When can you trade binary options

A binary option is a financial exotic option in which the payoff is either some fixed monetary. [A] binary may be trading at $42. 50 (bid) and $44. 50 (offer) at 1 p. m. If you buy the binary option right then you will pay $44. 50, if you decide to sell right then you'll sell at $42. 50. Let's assume you decide to buy at $44. 50. If at 1: 30 .