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> For a complete documentation index, see https://docs.paradex.trade/trading/instruments-guide/options/btc-options/llms.txt.
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# BTC options configuration

The reference configuration for the BTC Dated Options contract:

| Parameter            | Value                               |
| -------------------- | ----------------------------------- |
| Product type         | Dated European Option               |
| Symbol format        | BTC-USD-\{Expiry}-\{Strike}-\{Type} |
| Base currency        | BTC                                 |
| Quote currency       | USD                                 |
| Settlement currency  | USDC                                |
| Price tick size      | 0.01 USD                            |
| Order size increment | 0.001 BTC                           |
| Minimum order value  | 20 USD                              |
| Maximum order size   | 100 BTC                             |
| Maximum open orders  | 150                                 |
| Position limit       | 1000 BTC                            |
| Spot band factor     | 30%                                 |
| IV band factor       | 30%                                 |

## Margin Configuration

* [Cross Margin Requirements](/trading/dated-options/margin-requirements) — cross-margin IMR/MMR parameters for trading options
* [Portfolio Margin](/risk/portfolio-margin) — portfolio-level risk evaluation for reduced margin on hedged portfolios