I’ve know about some currency options for awhile now. They trade on the PHLX and are dollar indexes based on the majors. XDA, XDN, XDE, XDC etc. They’re contract size to equal about a mini lot. They have very low open interest, but seems like market makers always have a decent amount of bids and offers so seems they’re liquid yet have low open interest if that makes sense. The spreads aren’t horrible for options either ATM of .05 or less which equates to about 5 pips. Not as good as spot FX but not horrid, not good for short term. Just wondering if there is any risk because of low open interest? And why are so few traders using these. I get it they wouldn’t be good for short term strategies but seems to me they’d work for those looking to trade daily or weekly candles holding for 100 pips plus. The premium and theta decay is a down fall but leverage is not far off spot when buying ATM or slightly ITM 50/1 to 75/1 for about a month out. I get premium is a negative aspect but all said and done the underlying move enough to offset premium which seems to be about a day or two of ATR. I feel like these have an advantage of being able to hold and not get stopped out in Spot with whipsaws and stop hunting then watching the move go as anticipated. Seems I can position size an option to worthless 2% risk on account value and slippage or nothing would increase that risk unlike spot. I also get being limited to US time is a negative but again not using it for anything less than daily. Any thought why traders don’t like these or why they should be used or avoided? I honestly love the concept as someone using daily candles.