User Guide

Options Trading

The FMZ Quant Trading Platform supports options trading on the cryptocurrency futures exchanges below. Options are used the same way as futures contracts: set the contract to an option code with exchange.SetContractType() (the option code is the exchange's native code, and the format differs between exchanges). After that, market data functions such as GetTicker() and GetDepth() and trading functions such as Buy(), Sell() (set the trade direction with exchange.SetDirection() before placing orders), CancelOrder() and GetPositions() all work on that option contract. You can also place orders with the full instrument code in the form pair.optionCode, for example BTC_USDT.BTC-260925-145000-C.

Option order books are usually thin: when there is no bid or ask, Buy and Sell in the Ticker are 0, and Last may be 0 for a contract that has never traded; see each exchange below. Whether exchange.GetMarkets() lists option contracts depends on the exchange; where it does not, get the option codes from the exchange's API or website.

Futures_Deribit

After setting an option contract you can get market data, place and cancel orders and query positions. Option code examples: BTC-13SEP24-60000-C, XRP_USDC-27SEP24-1-C; combination examples: BTC-CS-6SEP24-57000_57500, BTC-PCAL-20SEP24_13SEP24-55000. The result of exchange.GetMarkets() includes option contracts.

Reference strategy: Deribit options test strategy

Futures_OKX

Used the same way as Deribit. Set the trading pair to BTC_USD or similar; option codes look like BTC-USD-200626-4500-C. For an option that has never traded, Last in GetTicker() is the mark price. exchange.GetMarkets() does not list option contracts; the option contract list is available from OKX's /api/v5/public/instruments endpoint, for example BTC options:


            javascript
            
            
function main() {
    Log(HttpQuery("https://www.okx.com/api/v5/public/instruments?instType=OPTION&uly=BTC-USD"))
}


            python
            
            
import json
import urllib.request
def main():
    ret = json.loads(urllib.request.urlopen("https://www.okx.com/api/v5/public/instruments?instType=OPTION&uly=BTC-USD").read().decode('utf-8'))
    Log(ret)


            rust
            
            
fn main() {
    let body: String = HttpQuery("https://www.okx.com/api/v5/public/instruments?instType=OPTION&uly=BTC-USD", None);
    Log!(body);
}

Futures_Binance

Binance European options (USDT-settled) are supported. Set the trading pair to BTC_USDT or similar; option codes look like BTC-260925-145000-C (underlying-expiry YYMMDD-strike-C/P). Options trading must be enabled on the account. Limitations:

Only limit orders are supported; market orders, conditional orders and order amendment (exchange.ModifyOrder()) are not.
Leverage and margin mode settings such as exchange.SetMarginLevel() are not supported.
Unified (portfolio margin) accounts do not support options.
exchange.GetMarkets() does not list option contracts.

Futures_Bybit

Options with two settlement currencies are supported:

USDC-settled: set the trading pair to ETH_USDC or similar; option codes look like ETH-25NOV22-1375-P.
USDT-settled: set the trading pair to ETH_USDT or similar; the option code has an extra settlement-currency suffix compared with USDC-settled ones, like ETH-25JUN27-2800-C-USDT.

The result of exchange.GetMarkets() includes options of both settlement currencies. Bybit has no kline endpoint for options, so GetRecords() is built from trades.

Futures_Aevo

USDC options on Aevo are supported. Set the trading pair to ETH_USDC or similar; option codes look like ETH-30JUN23-1600-C. Last in GetTicker() is the mark price. Aevo has no kline endpoint, so GetRecords() is built from trades and is empty while the contract has no trades. The result of exchange.GetMarkets() includes option contracts.

Futures_GateIO

USDT options on Gate are supported. Set the trading pair to BTC_USDT or similar; option codes look like BTC_USDT-20211130-65000-C. The result of exchange.GetMarkets() includes option contracts. If options are not enabled on the account, order and position queries return the exchange's error.

Futures_Kraken

Options on Kraken Futures are supported. Set the trading pair to ETH_USD or similar; option codes look like OF_ETHUSD_261225_4000_C (OF_, underlying and quote currency, expiry YYMMDD, strike, C/P). The underlying and quote currency in the code must match the trading pair, and BTC is written as XBT in the code (e.g. OF_XBTUSD_...).

Kraken has no option listing endpoint, so exchange.GetMarkets() does not include option contracts; get the option codes from the Kraken website.
Last in GetTicker() is the mark price, and Buy, Sell, High and Low are 0; the raw data in Info carries the implied volatility, the greeks and other fields.
Market data, klines, orders, positions and order history queries work; option orders go through the same order endpoint as futures contracts and have not been verified in live trading yet.
Options have no funding rate, and exchange.SetMarginLevel() is not supported.