Key Takeaways
OKX Options are a type of "choice right" (options) offered by the OKX exchange, enabling cryptocurrency traders to buy or sell specific assets at a predetermined price in the future. Investors can decide whether to exercise the contract, leveraging this tool for potential gains. Bitcoin and Ethereum options are the primary trading assets.
If you're exploring beyond spot trading in the crypto space, this guide demystifies OKX Options—covering their mechanics, operational steps, advantages, risks, and practical tutorials. Newcomers can grasp the essentials in just 5 minutes!
What Are Crypto Options?
Crypto options are derivative products similar to traditional "options" in financial markets. Purchasing a cryptocurrency option grants the right (but not the obligation) to buy/sell a coin at a fixed price by a future date. Unlike futures contracts, options allow selective exercise—buyers aren’t forced to execute trades.
As a top-three global exchange, OKX provides options trading for Bitcoin and Ethereum. Below, we simplify the concept with clear explanations. New users can refer to the OKX registration guide.
Five Core Elements of OKX Options
- Underlying Asset: Bitcoin or Ethereum (SOL options are no longer available).
- Strike Price: Fixed buy/sell price upon exercise.
- Expiry Date: The contract’s expiration deadline.
- Contract Type: OKX uses European-style options (exercisable only at expiry).
- Premium: Non-refundable fee paid upfront to buy the option.
Decoding Option Names
Example: BTCUSD-20250627-160000-C breaks down as:
- Currency Pair: BTC/USD
- Expiry: June 27, 2025
- Strike Price: $160,000
- Type: "C" for Call (buy right); "P" for Put (sell right).
This option allows buying Bitcoin at $160K on expiry, useful if prices surge higher.
How OKX Options Generate Profits
Scenario: Bitcoin trades at $100K. You buy a $110K Call Option (betting on a rise). If BTC hits $140K at expiry:
- Exercise: Buy at $110K, sell at $140K → $30K profit (minus premium).
- Alternative: Trade option contracts pre-expiry for price differentials.
👉 Start trading options on OKX
Step-by-Step Guide to Trading OKX Bitcoin Options
OKX’s "Simplified Options" tool streamlines selections by asset, direction (Call/Put), and strike price. Here’s how to proceed:
Buying Bitcoin Options
- Navigate to Options Contracts via the OKX app menu.
- Select Simplified Options.
- Choose BTCUSD (green arrow for Calls; red for Puts).
- Pick a strike price → System suggests contracts → Confirm purchase.
Contract Sizes & Pricing
- Bitcoin: 0.01 BTC per contract (multiples like 0.02, 0.05, etc.).
- Ethereum: 0.1 ETH per contract (multiples like 0.8, 1.5, etc.).
Cost Formula: Underlying Price × Mark Price × Quantity ≈ Premium (+ fees).
Example: For BTC at $106K, Mark Price ₿0.0007, buying 0.3 contracts costs ~$22.26.
Selling Bitcoin Options
Profit from mark price fluctuations:
- Buy an option (e.g., Mark Price: 0.0007).
- If Mark Price rises to 0.001, sell ("close position") for profit.
Pros, Cons & Risks of OKX Options
| Pros | Cons |
|---|---|
| ✅ Low capital required | ❌ Complex vs. spot trading |
| ✅ No margin needed | ❌ Rapid mark price fluctuations |
| ✅ Controlled risk (optional exercise) | ❌ Limited strike/date availability |
| ✅ Beginner-friendly interface | ❌ Potential user errors |
OKX Options vs. Perpetual Contracts
| Feature | Options | Perpetual Contracts |
|---|---|---|
| Forced Exercise | No | Yes |
| Assets | BTC, ETH | Multiple coins/pairs |
| Margin | Not required | Required (leverage-based) |
| Risk | Limited to premium | Variable (depends on leverage) |
| Liquidation | None | Possible |
FAQs About OKX Options
Q: Can I trade options without prior experience?
A: Yes! Use OKX’s Simplified Options for guided selections.
Q: What’s the minimum investment?
A: As low as ~$10 for Bitcoin options (varies by mark price).
Q: Are options riskier than futures?
A: No—maximum loss is the premium paid (unleveraged).
Q: How do I exit an option early?
A: Sell the contract via the "Close Position" button.
Q: Are there fees for holding options?
A: Only upfront premiums and trading fees; no recurring costs.