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CME now has 4 cryptocurrency futures contracts (BTC, micro BTC, ETH, micro ETH) each with an options chain. Which US Brokers allow you to actually trade them? How about in an IRA? (it's fine even if margin = full notional value) The brokers I've checked so far (Charles Schwab, Interactive...

Would there be a legal way for a US resident to trade on Derebit?

Does anyone know a broker that allows crypto futures options? I can confirm as of today that: Charles Schwab allows only the full-size BTC contract, but no options. TD Ameritrade allows all four crypto contracts, but no options.

Where do the options commissions differ? I see $0.65 per contract on both brokers, with no exercise fee.

That's surprising. I assume TOS means Think-or-swim by TD Ameritrade, which owns Charles Schwab (or vice versa, I'm not sure). And Charles Schwab will only margin the position I gave above as two separate diagonal spreads (confirmed online and over the phone).

In 4-legged spreads (butterfly/condor/box), the expiration of the long legs must be exactly the same as (and not after) the short legs. For a 2-legged diagonal spread, the later expiration on the longer leg poses no problem. But for a 4-legged spread the expirations must match. My question...

Thank you @Robert Morse and @CannonTrading_Ilan for your replies. I believe the CME Core Calculator is the tool I am looking for. My understanding is then that futures options behave like futures, where there is a daily settlement price and mark-to-market. I wonder if any traders have...

How does margin on Futures Options work? Is there a resource to explain the margin for various positions? I understand margin for equity options, so just need to learn any differences for futures. For example, if I buy a debit spread, do I pay the full premium immediately or do I put down a...

Thank you @xandman ! The second link shows exactly what I was looking for.

For a futures option, how can I determine the delivery month of the underlying futures contract? I thought it might be the earliest delivery whose last trading day is after the option's expiration, but there are exceptions. I thought it might be the delivery with the same month code as the...

This resolves my confusion. The rules don't make sense (to me), but that's the rules nonetheless. Is there a definitive reference as to what the rules are? For example, most brokers define a butterfly spread where all four legs have the exact same expiration. Does this mean that: : +1 ABC...

Thanks for the replies. I think I didn't use the term "zero-margin" correctly, or maybe I didn't understand the responses, so let me try again. I have bought all the positions in full (there is no margin loan). Suppose I have two accounts: Account 1: : +100 shares ABC : -1 ABC Call at 10 : $0...

I want to hold a position in my account such as: +100 shares ABC -2 ABC Call at 15 +1 ABC Call at 20 However, I was shown a margin error before placing the trade. I called the options team at my broker who explained that they view the trade as a Covered Call (zero margin) and a Bear Call...

Depending on the data granularity you are looking for, there are several good options. I’m a university researcher, so if you or some institution you belong to has access to the WRDS database, you can get historical US stock tick-by-tick data for free. Just select “Daily TAQ” from the...