You need USD to buy options on LedgerX. If you receive the insufficient collateral message, please check that you have enough USD to cover the options premium and trading fees.
You can sell BTC for USD using our next-day Bitcoin contract (how to here) or you can send USD via wire transfer. Below are our funding requirements.
- Buy Options: Pay USD premium
- Sell Calls: Post BTC
- Sell Puts: Post USD strike price
In the Options Order Entry form, the Premium is the amount of USD you need to pay for the contract(s). Option trading fees are $0.15 per contract. See full trading fee details: Does LedgerX have trading fees?
Read more about trading options on LedgerX here.