Looking to short the dollar but wanted to use an index option of the dollar against a basket of currencies. Can't seem to find one that has options on it.
Is there an option on IB for the US dollar? Looking to short the dollar but wanted to use an index option of the US dollar against a basket of currencies. Can't seem to find one that has options on it. ______________________________ What is the US dollar index? The U.S. Dollar Index (USDX) is a relative measure of the U.S. dollars (USD) strength against a basket of six influential currencies, including the Euro, Pound, Yen, Canadian Dollar, Swedish Korner, and Swiss Franc. The index was created in 1973, but remains useful to this day. ____________________________ US Dollar Index Futures & Options Available on ICE FUTURES US Is it available in IB? It seems like no. But you can easily find other brokers offering this product.
The ICE futures and FOPs are available on IB. The underlying symbol is DX. https://www.interactivebrokers.com/en/index.php?f=2222&exch=nybot&showcategories=FUTGRP https://contract.ibkr.info/v3.10/index.php?action=Details&site=GEN&conid=638174999
If you are just doing a long term bet on this you don't need market data, just use a limit order and adjust it till it fills. Alternatively, you can use the FOPs on CME for individual currencies, the CME data is much cheaper.
Yes there are currency options and options on currency futures. The volume on them is not that great so the spread is quite wide but they do exist.