# OKX Options Contract Closing Tutorial and Profit Calculation

By [okx wallet](https://paragraph.com/@okx-wallet-2) · 2025-07-23

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This guide will walk you through the steps to close an options contract on OKX, including **quick closing** and **manual order placement**, as well as how to calculate your profits or losses after closing a position.

How to Close an Options Contract on OKX
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### 1\. Viewing Your Current Positions

*   Navigate to **"All Positions"** to see your active options contracts.
    
*   Select the contract you want to close (e.g., `BTCUSD-20200327-6000-P`).
    

### 2\. Quick Closing Method

*   Click **"Quick Close"** on the right side of the selected position.
    
*   A confirmation pop-up will appear, showing the **lowest available selling price** at the current limit.
    
*   Confirm the action to place a **limit order at the best available price**.
    

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### 3\. Manual Order Placement (Custom Price)

If the **quick close price isn’t favorable**, you can manually set your desired closing price:

*   Go to the **simplified trading interface** by clicking on the contract.
    
*   Under **"Current Positions,"** enter:
    
    *   **Closing price**
        
    *   **Quantity**
        
*   Click **"Close"** to submit a limit order.
    

Alternatively, in the main trading interface:

*   **If you bought the option**, select **"Sell"** to close.
    
*   **If you sold the option**, select **"Buy"** to close.
    

Calculating Profit or Loss After Closing
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### Formula for Selling to Close:

    Profit = (Closing Price - Entry Price) × Contract Multiplier × Number of Contracts  
    

**Example:**

*   **Entry Price:** 0.0030 BTC
    
*   **Closing Price:** 0.0040 BTC
    
*   **Contract Size:** 0.1 BTC
    
*   **Contracts:** 2
    

**Calculation:**`(0.004 - 0.003) × 0.1 × 2 = 0.0002 BTC` profit.

### Formula for Buying to Close:

    Profit = (Entry Price - Closing Price) × Contract Multiplier × Number of Contracts  
    

Once the order is filled, check **"Contract Bills"** for the final settlement amount and fees.

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Frequently Asked Questions (FAQs)
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### 1\. **What’s the difference between quick close and manual close?**

*   **Quick Close:** Executes at the best available market price instantly.
    
*   **Manual Close:** Allows setting a custom price, which may take longer to fill.
    

### 2\. **Why does my closing order sometimes not execute?**

*   If your set price is too far from the market price, liquidity may be insufficient. Adjust the price or use **quick close**.
    

### 3\. **Are there fees for closing options contracts?**

*   Yes, OKX charges a small **trading fee** per transaction, visible in your contract bills.
    

### 4\. **Can I partially close a position?**

*   Yes, enter a smaller **quantity** than your total holdings to close only part of the position.
    

### 5\. **How do I track my closed trades?**

*   All executed orders appear in **"Contract Bills"** under the history tab.
    

### 6\. **What happens if my options contract expires?**

*   Expired contracts are **automatically settled** based on the final index price.
    

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By mastering these techniques, you can efficiently manage your **OKX options trading strategy**, minimize risks, and maximize returns. For further learning, explore OKX’s official guides and market analysis tools.

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*Originally published on [okx wallet](https://paragraph.com/@okx-wallet-2/okx-options-contract-closing-tutorial-and-profit-calculation)*