u.today
Chicago-based trading behemoth CME Group has announced that $XRP options are now officially live.
The same product has also been launched for Solana, another top 10 altcoin.
Earlier this year, CME Group launched regulated futures contracts on $XRP and $SOL.
The options on these futures were then announced in September to much fanfare.
How the options work
An options or futures contract gives the holder the right, but not the obligation, to buy or sell a certain futures contract at a specified strike price.
In this particular case, the option is based on a futures contract on $XRP (or $SOL).
The newly launched options are available in both standard and micro sizes.