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So you want to hedge this risk. Speculating on price. Another reason why you might buy a call option is to speculate on the price of the asset. A put option gives the holder the right, but not the obligation, to sell an asset at a certain price. Hedging Risk.
You represent a multinational corporation and you know that you are going to sell 1,, barrels of oil over the next year. Spe culating on price. In the generous Quran , the translation of what SWT says is:. Satan desires to create enmity and hatred amongst you through intoxicants and Maysir and to stop you from praying and remembering Allah.
So will you abstain from these things? As I pointed out in a previous video , Maysir is defined as an activity where the following two conditions are met:. A prime example of Maysir is gambling in a casino. When players gamble, they are risking their money in hopes of material gain first condition and their act of gambling carries no prospects of producing anything beneficial for anyone second condition.
Money is not useful in and of itself, rather, it is a means for transacting in that which is useful. When using options to hedge risk i. Suppose you had a backpack full of rocks that was wearing on you and you were able to transfer your backpack to someone else with a stronger back that had no problem carrying your rock-filled backpack for a fee.
This creates value. You get the backpack full of rocks off of your back and the stronger individual is able to monetize their strength by carrying your backpack. When options contracts are used to hedge risk, the backpack full of rocks represents risk and the options contract represents the mechanism by which the backpack full of rocks is transferred from your back to another person more willing and able to carry the weight.
So while condition 1 in identifying Maisir can certainly be said to be true whenever options are being traded, condition 2 which is that there are no prospects for creating any value cannot be said to be true when the options are being used to hedge risk. However, when options are used to speculate on price, both conditions of Maisir are met and therefore it is prohibited in Islam haram.
Options fall in the family of financial instruments called derivatives because they derive their value from the price of some other underlying asset. The maximum number of shares of XYZ that can be bought is 10 i. However, if you would like to speculate on the price of XYZ shares using options, the maximum number of options that can be bought is infinite. Risk is not being created.
If you need halal funding and live in the U. If only I had received one simple answer I would just stick to it and not waste my time reading about other markets!! I want to use this premium as a means of passive income. This seems the safest way to be involved in the market. Is this halal or haram? In options, if you are using technical analysis and various indicators and have invested time and money in educating yourself , then using options is based on some education.
Poker is a game that involves alot of skill. In fact you could argue that poker is entirely a matter of skill since everyone pretty much receives the same cards in the course of hands. However, because poker involves putting your money at risk with no corresponding value creation it is gambling. For example, I play poker to make money and I use that money to feed my family therefore I am creating value through my playing of poker. Feeding your family is halal. Earning money through poker is not.
Regardless of what you do with the proceeds. And Allah knows best. Thanks for the reply…but; 1 — if we follow this argument, then nothing is created without risk with no corresponding value. For some, putting food on the table is value creation and agree that this is halal. Otherwise, the many Muslims that work for non-Islamic banks or financial institutions or software companies or media companies or food companies or are earning haram money. The value being created using options is defined.
But spreads have a defined risk and a defined profit at the time of entering the trade. Short puts are haram because 1 not owning the underlying asset…. You forgot to mention that the seller of the call or put…that is the one who was given the bag of rock to carry on his back, can simply decide not to carry it anymore by closing his option. That is He Buy to Close his contract. Please try to understand the options contract dealing from beginning to end before writing. Try to understand fully what is Sell to Open, Buy to Close.
Buy to Open, Sell to Close. About Rolling the contracts. This are all choices of an option contract that can be exercised anytime by buyer or seller. Like I said, I can choose not to carry your rocks on my back by buying back my contract as and when I so wishes.
The option contract can only proceed when both the seller and buyer agreed to proceed, if not, either seller or buyer can terminate and close their option contract anyrime they so wishes. A Muslim is expected to abide by the Islamic principles covering all aspects of their life from social matters to economic matters that were expounded in the holy Koran. In the area of banking and investments, Sharia law strictly forbid the lending of money with interest.
When Sharia law is applied to Binary options trading, this means interest that is earned or charged for an overnight position is prohibited as well. In the spot financial markets, trading is done on a 24 hours basis. By 5 pm New York time, all open market positions are then rolled over to the next 24 hours cycle.
This situation puts Muslim traders on a collision course with their religious beliefs. For example, instead of having an open market position rolled over automatically making overnight interest payable, open positions in Islamic trading accounts are closed by 5 pm New York time and then reopen immediately hence avoiding any interest payable for the fresh 24 hour cycle.
To help traders in their selection of brokers that offer Islamic trading accounts, we have compiled a list of leading binary brokers that offer Islamic trading accounts. It should be noted that the list above is by no means exhaustive but is just a guide. If someone used a Halal binary options account, but had little or no knowledge of what or how to trade, then they would be using binary options to gamble — and this would certainly be Haram.
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