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I would recommend LedgerX -- A US based CFTC regulated derivatives clearing house and brokerage. They're available to US persons and organizations including re
by nullc 6y ago
I would recommend LedgerX -- A US based CFTC regulated derivatives clearing house and brokerage. They're available to US persons and organizations including retail. I believe non-US persons need to form a US company to use the platform currently.
The swaps and options on LedgerX are fully collateralized and physically delivered.
You can short Bitcoin there by depositing USD via wire transfer and buying puts.
You can see the current list of contracts: https://trade.ledgerx.com/live https://trade.ledgerx.com/live
The contract size is 0.01 BTC and prices are quoted per Bitcoin (similar to how equity options are usually 100 share contracts and quoted per share).
I've been a customer since 2017 and have been pretty happy with them. If you have questions, I'd be glad to answer them: I'm a seller of puts and would always welcome more people taking the opposite side on the platform. :)
- simonebrunozzi 6y agoHow do you sell puts on LedgerX?
- copumpkin 6y agoGet an account on there, get USD in somehow (either wire in funds the old-fashioned way or send in BTC and sell swaps/futures/options), and then you can sell puts at any strike/date that you want, as long as you have the USD collateral to lock up to maintain them. So if e.g., you wanted to sell 100 contracts (1 btc worth) of $40k puts for June 2021, you'd be "locking up" $40k until you exit that position, which would be June at the latest. You could also unlock some or all of that money early by buying back some of those contracts on the market, possibly at a profit or loss depending on how things move. Or you could ride it out until expiration and hope BTC is trading above $40k at the end of June. Does that make sense?