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Get Started with OKX Options: A Comprehensive Guide

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1. Contract Specifications

1.1 Settlement Currency

OKX Options are settled in BTC or ETH, not stablecoins. However, you can use stablecoins as margin in Portfolio Margin or Multi-Currency Cross Mode.

👉 Learn more about OKX Portfolio Margin

1.2 Underlying Index

The index for OKX Options is either BTC-USD or ETH-USD. Key resources:
– Index Methodology: Explains how spot index prices are calculated.
– Index Components/History: View historical data for BTC-USD and ETH-USD.
– Option Exercise History: Track past option exercises.

1.3 Contract Multiplier

  • BTC Options: 0.01 BTC per contract.
  • ETH Options: 0.1 ETH per contract.

Note: Perpetual swaps/futures use a contract multiplier of 1, with contract value adjustments.

2. Trading Channels

OKX offers three methods for options trading:

2.1 Simple Options (Beginner-Friendly)

  • Buy options only with a streamlined interface.
  • Ideal for newcomers to derivatives.

2.2 Options Chain (Advanced)

  • Full-featured trading for professionals.
  • Supports complex strategies.

2.3 RFQ (Request for Quote)

  • Customizable single-leg/multi-leg options for institutional traders.
  • Minimum size: 1,000 USD per RFQ.
  • Not available on mobile apps.

3. Minimum Capital Requirements

Category Minimum Requirement
Multi-Currency Account 10,000 USD
Portfolio Margin Account 10,000 USD
Simple Options None
Options (Non-Simple, China) 10,000 USD
RFQ Trading None

4. Fees

  • Transaction Fees: Applied per trade.
  • Exercise Fees: Charged upon option execution.
    View your personalized fee tier under “My Trading Fees” in the master account.

👉 Check OKX Fee Schedule

5. Account Modes & Margin

5.1 Portfolio Margin (PM)

  • Best for: Market makers and advanced traders.
  • Supports: Multi-currency collateral (BTC, ETH, stablecoins).
  • Liquidation: Delta-hedging prioritizes futures over direct option liquidation to reduce slippage.

PM does not offset margins across different underlyings (e.g., BTC-USDT vs. BTC-USD).

5.2 Isolated vs. Cross Margin

  • Isolated: Long options are automatically isolated (no liquidation risk).
  • Cross: Enables margin offsetting but requires active risk management, especially for short puts.

5.3 Autoborrow

  • Use USDT/USDC as margin for BTC/ETH options.
  • Interest applies only to actual liabilities, not potential borrowing.
  • View rates here.

6. Institutional Tools

6.1 API Best Practices

6.2 Market Maker Protection (MMP)

  • Prevents excessive order execution in short intervals.
  • Configure via API (millisecond precision).
  • Supports Mass Cancel and Cancel-All-After (CAA).

6.3 Position Limits

  • Default limits vary by account tier.
  • Market makers can request higher limits via [email protected].

6.4 Self-Trade Prevention

  • Avoid matching your own orders using API settings.

6.5 Rate Limits

  • Standard: 60 requests/2s (single), 300/2s (batch).
  • Colocation: 4x standard limits.

6.6 Public Trade History

  • Orderbook Trades: Tracked via WebSocket.
  • RFQ Trades: Filterable via WebSocket or Telegram (OKX Liquid Marketplace Trade).

6.7 Private Trade History

Access under: Assets > Order Center > Trading Account History.

FAQ Section

1. Can I trade OKX Options with stablecoins?

Yes, but settlements are in BTC/ETH. Stablecoins can be used as collateral in Portfolio Margin mode.

2. What’s the difference between Simple Options and Options Chain?

Simple Options is for buying only, while Options Chain supports advanced strategies like spreads and straddles.

3. How does Portfolio Margin reduce liquidation risk?

PM uses delta-hedging with futures to manage risk, avoiding direct option liquidation.

4. Are there fees for exercising options?

Yes, both transaction and exercise fees apply. Check your account tier for exact rates.

5. Can I raise API rate limits?

Yes, institutional traders can request higher limits via their account manager.

6. Where do I find my trade history?

Public trades are on WebSocket; private trades are under Assets > Order Center.

This guide covers everything from basics to institutional features for OKX Options. For further queries, explore OKX’s official resources or contact support.

👉 Start Trading on OKX Today

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