectively think. There are many ways to make money and many ways to lose it. As for me, I prefer to trade “out of money” – either to buy or sell options depending on whether I think they consider them too expensive or too cheap. In addition, I always strive to support a flat delta.
5. What tips could you give to beginner options for options?
We have compiled a detailed guide to the Options Trade from A to I, in the framework of the “Expanding Opportunities” series, which is available here.
The main thing – remember: there are no rise without falls!
6. Tell us a little about the future options on Bybit.
After leafing ETH and SOL options, we plan to integrate block trading. Then we will work on improving the trade experience of our traders, in particular we plan to create simulators of positions, tools of dynamic delta hatch, and also add a lot of educational materials and update the BYBIT application, making it even more convenient and understandable.
7. What innovations of the crypto industry are the most intriguing you?
Now we not only restore the financial system, but also work on the creation of new methods of joint work of people from around the world. People from the sphere of cryptocurrencies can work decentralized and independently. I live in the Netherlands and control the team of people from different parts of the planet Blockchain community . Despite this, we have never encountered communication problems that would affect the effectiveness of work. People in this industry are extremely motivated and strive to achieve their goals.
eight. In your opinion, cryptocurrency is a positive trend?
The world of traditional finance is based on a centralized system, and, as we know, it is far from perfect. We constantly hear stories about people who do not have access to basic banking services, that financial institutions freeze their assets, and people suffer from the consequences of hyperinflation.
Cryptocurrency, in turn, offers financial security and solving all these problems. The crypto community shares this desire and tirelessly works on increasing the decentralization of the economy, providing financial freedom to millions of people. Therefore, of course, I believe in a good purpose of cryptocurrency.
9. You have a personal mantra?
I would quote the poet Dylan Thomas: “Do not go rash in the darkness, be more furious before the night of all nights, do not let your light go out!””
ten. Who inspires you in the crypto community?
Satoshi Nakamoto. He is not just a person, he is a symbol. The last person who also inspired people lived 2022 ago.
Bybit proudly reports that in September of this year we were the first to launch ETH and SOL options with margin in the USDC. Our goal is to create a universal platform for options and display the trading of derivatives to a new level. Celebrate this event with us and join the promotion with a prize pool of 25,000 USDC, as well as additional awards and discounts! To participate only you need to trade options.
Ready to join? Follow the link below!
Meet Bybit team
Behind every trading product, action and partnership in Bybit is a group of people devoted to their business who devoted their lives of cryptocurrency – we call all of them with love by Bybuddies! Once a month in the framework of the series “Meet the BYBIT team” We invite BYBIT team members to share their thoughts and experience in the crypto industry.