There are three main elements that make up a binary options contract:
1. The underlying market where the trader prefers to start trading. Users can choose from Forex, Stock Indices, Events, Commodities and so on.
2. It is essential to define the level of investment that remains at the center of decision making.
3. Date and time of expiration, which can last for a few minutes, a week or even much longer. Some decentralized financial platforms, such as Tytanid, allow the possibility of entering the strike price even several years ahead. In this way, the user can create binary options markets that allow other traders to join over a very long period of time.