CME Crypto Futures & Options

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NeuralNet34

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 Brokers, and TD Ameritrade) do not allow you to trade them all (they offer a subset of the contracts). Side question: why wouldn't a broker offer all contracts?
 
it is common for brokers NOT to offer all the products.
there are millions of products that are untradable / of very poor lousy liquidity.

so brokers have to be selective
 
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Sadly, it looks like IBKR won't be offering the futures options. I had been hoping for it, but maybe we'll see what happens next year. Back when the micro-ether futures were released, IBKR jumped on them.
 
comintel said:
There is a list of brokers supposedly offering these products at
https://www.cmegroup.com/trading/bitcoin-futures-commission-merchants-fcms.html

Is anyone aware of any discussion anywhere of trading crypto option spreads such as broken wing butterflies and iron condors?

These CME products appear to be vehicles to use for such trading, but I am also interested in trading such option spreads on any crypto product and platform.

Thanks.
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Your best bet is to look at an OTC liquidity pool. Tough to find markets for these on lit markets.
 
comintel said:
Is anyone aware of any discussion anywhere of trading crypto option spreads such as broken wing butterflies and iron condors?

These CME products appear to be vehicles to use for such trading, but I am also interested in trading such option spreads on any crypto product and platform.
More...
As far as I know, Deribit margins each leg separately. So if you have spreads, they won't be recognized for lower margin than the sum of the margin on each leg.
 
NeuralNet34 said:
As far as I know, Deribit margins each leg separately. So if you have spreads, they won't be recognized for lower margin than the sum of the margin on each leg.
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That would be a major restriction. If your account is large enough to have Portfolio margin, though, it should be ok in that case I assume?
https://legacy.deribit.com/pages/docs/portfoliomargin

But I agree that they should not require Portfolio Margin to allow trading low risk spreads with low margin.
 
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