What are CME options on bitcoin futures?

The underlying for CME options on Bitcoin futures is one CME Bitcoin futures contract. As you know, the CME Bitcoin futures contract represents five bitcoin and cash settles to the CME CF Bitcoin Reference Rate (BRR). Therefore, an option on Bitcoin futures provides that same exposure to five bitcoin.

What are bitcoin futures trading hours?

This means that every time the contract moves by the smallest increment a trader will gain or lose $25 per contract they hold. Bitcoin futures will trade on CME Globex and CME ClearPort from 5 p.m. to 4 p.m. CT Sunday to Friday. The long trading hours are typical of futures contracts that are traded electronically.

What are micro bitcoin futures?

The original CME Bitcoin futures contract, launched in December 2017, is worth five Bitcoin—not a huge deal then, but it’s around $290,000 today. In contrast, a micro Bitcoin future at one-tenth of one Bitcoin comes down to $6,000.

What are the tick increments for bitcoin futures?

The tick increments are quoted in multiples of $5 per bitcoin, meaning a one-tick move of the BTC future is equal to $25. BTC futures are block trade eligible with a minimum quantity threshold of five contracts.